HaiKhuu Weekly Recap & Analysis
September 11 - September 15, 2023
MAJOR EVENTS OF LAST WEEK
Major Indices’ Weekly Movement:
S&P 500 -1.10%
Nasdaq -1.32%
Dow Jones -0.54%
Highlights:
Arm Holdings ($ARM) IPO’d at $56.10 and reached a high of $69, valuing the company over $60 Billion
The UAW has announced that they will strike against Ford ($F), General Motors ($GM) and Stellantis ($STLA)
Apple held its annual product event that introduced the iPhone 15, a new watch series, and improved features across the Apple ecosystem
DAILY EVENT BREAKDOWN
Monday, September 11
Qualcomm ($QCOM) announced a pact with Apple ($AAPL) for chip supply, extending Qualcomm’s modem chip contract for three more years
JM Smucker ($SJM) is acquiring Hostess Brands ($TWNK) for $34.25/share in a cash and stock deal
Kellogg ($K) announced its board of directors has approved the company's pending plan to split itself into 2 entities, Kellanova ($K) and WK Kellogg ($KLG)
The separation is expected to become effective on October 2nd, 2023
NY Fed Inflation Expectations:
August 3-year ahead expected inflation at 2.8% vs July’s 2.9%.
August 5-year ahead expected inflation at 3% vs July’s 2.9%
1-Yr Inflation Expectations Actual 3.63% (Previous 3.55%)
Leafly ($LFLY) announced a 1:20 reverse stock split
Tesla ($TSLA) shares surged 10% after an analyst predicted a $600 billion boost from its Dojo Supercomputers
Major Indices:
S&P 500 +0.66%
Nasdaq +1.18%
Dow Jones +0.25%
Tuesday, September 12
Amazon ($AMZN) announced "Supply Chain by Amazon", offering sellers end-to-end supply chain management across all sales channels
Ford, BMW, and Honda agreed to create Chargescape, a new company focused on optimizing electric vehicle grid services
The WWE and UFC have merged to form the TKO Group ($TKO)
US Redbook YoY Actual 4.6% (Previous 4.1%)
94/97 economists polled said the Fed will keep the Fed funds rate unchanged at 5.25% - 5.50% on September 20
Apple ($AAPL) held its annual product event that introduced the iPhone 15, a new watch series, and improved features across the Apple ecosystem
British Petroleum's ($BP) CEO resigned with immediate effect over the failure to fully disclose past relationships with colleagues
Birkenstock ($BIRK) filed for an IPO with a valuation of $7-8 billion
Major Indices:
S&P 500 -0.55%
Nasdaq -1.11%
Dow Jones -0.05%
Wednesday, September 13
CPI Data:
Core CPI YoY Actual 4.3% (Forecast 4.3%, Previous 4.7%)
Core CPI MoM Actual 0.3% (Forecast 0.2%, Previous 0.2%)
CPI MoM Actual 0.6% (Forecast 0.6%, Previous 0.2%)
CPI YoY Actual 3.7% (Forecast 3.6%, Previous 3.2%)
FTX received court approval to liquidate $3.4 billion in crypto assets
Google is laying off hundreds of people across its global recruiting team
US Federal Budget Balance Actual 89.3B (Forecast -230B, Previous -221.00B)
August budget surplus due to revenue added from student-loan reversal
US Congressman Tom Emmer introduced a bill to ban the Federal Reserve from creating a CBDC
Major Indices:
S&P 500 +0.12%
Nasdaq +0.38%
Dow Jones -0.19%
Thursday, September 14
Jobless Claims:
Initial 220k (Forecast 225k, Previous 216k)
Continued 1.688M (Forecast 1.6925M, Previous 1.679M)
US PPI:
PPI YoY 1.6% (Forecast 1.3%, Previous 0.8%)
PPI MoM 0.7% (Forecast 0.4%, Previous 0.3%)
Core PPI MoM 0.2% (Forecast 0.2%, Previous 0.3%)
Retail Sales MoM Actual 0.6% (Forecast 0.1%, Previous 0.7%)
Core Retail Sales MoM 0.6% (Forecast 0.4%, Previous 1.0%)
Retail Sales YoY 2.47% (Previous 3.17%)
US Business Inventories MoM Actual 0.0% (Forecast 0.1%, Previous 0.0%)
Arm Holdings ($ARM) IPO’d at $56.10 and reached a high of $69, valuing the company over $60 Billion
Disney ($DIS) reported that they are in early talks with Nexstar ($NXST) for the possible sale of ABC
Disney cut its target for Disney+ streaming subscribers
Major Indices:
S&P 500 +0.86%
Nasdaq +0.82%
Dow Jones +0.98%
Friday, September 15
The UAW has announced that they will strike against Ford ($F), General Motors ($GM) and Stellantis ($STLA)
NY Fed Manufacturing Actual 1.9 (Forecast -10, Previous -19.00)
Export Prices MoM Actual 1.3% (Forecast 0.4%, Previous 0.7%)
Import Prices MoM Actual 0.5% (Forecast 0.3%, Previous 0.4%)
Johnson & Johnson ($JNJ) changed its logo for the first time in over 130 years
Industrial Production MoM Actual 0.4% (Forecast 0.1%, Previous 1.0%)
Manufacturing Output MoM Actual 0.1% (Forecast 0.1%, Previous 0.5%)
Capacity Utilization Actual 79.7% (Forecast 79.3%, Previous 79.3%)
University Michigan Data:
Sentiment Prelim 67.7 (Forecast 69, Previous 69.5)
1 Yr Inflation Prelim 3.1% (Forecast 3.5%, Previous 3.5%)
5 Yr Inflation Prelim Actual 2.7% (Forecast 3%, Previous 3.0%)
Expectations Prelim 66.3 (Forecast 65, Previous 65.5)
Major Indices:
S&P 500 -1.60%
Nasdaq -1.78%
Dow Jones -1.16%
