Biden vs. Trump: Unprecedented Unpopularity!
#MarketTrends
Biden vs. Trump: Unprecedented Unpopularity!
As the 2024 U.S. presidential election nears, a Pew Research survey reveals that 25% of Americans dislike both Biden and Trump, marking the highest dual unfavorable ratings since 1988.
The survey included 8,638 adults and compared current favorability to previous elections, highlighting both candidates' declining popularity.
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The Insight: How To Find The Opportunities
Invest in data analytics companies leveraging political trends and public sentiment analysis tools, as interest in understanding electoral dynamics and public opinion surges, especially during contentious election cycles.
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#QuoteOfTheWeek
"Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected." – by George Soros
To capitalize on market volatility, invest in undervalued stocks or emerging sectors that others might overlook.
Profits often come from anticipating trends and disruptions that aren't immediately clear.
Diversify your portfolio with a mix of stable assets and high-risk, high-reward opportunities to navigate uncertain markets effectively.
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#News
RBA Holds Rates; Could a Hike Be Coming in August?
Australian equities finished the week on a high, with the ASX 200 rising by 0.7%.
This uptick was largely driven by strong performances in the Energy and Materials sectors, which saw increases of 4.1% and 3.3%, respectively.
A significant rally in commodity prices, spurred by a cooler-than-expected US ISM report, contributed to this growth.
The Reserve Bank of Australia's (RBA) June meeting minutes indicated that the board had considered further tightening but decided to keep rates steady at a 12-year high of 4.35%.
The RBA reaffirmed its goal to return inflation to the 2-3% target range, leaving the door open for a potential rate hike in August.
US Markets Soar; S&P 500 Hits Record High!
In the US, equity markets had a strong week despite being shortened by a holiday. The S&P 500, Dow Jones, and Nasdaq all posted gains, with the S&P 500 surpassing the 5,500 mark for the first time, fueled by significant gains in major tech stocks.
Despite mixed economic data, including lower-than-expected ADP private payrolls and initial jobless claims indicating a labor market slowdown, investor sentiment remained optimistic.
The Federal Reserve’s recent meeting minutes suggested a cautious approach to future interest rate cuts, highlighting a wait-and-see strategy amid waning price pressures.
Weak Yen, Strong Companies Propel Nikkei to New Peaks!
Across Asia, Japanese markets also had an impressive week, with the Nikkei hitting record highs.
A weak yen and strong performances from blue-chip companies contributed to this surge.
YouTube TV Subscriber Count Drops!
YouTube TV faced a subscriber decline for the first time.
Offering a cable-like service has its challenges, mirroring the fate of traditional cable.
In Q1, YouTube TV, which provides major broadcast and popular cable networks, experienced a drop in subscribers, much like traditional linear networks.
Variety reports that the end of the NFL season in Q1 and the lack of must-watch linear TV content have negatively impacted both traditional TV and virtual pay TV. Users may treat YouTube TV like other streaming services, jumping in and out depending on the season.
However, at $73 per month, YouTube TV is significantly more expensive than other streaming platforms, which usually cost between $15-20 per month, making the value-for-money aspect crucial.
Micron Misses Lofty AI Expectations, Stock Dips!
Investors were disappointed with Micron for not meeting high AI expectations. High expectations come with high risks.
Despite surpassing estimates for Q3 revenue and providing guidance for a 90% year-over-year revenue growth for Q4, the market wanted more.
As one analyst put it, "Anything less than fantastic is not good enough when your share price triples in just 18 months."
While investors sold off the stock, analysts remained optimistic and even raised their price targets, as noted in section 1.7 of Micron’s company report.
They viewed the dip in share price as an opportunity to increase their positions.
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James Lim, SFA Founder
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