To The Moon

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Last Fri, 14 July 2023, 3 US top banks (international) reported their Q2 2023 earnings in the morning. At first glance, they looked like credible results and the pre-market indicators turned “optimistic”. In the end, US market had a “mixed” closing (see below). DJIA: +0.33 (+113.89 to 34,509.03). Best performing index! S&P 500: -0.10% (-4.62 to 4,505.42). Nasdaq: -0.18% (-24.87 to 14,113.70). Honestly, I don’t think the banks are doing that “well” despite the quarterly earnings data released so far. Firstly, corporate clients are not providing as much of a lift, which is hurting banks that rely on them heavily. Corporates are dragging their feet, mainly due to: (see below) Continuous interest hike; inflating cos

Looking back, the S&P 500 index has had a strong performance in 2023. As of Fri, 14 Jul 2023, it has gained +17.82% year-to-date (YTD), see below. S&P 500 - YTD performance Of the index’s 500 companies, Technology sector has been the best performing sector; rising by +21.65% by Q1 2023. Some of the biggest gainers include: $NVIDIA Corp(NVDA)$. $Meta Platforms, Inc.(META)$. $Tesla Motors(TSLA)$. $Salesforce.com(CRM)$. These companies have benefitted from: Strong earnings. Semiconductor industry performance. Artificial intelligence (AI) applications. Cloud computing services. However, analysts are sounding alarms on