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Growing hopes that the Federal Reserve might begin cutting interest rates sooner rather than later appeared to help bring the S&P 500 and the Nasdaq Composite indices to new record intraday highs before pulling back late Friday. Small-cap and value shares outperformed, while mega-cap tech shares lagged due in part to a decline in Apple following reports about slowing iPhone sales in China. Notably, Danish pharmaceuticals company Novo Nordisk displaced Tesla on Thursday as the 12th biggest public company by market capitalization. On the macro side, Friday’s US jobs report showed that employers added 275,000 jobs in February, more than consensus forecasts, but January’s gain was revised significantly lower, from 353,000 to 229,000.

Apple stock has a worm, while Asian stocks soar, and commodities suffer from geopolitical uncertainty. Each month, the Syz investment team takes you through the last 31 days in 10 charts.

Bitcoin passed the $60,000 mark, emerging markets dwarfed by magnificent 7, and shoe manufacturer On Holding takes an upward hike. Each week, the Syz investment team takes you through the last seven days in seven charts.

The Nasdaq Composite rose to an all-time high Friday, surpassing its 2021 record while the S&P 500 closed above 5100 for the first time. The month also closed a strong February, with the S&P 500 marking its strongest beginning two months of the year since 2019. The week’s gains were also broad-based, with an equal-weighted version of the S&P 500 Index modestly outperforming its capitalization version. Thursday’s release of the PCE price index was a disappointment as core prices rose by 3.9%, above expectations of around 3.7%. The 12 Fed policymakers scheduled to deliver speeches over the week all seemed to echo the recent narrative that they were in no rush to cut interest rates. But on Friday, a disappointing ISM Manufacturing index (back to 47.8) and Fed Governor Waller indication that the Fed might be willing to implement a new “Operation Twist” pushed bond yields lower and gold prices higher.

Nvidia's Q4 2024 results surpassed already high expectations, the magnificent 7 increased their market cap by $500 billion on Thursday, propelling the Nasdaq, S&P 500, and Dow Jones to record highs. Each week, the Syz investment team takes you through the last seven days in seven charts.

The S&P 500 Index hit new intraday highs, as did the Nasdaq Composite Index, which posted its biggest daily gain in about a year on Thursday, when NVIDIA added a record USD 277 billion to its market capitalization. The chipmaker reported strong quarterly revenue and earnings that topped Wall Street estimates. The pan-European STOXX Europe 600 Index climbed to a record level, ending the week 1.15% higher. Japanese equities ended Thursday at a new all-time high, with the Nikkei 225 Index breaking the previous record set more than 30 years ago in 1989. Chinese equities rallied as recovery hopes rose following buoyant holiday spending during the prior week’s Lunar New Year holiday. The Shanghai Composite Index rose 4.85%.

Bitcoin surpasses $1 trillion cap, Super Micro Computer becomes AI favourite, GRANOLAS rival the Magnificent 7. Each week, the Syz investment team takes you through the last seven days in seven charts.

Some favorable earnings surprises balanced against discouraging inflation data left the major US equities indices mixed, with the S&P 500 Index recording its first weekly decline since the start of the year. The declines were concentrated in large-cap growth stocks, however, with an equally weighted version of the S&P 500 reaching a record intraday high on Thursday. Investors digested several upside inflation surprises during the week. On Tuesday, stocks sold off after US CPI data, up 0.3% MoM in January (vs. 0.2% expected). Core CPI rose 0.4% MoM, up 3.9% yoy, nearly double the Fed’s 2.0% target. Stock fell again on Friday  as PPI increased 0.3% in January—the most in five months—after falling 0.1% in December. Core prices rose 0.5%, well above expectations of around 0.1%. Stagflation fears reappeared on Thursday as retail sales plummeted 0.8% in January.

The US economy demonstrates resilience with job creation, steady wage growth, and a 3.7% unemployment rate, while concerns mount over a potential deflationary spiral in China. Amidst geopolitical tensions reshaping global supply chains, the SEC's approval of the first Bitcoin spot ETF marks a significant foray into mainstream finance for cryptocurrencies. Each month, the Syz investment team takes you through the last 31 days in 10 charts.

Most of the major US #equity indexes moved higher over the week, with the S&P 500 Index reaching new highs and breaching the 5,000 threshold for the first time. The advance remained relatively narrow, however, with an equally weighted version of the index significantly trailing the standard market-weighted version for the fourth time in five weeks. #Nvidia soared and is now worth as much as the entire Chinese stock market (represented by the H shares of the Hong Kong stock market). Market sentiment was helped by the solid reception given to the U.S. Treasury Department’s record $42 billion auction of 10-year notes. Shares in New York Community Bank plunged after the lender reported weak results in the wake of its acquisition of failed Signature Bank during early 2023’s regional banking turmoil.

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