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This week saw a variety of significant developments across markets, commodities, finance, and international affairs. In the US, markets remained volatile with the Consumer Price Index (CPI) for core inflation showing an unexpected rise in August. Meanwhile, energy markets faced turbulence, with oil recording its worst week in nearly a year. On the other hand, precious metals rallied on Friday, fueled by optimism around potential interest rate cuts. In a notable legislative move, New Jersey eliminated sales taxes on gold and silver, adding momentum to the precious metals market. Financial and economic news remained a mixed bag. Bolivian inflation hit its highest level in nearly a decade at a 12-month rate of 5.19%, while Argentina’s inflation for August was projected at 3.9%. German inflation, on the other hand, dropped to its lowest point in over three years, prompting the European Central Bank (ECB) to cut interest rates by another 0.25%, bringing them down to 3.50%. This reduction follows a similar cut in June, putting the ECB within striking distance of its 2% inflation target. Japan’s second-quarter GDP also saw a positive uptick of 2.9% on an annualized basis, reflecting a more optimistic economic outlook. In the political arena, tensions were high with a second reported assassination attempt on former US President Donald Trump and an active shooter incident on a golf course. Violent crime statistics continued to paint a grim picture compared to 2020, with figures showing a 40% increase in violent crimes overall. Notably, car thefts were up 42%, aggravated assaults increased by 55%, and violent attacks by strangers surged 61%. These figures underscore growing concerns over public safety in many parts of the country. Corporate news highlighted both challenges and opportunities. Samsung announced plans to slash its global workforce by up to 30% amid stiff competition from Apple and Huawei. BMW had a rough week, with shares dropping 11.15%, marking the automaker’s worst day in more than four years, largely driven by sluggish demand in China. Boeing faced another setback, with over 30,000 workers poised to strike after rejecting a new labor contract, threatening to halt production of aircraft, including the best-selling 737 Max. Ally Financial, one of the largest US banks, reported rising delinquencies and charge-offs, causing significant concern in the financial sector, while Big Lots prepared for bankruptcy, planning to shut down 1,400 stores across the country. In technology, Nvidia shares rebounded significantly, climbing 8.15% on Wednesday and another 3% on Thursday, driven by rising demand for chips. Nvidia has seen an impressive 143% increase in stock price in 2024, reflecting the company’s growing dominance in the tech sector. SpaceX once again made headlines by successfully completing the world’s first private spacewalk, pushing the boundaries of commercial spaceflight. Meanwhile, internationally, South America’s Paraguay River hit a record low, hampering critical trade routes for soy, corn, and other exports, while Bolivia declared a national emergency due to raging forest fires. The post September 16: 2nd Trump Assassination Attempt, SpaceX 1st private spacewalk, Consumers take huge hit (Recap Ep292) [https://daytradingacademy.com/september-16-2nd-trump-assassination-attempt-spacex-1st-private-spacewalk-consumers-take-huge-hit-recap-ep292/] appeared first on Investing & Day Trading Education: Day Trading Academy [https://daytradingacademy.com].

