HaiKhuu Weekly Recap

August 7 - August 11, 2023


MAJOR EVENTS OF LAST WEEK

Major Indices’ Weekly Movement:

  • S&P 500 -0.68%

  • Nasdaq -2.06%

  • Dow Jones +0.27%

Highlights:

  • CPI Data: Despite the increase, the trend suggests a downward path in inflation, possibly influencing the Fed to keep interest rates unchanged

    • CPI MoM Actual 0.2%

    • Core CPI MoM Actual 0.2%

    • CPI YoY Actual 3.2%

    • Core CPI YoY Actual 4.7%

  • Disney-owned ESPN ($DIS) has entered an agreement with Penn Entertainment ($PENN) to launch ESPN BET, a branded sportsbook in the US

  • Fed's Harker: Barring alarming new data by mid-September, I believe we may be at the point where we can be patient and hold rates steady

  • Moody’s downgraded 10 US banks and put 6 major banks on review for possible downgrade


DAILY EVENT BREAKDOWN

Monday, August 7

  • Tesla ($TSLA) just announced CFO Zachary Kirkhorn has stepped down from his role at the company as of August 4th

    • Tesla has appointed Vaibhav Taneja as Chief Financial Officer in addition to his current role as Chief Accounting Officer

  • PayPal ($PYPL) has launched a US Dollar Stablecoin, "PayPal USD"

  • Warren Buffett's Berkshire Hathaway ($BRK.A) hit new all-time highs at $556,117

  • Boeing ($BA) has been awarded a $145.7 million contract by the U.S. Navy

  • Major Indices:

    • S&P 500 +0.87%

    • Nasdaq +0.85%

    • Dow Jones +1.13%

Tuesday, August 8

  • US Trade Balance Actual -65.5B (Forecast -65B, Previous -69.0B, Revised -68.3B)

  • Fed's Harker: “Barring alarming new data by mid-September, I believe we may be at the point where we can be patient and hold rates steady.”

  • Eli Lilly ($LLY) is up almost 15% after their earnings and hit a new all-time high at $523.47

  • Wholesale Sales MoM -0.7%

    • Forecast -0.2%, Previous -0.2%

  • Wholesale Inventories MoM Rev. Actual -0.5%

    • Forecast -0.3%, Previous -0.3%

  • NY Fed: Credit card balances rose 4.6% to a record $1.03T in the Q2

    • NY Fed: Total US household debt rose 0.1% to $17.06 trillion in second quarter of 2023

  • Google ($GOOGL) and Universal Music are in talks to license artists’ melodies and voices for songs generated by artificial intelligence

  • Budlight’s ($BUD) parent company will be selling Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company & Hiball Energy to Tilray ($TLRY)

  • Disney-owned ESPN ($DIS) has entered an agreement with Penn Entertainment ($PENN) to launch ESPN BET, a branded sportsbook in the US

    • Dave Portnoy has bought 100% of Barstool Sports from Penn Entertainment

  • Moody’s downgraded 10 US banks and put 6 major banks on review for possible downgrade

    • Three of the largest banks under review include Bank of New York Mellon, State Street, and US Bancorp

  • Major Indices:

    • S&P 500 -0.43%

    • Nasdaq  -0.85%

    • Dow Jones -0.45%

Wednesday, August 9

  • Walmart ($WMT) hit a new all-time high today of $162.10

  • Disney ($DIS) Earnings:

    • EPS of $1.03, beating expectations of $0.97

    • Revenue of $22.3B, missing expectations of $22.5B

  • The US Commerce Department said today that more than 460 companies have expressed interest in winning government semiconductor subsidy funding from the CHIPs act

  • The US is set to ban Private-Equity and Venture-Capital investments in some Chinese technology companies under an executive order the Biden administration will release Wednesday

  • Amazon ($AMZN) has lost two executives key to the company’s drone delivery operations

  • US credit card debt hit $1 trillion for the first time in history

  • Major Indices:

    • S&P 500 -0.67%

    • Nasdaq -1.10%

    • Dow Jones -0.49%

Thursday, August 10

  • CPI Data:

    • CPI MoM Actual 0.2%

    • Core CPI MoM Actual 0.2%

    • CPI YoY Actual 3.2%

    • Core CPI YoY Actual 4.7%

    • Despite the increase, the trend suggests a downward path in inflation, possibly influencing the Fed to keep interest rates unchanged

  • Jobless Claims:

    • Initial Claims 248k (Forecast 230k, Previous 227k)

    • Continued Claims 1.684M (Forecast 1.7065M, Previous 1.700M)

  • UPS has said that drivers will average $170,000 in pay and benefits such as health care and pensions at the end of a five-year contract

  • Major Indices:

    • S&P 500 +0.04%

    • Nasdaq +0.18%

    • Dow Jones +0.17%

Friday, August 11

  • Producer Price Index:

    • PPI YoY 0.8% (Forecast 0.7%, Previous 0.1%)

    • PPI MoM 0.3% (Forecast 0.2%, Previous 0.1% Revised 0.2%

    • Core PPI YoY 2.4% (Forecast 2.3%, Previous 2.4%)

    • Core PPI MoM 0.3% (Forecast 0.2%, Previous 0.1% Revised 0%)

  • University Michigan Data:

    • Sentiment Prelim 71.2 (Forecast 71.3)

    • Expectations Prelim Actual 67.3 (Forecast 67.3)

    • 5 Yr Inflation Prelim Actual 2.9% (Forecast 3%)

    • 1 Yr Inflation Prelim Actual 3.3% (Forecast 3.5%)

    • Condition Prelim Actual 77.4 (Forecast 76.9)

  • Sam Bankman-Fried of FTX had his bail revoked and will go back to jail ahead of his October fraud trial, on allegations of violating the terms of his bond by trying to tamper with multiple witnesses

  • Major Indices:

    • S&P 500 +0.03%

    • Nasdaq -0.50%

    • Dow Jones +0.37%


THE PAST WEEK S&P HEAT MAP & PERFORMANCE

FEAR & GREED INDEX


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HaiKhuu Daily Report 8/11/2023