"All 'Bout Them Bulls!"

Hi There! In Grenada, St. Patrick's Day takes on a unique and deeply historical significance, far removed from the typical green festivities found elsewhere. The celebration is a vivid medley of the island's rich past, centered around St. Patrick Parish, also known as the "Historical Parish." This area, the most northerly of Grenada's parishes, is a poignant reminder of the island's turbulent history, including the tragic events at Leapers’ Hill and the colonial legacy left by French settlers in the 1600s.

The annual St. Patrick's Day Fiesta, initiated in 1986, is a celebration of this heritage, highlighting the parish's cultural and natural landscapes. It breathes life into the quiet town of Sauteurs, drawing attention to its storied past and the beauty of its surroundings, from ancient archaeological sites to the remnants of sugar plantations. This day of celebration transcends mere festivity, serving as a testament to the resilience, pride, and enduring spirit of the community in St. Patrick Parish.

Alright, let’s dig in!

Last week saw the stock market trend downward, especially on Friday, as unsettling inflation data prompted investor worries about sustained high prices, diminishing hopes for interest rate cuts. Tech stocks, notably Adobe, were particularly affected, plunging after a gloomy sales forecast was released. This movement was mirrored across major indices, with the S&P 500, Dow, and Nasdaq all recording weekly losses. The inflation figures underscored expectations that inflation will remain above the Federal Reserve's 2% target for longer than anticipated, suggesting that interest rates will likely stay higher for an extended period.

In the commodities sector, crude oil futures experienced a minor decline on Friday but managed to secure gains over the week, buoyed by increases in the preceding sessions. The closing prices for West Texas Intermediate and Brent crude indicated a slight drop in their latest settlements, despite posting a more than 3.5% rise week-over-week. This reflects a generally bullish sentiment in oil markets, signaling strength despite the day's losses.

Bitcoin, meanwhile, marked a new all-time high last week, demonstrating its increasing appeal over traditional assets like gold. According to a JPMorgan analysis, Bitcoin has significantly outpaced gold in investor portfolio allocation when adjusted for volatility, thanks to hefty inflows into spot Bitcoin ETFs since their January approval. With over $10 billion invested and a projected market size reaching $62 billion, Bitcoin's growth is further buoyed by anticipations of the upcoming halving event, which is expected to drastically reduce the daily supply of Bitcoin, potentially leading to a supply crisis within the next six months.

 Here are other key highlights from last week:

• Starbucks said its NFT rewards program must come to an end

• TCG World collabs to bring Busta Rhymes and others to the metaverse

• What EIP-4844 will mean for Polygon

This week is poised to be eventful, with a series of significant economic events and data releases that could sway market sentiment:

• NVIDIA's GTC 2024 Conference: Taking place from March 18-21, this event is anticipated to be a major focal point, with potential implications for the tech sector and broader markets. Keynote speeches from NVIDIA's CEO, Jensen Huang, and ARK Invest's CEO, Cathie Wood, are highly anticipated.

• Key US Economic Data:

  • Building Permits and Housing Starts (Tuesday): These indicators will provide insights into the health of the housing market.

  • Fed Rate Decision (Wednesday): A critical event for markets, as investors look for signs of the Federal Reserve's future interest rate path.

  • Jobless Claims, Philly Fed Manufacturing Index, Services PMI, Manufacturing PMI, and Existing Home Sales (Thursday): These data points will offer a comprehensive view of the economic landscape, touching on employment, manufacturing health, and the broader service sector.

The most anticipated earnings releases this week are outlined in the chart below.

Key Global Economic Events:

• Mainland China Retail Sales | Industrial Production: Reflect consumer spending and industrial output in China.

• BoJ, RBA, SNB, BoE, PBoC Interest Rate Decisions: Central bank decisions impacting global interest rates and monetary policy.

• Germany ZEW Survey Expectations: Measures investor sentiment and economic outlook in Germany.

• Canada, UK, Japan Feb CPI: Inflation data providing insights into price stability and economic pressure in these countries.

• New Zealand Q4 GDP: Shows economic growth and health of New Zealand's economy.

• UK Retail Sales: Indicates the health of the retail sector and consumer spending in the UK.

Trading Tip: March historically weak later in the month!

Week 3/10/24 - 3/16/24 Recap

Special Tools and Strategies

The Nvidia GTC24 AI conference will highlight the latest advancements in artificial intelligence (AI), a significant trend in the crypto world for 2024.

Here's a brief look at four AI-focused crypto projects that are garnering attention (not investment advice):

• Fetch.AI (FET): A decentralized network that lets devices and algorithms interact automatically, aiming to improve efficiency.

• CorgiAI (CORGIAI): A project focused on integrating AI with blockchain for better data analysis and innovative solutions.

• SingularityNET (AGIX): A platform for sharing and monetizing AI services, making AI technology accessible to everyone.

• PAAL AI (PAAL): Focuses on decentralized applications that use AI, though details are scarce, indicating an innovative approach to AI in blockchain.

These projects represent a blend of innovation aimed at integrating AI with blockchain technology to solve real-world problems and improve efficiency in various sectors.

Disclaimer: This newsletter is strictly educational. The information this report provides does not constitute investment, financial, trading, or any other advice. You should not treat any of the report’s content as such. Please be careful and do your research.