STOCK MARKET WATCH: Tuesday, 31 October 2023

[Tansy_Gold]

STOCK MARKET WATCH: Tuesday, 31 October 2023

Previous SMW:
SMW for 30 October 2023



AT THE CLOSING BELL ON 30 October 2023


Dow Jones 32,928.96 +511.37 (1.58%)
S&P 500 4,166.82 +49.45 (1.20%)
Nasdaq 12,789.48 +146.47 (1.16%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:













Gold & Silver:






Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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Quote for the Day:

But some people have elevated that skepticism to an unhealthy level, so that they view everything produced by the mainstream media or official government or academic sources with a typically self-reinforcing form of highly selective skepticism. They cannot believe any kind of official explanation for events, actions, or policies, but instead seek an alternative one. When this happens, their extreme skepticism flips into extreme gullibility, so that they become suckers for conspiracy theories that confirm the narrative they want to believe.

David A. Neiwert. Alt-America: The Rise of the Radical Right in the Age of Trump. Verso Books. © 2017.

This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[Shermann]

1. Relief rally! We need about 7 or 8 more days like today. nt

[Warpy]

2. I think the go-go days of fast money on paper profits are about over

unless the Republicans get another fucking idiot into office (redundancy) and give a tax bonanza to billionaires, possibly coupled with another easily stolen government giveaway that never quite makes it to the intended recipients.

Without a large infusion of other people's money, the 1% won't be able to inflate the market back close to a 40K Dow.

[bucolic_frolic]

3. The Interlude of "A Little Inflation is Good for Earnings" is about over

Now we are faced with light stagflation and robust employment. Can't fight inflation with more jobs and rising real spending power. Nor with energy prices that have peaked because they increase growth and spending power.

What I'm seeing in more than half my watchlist is eroding price over days and weeks. No or few robust rebounds. Asset plays - food, utilities - poor. Speculative growth - cannabis, pharma - flagging badly. Big Tech is treading water at best. My mutual funds are similar.

So now there's no place to hide if you want to be long.

[bucolic_frolic]

4. Took a gander on FUBO pre-earnings, then hedged it

Only a short term losing strategy if earnings tank the company. Modest profit on move upward. A strategy I use frequently.