Stock Market Recap for the week of Oct. 24th.

Good afternoon and welcome to Quiver Financial news and this weeks episode of our Market Recap.  Today is Friday Oct. 28st and these are the top stories for the week of Oct. 24th. 

Interest rates have taken a breather.  Even with the ECB hiking another 75 basis points and the fed expected to hike 75 basis points next week.  Time will tell if rates continue the trend higher.

Gas per barrel is at the same price point as a year ago and yet we haven’t seen a change in inflation data.

Today was another big rally day for the markets.  S&P500 closed out above 3900.  Bears need to be cautious and Bulls still have their work cut out for them to hold this rally into the end of the year.

Tech Stock tumbled this week on poor earnings form the big companies.  Facebook dressed up as a dead stock for Halloween this week.

3rd quarter GDP ticked up to a whopping 2.6 on wed.  Causing some to think the recession is going to have a soft landing.  These experts are not as pessimistic as a majority of that GDP number was driven by exports to Europe to aid their failing economy as well as oil and gas.  We still saw a huge slow down in consumer consumption.

And those are the top stories from this week that we feel you should know about.  Thank you for listening and Stay tuned for next weeks Market recap.

 

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