To The Moon

Twin Peaks. Two economic reports out last Fri, 30 Aug 2024 helped to push US market to close on a “high”. The 2 reports were: Personal spending - July 2024. Core Personal Consumption Expenditure (PCE) - July 2024. Oon Friday, all indexes closed on a high. (see above) DJIA: +0.55% (+228.03 to 41,5636.08, recording wins for last week. S&P 500: +1.01% (+56.44 to 5,648.40) posts 4th straight winning month. Nasdaq: +1.13% (+197.19 to 17,713.62) but overall dragged down by Tech losses. Personal Spending report. US consumer spending had a solid finish in July 2024, implying US economy remained on firmer ground early in the Q3 2024. It rose by +0.5% after advancing by an unrevised +0.3% in June 2024, Economists polled by Reuters had forecast spending would accelerate by 0.5% also. As a result, data runs against the touted half-percentage-point (-0.50%) interest rate cut from the Fed, come mid-September. Consumer spending report from US Commerce Department also showed prices rising moderately in July 2024, curbing inflation. Personal Consumption Expenditure report. July PCE Inflation Highlights Headline PCE (MoM) rose by +0.2%, in line with FactSet consensus forecast, following an increase of 0.1% in June 2024. Core PCE (MoM) rose by +0.2%, in line with forecasts, following an increase of same quantum in June 2024. Headline PCE (YoY) rose +2.5%, below forecasts of 2.6% increase, following an increase of the same amount in June 2024. Core PCE (YoY) rose +2.6%, below forecasts of 2.7% increase, following an increase of the same quantum in June 2024. As noted by Morningstar, Chief US economist, Preston Caldwell — “Core” inflation has fallen to a 2.1% annualized rate in the past 3 months, after jumping to 5.5% in March, caused by a spike in “Financial services” category. US Jobs and Labour reports will take centerstage in this new trading week & month of September 2024. Will they be able to fuel US market higher this week? Jobs opening & Labour turnover surveys (JOLTs) - Tue, 03 Sep. US ADP employment report - Wed, 04 Sep. US weekly jobless claims - Thu, 05 Sep. US Non-farm payroll - Fri, 06 Sep*. US Unemployment report - Fri, 06 Sep*. ‘*’ - reports that will generate most interest and exert most influence on US market. Quarterly Earnings. Companies’ quarterly earnings will continue to be released until 26 Sep 2024; with the bulk of meg cap companies already completed theirs; leaving a handful of companies to report. Below is possible interest for the week: $Broadcom(AVGO)$ - Fri, 06 Sep. $Docusign(DOCU)$ - Fri, 06 Sep. $NIO Inc.(NIO)$ - Fri, 06 Sep. Will September 2024 be one of the months when the S&P 500 went up in month of September since 1928? Must Read: Click on below titles to access. Give a like & help to Repost ok. Thanks. SpaceX - Investment New Frontier ! Invest now ? TSLA: Sell & Exit before it's Too Late ? NVDA stops Jobs worry & falling Consumer confidence ? Do you think US market will continue to power through the 1st week of September ? Do you think September 2024 will be part of 44% of September since 1928 that performs well ? If you find this post interesting, give it wings! ️ Repost and share the insights ? Do consider “Follow me” and get firsthand read of my daily new post. Thank you. @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents