The war in middle-east has been ongoing for awhile now, and we see that Israel is getting closer to their objectives. Even though Gaza was the trigger point, Iran is actually the real culprit behind this. A direct confrontation might not be able to avoid, but we don't expect other middle-eastern countries getting involved other than Iran.
Chinese rallies are strong but the underlying issues might be more complex. We have yet to see the results of the stimulus. There are too much optimism at this point. Like in the NVDA rallies previously, the expectation of growth was too great and it falters when it failed to meet expectations.
BlackRock's Fink said during his interview with Bloomberg, that market is wrong with Fed Rate-cut Bets. The bearish sentiments don't align with the actual growth rate of the US economy. Like he said, there is no hard or soft landing because economy is still growing. The upcoming bearish sentiments of the job reports is overblown.
We expect the market to bounce back at the end of week, or start of next week when they have gotten over some of those wishful thinking of big rate cuts.
Modify on 2024-10-02 17:51
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