What’s going on in the world…
Market opens in the green again with the DOW and S&P hitting fresh, all-time highs. This remarkable Bull run continues. It was 2 to 1, advancers to decliners at the open. ADP reported a spike in job growth for September, suggesting Friday’s non-farm payroll report will be another strong one. The US economy continues to be in solid shape. Fed Chairman Jerome Powell called it “remarkably positive”. The new NAFTA deal is instilling confidence in more deals on trade and a pickup in global growth. Emerging Markets are showing signs of reinvigoration. Concerns around Italy are cooling this morning, though the challenges remain. Same goes for Brexit. European markets were higher overnight. Interest rates are jumping, with the 10-Year Treasury yield at 3.08%. 30-year mortgages are at multi-year highs. Higher rates have been a cooling agent for overheating. But the Stock Market continues to soar. Tonight, in the Bronx, the Oakland A’s look to shakeup the baseball world with a victory in the AL wildcard game against the Yankees. They’ve come out of seemingly nowhere with a cast that’s considered nobodys and they have no business being there. But there they are. How awesome would a victory tonight be against the Pinstripe Empire. The A’s have nothing to lose. The Yankees know it. It’s so great to see what can happen when a group of individuals come together with a purpose and a goal that’s bigger than themselves. They work together to accomplish greatness. We’ll see it tonight in the Bronx.
Have a great morning,
Mike Frazier
