HaiKhuu Weekly Recap & Analysis
July 15 - July 19, 2024
MAJOR EVENTS OF LAST WEEK
Highlights:
CrowdStrike pushed a software update that caused a massive Microsoft outage in banks, airlines, and businesses worldwide
Trump Media and Tech Group stock surged 75% at the peak following an assassination attempt on Donald Trump
Shares of semiconductor stocks were down due to the potential for tighter restrictions on chip exports to China
Major Indices’ Weekly Movement:
S&P 500: -2.35%
Nasdaq: -4.35%
Dow Jones: +0.14%
Monday, July 15
Stock Related News:
Apple reached a new all-time high of $237.23
Trump Media and Tech Group stock surged 75% at the peak following an assassination attempt on Donald Trump
Apple shipped over 45.2 million iPhones in Q2, up from 44.5 million a year earlier, and secured the 2nd position in the market with a 15.8% share of shipments, down from 16.6% in the same quarter last year
Google is eyeing a deal to acquire cybersecurity startup Wiz for roughly $23 billion
General Motors CEO said its 1 million EV target will not be hit
Broadcom officially completed its 10:1 split, opening at $170
Macy's has terminated buyout talks with Arkhouse Management and Brigade Capital Management
Economic News:
Fed Chair Powell emphasizes not waiting for inflation to hit 2% before cutting rates, and any unexpected labor market weakening would prompt a reaction.
Powell acknowledges progress in inflation reduction and expects continued economic slowdown and inflation progress this year.
He notes the economy's strong performance, believes a hard landing is unlikely, and expresses long-term concern over running deficits
Major Indices:
S&P 500: +0.28%
Nasdaq: +0.27%
Dow Jones: +0.51%
Tuesday, July 16
Stock Related News:
SPY reached a new all-time high of $565.16
Uber announced it’s rolling out a new feature that lets users see average wait times and costs for rides in more than 10,000 cities
The market is now pricing in a 100% chance that Jerome Powell and the Fed will cut rates by September
The SEC told asset managers that US Ether ETFs could launch July 23rd
Elon Musk announced that he will move the SpaceX & X Headquarters to Texas
TikTok entered a partnership with Eventbrite that would allow any TikTok user to become “event creators” and seamlessly promote and sell tickets directly to the TikTok community
Economic News:
Retail Sales MoM 0% (Forecast -0.3%, Previous 0.1%)
Core MoM 0.4% (Forecast 0.1%, Previous -0.1%)
Business Inventories MoM 0.5% (Forecast 0.5%, Previous 0.3%)
Major Indices:
S&P 500: +0.59%
Nasdaq: +0.04%
Dow Jones: +1.81%
Wednesday, July 17
Stock Related News:
Donald Trump has expressed consideration of JPMorgan CEO Jamie Dimon for the Treasury Secretary position, and he has assured that he will not seek to displace Fed Chairman Powell
Google and Microsoft helped Chinese firms skirt ban on Nvidia chips
GitLab is considering a sale transaction and is attraction interest from Datadog
Shares of semiconductor stocks were down due to the potential for tighter restrictions on chip exports to China
Economic News:
Industrial Production MoM 0.6% (Forecast 0.3%, Previous 0.9%)
YoY 1.58% (Forecast -, Previous 0.39%)
Manufacturing Output MoM 0.4% (Forecast 0.1%, Previous 0.9%)
Major Indices:
S&P 500: -1.40%
Nasdaq: -2.94%
Dow Jones: +0.55%
Thursday, July 18
Stock Related News:
The Dow Jones reached an all-time high of $413.86
Amazon announced that shoppers spent a record $14.2 billion online during the 48-hour Amazon Prime Day event, with total online sales rising 11% from last year
Apple is in talks to license more films from Hollywood
OpenAI has debuted a mini AI model named "GPT-4o Mini"
Ford is investing $3 Billion to boost Super Duty Production and adding a new plant to meet surging demand
Block plans to shut down its Cash App platform in the UK
Economic News:
Jobless Claims:
Initial 243k (Forecast 229k, Previous 222k)
Continued 1.867M (Forecast 1.856M, Previous 1.852M)
Leading Index Change MoM -0.2% (Forecast -0.3%, Previous -0.5%)
The International Monetary Fund recommended that it would be prudent for Fed to wait for clearer evidence that inflation is sustainably returning to 2% target before cutting rates
Major Indices:
S&P 500: -0.77%
Nasdaq: -0.47%
Dow Jones: +0.09%
Friday, July 19
Stock Related News:
CrowdStrike pushed a software update that caused a massive Microsoft outage in banks, airlines, and businesses worldwide
Tesla halted some of its production lines due to the Microsoft-CrowdStrike outage
Serve Robotics surged 240% after Nvidia disclosed a 10% stake in the company
Unilever has kicked off initial discussions with buyout firms about a possible sale of its ice cream business, which could be worth as much as $19.4 billion
Occidental is exploring selling a 30% ownership stake in its recent Permian Basin acquisition to EcoPetrol SA
Economic News:
Fed's Williams said central banks must own the inflation control mission and that price stability is key to financial stability
Major Indices:
S&P 500: -0.66%
Nasdaq: -0.77%
Dow Jones: -0.92%
