Stock Market News 10-3-23

The Market

With earnings season not too far away the three major indices are in confirmed bearish order flow it’s an early stage but confirmed. The only solace we have right now is The NASDAQ is trying to catch a bid and that’s all happening down in the semiconductor stocks.

Long-term interest rates is the only thing anybody can talk about right now and the inverted yield curve.

Which is now manifesting the bearish move in stocks that many thought was coming but got derailed by artificial intelligence and the hype around all of those stocks.

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Well AI is in need of a new catalyst, something exciting because even that bid has gone.

A lot of people are calling the AI move similar to the dot-com boom and I get it it’s exciting.

But I don’t see it that way, at least not yet. The only companies making money off AI right now are those building the chips which means that nobody’s really 100% sure how it’s going to revolutionize anything.

So far it looks like the people it’s helping the most are those doing research such as students and maybe even business owners. If that’s the case AI is basically search engines on steroids.

The markets need something more than that to carry us higher again to offset “higher for longer” interest rates.

Not sure if that will be news about inflation coming down or surprisingly good corporate earnings.

Either way I hope that you take the lessons from 2022 and apply them to the decisions you’re making now.

Bear markets can move lower quickly. Don’t get caught. If your trading plan is “the market always goes higher,” that’s not a plan. That’s hoping.

And if you’re hoping, then you’re not in control of your money.

Welcome to a new edition of Stocks For Breakfast, where we bring you the most compelling stories and insights from the world of finance, fresh off the press.

In today’s headlines, we delve into the intriguing dichotomy between Morgan Stanley and Bank of America’s perspectives on the potential risks that interest rates pose to stocks. Morgan Stanley sees a looming threat, while Bank of America remains more optimistic.

Who’s right? We’ll be exploring their arguments in detail.

Meanwhile, Amazon is making waves with a whopping $4 billion investment in artificial intelligence (AI) to boost its cloud services.

With AI becoming an increasingly critical player in the tech industry, we’ll examine how this bold move could reaccelerate Amazon’s cloud growth and what it means for its competitors.

In other news, the financial world has its eyes firmly set on the criminal trial of Sam Bankman-Fried. As one of the most influential figures in the digital currency world, the outcome of this case could have significant implications for the industry.

We’ll bring you the latest updates and expert analyses on this high-stakes trial.

On the economic front, the US construction industry is showing signs of resili ence, with spending on homebuilding rising in August. We’ll take a closer look at what’s driving this growth and its potential impact on the broader economy.

As the AI hype cycle starts to wane, Big Tech is taking a back seat, and we’ll explore what this shift could mean for the tech industry’s future.

And finally, we’ll delve into PYPL impressive cash flow growth, demonstrating why it continues to be a powerhouse in the digital payment sector.

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