Our call of the day is from Kevin Muir, the editor behind the MacroTourist newsletter. He says markets may be underestimating the force of the new SEC boss.
Stock futures are pointing south following Friday’s bad-news-is-just-bad-news jobs data. We’ve also got oil and natural-gas prices busting higher and a tricky earnings season about to begin.
Muir said while “Gensler’s mission is not to tank markets…for the first time in a long time, there is a grown-up running the SEC who’s serious about clamping down on some of the egregious behavior.” iframe.twitter-tweet { width: 100% !important; } Muir said he’s a Tesla bear largely because of Musk’s volatile personality, and the above tweets that show “he has all the judgment of a first-year frat boy.” But he said Musk has also exposed some “lax attitudes” at the SEC as other “aggressive stock promoters” have since come out of the woodwork.
Meanwhile, Dr. Anthony Fauci gave the all-clear on trick or treating this Halloween, but you might be beating back “Squid Game” players with a stick. Three U.S.-based economists shared the 2021 Nobel economics prize for work on drawing conclusions from so-called “natural experiments.”The markets Stock futures ES00, -0.34% YM00, -0.16% NQ00, -0.66% are lower, but bond markets are closed in observance of Columbus Day. In the energy space, oil CL00, +2.85% BRN00, +2.23% and natural-gas prices NG00, +0.79% are tearing higher.
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