๐ฐ ๐๐๐๐ค๐ฅ๐ฒ ๐ฆ๐๐บ๐บ๐ฎ๐ฟ๐ ๐ฐ
Week Ending 3/8/2024
๐๐ก๐๐ญ ๐ก๐๐ฉ๐ฉ๐๐ง๐๐?
- The $SPX500 (SPX500 Index (Non Expiry)) drop this week as investors sifted through mixed February employment numbers. Following remarks by Federal Reserve Chair Jerome Powell that the institution was "not far" from being able to lower interest rates, Thursday saw a record close. After the February jobs data was released on Friday morning, US markets saw a brief increase, but as investors looked more closely at the data, they ended lower. The Labor Department's monthly jobs report showed the US economy added more jobs than expected in February. However, downward revisions were made to January and December's payrolls. Also, the February unemployment rate unexpectedly rose to the highest since January 2022 and wage growth slowed.
- The weekly decrease was caused by losses in just three industries: communication services lost 0.6%, consumer discretionary fell 2.6%, and technology dropped 1.1%. A 3.2% growth in utilities outpaced the improvements in other industries. The decline in consumer discretionary was led by $TSLA (Tesla Motors, Inc.) shares. In the midst of a reported 19% year-over-year decline in Chinese vehicle sales in February, the electric vehicle company's shares fell 13%. Analysts at Morgan Stanley lowered their price objective for the company and alerted investors to the possibility that Tesla's vulnerability to a slowing market for electric cars may significantly impact free cash flow and eat into 2024 earnings. In the technology sector, $AAPL (Apple) shares fell 5% this week as Counterpoint research showed iPhone sales declined by double-digits in the key Chinese market through the first six weeks of 2024 as the company underperformed key competitors.
๐๐ก๐๐ญ ๐ก๐๐ฉ๐ฉ๐๐ง๐ฌ ๐ง๐๐ฑ๐ญ?
- Next week, economic data will include key inflation readings: the February consumer price index on Tuesday and the February producer price index on Thursday.
Weekly Performance:
@Future101- (+2.46%)
$SPX500 (SPX500 Index (Non Expiry)) - (-0.30%)
$NSDQ100 - (-1.33%)
- 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.... Show More
Hello sir. I have been copytrading you since 2021 but due to unfortunate reasons I decided to withdraw my funds from you. I would like to ask your assistance since I still have a pending close from copytrading since you have investments for QIWI ADR it has been on pending close for weeks now. I really... Show More
2 replies
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Mon Jun 23 2025 19:11:08 GMT+0000 (Coordinated Universal Time)
