This content was originally published on BD Investing's Newsletter
S&P 500 had its 8 day streak came to an end on Thursday after papa Powells speech reinforced the “higher for longer” interest rate narrative and his foul language. Close that f***ing door!
BUT we had a nice bounce back today to close the week higher. TSX was down 1% this week as BoC minutes showed rates could go higher (I think they’re bluffing)
S&P/TSX 60 Week's Performance 
Market watch/Earnings
Berkshire, Warren Buffets company has been stacking cash since 2020 sitting on a mountain of cash, reaching a historic high of $157.2 billion. The only stock he’s been buying is Occidental Petroleum (NYSE:OXY) $OXY. I wonder what company he’s eyeing on buying.
Microsoft (NASDAQ:MSFT) stock closed at an all time high on Open AI hype, credit card balances hit a $1.08T record high & the CEO of Bank of America (NYSE:BAC), Brian Moynihan, has stated that the research team is predicting a soft landing for the US economy.
Uber missed Q3 analyst earnings and revenue expectations but showed strength in other areas such as gross bookings
Datadog shares rocketed 28% after reporting strong earnings
Disney reported EPS of $0.82 beating expectations of $0.70 Revenue of $21.2B missing expectations of $21.4B
Insider Trades
Sells by executives isn’t always a red flag, people can sell for many reasons. But people only buy for one reason.
Headlines you need to know
INTEL IS IN LEAD FOR BILLIONS MORE IN GOVERNMENT FUNDING TO BUILD DEFENSE-CHIP FACILITIES
KOREAN STOCK MARKET rallied AFTER SOUTH KOREA BANNED SHORT SELLING. 12% in one day on Monday.
Hyundai to possibly produce the Apple (NASDAQ:AAPL) Car
Wework preparing to file for Chapter 11
Elon Musk debuts ‘Grok’ AI bot to rival ChatGPT
Billionaire Ken Griffin has said that investors need to be watching and investing in China.
SpaceX Eyes $15 Billion in 2024 Sales on Starlink Strength
$AMZN announced a new health care benefit program for Prime Members for $9 a Month (or $99 a Year)
Facebook (NASDAQ:META) $META just introduced a new feature that will let Amazon (NASDAQ:AMZN) $AMZN shopped buy products on Facebook and Instagram without leaving the apps
Tesla (NASDAQ:TSLA) $TSLA short interest is reportedly currently at $18.63 Billion making it the most shorted stock
Popular video chat service Omegle shuts down
China’s Consumer Deflation Returns as Recovery Remains Fragile
Crypto Corner
Bitcoin broke 37,000 HODL
Blackrock (NYSE:BLK) confirms that an Ethereum ETF is on the way.
Eth broke 2000 !
BD currently owns BTC, ETH & DOGE
Oh Canada
- Some Bank of Canada Officials Believed Rates Would Need to Go Higher, Minutes Say
Organigram jumped 19% after receiving roughly $91.3 million investment from British American Tobacco (LON:BATS)
Cameco (TSX:CCO) and Brookfield Renewable Partners acquired $7.9B nuclear power plant equipment maker Westinghouse Electric (RT)
Toronto named the "rattiest" in the country for second year in a row ( I don’t find it that bad)
- National bank cuts staff in capital services & no longer offers deposit boxes
- RBC (TSX:RY) cutting jobs in US that may climb over 1000
- Greater Toronto home sales drop 5.8 per cent in October amid high borrowing costs
- Canadian Tire (TSX:CTCa) looks to cut about 3% of workforce as it faces softening demand
Oakwest has purchased another $250k worth of $EQB.TO shares on the open market
$NVEI rallies 20% after reporting strong earnings
$Pza pizza pizza eps 0.25 v 0.26 reported ,revenue 159.5m v 163m
$SU beat eps 1.40 v 1.52 but missed on revenue
$TRP beat eps 0.97 v 1.00 but missed on revenue
$MFC beat eps of 0.83 v 0.92
$H beat eps of 0.56 v 0.59
Economics
Jerome Powell left the markets sour as usual & said the same thing..as usual. Unions have secured the highest raises in decades, per Bloomberg..so should you get a unionized job? US 30-year mortgage rate plunges by most in nearly 16 months meanwhile it only gets worse in Canada with renewals coming up.
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Next week is Inflation, PPI & jobs report. CPI (inflation) comes out on Tuesday. Inflation is forecasted to come down lower than last month. Inflation cooling down is always a good sign for the markets. |
BD investing Discord
As you all know I have a investing & trading group on Discord. However this week i took a break from trading and went on a Royal Caribbean $RCL cruise to Florida, Bahamas, Haiti & Jamaica. I went 3/3 for trades this week. The team still made profitable trades thanks to some of the veteran traders in the group, good job ! Bdinvesting.org.
Meme Spot
