In today’s recap, we start analyzing how food prices rise above the official inflation rate and see how most corporates reported their earnings and showed great profits. Of 124 companies in the U.S. S&P 500 index that have reported Quarter 1 results to date, 85.5% have already topped analysts’ earnings estimates, with Refinitiv IBES data now predicting a +34.3% jump in profit growth. Both the S&P 500 & Dow Jones Industrial Average are to finish a 3rd consecutive monthly gain today, up […]
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Recap April 25: Kraken CEO Bitcoin Regulation, Biden Tax Hike, War with Russia (Recap Ep120)
In this week’s recap, U.S. stocks took a dive on Thursday, following reports President Biden planned to nearly double the capital gains tax & planned to raise income taxes on the wealthy, proposals some analysts are saying will be hard to pass in Congress, but investors took profits, ahead of big tech’s earnings next week. For the week: Dow -0.46%; S&P 500 -0.18%, NASDAQ -0.25%. Bitcoin & other digital coins plunged Friday, wiping over $200B of the value in the cryptocurrency market […]
Recap April 18: Dogecoin is crazy, US dollar drop, Turkey bans Bitcoin payments (Recap Ep119)
In this week’s recap, the U.S. stocks ended far higher, with the Dow & S&P 500 reaching new record levels, as investors saw a much stronger than expected report on consumer spending & a sharp improvement in the number of new jobless claims. Dow +1.18%, S&P 500 +1.37%, NASDAQ +1.09%. Global stocks are hitting new record highs on Friday, after strong U.S. & Chinese economic data bolstered investor expectations of a solid global recovery from the coronavirus-induced slump, as the year progresses. […]
Recap April 11: Elon Musk Uses Chips in Monkeys, Oil drops, Record Highs (Recap Ep118)
In this week’s recap, we found that almost all global markets ended higher, with an all-time high in the Dow and S&P 500, as U.S. Treasury yields fell after softer-than-anticipated labor market data, boosts tech & other growth stocks. New York City & state plan to increase taxes on the most affluent residents, despite top business leaders insisting the increases will backfire, by driving away top earners. Marginal income tax rates could be nearly 52% the highest in the nation, which would […]
Recap April 4: Tesla Beats Estimates – Financial Crisis 2.0? (Recap ep117)
In today’s recap, we see Tesla beating its delivery estimates and, are we witnessing the beginning of a new financial crisis like the one we had in 2008-2009? Tesla reported Q1 deliveries of 184K, a new record for the company. Analyst expectations were for deliveries of only 168K for the period. Tesla deliveries were almost entirely Model 3 & Model Y vehicles, selling just 2,020 Model S sedans & Model X SUVs. Model Y sales began in China starting in January. Model […]
Recap March 28: Ray Dalio Says Bitcoin Illegal, Rich Get Richer Poor Get Poorer (Recap ep116)
In this week’s Recap, we talk about how mega-billionaire Ray Dalio warned that Bitcoin could be banned by the U.S. Government. Marcello also explains how the 10% richer are getting even wealthier by controlling 97% of the capital income. The year 2020 saw the world suffer due to the COVID-19 pandemic & the global economy faced its worst recession since World War II. Yet, nearly 2/3 of the world’s billionaire class amassed even greater fortunes, with an increase of wealth of some […]
Recap March 21: Bitcoin Made Illegal, Kanye West Billionaire, Elon Musk Tunnels Florida (Recap ep115)
In today’s recap, Marcello talks about a new Crypto ban in India that might affect Bitcoin’s recent performance; Kanye West is now the richest africanamerican in the U.S.; and Elon Musk’s The Boring Company is working on a tunnels project in Florida. Bitcoin has fallen over -10% from a record high of over $62K to just over $56K, after it was reported that India will now propose a law banning cryptocurrencies altogether. The total number of bitcoins in circulation over the weekend, […]
Recap March 14: Tesla collapses, Record Highs, Storm blocks out Sun (Recap Ep114)
In this week’s recap, we found that US stocks were mostly positive, with the Dow achieving a fifth consecutive record up, despite doubts generated by the high national debt in the US, driven by the covid-19 aid package of Biden. Global shares were flat on Friday as benchmark debt yields climbed, helping to curb the latest stimulus-driven rally. Market optimism had helped Asian shares rise with Japan’s Nikkei up +1.7% but were lower in Hong Kong & India. It faded out in […]
Recap March 7: Tesla crashes, Texas Opens, New Vaccine (Recap Ep113)
In this week’s recap, we find several relevant and decisive events for the world economy, such as the approval of the stimulus package for coronavirus in the US for a value of $1.9T dollars. During the week, US equities were steadily lower as investors sought less risky assets, yet they rallied strongly on Friday. Global stocks were mixed. Oil prices surge to the highest level in 14 months on Friday, as OPEC & its allies extend production cuts for another month, despite […]
Recap February 28: Tesla Collapses, US Dollar in Trouble, Gamestop vs Robinhood Rd 2 (Recap ep112)
In this week’s recap, we’ll talk about the collapse of Tesla’s stocks, how the US Dollar is getting into trouble and how we are witnessing what seems like a second round of the Gamestop vs Robinhood situation. Shares of Tesla up +325% in the past 12 months, fell over -8% on Monday & by Tuesday had fallen some -7% more, to a weekly loss of over -15%, in worst market days since September, thus turning negative for the year, down a total […]