Future101 @Future101: "💰 𝐖𝐞𝐞𝐤𝐥𝐲 𝗦𝘂𝗺𝗺𝗮𝗿𝘆 💰 Week Ending..."

Philippines

💰 𝐖𝐞𝐞𝐤𝐥𝐲 𝗦𝘂𝗺𝗺𝗮𝗿𝘆 💰 Week Ending 5/24/2024 𝐖𝐡𝐚𝐭 𝐡𝐚𝐩𝐩𝐞𝐧𝐞𝐝? - The $SPX500 (SPX500 Index (Non Expiry)) edged up this week as gains in the technology and communication services sectors offset declines elsewhere. Investors are trying to reconcile an unexpected acceleration in the US manufacturing purchasing managers' index in May against a month-over-month decline in US consumer sentiment, though the decline was smaller than the market predicted. Signs of faster-than-expected economic activity prompt investors to pull back on their bets for rate cuts. - Nvidia's $NVDA (NVIDIA Corporation) shares surged 15% as the business reported stronger-than-expected fiscal Q1 earnings and revenue, which helped to lift the technology sector. Nvidia also projected fiscal Q2 revenue that was higher than the average expectation of analysts at the time. Analog Devices $ADI (Analog Devices Inc) revenue and adjusted earnings per share for the fiscal Q2 exceeded expectations, and the company's shares increased 8.6%. On the downside, energy fell 3.8%, followed by a 3.7% drop in real estate and a 2.0% decline in financials. Other sectors down by more than 1% each included consumer discretionary, consumer staples, health care and utilities. 𝐖𝐡𝐚𝐭 𝐡𝐚𝐩𝐩𝐞𝐧𝐬 𝐧𝐞𝐱𝐭? - US markets will be closed on Monday for the Memorial Day holiday. Companies reporting quarterly results later next week include $CRM (Salesforce Inc) $COST (Costco Wholesale Corp) and $DELL (Dell Technologies Inc C) while economic data will include May consumer confidence on Tuesday, the first revision to Q1 gross domestic product on Thursday and the April personal consumption expenditures index, a closely watched inflation measure, on Friday. Weekly Performance: @Future101- (+4.8%) $SPX500 (SPX500 Index (Non Expiry)) - (+1.37%) $NSDQ100 (NASDAQ100 Index (Non Expiry)) - (+0.15%) - To all those who have recently copied me, I would like to say thank you and welcome. Having said that, I would want to thank you sincerely for your ongoing support. Maintaining composure and patience is essential. Cheers to everyone's weekend. - Disclaimer: This is just an opinion and is not a financial advice.