The AP on the Street 15th week of 2023

The last week was really positive for most of the indexes and commodities due to the inflation numbers slowing down.

This week we have Manufacturing Indexes, Services PMI, and Manufacturing PMI. So, let’s take a look at what happened last week:

• China performed military drills near Taiwan after Taiwanese President Tsai’s California visit.
• French President Macron said that Europe should reduce dependency on USD.
• Warren Buffett announced that they are increasing their investments in Japan.
• Bitcoin passed the $30,000 mark.
• IMF cut the 2023 World GDP growth outlook from 2.9% to 2.8%.
• New York Federal Reserve President Williams said that the FED would need to lower the rates if inflation starts to come down.
• Treasury Secretary Janet Yellen said the US banking system remains sound with solid capital and liquidity positions.
• New York Federal Reserve projects balance sheet to fall down $6 trillion by 2025 —FED Balance Sheet is $8.7 trillion currently.
• Germany’s DAX rose to its highest level since January 2022.
• Warren Buffett said the Banking Crisis would not cost the government a penny, but there will be some problems in the commercial real estate sector for banks.
• Warren Buffett said the FED Chairman Powell has been terrific.
• US CPI rose 5.0% year on year —20 basis points lower than expected.
• US Core CPI rose 5.6% year on year, as expected.
• FED is projecting a “mild recession” starting later in 2023.
• US PPI rose 2.7% year on year —30 basis points lower than expected.
• US Core PPI rose 3.4% year on year, as expected.
• Ethereum passed the $2,000 mark for the first time since August 2022.
• JP Morgan’s Q1 profit surged 52%. JPM shares soared after that.
• JP Morgan CEO Jamie Dimon said that people need to be prepared for higher rates for longer.

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

DOW = 1.6% 

S&P 500 = 1.5% 

NASDAQ = 1.2%

RUSSELL 2000 = 1.4%

Gold = 0.6%

Silver = 2.2%

Oil = 3.5%

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 tumbled after halting the Boeing 737 MAX jets’ deliveries. The main reason(s) for the decline in CVS: While there is no clear sign why CVS shares slide, we believe that it might be affected by the Federal Trade Commission’s warning to approximately 670 companies (including CVS).

TIL: What is a Mutual Fund?

A mutual fund is an investment vehicle made up of a pool of money collected from many investors for the purpose of investing in securities such as stocks, bonds, and other assets.
Mutual funds are managed by professional money managers, who allocate the fund’s assets and attempt to produce capital gains or income for the fund’s investors. A mutual fund’s portfolio is structured and maintained to match the investment objectives stated in its prospectus.

Important data/ decisions that will be published next week:
The Core CPI, CPI, the Core PPI, and PPI

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

DISCLAIMER: THIS TEXT CONTAINS NO INVESTMENT ADVICE.