E Tuesday Talk: Still In The Air, Going Sideways, Getting Dizzy

If you are a new investor in Alphabet (GOOGL), some days the action may actually make you feel sick, with upward spikes and dips of anywhere from $0.25 to $90.00 (or more or less). Older investors will have gotten used to this (really?) and may be nonplussed by now.  In any case, I mention Alphabet because it reflects a lot of what is happening in the market of late. Lots of action with sideways gyrations, but still ending upward at day's, week's or month's end (for now).

Source: Google

Yesterday the S&P 500 closed at 14,681, down 8.1 pts., the Dow closed at 34,838 down 97 pts., and the Nasdaq Comp closed at 14,681, up 8.4 pts. Currently, S&P futures are up 8.5 pts., Dow futures are up 83 pts., and Nasdaq futures are up 24 pts.

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Today we'll take a look at how some TalkMarkets contributors think things are shaking out in the economy and the markets, along with some company specific notes.

Contributor  Marc Chandler who focuses on FX, in his article RBA Surprises, takes readers first to Australia where he notes that,

"The Reserve Bank of Australia surprised investors by sticking to its plan to reduce its bond purchases next month.  Starting next month, the RBA will buy A$4 bln a week of bonds, down from A$5 bln currently. Governor Lowe argued that once the virus is contained, the economy responds quickly. The slower pace of bond buying will continue through mid-November before another opportunity to taper opens. The RBA will update its economic forecasts at the end of the week. Still, Sydney, which accounts for a quarter of the country's GDP and a little more than a fifth of employment, has been in lockdown for the past five weeks and has reported a record number of cases. Lowe was adamant, though, that the conditions that would allow a rate hike are not anticipated until 2024. The market appears to be discounting a hike in 2023."

Elsewhere Chandler reports the following:

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