Mid-week market update: Stock market price momentum has been strong, but I did warn about possible October surprises in an election year (see S&P 500 breakout or fake-out?). In particular, I highlighted the risks of a port strike and an Israeli incursion into Lebanon, both of which have become reality.
Despite plenty of warnings, the share prices of logistics shipping giants FedEx and UPS didn't react until the strike was announced. A prolonged strike has the potential to devastate the Black Friday and Christmas shopping season and reduce Q4 GDP growth.
Here are some of the other challenges that face the market.
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