Geopolitical Turmoil Hangs Over the S&P 500

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I re-read Friday’s OP a few times and I will be totally honest, I have been following and trading it. Yeah, I know I am not giving you exact points to buy and sell and I know it's not always 100% right, but like the OP has been saying, sell the early rallies overall.

As we all know, the Israeli/Hamas war is expanding into Gaza. Right now the only thing we need to pay attention to is the war and if other actors join in, the US could get dragged in also. From me to you, if terrorists hit the US, the S&P would get smoked. Losing an aircraft carrier and a large loss of US military personnel would be a horrible situation. I think once it starts, it won't stop.

JPMorgan CEO Jamie Dimon gave a stern warning to investors on Friday, saying, “Now may be the most dangerous time the world has seen in decades.” He added that the wars in Ukraine, Israel and Gaza “may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships.”

Those comments came as the bank reported a top- and bottom-line beat, but also reported a 6% drop in investment banking revenue in the third quarter and as investment banking fees fell by 3% due to lower equity and debt underwriting activity. Further, deposits fell by 4% from a year earlier during the third quarter. Dimon said, “I’m less concerned about the economic effect than obviously the geopolitical,” and went on to say, “Currently, US consumers and businesses generally remain healthy.”