The AP on the Street 8th Week of 2023

The last week was harsh for investors, especially after the hotter-than-expected PCE report.

This week, there are the Chicago PMI, ISM Non-Manufacturing PMI, and Manufacturing PMI.

So, let’s take a look at what happened last week:

• Meta started testing Twitter-like new paid “verified” system for $11.99 monthly.
• Home Depot shares tumbled after a weak sales report.
• Walmart shares plunged after an unsatisfactory outlook.
• Services PMI came out to 50.5 points —3.3 points better than expected.
• Natural Gas reached its lowest level since September 2020.
• Credit Suisse shares reached their lowest level in history.
• Germany’s CPI rose 8.7% yearly, as expected —60 basis points higher than the last number.
• Nvidia shares surged after beating the earning expectations.
• Euro Zone CPI rose 8.6% year on year, as expected. —60 basis points lower than the last number.
• Euro Zone Core CPI rose 5.3% yearly —10 basis points higher than expected.
• US Core PCE prices rose 4.7% yearly, killing disinflation hopes —40 basis points higher than expected, 10 basis points higher than the previous number.
• Japan’s Core CPI rose 4.2% year on year, as expected.
• Germany’s Q4 GDP decreased by 0.4% quarter on quarter —20 basis points worse than expected.

Overall Market Indexes & Commodities Moves (Weekly) (By taking the opening price on Monday and closing price on Friday, using MSN Money)

DOW = -2.5% 

S&P 500 = -2.3% 

NASDAQ = -3.2%

RUSSELL 2000 = -2.3%

Gold = -0.8%

Silver = -2.1%

Oil = 1.8%

The weekly performance of S&P 500 Stocks

Let’s look at the most undervalued stocks listed on our website:

Our two least-performing stocks:

The main reason(s) for the decline in BA: Boeing shares declined after the announcement of a halt in deliveries and a statement about stopping production of F/A-18 Super Hornet jets.

The main reason(s) for the decline in CMCSA: Comcast announced that they are going to ditch their BuzzFeed shares after the rally BuzzFeed had.

TIL: What is a derivative?

A derivative is a type of financial contract based on something else, such as an individual asset, a collection of assets, or a criterion. Two or more parties can trade a derivative on an exchange or privately (OTC).

Important data/ decisions that will be published next week:
The PCE Price Index and the Core PCE Price Index

We will see how the investors will behave after all of the data and decisions. Stay tuned.

DISCLAIMER: THIS TEXT CONTAINS NO INVESTMENT ADVICE.