The View from 5th Avenue

The View from 5th Avenue – 26 October 2023

When futures are indicated lower and the tape wobbly throughout the trading session, it makes navigating through earnings trickier than normal, the margin for error is so fine, there is no room for mishap on any metric. A slide in big tech sent the stock market to its lowest since May after another round of disappointing earnings. The S&P 500 dropped 1.2%, edging closer to a “correction” — with the index down almost 10% from its July peak, while the Nasdaq 100 sank nearly 2%. With that said, ra…

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