To The Moon

1.Major Indexes ReturnsThe major US indexes traded in a narrow range for the second week in a row. The $S&P 500(.SPX)$ and the $DJIA(.DJI)$ both added around 1% to record their fourth positive week out of the past five and the $NASDAQ(.IXIC)$ generated a fractional gain.The $Cboe Volatility Index(VIX)$ that measures investors’ expectations of short-term U.S. stock market volatility fell for the 4 week in a row.As of last Friday, the$Straits Times Index(STI.SI)$ gained 1.28% last week and

Public Holidays Nil Economic Calendar (17 Apr 2023) This was the update from the week ending 14 Apr 2023: The biggest good news is CPI dropped YoY from 6.0% previous month to 5.0% (much lesser than the 5.2% estimate) PPI came out to be -0.5% compared to 0.1%. This is the inflation that hits producers first (before being passed downstream to the consumers seen in CPI). This implies that there is a chance for some components of CPI to be lowered in the coming update. Crude Oil Inventories ended with an excess of 0.597M compared to an expected drawdown of 0.583M. This implies that the demand looks to be weaker than expected. Initial Jobless Claims came out higher (239K compared to the expected 232K). There is more unemployment than expected. Retail Sales came out to be more disappointing tha

My investing muse - CPI, bank and AI The earnings of the Big 3 banks (JP Morgan, Citibank & Wells Fargo) came out to be better than expected. It gave a strong start to the earnings season. However, the Big 3 banks have benefited as consumers moved their deposits out of smaller/regional banks. Most of these have ended up with the Big 4 (including Bank of America). The banking crisis is yet over. With the latest interest rate hike, the banking sector would have incurred more unrealized losses to their long-term assets like bonds and treasuries. Though these could be held on till maturity but these would also be one of the first assets to be liquidated in event of a bank run. CPI came out to be much lesser than anticipated. The market breathed a sigh of relief with YoY falling from 6.0% l

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