Benzinga
Published Oct 31, 2023 16:01
Updated Oct 31, 2023 17:10
Treasury Announcement More Important Than Fed's, Japan Abandons Yield Control, Tesla Under $200
Benzinga - To gain an edge, this is what you need to know today.
The Folly Of Investor Celebration Please click here for a chart of iShares 20 Plus Year Treasury Bond ETF (NASDAQ: TLT).
Note the following:
The announcement from the U.S. Treasury is adding to the buying pressure in stocks. Here are the details of the Treasury announcement:
Japan We have been sharing with you the importance of Bank Of Japan (BOJ) policies for U.S. stock investors. In a major development, BOJ is abandoning strict yield control. In the long term, this is negative for the U.S. stock market.
China In China, factory activity has returned to contraction. Here are the details:
After this data, there are more demands for government stimulus.
Eurozone Eurozone inflation eases. Here are the details:
Flash Q3 GDP came at -0.1% vs. 0.0% consensus. This indicates that the economy in Europe is shrinking.
Magnificent Seven Money Flows In the early trade, money flows are positive in Meta Platforms Inc (NASDAQ: META), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG).
In the early trade, money flows are neutral in Apple Inc (NASDAQ: AAPL) and Amazon.com, Inc. (NASDAQ: AMZN).
In the early trade, money flows are negative in Tesla and Nvidia (NASDAQ: NVDA).
In the early trade, money flows are mixed in SPDR S&P 500 ETF Trust (ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: QQQ).
Momo Crowd And Smart Money In Stocks The momo crowd is buying stocks in the early trade. Smart money is
Written By: Benzinga
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