As we can all see equity markets in this small week are a bit gloomy, with with stocks trading lower and as investors continue to worry about the Fed interest rates hikes and fear that it will be bigger than expected impact. I just don’t like what the Fed is doing as they are letting the markets jump up and down. They should just announce the increase in rate and get done with, By hinting it and leaving it out there they and playing with retail traders confidence with the markets. As if this was not enough….To add to the drama, omicron variant is causing pain and and hurting travel and hurting global supply lines.
As I had mentioned on Friday, Information Technology is taking a beating and the S&P 500 index’s sectors, Tech fell 2.5%, and the financial sector ended with a 2.3% downward glide
The main news was Goldman Sachs Group. Their fourth-quarter profit fell 13%, missing Street expectations. While I am a big fan of GS it has been a bad choppy quarter for this company. Microsoft will acquire Activision Blizzard for a mind blowing $68.7 billion. If you want to know why they did that, the answer is Metaverse. I will explain about it tomorrow. We will here a lot about Metaverse in the next few month…Trust me
