What a week…

In this buzz: another portion of earnings; mid-term elections; the Fed’s favorite inflation indicator CPI; Elon Musk; tech layoffs and more stock market news…

This one I mean. Sure, last week was awful for the stock market but this week could be full of surprises and volatility as well.

• Another portion of earnings,
• mid-term elections and
• the Fed’s favorite inflation indicator, CPI, being released Thursday spell volatility for already unsettled traders.

It’s been a hell of a year for investors but not in a good way.
War, inflation, a Fed that is trying to dampen down inflation without plunging the economy into a recession… it’s “a lot” as the kids say.

And now there are the tech layoffs.
– Last week, Elon Musk cut half of his workforce in Twitter and though he’s now asking some critical employees to return, the layoffs are still massive.
– Additionally, the WSJ reported that Facebook parent Meta is planning “sweeping” layoffs this week; highlighting the continuing difficulties tech firms have faced this year.

Polls (if you trust them), show the Republicans favored to take back the House, while the Senate is up for grabs. ! For what it’s worth, Morgan Stanley believes that the mid-term results could fuel a year-end equity rally. We’ll see.