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VRA Letter: October Jobs Data; Fed Friendly and Bond Bullish. VRA Quick Hitters: SOXL, NAIL, TNA (BUY!), PLTR, TSLA. From 1985; the Year I Became a Stockbroker.

VRA Letter: October Jobs Data; Fed Friendly and Bond Bullish. VRA Quick Hitters: SOXL, NAIL, TNA (BUY!), PLTR, TSLA. From 1985; the Year I Became a Stockbroker.   November 03, 2023 Good Friday morning. On the heels of a rather mo ...

Posted On November 03, 20236 MIN Read
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VRA Letter: October Jobs Data; Fed Friendly and Bond Bullish. VRA Quick Hitters: SOXL, NAIL, TNA (BUY!), PLTR, TSLA. From 1985; the Year I Became a Stockbroker.
 
November 03, 2023

Good Friday morning. On the heels of a rather monster move higher in stocks yesterday, featuring a highly bullish 88.8% up-volume day in NYSE with 8:1 advance/decline, this morning we got the October jobs data which came in to the Fed’s liking as well as the bond markets.

October produced 150,000 new jobs vs estimates of 180,000 (with solid revisions lower from previous months), with an unemployment rate of 3.9% (vs last months 3.8%).

Stocks have reversed higher on the news (Dow +140), as have bonds, with the 10-year yield down to 4.52%.

Our views are unchanged. Significant Inflection Points Have Arrived. Seismic Shifts Developing. 

- Inflation has peaked

- The Fed’s hiking cycle is over

- Rates have peaked

- Corporate earnin...

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