(10/25/22) What factors could lift markets into the end of the year?
Over $1-Trillion worth of authorized stock buy backs become available on Friday, triggering as much as $5 Billion of buying a day coming into the market; mid-term elections are two-weeks away, and historically, stocks have been higher for the twelve months following a mid-term election; a gridlocked congress would provide opportunity for stocks to rally.
The Fed, also, is a factor, meeting next week and expected to hike rates 75bp again...but any policy that would slow the pace of interest rate hikes would be viewed as a positive by markets.
Markets pierced the 3,800 level yesterday but couldn't hold it; earnings have been coming in a little better-than-expected, and with Microsoft and Google set to report today, and Apple and Amazon in Thursday, any good news would be welcome.
