"Large and In Charge!"

Hi There! One of my absolute favourite things to do while in Grenada is hashing with my BFF. When the two of us get together, it's like stepping into a world of adventure, and oh, the stories we've collected along the way! Hashing, for the uninitiated, is a unique blend of athleticism and sociability – an exhilaratingly fun combination of running, orienteering, and partying. It's where bands of Harriers (male hashers) and Harriettes (female hashers) chase Hares (person setting the trails) on scenic trails through town, country, lush vegetation, and coastlines, all in pursuit of exercise, camaraderie, and good times. Hashing is not only a great way to explore new areas of my lovely island and get a fantastic workout, but it's also a non-stop laugh factory. After the trails and tales, I always end my hash with an ice-cold Carib Beer, a local Grenadian delight, and replenish my calories with a plate of local Grenadian cuisine – because that's how we Harriettes roll. So, here's to being a Grenadian Harriette – where every hash is an adventure, and every adventure is a fantastic story in the making! 

Alright, let’s dig in!

Last week, stocks faced the potential for their worst performance in a month, with several factors favouring the bears. These included a rising yield on the 10-year Treasury bill, hawkish comments from the Fed Chair, and ongoing volatility in the Middle East, all contributed to headwinds for the stock market. However, there was a glimmer of hope as oil prices settled lower on Friday, thanks to the release of two U.S. hostages from Gaza by the Islamist group Hamas. This development raised expectations that the Israeli-Palestinian crisis might de-escalate without spilling over into the wider Middle East region and disrupting oil supplies. Despite the Friday drop, oil prices managed to gain over 1% for the week. Additionally, earnings reports were generally positive, although Tesla's recent report served as a reminder that there could be consequences for subpar results. 

Here are other key highlights from last week:

• Bitcoin (BTC) price pulled back after $35K

• This play-to-earn game offers NFTs linked to physical items like gold

• Macy’s stepped into the metaverse with new digital fashion platform

• Polygon proposed Council for “Decentralized Governance”

Here’s what to expect this week:

This week in the US, we have some key economic indicators to watch. First, the US Gross Domestic Product (GDP) is expected to show a healthy 4.1% growth, driven by strong consumer spending. Then, keep an eye on Durable Goods Orders for insights into manufacturing activity. Inflation, measured by the US Core PCE, is expected to come in at 3.4% for overall inflation and 3.7% for core inflation, slightly down from previous figures. This might not be enough to trigger a December rate hike, as a November hike is not under debate, and a hold is anticipated.

We'll also hear from several Fed speakers this week, including Fed Chair Powell (On Wednesday) and Fed Waller delivering opening remarks at different events in Washington, DC, with the potential to provide interest rate insights. Fed Barr is also scheduled to speak later in the week.

This is another busy week for earnings.

This Week’s High-Impact Global Economic Data Highlights:

• Germany Ifo Business Climate Report

• Bank of Canada (BoC) Interest Rate Decision

• European Central Bank (ECB) Interest Rate Decision

This week's anticipated bias (not financial or investment advice):

• Monday (10/23/23) - Bullish

• Tuesday (10/24/23) - Market will push

• Wednesday (10/25/23) - Expect markets to be volatile

• Thursday (10/26/23) - News driven; trade with caution

• Friday (10/27/23) - Bearish

Trading Tip: Trending trades are based on volume!

Week 10/15/23 - 10/21/23 Recap

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Disclaimer: This newsletter is strictly educational. The information this report provides does not constitute investment, financial, trading, or any other advice. You should not treat any of the report’s content as such. Please be careful and do your research.