Stock Market
started October on the very best of right foots, rebounding harder than Giannis in the paint.
Here are the results for October 1st, is this a sign of things to come for the rest of the month? 🤷🏾♀️🤷🏾♂️
However, as a net buyer of stocks; I was so happy to see the stock market fall for an entire month. I actually would love to see more of the market falling. Yes, I'll loose money in the short term but over 20-30 years of investing, this blip won't matter.
No young person (50 and below) should be sad about the market falling. We have time to recover all the losses and then some. Plus we would be able to buy stocks for a better price (depends on the stock cause some companies need to fall a long way to get to that "better" price). Every time the market falls just think to yourself, "We are having a SALE and I get to buy good companies or the index for a better price."
September Stock Market results:
With the beginning of October, it also means the beginning of a brand new quarter. In fact, it is the last quarter of 2021. To which I say “HOW?!” Everyday has felt like ground hog day as I literally work and sleep in the exact same room so nothing ever seems to be changing around me. Regardless, I thank God for the opportunity to still be here. More importantly October is a very big month for my family, Mom and Dad’s Anniversary and Big Sister’s Birthday. Also, I have a bunch of friends who have birthdays in this month. SO much to be thankful for.
But this is not the reason you are here on this newsletter.
Here is what to expect in the upcoming week. Earnings Season is upon us once again. However, we have to wait a week before the true gauntlet of earnings begin. Which always starts with the Big Banks. But next week we get Earnings from Levi’s which is important because we can combine that with employment numbers for September to get an idea of people returning back to the work force. This is the beauty of earnings season, even when I do not care about the company. We can still get insights about the economy based on the companies reporting earnings.
SAD CHRISTMAS AHEAD?
Consumer Sentiment Index absolutely crated in September as spikes in Delta cases continued to rise. After peaking in June, Consumer Sentiment has been declining. It dropped from 115 in August to 109 in September. According to the survey, people are now less inclined to purchase homes, automobiles, and major appliances. As someone said "The cure for high prices is high prices."
Combine that with increased shipping times and delays due to supply chain constraints. Most manufacturing is done in Southeast Asia, which is seeing a major spike in Delta cases (only 20% of people are vaccinated). Vietnam for example has had to shutdown a large part of its manufacturing sector to curb the spread. Nike CEO Matt Friend said
This is why the US has to play a larger role on the global stage in getting other countries vaccinated. We are facing a very dreary next few months for the economy.
Hope you got all your birthday and Christmas shopping done. Cause you might not find anything you wanna get people soon. You could just use it as an excuse for why you could not get anyone a gift for Christmas. Just say, "I'm sorry babe. I tried to get you something but the supply chain is just so tight and the labor market is just so bad. They could not make the items that I wanted to get you."
Then we have inflation beginning to raise its ugly head once again. After seeing a brief reprieve, inflation seems to be getting worse rather than better as the Fed has been expecting (side note: I have been on the “inflation is transitory” side. Mainly because it made no sense that used cars could be more expensive that new cars). Powell went before Congress on Wednesday to talk about what is happening right now and he said inflation might continue to rise for a longer period than expected not due to anything the Fed is doing (so ignore anyone who uses the argument of monetary supply increase is causing inflation) but because of the increased supply chain constraints. Which is also why I think the Fed needs to start tapering sooner rather than later. Nothing they are doing is gonna help the economy anymore. It's no longer a money issue but now a system issue both on labor side and on supply chain side.
MAN U Update
This team really knows how to be dramatic. We just can’t dominate a game start to finish. We barely survived against Villarreal on Wednesday. Ronaldo coming in clutch and saving the day.
Then we followed that up with a tie with Everton on Saturday. Man U went FULL Man U in this game. Just gave the game away.
I just want us to be a dominant team like there I say, Man City. We have a long way to go before we get to that position.
I hope you all have A WONDERFUL week. Go subscribe to Rambling Mind Podcast for in week stock market updates. I will have another post on Wednesday. You can also catch me on TikTok, Instagram, and YouTube everyday.
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Remember GENEROSITY > greed
God bless Each and Everyone of y’all
✌🏾
-Kelechi