In today’s Recap, Marcello talks to us about how Europe is facing a tough mix of crises, with both weather and economic warnings piling up. In Spain, record-breaking rainfall in Valencia flooded streets, destroyed homes, and left dozens dead, marking one of Europe’s worst floods in years. As citizens continue to search for the missing, the EU is urging people to stock up on supplies, cautioning that many countries aren’t ready for a prolonged emergency. At the same time, Warren Buffett’s Berkshire Hathaway has sparked concern by selling a large chunk of its Apple shares, hinting at possible stormy waters ahead for the markets.

Meteorologists said a year’s worth of rain had fallen in 8 hours in parts of Valencia, Spain on Tuesday. Residents described seeing people clambering onto the roofs of their cars, as a churning tide of brown water gushed through the streets, uprooting trees & dragging away chunks of masonry from buildings. In the hard-hit rural town of Utiel, some 85 km (53 miles) inland, the Magro river burst its banks, sending up to three metres (9.8 feet) of water into homes, which are mostly single-storey. The floods have also wrecked crops and killed livestock.
Spanish rescue teams scoured flooded homes & stranded cars on Thursday for those still missing after devastating floods in the Valencia region that killed at least 95 people, with forecasts of more bad weather prompting storm alerts further north. Local authorities have not disclosed how many people are still unaccounted for after Europe’s deadliest floods in years,The floods battered Valencia’s infrastructure, sweeping away bridges, roads & rail tracks as well as submerging farmland in a region that produces about 2/3 of the citrus fruit grown in Spain, a leading global exporter of oranges.
The U.S. cryptocurrency exchange platform Coinbase fell -15.34% on Thursday at $179.25, in the worst day in over 2 year, after posting a Q3 earnings & revenue miss. Coinbase’s revenue came in at $1.21B, while analysts anticipated a top line figure of $1.26B. The stock is down -9.44% in the past 3 months, but up +6.45% in 2024 & +115.78% y/y, with a market cap of $44.88B.
The most recent jobs report offered a final look at the U.S. labor market ahead of next week’s election. The economy added a mere 12,000 jobs. The softer than expected October jobs report made traders more confident that the Federal Reserve will cut interest rates at both of its remaining policy meetings this year, rather than remaining passive.
Crude oil prices slightly rose on Friday, on reports that Iran is planning another attack on Israel through proxies. Despite the rebound, prices are still headed for modest weekly losses, due to widespread concerns over a weaker demand outlook & an oversupplied market in 2025, with traders waiting to see if OPEC+ will stick to its plan to start hiking output in December.
The e-commerce giant stock Amazon surged +6.19% on Friday at $197.93 on Q3 results that beat analysts’ expectations. The firm said on Thursday that it expects revenue in a range of $181.5B to $188.5B in Q4. Analysts had forecast $186.36B in revenue for the quarter. Amazon said operating income is expected to be between $16B & $20B during Q4. Wall Street had projected $17.49B. In Q3, Amazon posted earnings per share of $1.43 on revenue of $158.9B. Analysts had expected EPS of $1.16 on revenue of $157.29B. The firms’s cloud segment, Amazon Web Services, grew +19% y/y for the quarter. Shares are up +17.89% in the past 3 months, +30.27% in 2024 & +42.81% y/y, with a market cap of $2.08T.
A tax amnesty program in Argentina encouraging residents to deposit foreign currency kept in their homes or saved in accounts abroad drew around $18B by an initial deadline on Thursday, an official said. Libertarian President Javier Milei rolled out the plan earlier this year, to draw much-needed dollars back to Argentina’s formal economy, as it deals with a shortage of foreign currency reserves, amid a technical recession. The deposits are seen as signs of a vote of confidence in Milei’s leadershi,p as his austerity measures have helped bring down month-on-month inflation to single-digit figures. Annual inflation, however, remains in the triple digits.
Ukraine is using dozens of domestically made AI-augmented systems for its drones to reach targets on the battlefield without being piloted, a senior official said, disclosing new details about the race against Russia to harness automation. Systems that use artificial intelligence allow cheap drones carrying explosives to spot or fly to their targets in areas protected by extensive signal jamming, which has reduced the effectiveness of manually piloted drones.
Researchers have recently uncovered a secret Mayan city in Mexico which once featured an urban landscape of over 6,500 structures. The scientific team used lidar technology to create 3-dimensional models across 50 miles of land in Campeche, allowing them to map areas, not visible to the naked eye. The method revealed a 21-square-mile metropolis with iconic stone pyramids, houses & other infrastructure that have been concealed for over 3,000 years.

