HK Weekly Recap & Analysis June 12th, 2023
THE WEEK AHEAD (JUNE 12TH – JUNE 16TH)
KEY ECONOMIC DATA RELEASES TO WATCH
MARKET RECAP FROM THE PREVIOUS WEEK
June 5, 2023
Apple hit all-time highs at $184.95
US S&P Services PMI Final Actual 54.9 (Forecast 55.1, Previous 55.1)
US S&P Composite PMI Final Actual 54.3 (Forecast 54.5, Previous 54.5)
US ISM Services PMI Actual 50.3 (Forecast 52.4, Previous 51.9)
US Factory Orders MoM Actual 0.4% (Forecast 0.8%, Previous 0.9%)
US Core Durable Goods Revised Actual -0.3% (Forecast -0.2%, Previous -0.2%)
SEC sues Binance and CEO Zhao for breaking the US securities rules.
Binance on the lawsuit:
Remains open to a productive compromise.
The SEC lawsuit is baseless.
We will defend ourselves against the SEC suit vigorously.
Elon says Tesla is open to licensing Autopilot/FSD technology to other companies
Apple just unveiled its new AR/VR Headset: Vision Pro
June 6, 2023
The SEC has sued Coinbase
Apple has just bought Mira, an LA-based AR startup that develops headsets for various companies and the US Military
June 7, 2023
US Trade Balance Actual -74.6B (Forecast -75.8B, Previous -64.2B)
Gamestop announced the election of Ryan Cohen as Executive Chairman
June 8, 2023
US Initial Jobless Claims Actual 261k (Forecast 235k, Previous 232k)
US Continued Jobless Claims Actual 1.757M (Forecast 1.802M, Previous 1.795M)
US Wholesale Inventories MoM Rev. Actual -0.1% (Forecast -0.2%, Previous -0.2%)
US Wholesale Sales MoM Actual 0.2% (Forecast 0.9%, Previous -2.1%)
June 9, 2023
Tesla is collaborating with General Motors to allow them access to Tesla’s charging network
Wedbush raised their price target on Tesla to $300 from $215 following the announcement of a collaboration with General Motors
The S&P 500 hit a new 52-week high
THE WEEK AHEAD & EARNINGS
Monday – 06/12/2023
Federal Budget - 2 PM ET
AM Earnings: ECARX Holdings (ECX)
PM Earnings: Oracle Corp (ORCL)
Tuesday – 06/13/2023
NFIB optimism index - 6 AM ET
Consumer price index - 8:30 AM ET
Core CPI - 8:30 AM ET
CPI year over year - 8:30 AM ET
Core CPI year over year - 8:30 AM ET
AM Earnings: None scheduled
PM Earnings: None scheduled
Wednesday – 06/14/2023
Producer price index - 8:30 AM ET
Core PPI - 8:30 AM ET
PPI year over year - 8:30 AM ET
Core PPI year over year - 8:30 AM ET
Fed decision on interest-rate policy - 2 PM ET
Fed Chairman Powell press conference - 2:30 PM ET
AM Earnings: Aurora Cannabis (ACB)
PM Earnings: Lennar Corp (LEN)
Thursday – 06/15/2023
Initial jobless claims - 8:30 AM ET
US retail sales - 8:30 AM ET
Retail sales minus autos - 8:30 AM ET
Import price index - 8:30 AM ET
Import price index minus fuel - 8:30 AM ET
Empire State manufacturing survey - 8:30 AM ET
Philadelphia Fed manufacturing survey - 8:30 AM ET
Industrial production - 9:15 AM ET
Capacity utilization - 9:15 AM ET
Business inventories - 10 AM ET
AM Earnings: Kroger (KR), Jabil (JBL), John Wiley & Sons (WLY)
PM Earnings: Adobe (ADBE)
Friday – 06/16/2023
Fed Gov. Christopher Waller speaks - 7:45 AM ET
Consumer sentiment - 10 AM ET
AM Earnings: None scheduled
