WEEK OF NOVEMBER 18, 2024
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Important Prices
What’s Moving The Markets?
Fed Signals No Rush To Cut Rates
Federal Reserve Chair Jerome Powell signaled a cautious approach to rate cuts, citing robust economic growth, resilient employment, and persistent inflation above target, emphasizing flexibility while acknowledging uncertainty in navigating future monetary policy adjustments.
Pharma Stocks Slide Amid RFK Jr’s Appointment
Biotech, pharmaceutical, and food stocks plunged after President-elect Trump nominated vaccine critic Robert F. Kennedy Jr. to lead HHS, sparking market uncertainty over regulatory changes and vaccine policies, while consumer goods stocks gained modestly.
TSMC Halts Chip Shipments to China
The U.S. has ordered Taiwan Semiconductor Manufacturing Co. (TSM) to halt shipments of advanced AI chips to Chinese customers, intensifying export controls to curb China’s AI and semiconductor advancements, citing national security concerns and potential Huawei export control violations.
The Next Evolution In AI
The AI industry is beginning to shift from scaling massive models to smarter, human-like reasoning, exemplified by OpenAI’s o1 model, promising efficiency, reduced resource reliance, and transformative innovation in a rapidly evolving competitive landscape.
Amazon’s New Smart Eyeglasses
Amazon (AMZN) is developing smart glasses, called “Amelia,” to streamline last-mile delivery logistics by providing navigation, package scanning, and proof-of-delivery capabilities, aiming to reduce costs amid rising shipping expenses and growing competition.
Trump Spurs Optimism In Crypto Policy
The cryptocurrency industry is optimistic about transformative policy changes under President-elect Trump, focusing on regulatory reforms, banking access, pro-crypto leadership, and a potential U.S. Bitcoin reserve, as Bitcoin (BTC) surges past $90,000.
S&P Outlook
Bear Case: Bears are currently focusing on the pivotal 5900 level, aiming to break below and sustain it to reinforce their bearish momentum. Achieving this breakthrough is crucial for continuing the downward trend, with the next significant target positioned around 5770. This level is essential for bears looking to deepen the market’s decline and secure a stronger bearish position.
Bull case: Bulls face the task of maintaining the price above the 5900 pivot to unlock further upward potential. Holding this level is critical for sustaining bullish control. If they manage to defend this position successfully, the next challenge will be to break into and surpass the upcoming supply zone starting at 6007, which could pave the way for more substantial gains in the near future.
EARNINGS RELEASE CALENDAR
FOR WEEK OF NOVEMBER 18TH
Economic Data Calendar
