Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Friday, the 1st of November.
Last month was a great month for many investors, myself included, as all of my stocks moved in a favorable direction. I see little reason to change my analysis of the markets as I expect them to continue to move higher in November. This is partly due to the Fed continuing with its $85 billion a month bond buying binge. With Apple's iPad going on sale worldwide today, I see great sales coming for the retail sector as the public buys into the holiday season.
One major concern on the horizon is the roll-out of the “Affordable Care Act” (Obamacare), which is going to have an effect on one sixth of the economy here in the United States. So far, the roll-out has been a big disappointment, as many people are seeing potential increases in their insurance rates with this new plan. If rates increase substantially, then that money will be coming out of the economy, which will not necessarily be a good thing. [Read more...]