US Market on 15 Feb 2023 (Wed). $TSM - Sell ? $AAPL - Buy ?
Let's get the US CPI index out of the way first ok.
Jan 2023 CPI index came in marginally "higher" than Wall Street expectations
- CPI (all items) was 6.4% vs 6.2% expected.
- CPI (core); that is less food & energy was 5.6% vs 5.4% expected.
- One other thing to note is - Jan CPI report will take some time to analyze
- This is because there's a tweek in the methodology on how the index was derived & reported.
- Component like "shether" was revised with higher weighting.
- Components like "food", "energy" were revised with lower weightings.
- Whether the "revision" in the methodology is more "accurate & reflective" of the actual US economy is still up in the air !
Inflation came in with expectations, and that’s why market took it in stride. On the 0.1% higher than expectations data, it will be the bumps along the road. But all in all, certainly seeing strong disinflation.... according to Yardeni Research .....
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By The Time Market Closed
- DJIA : -0.46% (-156.66 to 34,089.27).
- S&P 500 : -0.03% (-1.16 to 4,136.13).
- Nasdaq : +0.57% (+68.36 to 11,960.15). Bucked the trend and ended marginally higher.
No change to the Indexes Moving Averages; the respective indexes 200-day, 50-day and 20-day ma are all in "green" zone.
Is It Wise To Refer To SEC Filings For Last Quarter ?
One news piece that has been making its round centres on Berkshire Hathaway's last quarter SEC filing.
Details revealed yesterday that Berkshire Hathaway had :
- Divested some or all of its holdings in (1) $Taiwan Semiconductor Manufacturing(TSM)$ , (2) $U.S. Bancorp(USB)$ and (3) $Bank of New York Mellon(BK)$
- Added to its holdings - (a) $Occidental(OXY)$ increased its stake in this Energy stock from 26% (Sep 2022) to 28% (Dec 2022) and (b) $Apple(AAPL)$ bringing its stake to 5.8%.
- Will the stock react accordingly today when market opens ?
- For now, $TSM pre-market indicator shows a -6.14% fall in opening price. Will the fall continues or will $TSM finds support around the $89 mark ?
How Will The Market Behave Today ?
- Looking at US Pre-market indicators (above diagram) - All Red !
- Bitcoin & Ethereum prices for last hour & 24 hours (above diagram) - Green & Green !
- Asia markets (ASX - Red !, Nikkei - Red !, KOPSI - Red !, HSI - Red !)
- EU markets - -(DAX - Green !, FTSE - Red !, CAC - Green !).
Will the following stocks' quarterly earnings and official report released today, be able to buffer Market's downwards trend; taking the US pre-market indicators into considerations ?
- Retail sales report by US Census Bureau
- Cisco Systems Inc Q4 2022 earnings
- Shopify Inc Q4 2022 earnings
- The Kraft Heinz company Q4 2022 earnings
- Do you think the Market will turn for the better in later part of trading day ?
- Do you think the mentioned stocks will rise & fall accordingly after Berkshire Hathaway's buy & sell SEC filing records ?
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