"It's a Hard Way Parlay!"

Hi There! This past weekend, I fully embraced the role of the ultimate beach bum, spending almost the entirety of Saturday soaking up the best of beach life. My sister and I went all out, lounging in beach chairs, wide brim beach straw hats, sipping freshly cut coconut water (maybe with a little something in it), and feasting on a spread that could only be described as heavenly. Each of us savoured a plate of the sumptuous local Oil Down, complemented by an assortment of desserts — the local Jouvay Chocolate, a vibrant independence cheesecake echoing the colours of Grenada’s National flag, and our mum’s irresistibly delicious coconut buns.

Amidst this coastal paradise, we reconnected with friends, some I hadn't seen in ages, including those who, like me, were escaping the biting cold of distant places to bask in the warmth of family and the island sun. Our gathering blossomed with the arrival of another friend, adding to the day's joy. Laughter filled the air, as abundant and uplifting as the gentle sea breeze.

We plunged into the clear waters, swimming and reveling in nature’s generous offering of vitamin D, our skin kissed by the sun’s warm rays. As the day meandered towards its close, we were treated to a magnificent sunset, painting the sky in hues of fiery orange and calming purples — a spectacular end to a perfect day. And the chickens, nonchalantly strolling along the beach, added a touch of whimsical charm to our idyllic surroundings. In moments like these, I can’t help but think, there’s never a dull moment on this island. Grenada Nice!

 Alright, let’s dig in!

Last week, the stock market had a positive run overall, despite a mixed performance on Friday. The major indexes saw gains, with the S&P 500 up 2.8%, the Nasdaq Composite rising 3.4%, and the Dow increasing by 1.3%.

Investors were encouraged by the core Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation measure, dropping below 3% for the first time in three years. This signals a potential for future interest rate cuts.

However, not all news was positive. Intel's (INTC) shares dropped following a disappointing outlook for the first quarter. Visa (V) also experienced a decline, even after reporting better-than-expected earnings, due to a cautious revenue forecast.

In contrast, Microsoft (MSFT) had a strong week, ending with a market valuation surpassing $3 trillion.

In the bond market, Treasury yields saw an increase as investors anticipated the Federal Open Market Committee's (FOMC) decisions on interest rates in the upcoming week.

The oil market ended the week on a high note, with prices reaching their highest in nearly eight weeks, buoyed by signs of strong economic growth. Brent crude futures closed at $83.55 a barrel, and U.S. West Texas Intermediate (WTI) crude settled at $78.01, marking their highest closes since November.

Here are other key highlights from last week:

• U.S. Government to auction $117 Million in confiscated Bitcoin

• BlackRock’s Bitcoin ETF crossed $2 billion in inflows

• Solana-based “Rubber” NFT collection soars 50x

• Polygon launched a new ”Aggregation Layer”

Here are key U.S. events to watch this week:

• Wednesday:

  • ADP Payrolls

  • Federal Interest Rate Decision

  • Powell Press Conference

• Thursday:

  • ISM Manufacturing PMI

• Friday:

  • Average Hourly Earnings

  • Nonfarm Payrolls

  • Unemployment Rate

The most anticipated earnings releases this week are shown below.

Late Tuesday after hours, chipmaker Advanced Micro Devices (AMD) reported mixed fourth-quarter results. Their revenue exceeded expectations, but their forecast for the first quarter was lower than anticipated. Despite positive news about rapid sales of their new AI chips, AMD's stock price dropped to $168.00 in extended trading.

Other major earnings releases include Apple (AAPL), Amazon (AMZN), and Meta.

This Week’s High-Impact Global Economic Data Highlights:

• Australia Q4 CPI

• China NBS Manufacturing PMI

• Canada GDP

• Bank of England (BoE) Rate Decision

Trading Tip: Historically, the first two days in February have been bullish.

Week 1/21/24 - 1/27/24 Recap

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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.