Fast Money Blog- 10/21/22

On Friday, October 21st, the Dow Jones Industrial Average closed up over 700 points, ending a great week for earnings and fundamentals on Wall Street.

Here are just a few highlights:

Netflix, Inc. (NFLX) added more than 2.4 million additional subscribers and the stock rose 14% after reporting their earnings.

United Airlines Holdings (UAL) reported excellent earnings due to increased demand for passenger travel.

AT&T (T) had strong growth in both wireless and fiber broadband subscribers.

Bank Of America (BAC) reported strong consumer spending, consumer loans and consumer deposits.

Because earnings are revealing themselves to be excellent we have further proof that the economy is strong. This is why the Federal Reserve wants to slow down inflation- so the costs of goods and services don’t escalate further from here.

Stay patient. Be positive.

At some point the stocks in your portfolio will rise.

Tyrone Jackson, The Wealthy Investor