It was an interesting last week.
We had earnings reports from the Mag 7 and it was not received that well.
The earnings reports were not bad but they were not better than projected and didn’t come with great forecasts.
The S&P 500 stock-index had posted 6 straight months of gains but the Thursday lend of month sell off changed that.
The market rebounded quickly on Friday wiping out most of the losses.
We now turn our attention the all that is going to happen this week.
We of course have the election Then we have the Fed meeting and await whether they will lower rates again.
The most recent economic measures indicate a fairly strong economy which would run in the face of rather cuts.
You also have a change in the components of the Dow with Nvidia replacing Intel and Sherwin & Williams replacing Dow Chemical.
That does not even consider whatever world events might occur this week.
It was interesting to note that Berkshire Hathaway was continuing to raise cash and selling more of its stake in Apple.
Between Buffet and Paul Tudor Jones, it gives one pause to believe this market is going to go up for much longer.
Berkshire has accumulated over $328 billion in cash.
That is in fact a B in front of that number of dollars.
It is not that AI is running out of steam but that the capital spending that is taking place is out stripping the revenues it generates.
They said the same thing for years about Amazon but Bezos proved them wrong by growing the company and foregoing profits in favor of growth.
We shall see if history repeats itself.
There was some good news for Boeing as it appears that on the fourth try the machinists may approve a wage settlement raising their salaries 44% over the next four years.
I am not sure that is a good thing for Boeing but this shut down is a loser for sure.
I was amazed that the stock offering last week by Bowing went so well and didn’t impact the stock price which you would believe it would dilute.
I suppose we will all be breathlessly watching the news Tuesday night. I will look for other distractions as politics seems a lost cause in this country.
But that is just the old man curmudgeon coming out in me.
Good luck to our country.
