UPDATE

🌤️ Happy Tuesday

Good morning. We hope the past two weeks have been productive and you're looking forward to the fall holiday season. Sunday was the end of Daylight Savings time, meaning you should now see it getting darker earlier in the day (relative to before).

Today is also Election Day for many local & state propositions, as well as several off-season candidate elections. Regardless of what's on your ballot this November, we encourage you to vote!

Read time: 3 minutes

WEEK IN REVIEW

📈 Market Performance

S&P 500 (5-day), via Google Finance

When we last talked about the S&P 500 index, things weren’t looking great. From mid-October to just before Halloween, the index saw a roughly 6% decline in value. This had many worried, from casual investors to big banks, about what the 2023 overall performance would turn out to be. 

As with many trends in the stock market, however, this decline turned out to be short-lived. Remember, here at MARK IT. we try to take a long-term view to investing. This roughly one-month dip illustrated that recoveries can happen quickly. 

• One factor potentially helping the performance of the index is the news that the Fed and Chairman Jerome Powell did not raise rates during last week’s meeting. 

• As always, it’s hard to say whether rates will hold, decline, or go up next time around, but two consecutive rate holds may be good news for borrowers. 

💻 New Macs, Same Stock Price?

Apple Macbook Pro, via Wikimedia Commons

Last Monday was Apple’s (somewhat surprising) Scary Fast event, where the company announced its new Macbook Pros. While nothing much changed regarding the hardware for the new computers, it was the internals that had many Apple enthusiasts raving. 

Apple introduced its M3 chip series, the third generation of its own custom-designed chips. The switch from Intel computer chips to Apple Silicon chips has been very well received by Mac users. 

• These chips are manufactured by Taiwan Semiconductor Company (TSMC), a company that we’ve talked about in the past. 

While the announcement of these new machines was a good sign for the company’s innovation ability, AAPL stock didn’t react much. Analysts argue that as the company leans into more predictable product release cycles, the stock of the company is unlikely to react much as the market will preemptively price in any releases. 

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via Surfshark media

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BRAIN TEASERS

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🤝 Keep in Touch

• For general announcements or updates on what we're working on, follow Abbas on Twitter 👉 @RealAbbasAkhtar

• Also, we want to hear your feedback! Send any comments or suggestions to [email protected]

Thanks again for reading!

Nothing MARK IT. publishes constitutes professional and/or financial advice, nor does any information published by MARK IT. constitute a comprehensive or complete statement of the matters discussed.