Friday's Markets Update (October 27, 2023)

29 Oct 2023 by rate3

On Friday, the Nasdaq showed a bearish doji, as corporate earnings reports were mixed and core PCE rose 0.3%, the most since May. Shares of Amazon and Intel jumped after the companies reported strong earnings. Meanwhile, BTC and ETH continued to linger in their previous ranges below 35K and 1.8K, respectively.

Details

Core PCE prices, the Fed's preferred measure of inflation, increased by 0.3% in September, the most in four months. The annual rate eased to 3.7%, the lowest since May 2021, but remained above the Fed's 2% target.

Comment

What is going on in the World in 2020th?

From a social perspective, the Baby Boomer generation has now reached their seventies, marking a significant turning point as the reins of power and capital begin to shift toward Generation X and the Millennials.
From an economic perspective, third-world countries have invested in building infrastructure to transition from export/import-oriented economies to those centered around internal consumer markets.
From a political perspective, the elites of these nations have not only accumulated significant wealth but also garnered governance experience, thereby enabling them to diverge ideologically from their counterparts.
From a technological perspective, the profound scientific breakthroughs of the 20th century have been successfully integrated into numerous algorithmic and engineering solutions, resulting in a substantial increase in personal productivity.
From a military perspective, rapid technological advancements over the past two decades have caused formerly dominant armies to lose their key advantages to smaller yet more agile competitors.
From an ethnic perspective, the rapid development of transportation and the opening of borders have facilitated cultural diffusion, triggering a substantial counter-reaction from the indigenous majority populations.
From an psychological perspective, living in a time of constant change is unsettling.
On Week 44, investors will be watching the Fed's interest rate decision, the labor market report, and earnings reports from major companies. Additionally, GDP growth rates and manufacturing PMIs will be monitored for insights into global economic trends.