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In this week’s Recap, Marcello tells us how Tesla is making headlines with the launch of its new robots, driverless taxi, and driverless van, showcasing advancements in AI and automation. Meanwhile, Warren Buffett continues his massive sell-off, shedding billions of dollars in stocks over the past few months, signaling caution in the markets. And in the world of media, Joe Rogan’s highly anticipated interview with Donald Trump has sparked conversations about politics, media, and the future of the U.S.

Hurricane Milton marched across Florida starting on Wednesday & into Thursday, as the storm hit Florida’s west coast as a Category 3 hurricane, whipping up deadly tornadoes, destroying homes & knocking out power to 3.3M customers, but the Tampa Bay metropolitan area appeared to have escaped without the catastrophic flooding that had been feared. Authorities were still waiting for rivers to crest, but so far water levels were at or below what they received with Hurricane Helene 2 weeks ago.
Trump Media & Technology Group, the parent firm of Donald Trump’s Truth Social, rose 18.54% on Tuesday at $21.80, up for a 4th session of gains, in the longest rally since June, as investors assess Elon Musk support & latest media appearances by VP Harris as the Democratic nominee for president. More than 45M DJT shares were exchanged Tuesday, more than tripling its 30-day average volume. Trump owns nearly 57% of Trump Media, in a stake worth almost $2.5B as of Tuesday, gaining near $400M in valuation for the former president, who has vowed not to sell his shares. The stock is up +37.89% in the past 5 days & +30.70% in the past month.
European stock markets were higher on Friday,at more than a 1-week high as investors shifted their focus to updates on China’s stimulus plans, corporate earnings and an interest rate decision by the European Central Bank. Traders were also digesting the return of growth in the U.K. for the month of August & the posting on Thursday of France’s national budget.

Shares of the U.S. based electric vehicle (EV) maker Tesla fell -8.78% on Friday at $217.80, after its robotaxi event underwhelmed investors. Morgan Stanley analysts noted that the event overall disappointed expectations, due to a lack of details in several areas, including how the company is going to compete against ride-sharing companies, like Lyft & Uber. Shares of those firms jumped following the event, with Lyft surging +9.59% at $13.60 & Uber gaining +10.81% at $86.34. Tesla stock is down -12.26% in the past 3 months, -12.35% in 2024 & -13.27% y/y, with a market cap of $695.79B.

The post October 13: Tesla launches Robots, Warren Buffet Keeps selling, Joe Rogan interviews Trump (Recap ep295) appeared first on Investing & Day Trading Education: Day Trading Academy.

In today’s Recap, Marcello tells us that the tensions in the Middle East are reaching a dangerous peak as Israel escalates its military response, with commando and paratroop units launching raids into Lebanon on Tuesday. Hezbollah retaliated with missile strikes on Israel, targeting areas near Tel Aviv, while Iran fired over 180 ballistic missiles in a growing regional conflict. As fears of an all-out war loom, financial markets are also feeling the impact. Warren Buffett’s Berkshire Hathaway continued its massive stock selloff, offloading another $338M worth of Bank of America shares this week, bringing the total to over $9B since mid-July.

