HaiKhuu Weekly Recap & Analysis
December 4 - December 8, 2023
MAJOR EVENTS OF LAST WEEK
Major Indices’ Weekly Movement:
S&P 500: +1.01%
Nasdaq: +1.57%
Dow Jones: +0.57%
Highlights:
Google unveiled Gemini, a large language model to compete with OpenAI
The first CRISPR gene-editing treatment has been approved by the FDA for use in the US for sickle cell disease
AMD announced the launch of Instinct MI300X
AMD’s CEO Lisa Su claims it’s the highest-performance accelerator in the world for generative AI
DAILY EVENT BREAKDOWN
Monday, December 4
Stock Related News:
Spotify announced they are laying off 17% of its staff
Alaska Air (ALK) is buying Hawaiian Holdings (HA) for $1.9 Billion in cash
IBM unveiled its next-gen quantum processor and IBM Quantum System Two which it hopes will be the building blocks of much larger systems starting in 2033
Twilio (TWLO) announced it will cut 5% of its workforce in its third major headcount reduction
S&P on Real Estate Sector:
Expect US and European housing markets to face pressure, given worsening housing affordability
We expect rental housing demand in 2024 to remain healthy, albeit at a slower pace
Economic News:
Factory Orders MoM -3.6% (Forecast -3%, Previous 2.8%, Revised 2.3%)
Durable Goods Revised -5.4%, same as forecast and previous
Core Durable Goods 0%, same as forecast and previous
Major Indices:
S&P 500: -0.52%
Nasdaq: -0.93%
Dow Jones: -0.11%
Tuesday, December 5
Stock Related News:
Meta and IBM are joining more than 40 companies and organizations to create an industry group dedicated to open-source artificial intelligence work, aiming to share technology and reduce risks
Ford is partnering with Xcel Energy (XEL) to install 30,000 EV charging ports across the U.S. by 2030
Microsoft introduced Deep Search, a new Microsoft Bing feature that provides even more relevant and comprehensive answers to the most complex search queries
Nvidia will build a network of semiconductor plants in Japan in partnership with the country’s companies to meet demand for artificial intelligence
Economic News:
S&P PMI
Services 50.8 (Forecast 50.8, Previous 50.8)
Composite 50.7 (Forecast 50.7, Previous 50.7)
US ISM Services:
PMI 52.7 (Forecast 52.3, Previous 51.8)
Prices Paid 58.3 (Forecast 58, Previous 58.6)
New Orders 55.5 (Forecast 54.9, Previous 55.5)
Employment 50.7 (Forecast 51.4, Previous 50.2)
Major Indices:
S&P 500: -0.02%
Nasdaq: +0.25%
Dow Jones: -0.20%
Wednesday, December 6
Stock Related News:
McDonald’s aims to open nearly 9,000 restaurants and add 100 million loyalty members by 2027
Apple quietly released frameworks and model libraries designed to run on its chips and maybe bring generative AI apps to MacBooks
Apple is planning new iPad Air, iPad Pro, and Macbook Air models, readying them for a spring release
JPM CEO Dimon’s thoughts on crypto:
"If I was the government I'd close it down"
"The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance"
AMD announced the launch of Instinct MI300X
AMD’s CEO claims its the highest-performance accelerator in the world for generative AI
Economic News:
ADP Employment Change 103k (Forecast 130k, Previous 113k)
Labor Costs Revised -1.2% (Forecast -0.9%, Previous -0.8%)
Productivity Revised 5.2% (Forecast 4.9%, Previous 4.7%)
Trade Balance -64.3B (Forecast -64.2B, Previous -61.5B)
Major Indices:
S&P 500: -0.40%
Nasdaq: -0.58%
Dow Jones: -0.19%
Thursday, December 7
Stock Related News:
Robinhood expanded crypto trading to the European Union
Mcdonald’s launched their first spinoff store, CosMc’s
The first 4x leveraged SPY ETF went live under the ticker $XXXX
Amazon is piloting a new grocery subscription for Prime Members to get unlimited delivery from Whole Foods & Amazon Fresh
Boeing (BA) announced that they are slowing 737 production ramp-up by about 2 months
Tesla's Dojo supercomputer project lead Ganesh Venkataramanan has left the company
Economic News:
Jobless Claims:
Initial Claims 220k (Forecast 220k, Previous 218k)
Continued Claims 1.861M (Forecast 1.91M, Previous 1.927M)
Wholesale Sales MoM -1.3% (Forecast 1%, Previous 2.2%)
Wholesale Inventories MoM Rev. -0.4% (Forecast -0.2%, Previous -0.2%)
Consumer Credit Actual 5.134B (Forecast 8.5B, Previous 9.06B)
Major Indices:
S&P 500: +0.76%
Nasdaq: +1.40%
Dow Jones: +0.17%
Friday, December 8
Stock Related News:
The FTC is examining the nature of Microsoft's investment in OpenAI and whether it may violate antitrust laws
The first CRISPR gene-editing treatment has been approved by the FDA for use in the US for sickle cell disease
Nvidia will discuss cooperation deals on semiconductors with Vietnamese tech companies and authorities in a meeting on Monday in Hanoi
Apple’s head of iPhone and watch design has left the company
SPY hit a new 52-week high of $460.75
Economic News:
Employment Report:
Unemployment Rate 3.7%, Forecast 3.9%
Labor Force Participation 62.8%, Forecast 62.7%
Private Payrolls 150k, Forecast 158k
Average Earnings MoM 0.4%, Forecast 0.3%
Nonfarm Payrolls 199k, Forecast 183k
University of Michigan Economic Data:
Sentiment 69.4 (Forecast 62, Previous 61.3)
1 Yr Inflation 3.1% (Forecast 4.3%, Previous 4.5%)
5 Yr Inflation 2.8% (Forecast 3.1%, Previous 3.2%)
Expectations 66.4 (Forecast 57, Previous 56.8)
Condition 74 (Forecast 68.5, Previous 68.3)
Major Indices:
S&P 500: +0.50%
Nasdaq: +0.49%
Dow Jones: +0.49%
