📰 WEEKLY MARKET AND PORTFOLIO REPORT 💼
Hey Investors,
It has been a very big week, I hope you had a good week and have a nice weekend planned 😀. Let’s take a look at this past week. Apologies I haven’t posted as much this week, it has been a big week at work.
📮 IN THIS POST
⒈ Portfolio Update
⒉ Big Events From The Week (FTX, Midterms, CPI)
💼 PORTFOLIO UPDATE
📁 This week was a big week in the markets and our portfolio, we saw a big gain this week of 🟢 6.08%.
📁 We kept things quiet this week not making any new investments or closing any positions in our portfolio.
📁 This wasn’t planned, but funds were deposited into our account this week. It is a long story, but essentially there were a couple of issues with my payment methods here on eToro. All is good, but this months funds have been deposited. We will continue with our plan to invest these funds on November 18th and December 2nd into NOBL, along with small potions going into VOO. (VOO is where we invest our kids college fund)
🗞 BIG EVENTS FROM THE WEEK
There were 3 big events from this week that we are going to look into.
👉 The first big thing of the week that happened and caused a pullback in the market was the midterm elections. The results from this are still coming in, but why did it cause a pullback. The market rallied a bit into the elections thinking there would be a big Republican win in the House and Senate causing a government that can’t do much which is what he market likes. However it appears while the Republican Party will take the house and senate, it is going to be very close causing the market to be a little shakier.
👉 The second thing that took place was the FTX saga which is still going on. This hit the crypto market. FTX is split into 2 areas FTX US and FTX International. FTX International faced liquidity issues this week essentially meaning people trying to withdraw their money found they couldn’t. When this began to spread there became a run on the platform to withdraw funds. This then began to spread to FTX US and the saga is still continuing with the US government wanting to crack down on Crypto.
❓ What are we doing with our Crypto? Well it has taken a hit, but things like this is why we keep such a small percentage of our portfolio in Crypto. So we will continue to hold our positions and if things settle in the coming months we may add a small portion.
👉 The CPI number came out this week on Thursday and caused a massive rally in the market giving us the best week since June. CPI came in at 7.7% raising 0.4% month to month which was quite a bit lower than expected. This cause the Nasdaq to jump over 7% the S&P500 gained just over 5%. The FED has come out and said that one good month does not mean we have had history over inflation.
🙏 That sums up our week 😀, thank you for reading if you have any questions or thoughts please feel free to comment below or send a message.
Invest with Nate on eToro https://etoro.tw/3gFJj9j
I hope you have a great weekend,
Nate