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- The markets are stumbling toward 2024
The markets are stumbling toward 2024
Wyatt from Alts
17 Nov
*past 24-hour performance
💨 TL;DR
The markets were mixed to lethargic yesterday as momentum from the first half of the month waned. The market is still on track for its best month of the year, though.
Both Walmart and Cisco disappointed, which contributed to the drawdown.
Oil fell to its lowest levels since July.
Treasury yields declined following multiple reports suggesting that the economy is cooling sufficiently to eliminate the need for rate hikes to curb its growth.
📰 Market Headlines
Asian stocks were mostly lower this morning after Wall Street drifted to a mixed finish as momentum slowed following a strong rally in the first half of November.
A Labor Department report showed weekly jobless claims rose more than expected, cementing bets that the Fed will not need to raise rates further.
Money market traders are now forecasting a 62% chance of a Fed rate cut of at least 25bps by May.
Oil headed for a fourth weekly loss after sinking into a bear market as signs of healthy supplies and rising stockpiles offset attempts by OPEC+ leaders Saudi Arabia and Russia to keep declines in check.
🧠 What do you think?
What do you want to see more of from this newsletter?Ask and you shall receive |
🕶️ Market Vibes
😱 Fear and Greed Index
🎤 What you said
30% of you are putting all your eggs in the crypto basket, while commodities are the ugly stepchild.
Bonds
“A recession is right around the corner, interest rates are high, layoffs are beginning, ”
Crypto
“Bitcoin, in particular, is well suited for use as a store of value like gold. Its recent divergence from growth stocks is evidence that it is beginning to be accepted as such.”
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Shares of Walmart plunged more than 8% after it warned shoppers have begun to pull back on shopping. It also warned about a weaker-than-expected holiday season.
Amazon and Hyundai are teaming up. American consumers can now buy a car online.
Cisco slipped 9.8% even though it beat analyst estimates for the recent quarter. The drop came as the company saw slower new product orders, and its earnings outlook was weaker than what analysts had predicted.
Major oil stocks tumbled as well, with both Halliburton and Marathon Petroleum off more than 3%. Oil hit a multi-month low.
Anheuser-Busch announced that Benoit Garbe, the brewing giant's U.S. chief marketing officer, will resign at the end of the year. AB InBev’s US revenue declined 13.5% in Q3.
Thousands of unionized Starbucks employees walked off the job Thursday on "Red Cup Day."
Volkswagen is on track for its worst year of China sales since 2012 due to the country’s breakneck transition to electric vehicles.
The companies Warren Buffet bought and sold in Q3.
With crypto booming, there’s a buzz around the metaverse again. If you’re a believer, check out these three stocks.
Seven Nasdaq 100 companies have made up the vast majority of the index’s gains this year. Public lets you invest in all of them at once with their Magnificent Seven plan.
📊 And Income
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Ten-year Treasury yields fell to 4.54%. They were above 5% just last month.
If you want to invest in US stocks from companies that pay high dividends but don’t want to do the research yourself, check out Public’s High-Income Dividend-Paying plan. It follows the top 20 holdings by weight from the iShares Core High Dividend ETF (HDV).
🌎 Global Perspectives
🇬🇧 Retail sales in the UK have hit their lowest levels since the October 2021 lockdown.
🇧🇩 Bangladesh’s ongoing political crisis is putting the country’s fragile economy at risk.
💎 Wealth Watch
Investing behaviour hacks. My favorite: “Set up a separate trading account with a few percent of your liquid net worth (no more than 5%). Use it for whatever degenerate speculation you want.”
How to save on Thanksgiving costs despite inflation.
What will artificial intelligence mean for your pay?
🗳️ Outside the Box
📺 What to Watch Today
Searches for the high-intent phrase “can’t pay credit card” are up 31% from last year and nearly 80% since 2021.
That’s all for today. Did we miss anything? Smash reply to let us know.
Cheers,
Wyatt
Notes
Please read this disclaimer. The authors of Alt Assets, Inc. are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content should not be taken as professional advice. They are self-taught accredited investors, sharing information, research, entertainment and lessons learned based solely on their own experience and circumstances. Individual results may vary. The published content is unique, based on certain assumptions and market conditions at the time of publishing, and is intended to serve solely as research, not financial advice. For entertainment purposes only. Not investment advice. Alts I LLC (the “Fund”) is an affiliate of Alt Assets, Inc. and the Fund has conducted a private placement offering under Rule 506(c) of Regulation D of the Securities Act of 1933, as amended. The Fund may invest in one, several, or all of the alternative asset classes that Alt Assets, Inc. publishes content about on its site. Any of the Fund’s investments that have positive designations on the Alt Assets, Inc. site are purely coincidental, as the Fund is actively managed and guided by its own investment parameters, as summarized in the relevant private placement memorandum. Alternative investing involves a high degree of risk, including complete loss of principal and is not suitable for all investors. Past performance does not guarantee future results. The newsletter may contain affiliate links, meaning that Alts.co and its associated entities may receive compensation for referring customers to the noted companies. We recommend seeking the advice of a financial professional before you make any investment in an alternative asset class or any associated entities, and we accept no liability whatsoever for any loss or damage you may incur.
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