In this week’s Recap, Marcello shows us how the U.S. stock markets have seen over $2 trillion wiped out in just six days, a loss equivalent to the entire GDP of Canada. With growing recession fears sparked by the latest jobs report, stocks have taken their worst hit since March 2023. Meanwhile, Tesla’s stock has surged nearly 5%, as the company prepares to expand its Full Self-Driving technology to China and Europe, pending regulatory approval. There are also some concerns rising in California, there might be an earthquake coming. U.S. stock markets were far lower on Friday, in the worst trading week since March 2023, after the latest jobs report had investors increasingly concerned over possibility of recession. Concerns that AI demand won’t live up to lofty priced-in expectations hit tech shares. Anxiety about the economy has shaken markets again this week, sending the benchmark 10-year Treasury yield to its lowest level of the year, during a volatile trading day. Crude prices fell further Friday to its lowest level since June 2023, in the worst week in nearly a year. Saudi Arabia’s state-run oil company has cut its October pricing for its Arab Light crude oil for Asian buyers, according to the new price list. Saudi Aramco has cut its Arab Light crude oil by $0.70. Saudi Aramco has also lowered the price of Arab Light to Europe & the U.S. As an economic slowdown is impacting ever more of the global economy, it is likely oil demand will be impacted as well. Elon Musk’s satellite broadband firm, Starlink, on Tuesday stated that it is complying with Brazil’s top court order to block access to social media platform X in the country, a day after informing the country’s regulator it wouldn’t obey the order. Starlink had emerged as a fresh battleground between Musk & Brazil, as top court judge Alexandre de Moraes ordered the freeze of the company’s accounts for possible use to pay fines owed by X, which is also owned by Musk. Colombia’s government on Friday reached a deal with truckers to suspend a protest over a rise in diesel prices, after road blockades threatened to cause food & fuel shortages in the biggest cities. The deal came after the government backed down from its plan to increase the price of diesel by 1,904 pesos ($0.45 ) per gallon starting this month, instead agreeing to a rise of just 800 pesos in 2 equal increments during the rest of the year. Rancho Palos Verdes, a coastal community in the Los Angeles area,is a geological ticking time bomb. The affluent city sits atop steep cliffs overlooking spectacular views of the Pacific Ocean that, for 100’s of years, have been slowly shifting & giving way. Now, that movement is accelerating. Whereas the ground slid downward 8 inches annually in years past, it has lurched 13 inches per week in some places, between July & August. The resulting landslides have ripped apart seaside mansions, buckled roads & forced the utility provider to cut electricity to nearly 250 homes, to avoid the possibility of fires. This week the governor of California declared a state of emergency for the community. The post September 8: Stocks lost $2 TRILLION, Tesla full self driving in China/Europe, California earthquake coming (Recap ep291) [https://daytradingacademy.com/september-8-stocks-lost-2-trillion-tesla-full-self-driving-in-china-europe-california-earthquake-coming-recap-ep291/] appeared first on Investing & Day Trading Education: Day Trading Academy [https://daytradingacademy.com].

In US Market News, Monday marked the eighth consecutive session of gains for U.S. stocks, with traders anticipating Federal Reserve Chair Jerome Powell’s comments later in the week. The Fed’s latest policy meeting reinforced expectations of a rate cut in September. Powell confirmed that rate cuts are forthcoming but did not specify the timing. Additionally, new data indicated weaknesses in the labor market. In Conspiracy News, reports suggest the Atlantic Ocean is cooling at a record pace, baffling climate scientists. Concerns are also mounting over high fluoride exposure in children, which has been linked to lower IQ and other neurodevelopmental issues. Notably, toothpaste labels now advise calling emergency services if ingested. In Bitcoin and Crypto News, Japan’s banks are set to adopt XRP for transactions starting in 2025. This move places Japan at the forefront of digital currency integration, allowing nationwide XRP payments and rewards. In Commodities and Energy, peace talks in the Middle East are reducing supply risks, while China’s economic weakness poses a threat to demand. Chinese refineries have reduced crude processing rates due to low fuel demand. U.S. crude futures fell 3.01% to $74.34, while Brent futures dropped 2.51% to $77.68. Gold has risen 22% in 2024, reaching an all-time high, with a bar of gold now valued at $1 million. In Financial and Banking News, China plans to bolster its social security fund by 2.88 trillion yuan ($406 billion) to support its aging population, with 300 million Chinese expected to retire in the next decade. By 2040, half of the people over 65 in the Asia-Pacific region will live in China. Projections indicate China’s pension system could run out of funds by 2035. In Economic News, Japan’s business activity hit a 15-month high in August, with growth in both manufacturing and services sectors. In the U.S., July home sales ended a four-month decline, with supply increasing by nearly 20% compared to last year. In Political News, Venezuela’s Supreme Justice Tribunal upheld Nicolás Maduro’s presidential election victory on July 28. Meanwhile, Robert F. Kennedy Jr. withdrew from the presidential race and endorsed Donald Trump. In Corporate News, Telegram founder Pavel Durov was arrested in France and faces up to 20 years in prison. Warren Buffett’s Berkshire Hathaway sold 13.9 million more major bank shares, reducing its stake to 11.9%. In Technology, Taiwan’s TSMC, the world’s largest contract chipmaker, opened a new chip plant in Dresden, Germany. This move strengthens TSMC’s position as a key supplier to Europe’s industrial and automotive sectors, supported by 5 billion euros ($5.5 billion) in state aid. In Interesting Facts, archaeologists discovered a giant rock in the Colombian Amazon with animal paintings dating back to around 12,500 BC. This find offers insights into the diet and mythologies of the continent’s early inhabitants. The post August 25: Record Cooling Atlantic Ocean, Interest Rate Gods Respond, Warren Buffett Keeps Selling (Recap Ep290) [https://daytradingacademy.com/august-25-record-cooling-atlantic-ocean-interest-rate-gods-respond-warren-buffett-keeps-selling-recap-ep290/] appeared first on Investing & Day Trading Education: Day Trading Academy [https://daytradingacademy.com].

