HaiKhuu Weekly Recap & Analysis
May 13 - May 17, 2024
MAJOR EVENTS OF LAST WEEK
Major Indices’ Weekly Movement:
S&P 500: +1.74%
Nasdaq: +1.27%
Dow Jones: +1.87%
Highlights:
Gamestop was getting halted to the upside and reached $80, surging 150% in the last 5 days
The S&P 500, Nasdaq 100, and the Dow Jones all reached new all-time highs
CPI for April just came in at +3.4% YoY in line with expectations
CPI for April just came in at +0.3% MoM below expectations of 0.4% MoM
Fed’s Chairman Powell says restrictive policy may take longer than expected and it's not likely the next move would be a rate hike
DAILY EVENT BREAKDOWN
Monday, May 13
Stock Related News:
Gamestop was getting halted to the upside and reached $80, surging 150% in the last 5 days
Arm Holdings is planning to launch AI chips by next year
Johnson & Johnson announced plans to fully sell out of Kenvue
Intel is in advanced talks for a transaction in which Apollo Global would supply more than $11billion to help the chip giant build a plant in Ireland
Microsoft plans to spend $4.3B in building cloud and AI infrastructure in France, and set up a data center in the country
Walgreens Boots Alliance is reaching out to potential buyers of the $8.8 billion Boots drugstore chain in the UK
Apple is preparing to sell its Vision Pro outside the US for the first time
Squarespace announced plans to go private for $44/share in cash
Amazon’s self-driving robotaxi unit is being investigated by the U.S. government’s highway safety agency after two of its vehicles braked suddenly and were rear-ended by motorcyclists
Walmart is cutting hundreds of corporate jobs and asking most remote workers to move to offices
Economic News:
NY Fed 1-Year Consumer Inflation Expectations 3.30% (Forecast 3.00%)
Major Indices:
S&P 500: +0.01%
Nasdaq: +0.23%
Dow Jones: -0.18%
Tuesday, May 14
Stock Related News:
Elon Musk’s owned xAI has been talking to Oracle executives about spending $10 billion to rent cloud servers from the company over a period of years
Carnival announced its entire fleet of cruise ships is now equipped with SpaceX's Starlink internet
Google CEO Sundar Pichai said its Generative AI chatbot Gemini is now integrated into Google products touching 2 Billion people
He also says said it will be one of the first companies with Nvidia'sBlackwell GPUs which will be available in early 2025
Economic News:
PPI for April came in at +2.2% YoY in line with expectations
PPI for April came in at +0.5% MoM above expectations of +0.3% Mo
Fed’s Chairman Powell says restrictive policy may take longer than expected and it's not likely the next move would be a rate hike
Major Indices:
S&P 500: +0.46%
Nasdaq: +0.64%
Dow Jones: +0.28%
Wednesday, May 15
Stock Related News:
Netflix is finalizing a deal to acquire exclusive rights to stream two NFL games on Christmas Day
Uber announced starting today Costco will be available as an on-demand option within Uber Eats in select locations across the US
Disney CEO Bob Iger said marketing expenses at its Disney+ streaming service are too high and will be cut as the company seeks to make a profit in that business by the end of its fiscal year
Economic News:
CPI for April just came in at +3.4% YoY in line with expectations
CPI for April just came in at +0.3% MoM below expectations of 0.4% MoM
Major Indices:
S&P 500: +1.24%
Nasdaq: +1.56%
Dow Jones: +0.94%
Thursday, May 16
Stock Related News:
The S&P 500 reached an all-time high of $531.52
The Nasdaq 100 reached all-time highs of $454.69
The Dow Jones reached a new all-time high of $401
OpenAI and Reddit Signed a Partnership on ChatGPT Content, Advertising
Reddit shares surged 14% on the news
Microsoft is asking hundreds of employees in its China based cloud-computing and AI divisions to consider transferring outside the country amid escalating tensions between the US and China
Northrop Grumman announced an agreement for access and use of Nvidia AI software to "accelerate development of some of the most advanced systems"
Tesla has won approval for its expansion of its Giga Berlin factory, after a meeting between community members and local officials
Economic News:
Jobless Claims:
Initial 222k (Forecast 220k, Previous 231k, Revised 232k)
Continued 1.794M (Forecast 1.78M, Previous 1.785M, Revised 1.781M)
Housing Starts Number 1.36M (Forecast 1.421M, Previous 1.321M, Revised 1.287M)
Change MoM 5.7% (Forecast 7.6%, Previous -14.7%)
Building Permits Number 1.44M (Forecast 1.48M, Previous 1.467M, Revised 1.485M)
Change MoM -3% (Forecast 0.9%, Previous -3.7%)
Export Prices MoM 0.5% (Forecast 0.2%, Previous 0.3%)
Import Prices MoM 0.9% (Forecast 0.3%, Previous 0.4%)
Major Indices:
S&P 500: +0.94%
Nasdaq: +1.28%
Dow Jones: +0.88%
Friday, May 17
Stock Related News:
Google reached a new all-time highs of $176.19
OpenAI’s long-term AI risk team has disbanded
GameStop released its preliminary Q1 revenue of between $872M-$892M vs expectations of $1.05B
Apple is planning for a thinner iPhone in 2025
Microsoft plans to put latest Call of Duty Game on subscription service
Pentagon is weighing Microsoft licensing upgrades
Tesla is pushing a plan for Chinese data centers to power its AI
Boeing shareholders have voted to re-elect its CEO Dave Calhoun to the board
Economic News:
Fed's Bowman said Inflation's decline in the latter half of last year was temporary and will remain cautious in rate change decisions
“I am willing to hike if inflation progress stalls or reverses”
Leading Index Change MoM -0.6% (Forecast -0.3%, Previous -0.3%)
Major Indices:
S&P 500: +0.16%
Nasdaq: +0.22%
Dow Jones: +0.36%
