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- 🐂 All time high for the S&P and DJ
🐂 All time high for the S&P and DJ
⛔ Plus, the Fed ain't cutting rates.
Wyatt from Alts
January 22, 2024
This week, options guru Benedict Maynard will tell you how to hedge last week’s all time highs. Make sure to subscribe if you want the full briefing.
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📰 Market Headlines
The S&P 500 finally hit an ATH last week as equity indices rallied across the board. Futures are up significantly this morning. Next stop, 5,000.
Friday’s gains officially put the US into a bull market from the October 2022 low.
Traders are now anticipating a 47% chance of a Fed cut in March, down from 81% last week. That’s still way above the forecasts on Kalshi.
Two big macro reports come out this week that will guide the Fed:
December GDP on Thursday (2.3% on Kalshi), 2.4% via the Fed itself. A Dow survey has it much lower, at 1.7%. I expect it to come in slightly hot.
The PCE, an inflation measure the Fed prefers to CPI because it excludes irrelevant products like food and energy, is out Friday. Forecasts are around 3.0% YoY, up from 2.6% in November, and that feels about right to me.
Ron DeSantis dropped out of the Presidential election and endorsed Trump.
Congrats to the 49ers, Ravens, Chiefs, and Lions (not a typo), who all advanced in the NFL playoffs over the weekend.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🧠 What do you think?
Both the Dow Jones and S&P 500 hit all-time highs. Where do we go from here?Make your case in the comments. |
🎤 What you said last time
You guys really get around! I’m glad S&I has a place in your heart, though.
One or two others
“Zacks for general, Seeking Alpha for income, yours is more fun!”
📈 Trends you need to know
Search results are from our friends at Glimpse, my favorite way to spot trends.
It’s a two-horse race for the GOP presidential nomination, but Nikki Haley is moving in the right direction. Is it too late?
📊 Stocks
Want to invest like Buffet? With Public.com, you can emulate Berkshire Hathaway’s portfolio with just a few clicks.
Winners and losers
Earnings, upgrades, and acquisitions
Sony has terminated its $10 billion merger with Zee.
Market movers
ExxonMobil has sued its investors to block a climate proposal.
OpenAI’s Sam Altman is raising billions to fund an NVIDIA competitor in the AI chips space.
Goldman Sachs has closed a $650 million fund to invest in the “golden age” of biotech innovation.
Hollywood might strike again.
Sports Illustrated fired most of its staff.
Ideas, trends, and analysis
Cramer is bearish. So load up on out-of-the-money S&P 500 calls ASAP.
Eight out-of-favor stocks that are worth a look.
Is Tesla about to fall out of the Mag 7?
Take a look at Asia’s home rental market. It could be the next big thing.
What does the BTC ETF mean for Coinbase?
Southeast Asian stocks are bargain basement right now. Value trap?
🌍 Global Perspectives
🇨🇳 🇷🇺 China continues to defy Russian oil sanctions and has become the pariah regime’s biggest customer.
🇷🇺 🇺🇦 Ukraine imposed its own explosive sanctions on Russian oil over the weekend, and Russia has begun to retaliate.
🇨🇳 Moody’s may downgrade China.
🇨🇳 🇺🇸 The future of China-US relations looks grim.
🇮🇱 Israel’s Netanyahu continues to isolate Israel from the international community.
🇸🇦 Saudi Arabia is moving into solar power and is looking to become an AI tech hub.
🇮🇳 India’s middle and upper classes continue to consume more and more.
🧠 Errata
You may be surprised to learn how much Walmart store managers make.
Winter storms have killed more than 90 people in the USA.
Some idiots tried to break the son of a cartel hitman out of police custody; twelve of them died.
Florida home insurance prices continue to moon.
A Congressional trading ban might actually happen.
📺 What to Watch Today
A Montana-esque fourth-quarter comeback for the 49ers’s Brock Purdy.
That’s all for today. Did we miss anything? Smash the reply button to let us know.
Cheers,
Wyatt