In this week’s Recap, Marcello let us know that gold continues to explode in value, reaching record highs as investors anticipate a rate cut from the Federal Reserve. Meanwhile, a “doomsday” fish has been discovered off the coast of California, raising concerns of seismic activity, and Japan has issued a stark warning, urging citizens to prepare for a potential mega earthquake. The latest inflation data released on Wednesday has given investors confidence that a rate cut from the Federal Reserve is likely next month. The Consumer Price Index (CPI) showed prices rose by 2.9% over the past 12 months through July, which was below economists’ expectations of 3%. A rare “doomsday” fish, the Oarfish, was found near the Southern California shore, raising concerns. Known as the largest deep-sea fish, the Oarfish has historically been linked to seismic activity, with more than 20 washing ashore in Japan just months before the devastating 9.1 earthquake in 2011. The governments of Japan and the Philippines are now warning citizens to prepare for a potential mega quake. Iron ore prices hit their lowest level since 2022 on Wednesday, driven by concerns over global supply and demand imbalances. China’s steelmakers are in crisis, cutting output just as major miners boost exports. Futures fell for the fourth consecutive day in Singapore, with China’s steel production about 9% lower than a year ago, signaling a slowdown in the largest importer of seaborne iron ore. In the UK, inflation rose to 2.2% in July, slightly below expectations. Meanwhile, the Eurozone’s GDP grew by 0.3% quarter-on-quarter in Q2, with employment rising by 0.2%. France saw its consumer prices increase by 2.7% year-on-year in July, slightly up from the previous month’s preliminary reading. Huawei is preparing to introduce a new AI chip in a bid to challenge Nvidia’s dominance in China, especially amid U.S. chip export controls. The tech giant has been testing the latest chip in recent weeks and aims to start shipping as early as October. Greece’s worst wildfire of the year spread into the Athens suburbs on Monday, forcing hundreds of people to flee as the flames crept on residential areas. The post August 19: Gold cont to explode, Doomsday Fish found California, Japan Warns mega earthquake (Recap ep289) [https://daytradingacademy.com/august-19-gold-cont-to-explode-doomsday-fish-found-california-japan-warns-mega-earthquake-recap-ep289/] appeared first on Investing & Day Trading Education: Day Trading Academy [https://daytradingacademy.com].

