HaiKhuu Weekly Recap
July 10 - July 14, 2023
MAJOR EVENTS OF LAST WEEK
Major Indices’ Weekly Movement:
S&P 500 +2.53%
Nasdaq +3.60%
Dow Jones +2.32%
Highlights:
Meta’s “Threads” reached 100m users in 5 days, the fastest platform growth ever
CPI came in lower than expected:
US CPI YoY Actual 3.0% (Forecast 3.1%, Previous 4.0%)
US Core CPI YoY Actual 4.8% (Forecast 5%, Previous 5.3%)
US CPI MoM Actual 0.2% (Forecast 0.3%, Previous 0.1%)
US judge rules XRP is not a security and caused Ripple and the Crypto markets to rally. XRP’s price jumped 30% on the news
DAILY EVENT BREAKDOWN
Monday, July 10
Meta’s “Threads” reached 100m users in 5 days, the fastest platform growth ever
US Wholesale Inventories MoM Rev. Actual 0% (Forecast -0.1%, Previous -0.1%)
US Wholesale Sales MoM Actual -0.2% (Forecast 0.3%, Previous 0.2%)
Fed's Barr says their will be "enhanced capital standards" for the biggest banks
The new rules mean the biggest banks need an extra $2 of capital for every $100 of risk-weighted assets
Extended enhanced capital standards to banks with $100b in assets, down from $700b
NY Fed Inflation Expectations:
1 year inflation expectations fall to 3.8% vs 4.1%. (lowest level since April 2021)
3 year-ahead expected inflation remains unchanged at 3% in June
5 year ahead expected inflation at 3% in June vs 2.7% in May
Major Indices
S&P 500 +0.25%
Nasdaq +0.03%
Dow Jones +0.64%
Tuesday, July 11
Microsoft wins FTC fight to buy Activision Blizzard
A California judge has allowed Microsoft to proceed with the acquisition of Activision Blizzard, rejecting the FTC’s request for a preliminary injunction. The share buyout price for Activision (ATVI) is $95
Major Indices
S&P 500 +0.64%
Nasdaq +0.49%
Dow Jones +0.90%
Wednesday, July 12
CPI came in lower than expected!
US CPI YoY Actual 3.0% (Forecast 3.1%, Previous 4.0%)
US Core CPI YoY Actual 4.8% (Forecast 5%, Previous 5.3%)
US CPI MoM Actual 0.2% (Forecast 0.3%, Previous 0.1%)
US Core CPI MoM Actual 0.2% (Forecast 0.3%, Previous 0.4%)
SPY hit a new 52-week high in the pre-market session after CPI came out
Elon Musk has created a Twitter account for his new AI startup xAI
U.S. consumers spent $6.4 billion online in the first 24 hours of Amazon Prime Day, up by 6% year-on-year
Major Indices:
S&P 500 +0.80%
Nasdaq +1.26%
Dow Jones +0.29%
Thursday, July 13
US Initial Jobless Claims Actual 237k (Forecast 250k, Previous 248k)
US Continued Jobless Claims Actual 1.729M (Forecast 1.72M, Previous 1.720M)
US PPI MoM Actual 0.1% (Forecast 0.2%, Previous -0.3%)
US PPI YoY Actual 0.1% (Forecast 0.4%, Previous 1.1%)
Ripple XRP soars 30% after US judge rules it's not a security.
St. Louis Fed President Bullard announced he is stepping down in August to become a Dean at Purdue
Meta plans to release a commercial AI model to compete with ChatGPT
Major Indices:
S&P 500 +0.79%
Nasdaq +1.70%
Dow Jones +0.08%
Friday, July 14
University Michigan Data:
Sentiment Prelim Actual 72.6 (Forecast 65.5, Previous 64.4)
Condition Prelim Actual 77.5 (Forecast 70.5, Previous 69.0)
5 Yr Inflation Prelim Actual 3.1% (Forecast 3%, Previous 3.0%)
1 Yr Inflation Prelim Actual 3.4% (Forecast 3.1%, Previous 3.3%)
Expectations Prelim Actual 69.4 (Forecast 62, Previous 61.5)
U.S. President Joe Biden's administration will cancel $39 billion in student debt for more than 804,000 borrowers - Education Department
Major Indices
S&P 500 -0.14%
Nasdaq -0.20%
Dow Jones +0.29%
