Market in Review 23/2/2024

MARKET REPORT

Review:
– Dollar finishes down on week. 1st of 2024
– Best week for Bullion in 2024
– NVIDIA reaches 2T in mkt cap.
– Fed: Waller was hawkish, Cook and Williams towed the usual Fed line
– JPM’s Dimon sells 822kk shares (around $150m)
– US unveil 500 more Russian sanctions on 2yr anniversary of war
– Warner Bros Discovery -10%
– Treasury Yields down (long end)
– Overall quiet & unremarkable session

Market in Review 2/21/2024

MARKET REPORT

Review:
– NVIDIA POST RECORD REVENUE +265% ON BOOMING AI BUS POST CLOSE
– FOMC Minutes:
– altered the post-meeting statement to indicate that no cuts would be coming until the rate-setting Federal Open Market Committee held “greater confidence” that inflation was receding.
– indicated a general sense of optimism that the Fed’s policy moves had succeeded in lowering the rate of inflation
– officials noted that they wanted to see more before starting to ease policy while saying that the policy rate is likely at the peak of its cycle
– two policy makers noticed dangers of extended peak, others expressed concerns of premature easing
– Future policy depend on; data, evolving outlook and balance of risks
– Funds were unchanged 5.25/5.5 in Jan, per expectations
– Fed Funds indicate no cut Mar & May 53% likelihood cut in June
– 10yr Treasury yield rose to 4.3% on back of Minutes.
– Gold pares losses=down small, Dollar UNCH, Equities down lead by ND, Crude +1%
– NVDA -3% (Earnings)
– Woeful 20yr bond auction
– Boeing outs head 737 Jetliner program
– Indian farmers clash with police in mass protest
– German govt slashes growth forecast.

Market in Review 1/19/2024

MARKET REPORT

Review:
– S&P 500 hits record high 4820 (Prev 4818 Jan 4th, 2022)
– Shares of the so-called Magnificent Seven – Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla – surged between about 50% and 240% last year. Collectively, they account for about 28% of the S&P 500 and were responsible for nearly 66% of the index’s total return last year.
– Uni of Michigan inflation expectations fell to 2.9% for Jan vs 3.1% Dec
– Existing Home Sales hit 13 year low. Dropped by 1% to 3.78 mil for Dec, Exp 3.82 mil. Midwest and South down, increase in West, UNCH Northeast.
– EHS for 2023 the year hit 30yr low (high mortgage rates. Fun-fact ‘Mortgage’ is the combination of the Latin word Mort = Death and gage = engaged. So, mortgage literally means: to be engaged unto death.
– Fed (SF, Voting) Pres Mary Daly “it’s really premature to think that that’s around the corner,” (Cuts)

Market in Review 12/18/2023

MARKET REPORT

Review:
– Oil prices surged intraday amid more headlines of attacks, and re-routings of tankers in the MidEast with WTI psuhing up near $75 before fading back
–  Daly notes rate cuts next year could be needed
– Mester said markets are a bit ahead of the Fed on rate cuts
– Goolsbee notes may need to shift focus to jobs
– AAPL will shortly halt Apple Watch Series 9 & Watch Ultra 2 within the US
– US Steel to be acquired by Nippon Steel.
– Dollar FLAT. AUD 67.05 EUR 91.55 GPB 126.48 JPY 142.91
– Gold up smalls 2040, Si down smalls 24.10.
– DOW flat 37660, ES up smalls 4790, ND up 0.6% 16915
– Crypto: BTC touched high 40k’s before rallying back to 42400 (had low 41’s a buy yest mkt report)