Market Recap - CASH IS KING - Taking on a new meaning.

Good afternoon and welcome to Quiver Financial news and this weeks episode of our Market Recap.  Today is Friday Oct. 21st and these are the top stories for the week of Oct. 17th.  This episode is titled CASH is King but takes on an entirely new meaning.

Last week we discussed that we might see a rally in the weeks to come.  Well we saw it, lost it and got it back today.  This is typical activity for a bear market.  We are still in an inflection zone so no clear indication whether we continue this rally or see new lows near term.  It is still our long term opinion that we are in a bear market.

Earnings have been relatively positive this week however most companies still painting a not so rosie picture of months to come.  Something to keep an eye on for future companies to talk about next week.

US existing home sales crash to a 10 year low.  We talked about the potential of a real estate crash and what you need to know.  Visit our youtube page to get the full story.

Now to the stories to way we say cash is king taking on an entirely new meaning.

Dollar is still strong and shows no sign of stopping.

IRS sets new 401k savings limits for 2023 and expands income amounts for the tax brackets.

Safe banking rules for cannabis companies are yet one more step closer after Biden’s endorsement.

Interest rates strike another high this week.  Fed expected to make another 75 basis point increase early next month.  What does this mean to you, well many things but one that we haven’t talked about in a while is that you can finally earn a decent rate of return on your cash. Some places as high at 4%.

And those are our top stories of the week that we feel investors should be paying attention to.  Stay tuned for next weeks market recap.

 

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