Republic Risk: Back on "Board" (Update)

Retail numbers combined with Bank of America's earnings numbers fueled a big reversal from morning hours, pushing us into positive territory.

Garrett Baldwin

Oct 17, 2023

∙ Paid

Dear Fellow Expat:

Just a quick note…

The alligator is back on his board. Who cares about 4.8% interest rates, I guess?

Strong retail sales

Today, we’ve seen a very strong breakout on the Russell 2000 (IWM), and the S&P 500 (SPY) is clearing key resistance. Financial stocks are pushing higher, bringing the sector into Green territory. Hedge funds have been piling into the sector over the last week, according to Reuters.

Industrials are also getting a bump from strong breakouts on defense stocks.

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