7/8/2024 CBAS Weekly Newsletter

Market News:

• The market had a shortened trading week due to the 4th of July falling on Thursday, which could have affected trading volumes and market dynamics

• The Nasdaq Composite and S&P 500 reached record highs, closing at $18,403.74 and $5,572.85, respectively

• Tech stocks continue to thrive, leading the market and helping the Nasdaq outperform other indices

• Tesla stock surged after reporting better-than-expected Q2 deliveries, boosting the overall market

• The July jobs report showed an addition of 206,000 jobs, slightly above expectations, while the unemployment rate increased to 4.1%. This data fueled optimism about potential interest rate cuts

  • (^7/5/24 unemployement numbers. Credits: Forex Factory 1st column: Actual reported numbers; 2nd column: Forecasted; 3rd column: Previous report)

  • FYI: Higher unemployment rate = slower economy = declining markets

• Fear and greed as of 7/8/24: Neutral

Watchlist*:

TSM (Earnings 7/18), TSLA (Earnings 7/23), AAPL, AVGO (Upcoming 10:1 split on the 15th)

Long term watchlist*:

TSM - Watch for pullbacks, possible positions for a medium-long term investment. Lots of positive sentiment on TSM as it approaches a $1 trillion market cap and plays an important part in NVDA's growth. See blog post for stock analysis of TSM as of 7/8/2024.