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- May 9th Stock Market Update - Markets showing surprising strength even with no news
May 9th Stock Market Update - Markets showing surprising strength even with no news
$JD $COST $ONB
Mukund Mohan
May 09, 2024
Market
“The jobless claims seasonally jumped to over 231K, indicating a slowing economy, which is exactly what the Federal revere wants, but inflation is still higher than where they’d like it to be.” 😐️ 😳
Markets continue to believe the Fed will lower sooner than later.
The earnings for most parts seem to be signaling a slower rise in earnings for next quarter, which we all expected in Q3/Q4 2023. The indices still moved higher, which is a good signal of strength and rotation from tech to other sectors.
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On the back of some smaller earnings, tech I would call was mostly flat
Most of the large cap stocks in technology eked out a small gain - Amazon hit an all time high, as did AppLovin.
Insights from the portfolio
Video of the day
Today’s video is on Costco $COST, the large box warehouse retailer.
