It’s Only Money

Market Highlights

Markets Catch Their Breath.

After a strong run, the market paused. The S&P 500 slipped by about 2%, led by tech and momentum stocks giving back gains. Trade tensions with China and the ongoing government shutdown kept investors cautious.

Bonds held steady, with yields edging lower on whispers of possible Fed rate cuts. Gold ticked higher on safe-haven demand, while oil fell about 3% on slowing growth worries.

With key economic data delayed, due to the shutdown, markets are reacting to headlines more than fundamentals. Given that the most recent economic numbers have been reliably inaccurate, this might not be a bad thing.

On My Mind

As I write this, it seems as though peace has broken out in the Middle East.
The 20 remaining hostages, those still alive, have been set free. I can’t recall too many international events where I’ve found myself hoping for the best while waiting for the worst.

As if a potential government shutdown, domestic political strife, and Taylor Swift’s new album weren’t enough to process, out of nowhere China suddenly grabbed the headlines—reminding everyone that we’re still negotiating tariffs with a belligerent trading partner. This time, markets rebounded quickly, as this on-again, off-again relationship seems to be, kind of, sort of, on again. What a difference a weekend makes.

In this age of social media, where every event becomes Breaking News, people have become frenzied with information. I remember when a deep voice would interrupt the broadcast and we’d wait, that anxious, electric feeling as you held your breath to find out what happened. It was usually important… and even then, not always accurate. During the Reagan shooting, Frank Reynolds went on a live rant after all three networks mistakenly reported James Brady’s death. He was right to do so.

Patience, as a commodity, is trading at historic lows.
A good reminder, patience often pays greater dividends than cleverness, whether in the markets or in life, especially when it feels like you’re walking on eggshells.

On this Date in History:

October 16, 1962
President Kennedy learned that U-2 reconnaissance planes had discovered Soviet nuclear missiles in Cuba, igniting the 13-day standoff known as the Cuban Missile Crisis.

The world held its breath, waiting for the next headline. Anxiety and patience have always been at war with each other.