Oct 27, 2022
(10/27/22) Meta's disappointing earnings report sets markets up
to struggle through today's open; the money side of the business
was okay, and Meta's base of users was similarly okay; what worried
Wall Street was Mark Zuckerberg's dogged agenda of spending, all-in
on the fledgling "metaverse." Investors now wondering where the
value is in this company. More earnings disappointments from Google
and Microsoft yesterday put markets in a position to have to
struggle today to overcome the 50-DMA; Apple and Amazon report
tonight, and good news from either company would serve to bolster
the mood on The Street. What markets need to do is hold the 3,800
level and rally beyond, which would get us to 4,100, the high point
of the year. November brings a reprieve from corporate earnings,
but Fed activity and the mid-terms will continue the shape the mood
of investors.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts,
CIO
Produced by Brent Clanton
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