Market Snapshot 17th Oct 2023

📈 The Dow Jones Industrial Average closed 314.25 points higher, marking its sixth gain in the past seven trading sessions.

📊 The S&P 500 ended up by almost 1.1%, and the Nasdaq Composite finished 1.2% higher.

💰 Investors are preparing for earnings season and moving away from last week's safe-haven investments due to the Israel-Hamas conflict.

🌍 Despite the Middle East conflict, U.S. markets remain relatively unaffected, as the war is seen as having minimal impact unless it broadens.

🛢️ Oil prices have settled lower after a previous spike due to the Hamas attack, and they are expected to influence other asset prices.

📉 Traditional safe-havens like gold, the U.S. dollar, and Treasurys have lost ground, leading to a rise in Treasury yields.

📆 Earnings season is getting underway with major banks like Bank of America, Goldman Sachs, and BNY Mellon set to report results.

📚 Jitters about the potential for a broader war in the Middle East persist as analysts and investors remain concerned.

🚀 The Israel-Hamas conflict could escalate, potentially leading to more oil disruptions, although markets are showing resilience.

📉 The New York Fed's Empire State business-conditions index indicates deteriorating economic conditions in the state.

💊 Rite Aid filed for bankruptcy due to opioid-related debt, while Pfizer announced cost reductions and Lululemon joined the S&P 500.