Market Update Sep. 20/23

Yesterdays market closed down negligibly down yesterday. As the Nasdaq, Dow, and S&P ended down and Bitcoin reached $27k. The market is still holding their breath for the federal reserves rate descicison later this week. Consensus is, rate hike pause. Likely scenario. More hikes later in the year.

UAW strike is at danger of escalating. negotiations are not going well and demands are too high. If Ford buckles, it will not be able to pursue EV as planned.

Crude oil is expected to hit $100 a barrel. Sector is still a buy. Companies are still recommended by analysts.

Many IPO's are launching this year. Yesterday we had Instacart (CART). Stock is up over 20%. Will IPO's reduce the amount of capital in the broader market?

Stocks to Watch

Chipotle Mexican Grill (CMG) raised and reiterated with PT from $2200-$2280. Best in its group.

Nike (NKE) gets double lower from Citi and BofA. Confirms my view to stay away from China.

Wingstop (WING) is on fire. Put it on your list, this one will continue to go up.

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