Market Call: 'Dangerous Times'

Strategy I: Middle East's Existential Crisis. Jamie Dimon is probably right. On October 13, the CEO of JPMorgan Chase sounded the alarm on the global effects of the wars in the Middle East and Ukraine. “This may be the most dangerous time the world has seen in decades,” he said in a statement accompanying the bank’s quarterly earnings. He warned of “far-reaching impacts on energy and food markets, global trade and geopolitical relationships.” 

The war between Israel and Hamas might have escalated into a regional one on Thursday. That’s when a US warship heading south in the Suez Canal over a period of nine hours intercepted and destroyed four cruise missiles and 15 drones heading toward Israel from Yemen. The missiles were fired by Iranian-backed Houthi forces in Yemen and were launched “potentially towards targets in Israel,” according to the Pentagon’s press secretary. In response, the US fired sea-launched cruise missiles at Houthi radar facilities in Yemen, according to a CNN report.