A bit of a sell off at the open today. ALL the big averages in the red with no sign of a turn-around....yet. Not much going on today as usual as we are now in a "normal" short term market environment. I am sure the Ten Year Yield is weighing on the markets today and lately. It will take another rate cut or two to hammer the rates lower. 10-year Treasury yield climbs to highest level since late July https://www.cnbc.com/2024/10/23/us-treasurys-yields-closely-watched-putting-pressure-on-stocks-.html (BOLD is my opinion OR what I consider important content) "The U.S. 10-year Treasury yield rose again on Wednesday as traders digested the latest comments from Federal Reserve officials on the trajectory of interest rate cuts. The yield on the 10-year Treasury rose more than two basis point to 4.2%, reaching levels not seen since late July. At its session high, the benchmark rate traded at 4.24%. That move comes after the 10-year soared 12 basis points on Monday and broke above 4.2% on Tuesday. Meanwhile, the yield on the 2-year Treasury stood at 4.05%, up more than one basis point. It hit a high of 4.065% earlier in the day, a level not seen since Oct. 10. Yields and prices move in opposite directions. One basis point equals 0.01%. Higher Treasury yields are putting pressure on equities, with U.S. stock futures falling, the declines coming after the S&P 500 posted its first back-to-back loss since early September. Robust economic data and deficit worries are among the factors behind the rise in the 10-year Treasury yield — despite a half-point rate cut from the Fed in September. Traders have become concerned that the central bank may be less inclined to reduce rates, even as the Fed had forecast another half-point worth of cuts before the year ends. It’s been a busy week for Fed commentary, with an array of policymakers delivering speeches earlier this week. Investors will be keeping an eye on the latest comments from Fed officials on Wednesday as Fed Governor Michelle Bowman speaks at the 8th Annual Fintech Conference in Philadelphia while Richmond Fed President Thomas Barkin will address the Virginia Education and Workforce Conference. The Fed’s Beige Book, a review of economic conditions across its 12 districts, is also set to be published Wednesday. MY COMMENT This is simply an ABERRATION.....a short term event. BUT....it is going to stick for a while....as traders drive this short term market action.
The above is about it for the short term events impacting the markets today. Earnings continue and are the big story.....for real investors....whether mentioned or not. BASICALLY.....a dull and boring day as the markets takes a little rest. We are now within about a week of closing out the month of October.....with EPIC YTD gains still in place. A perfect set-up for the end of the year.
Another little....black-eye....for BOEING. Satellite made by Boeing a 'total loss' after space 'anomaly' Intelsat's IS-33e manufactured by Boeing considered 'total loss' this week https://www.foxbusiness.com/technology/satellite-made-boeing-total-loss-after-space-anomaly
I've had a few big days. Yesterday was a 6% day. I'm confident I am still be way off the lead, in terms of portfolio performance in this thread. We are not up 60% on the year, to say the least. Our REITs and financials are going up like rockets with the recent rate cuts. I also own quite a bit of VOO that is also doing well. As well as these good performing equities, we hold about 30% in fixed income that is averaging just below 5% return. We are pleased with our portfolio performance. We don't need to be the best. My goal is to keep up with the S&P 500. To achieve that end, I have been moving us toward VOO. I'm sharing this because this is what I feel a good retirement position looks like. We hold no crypto or commodities. I don't trade. Our fortunes were largely set a few years ago when our individual equities mostly stabilized close to holding ratio they are now. At this point of my life, I have no problem buying an equity. I continue to research quite a few equities. I'll never go heavy on a new position again, though. That is for younger men who can afford the risk. Further, it is likely I won't buy another individual equity. I'm just saying I wouldn't hesitate, if I was extremely confident.
Well yes....TomB16...you are in retirement mode...you made it and now you get to enjoy what you did. Good for you.
I ended the day today driven into the RED by the Ten Year Yield. Only a single stock in the green....COST. I also got beat by the SP500 by 0.92%. A wasted day for me......but it is a new day tomorrow.
