Payne's Perspecive: November 1, 2021: What a Glorious Time to be Free
It was a great week and a perfect end to a month that lived up to the hype. In fact, the script was perfect with early jitters carried over from September and the occasional air pockets here and there, which gave way to a flurry into the waning days of the month.
Interestingly, even as the overwhelming consensus grew that interest rates would surge again; they stalled and turned lower.
That development helped growth regain the lead, even as Facebook slumped under pressure from that damning investigation and then a worrisome earnings report. Then, finally, the good news- the company changed its name to ‘Meta’ in honor of its commitment to shift to a digital world with no legal oversight -the Metaverse. The stock symbol will change from FB to MVRS begging December 1.
I joke (a little), but mega-cap growth did lift the rest of the market into the stratosphere.
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