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On the SPOT™ blog (10/20/2023) [A..]

Geopolitics is heating up in the Middle East as Israeli military readied for ground war with Hamas while also dealing with Hezbollah. Macroeconomics is also tough as oil prices climb making it more difficult to tame inflation. Federal Reserve Chairman's comments from yesterday seem to suggest that Feds would move carefully on interest rates but given that labor market (last week's weekly jobless claim drop emphasizes this) is tight and economy reasonably healthy, Feds might have to raise interest rates. It also seemed like he was saying that fiscal policy isn't that tight yet. Results from TSLA, AMEX, airlines might also be adding to the bearish sentiment as all three major US indices are in the red this morning (PST).

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