HaiKhuu Weekly Recap & Analysis
December 16 - December 20, 2024
MAJOR EVENTS OF LAST WEEK
Highlights:
FOMC Interest-Rate Decision:
Jerome Powell and the Fed cut rates by 25BPs (0.25%) down to between 4.25%-4.50%
Party City will close its doors after 40 years of operation
TikTok and its Chinese parent company asked the US Supreme Court to block a government ban set to take effect next month
Major Indices’ Weekly Movement:
S&P 500: -2.45%
Nasdaq: -2.68%
Dow Jones: -2.54%
Monday, December 16
Stock Related News:
TikTok and its Chinese parent company asked the US Supreme Court to block a government ban set to take effect next month
Softbank CEO Masayoshi Son will announce a $100 billion investment in the U.S. over the next 4 years during a Monday visit to President-elect Donald Trump’s residence Mar-a- Lago
Google announces Whisk, generative AI using images as prompts
Meta’s Ray-Ban Meta smart glasses are getting several new AI-powered upgrades, including the ability to have an ongoing conversation and translate between languages
Amazon Web Services just announced plans to invest $10 Billion into Ohio in order to “help meet rapidly growing demand for cloud computing and AI”
Economic News:
Empire State Manufacturing Survey:
(Previous 31.2, Actual 0.2)
Services PMI:
(Previous 56.1, Actual 58.5)
Manufacturing PMI:
(Previous 49.7, Actual 48.3)
Major Indices:
S&P 500: +0.43%
Nasdaq: +1.44%
Dow Jones: -0.23%
Tuesday, December 17
Stock Related News:
CrowdStrike moves to dismiss Delta Air Lines suit, citing contract terms
Walmart has started giving store-level associates body camera to wear as part of a pilot program
SoFi Technologies announced today it now has more than 10 Million members
Salesforce CEO Marc Benioff will bring on 2,000 more salespeople specializing in AI
Honda and Nissan have reportedly started talks about a possible merger and EV competition
Economic News:
Retail Sales:
(Previous 0.5%, Actual 0.7%)
Home Builder Confidence Index:
(Previous 46, Actual 46)
Major Indices:
S&P 500: -0.41%
Nasdaq: -0.44%
Dow Jones: -0.64%
Wednesday, December 18
Stock Related News:
FOMC Interest-Rate Decision:
Jerome Powell and the Fed cut rates by 25BPs (0.25%) down to between 4.25%-4.50%
Jerome Powell and the Fed say they expect to cut rates 2 time (0.50%) in 2025
From Jerome Powell:
Inflation much closer to 2% goal
Total PCE probably rose 2.5% in the 12 months ending in November
Inflation expectations remain well anchored
Slower pace of rate cuts reflects expectations of higher inflation
It might take another year or two from here to get to 2%, slower pace of rate cuts reflects expectation of higher inflation
Foxconn has been discussing acquiring Nissan as part of plans to expand its nascent electric-vehicle business
Google owned Wing is expanding its drone delivery service to Doordash customers in the Dallas-Fort Worth area
Supreme Court will hear arguments over TikTok divestment law
KFC just announced a new restaurant concept called “Saucy”
“Sauce and dips are the star at :Saucy,” a prototype opening next Monday in Orlando. The restaurant, which ditches the chain’s familiar red for pink, is centered around 11 new dips and chicken tenders”
Apple has cancelled a project within Apple Pay to build an iPhone hardware subscription service
Economic News:
Housing Starts:
(Previous 1.31M, Actual 1.29M)
Building Permits:
(Previous 1.42M, Actual 1.51M)
Major Indices:
S&P 500: -2.98%
Nasdaq: -3.61%
Dow Jones: -2.61%
Thursday, December 19
Stock Related News:
Apple is in talks with Tencent and ByteDance about integrating their AI models into iPhones sold in China
Apple said Facebook’s Meta “has made 15 interoperability requests thus far, more than any other company, for potentially far-reaching access to Apple’s technology stack that could affect users’ privacy
Microsoft bought nearly 500,000 Nvidia Hopper chips this year
Tesla is in early discussions with the city of Austin about its autonomous vehicle technology it hopes to roll out on Texas roads as early as next year
Walmart’s founding family the Waltons said today that internal governance of their ownership interest in Walmart will expand to include its next generation
Economic News:
Initial Jobless Claims:
(Previous 2.8% Actual 3.1%)
Philadelphia Fed Manufacturing Survey:
(Previous -5.5, Actual -16.4)
Existing Home Sales:
(Previous 3.96M, Actual 4.15M)
Major Indices:
S&P 500: -0.03%
Nasdaq: -0.45%
Dow Jones: +0.07%
Friday, December 20
Stock Related News:
Party City will close its doors after 40 years of operation
Fed’s Daly said:
My projection is it will take many fewer rate cuts next year than we had thought
Fed’s Goolsbee:
Interest rates will come down by a ‘judicious amount’ next year
Netflix secures exclusive rights to Fifa Women’s World Cup for 2027 and 2031
The EU has unconditionally approved the Nvidia’s proposed acquisition of Israeli startup Run:ai
Economic News:
Personal Income:
(Previous 0.7%. Actual 0.3%)
Personal Spending:
(Previous 0.3%, Actual 0.4%)
PCE Index:
(Previous 0.2%, Actual 0.1%)
Consumer Sentiment:
(Previous 74.0, Actual 74.0)
Major Indices:
S&P 500: +1.20%
Nasdaq: +0.90%
Dow Jones: +1.24%
