Diamonds and Dogs

10/24/22

Upgrade for AT&T (T). AT&T is up 2.5% as the analyst at Raymond James upgraded the stock for the first time in three years thanks to better-than-expected earnings and more confidence the company can deliver on strong cash flow to keep paying their 5% dividend. 

Investing in China looks less fruitful. The Hong Kong index fell 6% to a 13 year low while shares of Alibaba (BABA) are down 15% following the reelection of President Xi Jinping to a third term with many of his loyalists picking up key positions. Shares of Wynn Resorts (WYNN) is down 7% which has a large casino in Macau. A lot of uncertainty going forward in China. Unfortunately, President Xi Jinping is ding what Putin was doing a decade ago. Not a good sign.