In today’s Recap, Marcello informs us that Warren Buffett has sold more stock in the last quarter than at any other time in Berkshire Hathaway’s history, signaling a potential collapse in the markets. Global stocks have taken a severe hit, with the U.S. experiencing its worst trading session in two years and Japan suffering its biggest point drop ever, driven by a carry trade liquidation following an interest rate hike. The fallout has been massive, with the “Magnificent 7” companies in the U.S. losing over half a trillion dollars in a single day, marking the worst day of trading since 1987. Meanwhile, as markets plunge, the U.S. is also grappling with record-breaking cold weather, with over 30 cities experiencing temperatures typically seen in October. Mainstream media has largely been silent on the dozens of nighttime low-temperature records being shattered across the country. The 7 most-valuable U.S. tech companies, the Magnificent 7, lost a combined $1 trillion in market value, at the start of trading on Monday. The losses were later pared in the session ending down $650B in market capitalization. Nvidia shed over $300B in market cap at the opening bell, though it quickly recovered about half of its loss. Shares of the chipmaker closed down -6.4% for a loss of $168B. Apple & Amazon’s valuation plummeted $224B & $109B, respectively, at the market open. Apple ended down -4.8%, or $162B in market cap. Amazon dropped -4.1% at the close, or $72B. U.S. stock markets moved far higher on Thursday, with the S&P 500 in its best session since 2022, after the latest data release on the U.S. economy concerning jobs. Weekly initial claims fell to a lower-than-expected 233K, down from a revised-up 250K, the week before. The data came following last week’s weak jobs report. Treasury bonds fell, with the 10-year yield hitting 4% Japan’s current account surplus for June came in at 1.533T yen ($10.2B), lower than the 1.789T yen expected by economists. Japan posted a current account surplus of 12.68T yen (about 87B U.S. dollars) in the 1st half (H1) of 2024, helped by record returns on foreign investments, amid the yen’s depreciation & a smaller trade deficit. Airbnb shares fell near -14% in after-hours trading on Tuesday at $112.75, after the company reported Q2 earnings that missed analyst expectations & warned that it’s seeing signs of slowing demand from U.S. customers. Earnings per share came in at $0.86 versus $0.92 expected. Revenue was $2.75B vs. $2.74B expected. Revenue did increase +11% year-over-year. Airbnb reported a net income of $555M down -15% from $650M, or $0.98 per share, in the year-ago quarter. The company guided to Q3 revenue of $3.67B to $3.73B, but also warned that it expected moderation in y/y growth, relative to the current quarter. The stock is down -18.36% in the past 3 months, -4.16% in 2024 & -6.51% y/y, with a market cap of $80.71B. Many analysts are predicting that gold prices will continue to rise, as investors focus on Federal Reserve interest cuts, while ETF inflows & central bank buying continue to provide support against a backdrop of geopolitical risk. June’s purchases were once again led by emerging market central banks. Uzbekistan & India both added 9 tonnes to their gold reserves during the month. The electric vehicle stock Rivian Automotive fell -6.86% on Wednesday at $13.79 after the U.S. company’s net losses in Q2 widened to $1.46 B from a Q1 loss of $1.45B & from $1.2B in the year-ago period. The loss was nearly $300M worse than Q2 last year.The company did top expectations for certain metrics, with an adjusted loss of $1.13 per share. Analysts surveyed were expecting a loss of $1.21 per share. Rivian’s financial losses have crept up, as it pushed out the last of its 1st-generation R1 trucks & SUVs in favor of newer, more cost-efficient versions in a sign of just how much the company could use the $5B it could get as part of a recently announced deal with Volkswagen Group. U.S. Vice President Kamala Harris ended weeks of speculation on Tuesday by choosing Minnesota Gov. Tim Walz a Democrat , as her running mate. 1st elected to Congress in 2006, Walz served in the House of Representatives for 12 years & rose to become the top Democrat on the powerful Veterans Affairs Committee, before heading home in 2019 to lead the North Star State. Walz was not only popular on in Congress, but he also had the distinction of being the highest-ranking enlisted soldier in the history of Congress, a status that allowed him to gain supporters in both parties. After sweltering in its hottest July in observed modern history, China has been hit by extreme heat, particularly in the east & south of the country. Zhejiang’s provincial capital Hangzhou recorded a 41.9C historical high on Aug. 3.It was reported on Thursday, that at least 2 people have died from heat-stroke in 1 Chinese city, & many more have fallen ill, as temperatures hovered around 40 degrees Celsius (104 degrees Fahrenheit) for the 8th day on the eastern seaboard. Over the next 3 days, most areas south of the Yangtze River, like in Shanghai, are expected to get hit by 37C-39C heat, with temperatures in parts of Anhui, Jiangsu & Zhejiang provinces exceeding 40C, forecasters have stated. The post August 11: Warren Buffett Sells Most Stocks Ever! Collapse In Stocks, Record Cold Weather (Recap ep288) [https://daytradingacademy.com/august-11-warren-buffett-sells-most-stocks-ever-collapse-in-stocks-record-cold-weather-recap-ep288/] appeared first on Investing & Day Trading Education: Day Trading Academy [https://daytradingacademy.com].