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November 6: The Fed Is going to destroy everything (Recap Ep200)

In this week’s recap, the main news is the Fed raising interest rates again, pushing breaks more challenging economy in an effort to slow inflation. US markets ended negative for the week, and international markets ended mostly positively. Also, commodities and bitcoin finished positive this week.

Labor Dept Fri US added +261K jobs in October & unemployment rate rose to +3.7%, with labor participation falling to 62.2%. The labor market shows other signs of slowing under the pressure of high prices, stubborn inflation, rising interest rates & weakening global economy.

Twitter temp closed offices & cut workers’ access to internal systems Friday after telling employees they would be informed by email later in the day that they were being laid off, looking to cut around 3,700 Twitter staff (50% of the workforce).

Netanyahu won Israel’s PM; in Brazil on Sunday, Luiz Inacio Lula da Silva narrowly defeated Bolsonaro; China saw factory activity unexpectedly fall in October; scientists discovered reservoir water 3X volume of all oceans beneath the Earth’s surface; the Reserve Bank of Australia raised interest rates by 25 basis points to 2.85%.

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