Last Friday was interesting to watch, but I would not make too much of it. I have learnt from the last election season, you will see a lot of uneasy sentiments kicking in but in most cases it really does not mean that its something we should react too. The market surged on Friday on strong earnings reports and the Fed finally asking the central banks to save the country from recession. This is good. Does that mean we will not get another 0.75% increase in interest rates?. Lets wait and see.
I feel a little better because oil is stable to $85 a barrel. I think its still super high but at least Mon does not need to pay more than before. China as has finally removed a few critical coronavirus restrictions and the markets liked it.
Apple and Microsoft will announce earnings this week. Will be curious to see how the new “overpriced” and “heavy” iPhone is doing. We have a few reports coming out about home prices and sales. I really encourage readers to start following the Conference Board’s Consumer Confidence Index (CCI) and the University of Michigan’s Consumer Sentiment Index (MCSI) updates. I will comment further about these next week