HaiKhuu Weekly Recap
July 17 - July 21, 2023
MAJOR EVENTS OF LAST WEEK
Major Indices’ Weekly Movement:
S&P 500 +0.69%
Nasdaq -1.08%
Dow Jones +2.19%
Highlights:
The U.S. Federal Reserve is launching "FedNow," a service to modernize the country's payment system, allowing Americans to send and receive funds in seconds, 24/7
Apple is racing to develop its own generative AI to compete with OpenAI
Elon Musk says Tesla is in talks with a major automaker to license Tesla’s Full Self-Driving technology
DAILY EVENT BREAKDOWN
Monday, July 17
Treasury Secretary Janet Yellen says she doesn’t expect a recession in the US
Goldman Sachs cut its US recession odds for the next 12 months to 20% from 25%
Empire State Manufacturing Survey Actaul 1.1 (Forecast 0, Previous 6.6)
Microsoft kicked off its hotly-anticipated court hearing with the UK antitrust agency today as it moves closer to sealing the $69 billion Activision Blizzard deal
A UK court has halted the UK veto case in its deal to acquire Activision
Elizabeth Warren just sent a letter to the SEC urging it to investigate Tesla and its board of directors over possible “conflicts of interest" from Elon Musk buying Twitter and becoming its CEO
Ford announced it is significantly cutting the price of the Ford Lightning
All versions got price cuts of at least $6K, with the base model starting at $50K
Major Indices:
S&P 500 +0.35%
Nasdaq +0.93%
Dow Jones +0.20%
Tuesday, July 18
US Retail Sales
MoM Actual 0.2% (Forecast 0.5%, Previous 0.3%)
YoY Actual 1.49% (Previous 1.61%)
Core Retail Sales MoM Actual 0.2% (Forecast 0.3%, Previous 0.1%)
US Industrial Production MoM Actual -0.5% (Forecast 0%, Previous -0.2%)
US Manufacturing Output MoM Actual -0.3% (Forecast 0%, Previous 0.1%)
US Capacity Utilization Actual 78.9% (Forecast 79.5%, Previous 79.6%)
US NAHB Housing Market Index Actual 56 (Forecast 56, Previous 55)
Microsoft 365 businesses will have to pay $30 per user per month extra to get access to Copilot
Microsoft reached all-time highs following the news ($366.78)
Major Indices:
S&P 500 +0.74%
Nasdaq +0.82%
Dow Jones +1.08%
Wednesday, July 19
US Housing Starts Number Actual 1.434M (Forecast 1.48M, Previous 1.631M)
Change MoM Actual -8% (Forecast -9.3%, Previous 21.7%)
US Building Permits Number Actual 1.44M (Forecast 1.5M, Previous 1.496M)
Change MoM Actual -3.7% (Forecast 0.2%, Previous 5.6%)
Apple is racing to develop its own generative AI to compete with OpenAI
Netflix Earnings:
EPS $3.29, beating $2.85 estimate
Sales $8.19B, missing 8.29B estimate
Added 5.89M new subscribers in 2Q
Tesla Earnings:
EPS of $0.91, beating expectations of $0.82
Revenue of $24.9B, beating expectations of $24.7B
Elon Musk says Tesla is in talks with a major automaker to license Tesla’s Full Self-Driving technology
Major Indices:
S&P 500 +0.22%
Nasdaq -0.02%
Dow Jones +0.32%
Thursday, July 20
Initial Jobless Claims Actual 228k (Forecast 240k, Previous 237k)
Continued Jobless Claims Actual 1.754M (Forecast 1.722M, Previous 1.729M)
Amazon said it plans to roll out its palm-payment technology to all Whole Foods locations in the U.S. by the end of the year
Existing Home Sales Actual 4.16M (Forecast 4.21M, Previous 4.30M)
Change Actual -3.3% (Forecast -2.09%, Previous 0.2%)
Leading Index Change MoM Actual -0.7% (Forecast -0.6%, Previous -0.7%)
The U.S. Federal Reserve is launching "FedNow," a service to modernize the country's payment system, allowing Americans to send and receive funds in seconds, 24/7
Major Indices:
S&P 500 -0.66%
Nasdaq -2.31%
Dow Jones +0.50%
Friday, July 21
Amazon will invest $120 Million in a satellite processing facility at NASA’s Kennedy Space Center in Florida
The 100,000-square-foot processing facility will serve as one of the final steps before the low Earth orbit Project Kuiper internet satellites reach orbit
The White House is bringing in 7 of AI’s top companies today to make a series of voluntary promises to protect users
The companies Amazon, Anthropic, Google, Inflection, Facebook, Microsoft, and OpenAI — have all agreed to address many of the risks posed by artificial intelligence
The number of daily active users on Facebook's “Threads” dropped to 13 Million this week, down 70% from its July 7th peak
Disney-owned ESPN has held early talks about strategic partnerships with the NBA and NFL that could include the leagues taking an equity stake in the business
Major Indices:
S&P 500 +0.06%
Nasdaq -0.35%
Dow Jones -0.01%
