To The Moon

1. MAJOR INDEXES RETURNS

• The major U.S. stock indexes posted weekly gains, with the $NASDAQ(.IXIC)$ outperforming the $S&P 500(.SPX)$ and the$DJIA(.DJI)$ for the fourth week in a row. [These 4 Types of Assets is the ​Key to Further Trend of US Stocks]

• The $NASDAQ 100(NDX)$ broke above a 9-month high on Thursday and is now hovering around the levels last seen in April last year. The growth index’s year-to-date gain was 19% as of Friday versus an essentially flat result for the value index.  

• As of last Friday, the$Straits Times Index(STI.SI)$ lost 0.19% last week and$S&P/ASX 200(XJO.AU)$ gained 0.31% weekly.

• Coming up this week: more retail earnings, housing market updates, and the Fed's preferred inflation gauge.

• In addition to tracking the latest negotiations over the U.S. government debt ceiling, many investors will be looking ahead to Wednesday’s release of minutes from the U.S. Federal Reserve’s policy meeting that concluded on May 3. The minutes could shed light on Fed officials’ recent views as to whether to pause its rate-hiking cycle or lift rates for the eleventh meeting in a row. The next meeting is June 13–14.

2. SECTORS AND STOCKS OF $S&P 500(.SPX)$

• Technology Sector top the weekly performances with 4.42% rise with $Microsoft(MSFT)$, $Alphabet(GOOG)$, $Meta Platforms, Inc.(META)$ $Amazon.com(AMZN)$ $NVIDIA Corp(NVDA)$ increased 3%~10% differently. And Utility Sector shows 4% decline with $NextEra(NEE)$ and other stocks dropped over 4% weekly.

Data from Finviz.com

• The top 10 winners of $S&P 500(.SPX)$ are $Comerica(CMA)$ , $Zions(ZION)$ , $Western Digital(WDC)$ , $Capital One(COF)$ , $Catalent(CTLT)$ , $Bath & Body Works Inc.(BBWI)$ , $ServiceNow(NOW)$ , $Micron Technology(MU)$ , $Lam Research(LRCX)$ , $Carnival(CCL)$

Data from Tiger Trade

4. MACRO FACTORS AND OTHER ASSETS

• Retail checkup: After declining in February and March, U.S. retail sales posted a modest recovery in April, rising a seasonally adjusted 0.4%. The increase was driven in part by higher spending on automobiles, dining out, and online purchases.  

• Market calm: Although U.S. government debt ceiling talks have added to the uncertainty that investors face, short-term stock market volatility expectations Index $Cboe Volatility Index(VIX)$ remained far below its recent peak in mid-March. On Friday, the Index was about 37% below its level of March 13, when bank failures triggered a round of market volatility. 07%.  

• Inflation chatter:For the third quarter in a row, the number of U.S. corporate executives mentioning the term “inflation” during their earnings conference calls has declined. FactSet reports that executives at 278 companies in the S&P 500 have discussed inflation during the nearly completed Q1 earnings season.

• Yields rebound:With investors’ eyes on U.S. government debt ceiling negotiations, the yield of the 10-year U.S. Treasury bond rose to the highest level in more than two months.

Source: BofA Global Research

5. THE WEEK AHEAD : MAY 22-26

We can expect more earnings from the retail sector this week, giving us further insights on consumer spending in the Q123. $Lowe's(LOW)$ , $AutoZone(AZO)$ , $Dick's Sporting Goods(DKS)$ , $BJ's Wholesale Club Holdings Inc.(BJ)$ , $Urban Outfitters(URBN)$ , $Costco(COST)$ , $Dollar Tree(DLTR)$ , $Best Buy(BBY)$ , $Burlington(BURL)$ will be among those reporting. We can also expect earnings from $Zoom(ZM)$ , $NVIDIA Corp(NVDA)$ .

Data by Tiger Trade

Key events the coming week:

Monday

• No major reports scheduled

Tuesday

• New home sales, U.S. Census Bureau 

Wednesday

• Release of minutes from the May 2–3 meeting of the U.S. Federal Reserve 

Thursday

• First-quarter GDP, second estimate, U.S. Bureau of Economic Analysis

• Weekly unemployment claims, U.S. Department of Labor

• Pending home sales, National Association of Realtors

Friday

• Personal Consumption Expenditure Price Index, U.S. Bureau of Economic Analysis

• University of Michigan Index of Consumer Sentiment;

• Personal income and consumer spending, U.S. Bureau of Economic Analysis

• Durable goods orders, U.S. Census Bureau  

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