Friday Oct 29, 2021

Reality Strikes With A Vengeance: GDP, Apple, And Amazon Report.

There are many who will miss the historic impact of yesterday. In the history of modern finance, this was as large a disconnect between reality and the market's behavior as we'll ever see.

In the span of a day, we went from the euphoria of all-time record highs in the NASDAQ and S&P 500, to some of the most crushing economic news ever. When first the Nation's Gross Domestic Product was reported to be far below the growth level that the Street assumed. And this was followed later in the afternoon, by two huge misses by two of the market's leaders: Amazon and Apple.

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