To The Moon

Wall Street took a breather as sentiment turned cautious ahead of key inflation data over the weekend; Chinese markets were sluggish on disappointing earnings.

🇺🇸 S&P 500: -0.31% 📉

🇺🇸 Nasdaq: -0.27% 📉

🇪🇺 Stoxx 600: 0.04% 📈

🇯🇵 Nikkei 225 Index: -1.16% 📉

🇭🇰 Hang Seng Index: -0.16% 📉

🇨🇳 CSI 300 Index: -0.54% 📉

• U.S. stocks fell, with the S&P 500 and Nasdaq Composite both down -0.3%, with markets reeling as inflation concerns remain elevated ahead of this weekend's PCE data.

• Asia-Pacific markets fell, with the Hang Seng Index and CSI 300 down -0.2% and -0.5% respectively, as investors remained cautious ahead of this week's full-year results from 26 index members, while the yuan reset higher against the US dollar every day. The daily reference exchange rate hit the largest single-day gain this year. The Nikkei 225 fell -1.2%, retreating from record highs as markets digested fresh inflation data.

💡 Things you need to know today: 💡

1. Oil prices have risen steadily this year, with Brent crude oil and West Texas Intermediate crude oil rising by about 11% and 12.5% respectively, due to market expectations that interest rates will fall back in the summer, geopolitical tensions have increased, and the Russian government ordered a reduction in oil prices. Oil production, Russian and Ukrainian energy infrastructure have come under attack, contradicting United Nations calls for a ceasefire in Gaza. This condition will be bullish for $Occidental(OXY)$ .

Oil

2. China has introduced new guidelines that mean U.S. microprocessors will be phased out of government PCs and servers, banning the use of Intel $Intel(INTC)$  and AMD chips, and also seeking to phase out Microsoft's Windows operating system and foreign-made databases software and switch to domestic software.

Trade ban again?

3. $Boeing(BA)$  CEO Dave Calhoun will resign before the end of the year, a move that is part of a broader management shakeup in the wake of the company's safety crisis, especially the 737 MAX in January. The mid-air fuselage panel breakage, coupled with production delays and quality issues, has caused the stock price to drop by a quarter since then.

Dave Calhoun

4. United Airlines shares fell 3.4% after the Federal Aviation Administration announced increased regulations due to recent safety incidents, including the discovery of an external panel missing from a United aircraft during landing in Oregon on March 15. 

United Airlines

✅ KEY TAKEAWAYS:

Markets were on track for a fifth straight monthly gain, with major U.S. indexes hitting new highs last week, rising 2.3% and 2.9% respectively, helped by the Federal Reserve's pledge to cut interest rates three times and investors' continued enthusiasm for technology stocks amid an artificial intelligence-fueled rally.

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