Financial Markets Week-on-week, the main stock market indices continued rising, with the S&P500 gaining 1.3%, the NASDAQ 100 up 2.9%, and the RUSSEL 2000 3.2% in the red.  Gold is down by 2.7%, and silver lost 4.1%. The barrel of WTI is down 4.4% to 77$ per barrel. Bitcoin rised 6% and is now around 37100$. The relative strength of the US dollar rised 0.7%.  US bond yields are stable, now sitting at 4.65% for the 10-year and 4.77% for the 30-year. The US bond yield curve remains inverted and is now peaking at 5.49% in 6 months from now. Comment Section The week started with enthusiasm in the S&P500 and NASDAQ, which halted on Wednesday and Thursday. On Friday, as the day progressed, the positive momentum returned. Looking outside the big cap space, as in the Russel 2000, the week was pretty negative, and shows overall weakness in the economy. It is our view that this rally might last a few more days before reversing to the downside again. Take care, and subscrib...

Economic News The number of job openings increased by 56000 from the previous month in September 2023. During the month, job openings saw growth in accommodation and food services and in arts, entertainment, and recreation. Job openings declined in other services, the federal government, and information. This number shows that US companies continue looking for workers at a relatively high pace, although job openings have been steadily decreasing since 2022, after the post COVID-19 reopening. Furthermore, the labor market participation has been slightly increasing in the last months, which contributes to a normalization of the labor market.   The ISM Manufacturing PMI slipped to 46.7 in October of 2023, from the 10-month high of 49 in the previous month. This number points to the eleventh consecutive contraction in the US manufacturing sector. The data underscored the impact of higher borrowing costs from the Federal Reserve in the sector, further challenging the resili...