Saturday 23 October 2021

Special Update 23/10/2021 Stock Bubbles Meet The Powell Pin?

 Baltic Dry Index. 4410 -243 Brent Crude 85.53

Spot Gold 1793

Covid-19 cases 02/04/20 World 1,000,000

Deaths 53,100

Covid-19 cases 16/10/21 World 243,745,106

Deaths 4,953,505

"Five million people died from a virus that came out of a lab -- wouldn’t we want to know, wouldn’t we want to prevent this from happening again? This virus is very deadly, what if we had a virus that had a 15% mortality rate?"

Senator Rand Paul. October 21, 2021.

We open as usual this weekend with stocks, but the big news this weekend is the can of worms opened up by President Biden’s Taiwan declaration on Thursday, more on that below.

The other big story this weekend is in the Covid-19 section. The USA DID fund gain of function bat coronavirus research at the Wuhan Institute of Virology, the very lab believed by most to be responsible for the release of SARS-CoV-2 that causes Covid-19. Fauci’s NIH merely laundered the cash via the NY based Eco Health Alliance.

But first, news from the stock casinos bubbles, where a Powell taper pin may or may not be approaching.

Wall Street's main indexes turn lower as Powell talks taper

Oct 22 (Reuters) - The Dow and S&P 500 reversed course to trade lower on Friday, while the Nasdaq fell more than 1% after comments on stimulus tapering from Federal Reserve Chair Jerome Powell spooked markets trading at record levels.

The Dow and the S&P 500 had hit record highs earlier in the session on positive earnings from American Express, before Powell said that the U.S. central bank is "on track" to begin reducing its purchases of assets. read more

"Every time he (Powell) has been talking about tapering so far, markets haven't been bothered by it, but now at record highs investors tend to be just a little bit more sensitive to such news," said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin, Texas.

---- Supply chain worries, inflationary pressures and labor shortages have been at the forefront of the third-quarter earnings season.

Analysts expect S&P 500 earnings to rise 34.8% year-on-year, up from expectations of a 31.9% at the beginning of the week, according to data from Refinitiv.

At 11:59 a.m. ET, the Dow Jones Industrial Average (.DJI) was down 19.18 points, or 0.05%, at 35,583.90, the S&P 500 (.SPX) was down 17.70 points, or 0.39%, at 4,532.08 and the Nasdaq Composite (.IXIC) was down 159.06 points, or 1.05%, at 15,056.64.

More

https://www.reuters.com/world/us/nasdaq-futures-edge-lower-after-intels-margin-warning-2021-10-22/

Wall St Week Ahead: Tech giants' earnings may be another test for markets at new highs

October 22, 2021

Global Inflation Watch.  

President says he will consider such a deployment if logistics problems persist

Covid-19 Corner                   

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