Invest
10 Minutes Weekly Picture: Q3 GDP Growth May Signify Economy Acclimatization to Rising Rates, Market Recaptures Key Level Even As Mega Cap Companies Struggled, Trading Ideas: $LXU, $GENI, $MIR, $RYTM (31st October 2022 – 4th November 2022)
By Jeff Sun Trading  •  October 31, 2022
Wall Street closed sharply higher on Friday with the S&P500 (+4.0%) and the Nasdaq (+2.2%) posting their second straight weekly gain and the Dow (+5.7%) notching up its fourth consecutive weekly gain boosted by hopes for a Fed pivot. Small cap stocks were a specific pocket of strength this week. The Russell 2000 gained 6.0%, which was more than the three major averages. The Federal Reserve and the Bank of England are all but certain to deliver jumbo 75-basis-point rate hikes on Wednesday and Thursday, respectively, as the battle against sky-high inflation continues. But with investors now on the lookout for signs that aggressive monetary tightening could start to slow, Friday’s U.S. jobs report for October will be in the spotlight. And with earnings season at the halfway mark the week ahead will show whether U.S. equities can continue to take disappointing corporate results in stride. Here’s what you
...
Read the full article
By Jeff Sun Trading
Jeff Sun is a independent trader, an accredited investor (Securities and Futures Act, Singapore), and an avid private/public equity real estate, and specialist builder engineering firms investor, with Certified Financial Technician (CFTe) accreditation by the International Federation of Technical Analyst; and graduand of (with distinction) Institute of Trading and Portfolio Management.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance