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The Tech-heavy Nasdaq Composite index is up 24% year-to-date — a stark contrast to the 0.16% decline of the narrowly focused Dow Jones Industrial Average over the period. Alongside the debt ceiling negotiations, the signal event in the week may have been Thursday’s 24% jump in the shares in chipmaker NVIDIA, which took the company’s market capitalization to nearly USD 1 trillion, the sixth most highest market cap in the world.
Last week, the Nasdaq 100 reached its highest level since April 2022, the largest market caps of the S&P500 are resolutely up since the start of the year and yet Cathie Wood's ARK Invest fund sharply underperforms the FAANGs. Each week, the Syz investment team takes you through the last seven days in seven charts.
US stocks recorded solid gains for the week, with the S&P 500 Index breaching the 4,200 level in intraday trading for the first time since late August. The market’s advance remained notably narrow, however. The equal-weighted S&P 500 Index is up only 0.93% year-to-date, which is 825 basis points behind the weighted index.
All U.S. banking stocks are down since the start of the year, the S&P500 continues to be buoyed by large tech stocks and interest on US debt continues to climb rapidly. Each week, the Syz investment team takes you through the last seven days in seven charts.
The major US equity indexes ended mixed for the week as Q1 earnings season neared its end. The Nasdaq outperformed, helped by a surge in Alphabet following the unveiling of its new AI-based search platform. The Dow Jones lagged, weighed down by Disney. Financials stocks underperformed, dragged lower by ongoing concerns over the strains facing certain regional banks.
With a handful of stocks contributing to it’s perfomance, the S&P500 is up nearly 8% YTD, U.S. unemployment rate fell to a record low of 3.4% and the Fed raised rates by 25 basis points. Each week, the Syz investment team takes you through the last seven days in seven charts.
The Friday rally didn’t save the week Despite a rally on Friday, the S&P 500 Index ended the week lower on comments from Fed Chair Jerome Powell that suggested a pivot to cutting rates might not occur as quickly as the market had hoped. Unease around the U.S. debt ceiling may also have weighed on sentiment, as U.S. Treasury Secretary Janet Yellen notified congressional leaders in a letter that the agency might not be able to meet its debt obligations “potentially as early as June 1.” Within the S&P 500, Tech stocks fared the best while Energy shares pulled back in sympathy with the price of WTI crude oil.
JP Morgan wins the bidding to acquire First Republic, April was an overall positive month for US equities, and should we sell in May and go away? Each week, the Syz investment team takes you through the last seven days in seven charts.
Stocks recorded mixed returns this week as attention focused on earnings reports. 35% of S&P 500 Index companies (or 44% of its market capitalization) were scheduled to release results during the week. Meta and Microsoft jumped while other FAANGs were mixed. Cyclical sectors generally performed poorly, however, as investors weighed several new signs of an economic slowdown.
The banking crisis in the US may not be over with deposits at U.S. commercial banks continuing to fall, hitting their lowest level since April 2021. Also, interesting timing for Apple to announce the launch of a savings account via a partnership with Goldman Sachs. Each week, the Syz investment team takes you through the last seven days in seven charts.
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