October 30 Market Update: Key Insights and Analysis for Savvy Investors

A Punkrock Capitalist
Oct 30, 2023
1 min read

All three indexes suffered last week with the Dow, S&P, and the Nasdaq down over 2%. Bitcoin rallied and rose 14% to $33k.

UAW strike saga is moving to its next phase as Canadian Chrysler builder Stelantis reaches agreement with workers. Following the suit of Ford which reached an agreement first. GM is the only one without an agreement yet,

Next strike is already cooking. The pharmacy workers are overburdened by their profession and work environment according to the pharmacy worker union. Walkouts are expected to start this week. We already know that Shmoe Biden loves strikers so he will surely pledge his support.

Were down 10% from the highs. This means were in correction territory. As expected, earnings seasons and a hawkish fed is causing volatility. The 10 year treasury notes are just below 5%. This means you should be buying not selling.