The Halloween decorations are down and the Christmas decorations have taken their place.
It seems all is not Merry with the market however.fIt appears the honeymoon may have been short lived.
That cannot be said for Crypto, as Bitcoin climbed to $90,000 after trading near $50,000 earlier this year.
Gold has also headed toward $3,000.
Among the biggest winners has been Tesla.
It seems being close to the incoming President does have its benefits.
We were entertained last week with a theatrical production that was supposed to be a sporting event on Netflix last week.
Over 60 million viewers tuned in or at least tried to as the production quality was pathetic, much like the fight.
It more closely resembled almost all the sports teams I seem to support this year.
Netflix will announce earnings this week and they should be significant.
The same cannot be said for budget airline, Spirit, which filed for bankruptcy, but will continue flying during the reorganization.
Apparently, budget flying is not working out that well.
Most of the jump in the equities markets was attributed to the hopes for deregulation.
While I am not a fan of big government, I feel business is its own worst enemy.
An old axiom is that free enterprise cannot exist without ethics.
Simply do what you say and following the golden rule.
If a person’s word meant something, we could eliminate almost all of the attorneys.
However, business seems to have the attitude the ends justify the means.
In such cases, someone always gets hurt, therefore there is a need to regulate. Putting profit ahead of fair play is the reason.
So, while I find regulation stifling, it may be the only answer when we ignore ethical conduct.
Sometimes, we actually do get what we deserve.
There was some concern last week that the Fed may not follow through with another rate cut in December.
The reasoning is that the war on inflation may not have been won yet.
I really don’t think another quarter point reduction will make any difference.
We have moved rates below 5% and probably should remain around 4.5% for a period before anything else is done.
I will say though that there has been a noticeable pause in the demand for real estate over the last couple of months.
Possibly, the mortgage rate level had an impact.
We will close in on the real holiday season, which is Black Friday.
Have you noticed that we started the push before Halloween?
I couldn’t believe it while down at the coast a couple of weeks ago and they were already playing Christmas songs.
Maybe that is what this country needs is a long and merry holiday to relieve all the stress.
Nothing like running up the credit card to make you feel better.
