Weekly Market Update

freeeeee fallin crypto :(

This is a weekly market update (I post daily to TikTok). I publish these once a week (beta phase), as well as single stock pieces (1-3x a month) and macro deep-dives. I also publish on TikTokYoutube, and Twitter!

Youtube linked here :)

What Happened in the Stock Market this week?

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The Stock Market

The crypto selloff seemed to cast a shadow over the hype and fervor of the market. The market ended the week green, but the week ended in a selloff across the Nasdaq and S&P, with only the almighty DJIA in the green to cap the week off.

  • Tech ended the week stronger - after a bit of weakness at the beginning of this week, a carryover from last week, we saw the bigger names get a boost this week.

  • But value continues to outperform, as cyclicals and utilities gain

  • VIX is still above 20, but has compressed from the Wednesday high of 25

  • Lots of talk about inflation and the market was spooked by the crypto selloff (speculative flows dried up *everywhere*)


Market Movers


Economic Data

  • The Citi U.S. Economic Surprise Index went negative for the first time

  • Philadelphia Fed Survey - like Home Depot, many firms are expecting to 1) charge higher prices and 2) boost worker pay

    • Pretty big print in the PMI as firms figure all the current (and upcoming) cost burdens

  • Everyone is talking about inflation - my most recent piece addresses the narrative of inflation (the power of words in the public mind) and the inflation perpetuation cycle. The more we talk about it, the more we manifest it.


Economic Policy

  • The Fed is talking about CBDCs! After saying that they had virtually no interest, they have changed their tune- their white paper will come out this summer

    • They also plan to be a “leader” in establishing standards for CBDCs internationally, which will be very interesting

  • A lot of states have begun to pullback their unemployment benefits - which will be an interesting test of the labor market


Crypto


Next Week

Earnings

  • NVDA: NVIDIA

  • AZO: Autozone

  • Retailers: URBN, JWN, and AEO

  • SNOW: Snowflake

  • BBY: Best Buy

  • ULTA

  • DG: Dollar General and DLTR: Dollar Tree - This will be interesting!

  • COST: Costco

  • CRM: Salesforce

Economic data!!

Disclaimer: This is not financial advice or recommendation for any investment. The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.