HaiKhuu Weekly Recap & Analysis
February 5 - February 9, 2024
MAJOR EVENTS OF LAST WEEK
Major Indices’ Weekly Movement:
S&P 500: +0.80%
Nasdaq: +0.88%
Dow Jones: +0.24%
Highlights:
SPY reached a new all-time high on Friday trading at $501.65
Fox, ESPN, and Warner Bros. Discovery are creating a joint streaming platform to share sports assets including games from the NFL and NBA
Disney takes a $1.5 billion stake in Epic Games, working with Fortnite to create new content
Google has retired Bard and has rebranded Bard to Gemini
DAILY EVENT BREAKDOWN
Monday, February 5
Stock Related News:
Ozempic maker Novo Nordisk struck an $11B deal with Catalent as it rushes to meet massive weight-loss drug demand
Snapchat announced plans to cut global workforce by 10%
Several senior Snapchat executives were laid off
YouTube (Google) now says it has a Vision Pro app on its roadmap
The average rate on a new 30-year fixed mortgage crossed back above 7% for the first time since December
Economic News:
S&P Services PMI Final 52.5 (Forecast 52.9, Previous 52.9)
S&P Composite PMI Final 52 (Forecast 52.4, Previous 52.3)
ISM Services:
PMI 53.4 (Forecast 52, Previous 50.6)
Prices Paid 64 (Previous 57.4)
New Orders 55 (Previous 52.8)
Employment 50.5 (Previous 43.3)
Fed's Goolsbee: I don't want to rule out a March cut.
“I won't speculate on the potential for a 50 bps cut”
Major Indices:
S&P 500: -0.36%
Nasdaq: -0.13%
Dow Jones: -0.73%
Tuesday, February 6
Stock Related News:
Fox, ESPN, and Warner Bros. Discovery are creating a joint streaming platform to share sports assets including games from the NFL and NBA
JPMorgan said it plans to open more than 500 new branches and hire 3,500 workers over the next three years
Taiwan Semiconductor said it will open a second manufacturing plant in Japan with backing from Sony and Toyota
Amazon's healthcare units, including One Medical and Amazon Pharmacy, are conducting layoffs as part of a broader cost-cutting campaign
DocuSign to lay off 6% of workforce, or about 440 jobs
WeWork founder Adam Neumann and capital providers Dan Loeb’s Third Point are trying to buy back WeWork after it filed for bankruptcy in November
Economic News:
No Economic News
Major Indices:
S&P 500: +0.29%
Nasdaq: -0.20%
Dow Jones: +0.39%
Wednesday, February 7
Stock Related News:
Disney takes a $1.5 billion stake in Epic Games, working with Fortnite to create new content
This values Epic Games at $22.5 Billion
Apple researchers have released a new open-source AI model called “MGIE” that is capable of editing images based on a user's natural language instructions
Apple is reportedly building prototypes of at least two iPhones that fold widthwise like a clamshell
Disney increased its dividend by 50% and CEO Bob Iger says they will prioritize dividend payments and share repurchases in the coming years
Target is considering a new paid membership program similar to Amazon Prime or Walmart+
Coca-Cola announced its first new permanent Coke flavor in 3 years
Coca-Cola Spiced and Coca-Cola Spiced Zero Sugar
ESPN will launch its flagship direct-to-consumer service in either August or the fall of 2025
Economic News:
US Trade Deficit -$62.2B (Previous -$61.9B, Forecast -$62.1B)
Consumer Credit $1.5B (Previous $23.4B, Forecast $15B)
Major Indices:
S&P 500: +0.83%
Nasdaq: +1.03%
Dow Jones: +0.41%
Thursday, February 8
Stock Related News:
Google has retired Bard and has rebranded Bard to Gemini
Google is releasing Gemini Ultra, its most capable large language model yet which will cost $20 per month
Hawaiian Airlines is beginning flights with free WiFi from Elon Musk's Starlink
Microsoft said Activision Blizzard had plans to lay off workers before its merger with Microsoft
Last month, Microsoft announced it was cutting ~8% of its games division’s of 22,000 employees — that’s about 1,900 workers at Activision Blizzard, Xbox and ZeniMax
Emirates airline forged a multi-year sponsorship deal with America's NBA
Economic News:
Jobless Claims:
Initial Claims 218k (Forecast 220k, Previous 224k)
Continued Claims 1.87M (Forecast 1.88M, Previous 1.90M)
Wholesale Inventories
Wholesale Inventories MoM Revised 0.4% (Forecast 0.4%, Previous 0.4%)
Wholesale Inventories MoM Advance 0.4% (Forecast -0.2%, Previous -0.2%)
Major Indices:
S&P 500: +0.04%
Nasdaq: +0.19%
Dow Jones: +0.18%
Friday, February 9
Stock Related News:
SPY reached a new all-time high trading of $501.65
Nvidia is building a new business unit focused on designing custom chips for cloud computing firms and others, including advanced AI processors
Sam Altman is seeking $7 Trillion to “reshape business of chips and AI”
Google CEO says it has crossed 100 Million Google One subscribers
X (formerly Twitter) has been selling special ad packages tied to the NFL playoffs and Super Bowl, which include video ads that run before NFL highlight videos
Disney is reportedly paying Taylor Swift more than $75 million to exclusively stream “Taylor Swift: Eras Tour (Taylor’s Version),” on Disney+
Economic News:
Consumer Price Index (CPI) Revisions:
December CPI revised to +0.2% (prev +0.3%)
December CPI exfood/energy unrevised at +0.3%.
November CPI revised to +0.2% from +0.1
October revised to +0.1% from unchanged
Revised 4Q core CPI unchanged at 3.3% annualized increase
