Jobs and earnings are major themes next week as we consider more portfolio moves

Wall Street pulled back this week as investors focused more on higher bond yields, tensions in the Middle East, and energy price dynamics than they did corporate earnings. Even where quarterly results were strong, we saw selling pressure hit the stocks as investors jumped on any and every negative comment as an excuse to book profits and raise cash. Negative as the price action has been, we don't think all the negativity is warranted. Yes, risks are elevated.

Traders work on the floor at the New York Stock Exchange in New York City, U.S., October 27, 2023.Wall Street pulled back this week as investors focused more on higher bond yields, tensions in the Middle East, and energy price dynamics than they did corporate earnings. Even where quarterly results were strong, we saw selling pressure hit the stocks as investors jumped on any and every negative comment as an excuse to book profits and raise cash.

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