It was reported on Thursday that Berkshire Hathaway sold another chunk of Bank of America shares during the past 3 trading sessions, bringing its remaining stake to just +10.2%. Warren Buffett’s conglomerate dumped more than 8.5M shares of the bank worth $338M, according to a new regulatory filing. Berkshire has shed more than $9B worth of the bank stock in a big selling spree, that started in mid-July. Once its stake drops below 10%, Berkshire will no longer have to disclose related transactions within 2 business days.
According to the U.S. Labor Department data released Friday, the U.S. added 254,000 jobs in September & the unemployment rate ticked lower to 4.1% The September jobs report blew past economist expectations, which foresaw the addition of 140,000 jobs & a jobless rate of 4.2%.
At least 215 people are known to have died as a result of the destruction wrought by Hurricane Helene, the 2nd deadliest storm in the U.S. in the last 50 years, since it made landfall in Florida a week ago.More than half of the deaths were in North Carolina, where several feet of fast-moving water destroyed entire communities.Hundreds are still missing, and officials have reported difficulties in identifying some of the dead. There is flood & wind damage that may end up costing $250B, in the states Florida, North & South Carolina, Georgia, Virginia, & Tennessee.
U.S. listed shares of the automaker Stellantis fell around 4.04% on Thursday at $13.08, hitting a new 52-week low during the session, following a downgrade to equal weight from overweight at U.K. investment banker Barclays. Analyst Henning Cosman said that the firm was “wrong-footed” on the stock, as it was “too slow to acknowledge its US inventory issue & eroding E.U. & U.S. market shares.
Shares of Tesla fell -3.49% on Wednesday at $249.02, after the U.S. electric vehicle company fell short of Q3 delivery estimates. Deliveries came in at 462,890, versus an earlier estimate of 463,310.Tesla is facing increased competitive pressure, especially in China, from companies like BYD & Geely, along with a new generation of automakers, including Li Auto & Nio
It is being reported Thursday evening that negotiations on the U.S. port strike continue & the parties reached a tentative agreement on wages & agreed to extend the master contract until Jan. 15. The sources said they will return to the bargaining table to negotiate all outstanding issues. 50K of U.S. dockworkers had walked off the job early Tuesday morning, clogging dozens of ports along the East & Gulf coasts. The ILA, the union representing the East Coast & Gulf Coast dockworkers under the contract at issue, was seeking higher wages & a ban on the use of some automated equipment.
On Thursday, Meta CEO Mark Zuckerberg surpassed Jeff Bezos as the world’s 2nd richest person.Zuckerberg’s net worth reached $206.2B topping the $205.1B net worth of the former Amazon CEO & president. The Facebook co-founder now trails Tesla chief Elon Musk by roughly $50B, With his 13% stake in Meta, Zuckerberg’s net-worth has risen by $78B since the beginning of the year, which is more than any member of the 500 richest people globally. Meta shares closed at a record high on Thursday at $582.77, representing a roughly 68% jump from early January, when its shares were trading at $346.29.

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In today’s recap, Marcello talks about how Warren Buffett’s Berkshire Hathaway has been aggressively selling off billions in stock, including $896 million worth of Bank of America shares and around $8 billion in Vodafone since mid-July. Meanwhile, the Federal Reserve made headlines by cutting interest rates by 50 basis points on Wednesday—the first reduction in 2.5 years. Also, Apple shares fell -2.78% amid reports of sluggish demand for its latest iPhone models, with iPhone 16 sales down 12% compared to the previous year’s launch.

The U.S. national debt has ballooned to $35.378 trillion, and the Treasury Department has already spent $1 trillion this fiscal year. By the end of 2024, interest payments on the debt are projected to total $1.2 trillion, second only to Social Security spending at $1.5 trillion. Under Trump, the national debt increased by $7.3 trillion, but Biden has already surpassed that with $8.4 trillion in new debt.
Warren Buffett’s Berkshire Hathaway has been actively selling off its stake in major companies throughout 2024, including dumping $896 million in Bank of America shares, reducing its position to 836 million shares (a 10.8% stake). Berkshire has also offloaded around $8 billion worth of Vodafone stock since mid-July. Meanwhile, the Federal Reserve cut interest rates by 50 basis points on Wednesday, marking the first rate reduction in 2.5 years, bringing the fed funds rate to 4.75%-5%.
Apple shares fell -2.78% on Monday to $216.32 after reports of sluggish demand for its latest iPhone models. Analysts noted that iPhone 16 demand is down 12% compared to the iPhone 15 during its launch weekend, with data suggesting weaker sales for the Pro models.
The U.S. Federal Reserve cut interest rates by 50 basis points Wednesday, the central bank’s 1st rate reduction following a two-and-a-half year crusade against inflation that raged in the wake of the pandemic. The new federal funds rate is 4.75% to 5% , a large rate cut that signals the Fed’s confidence that its war against inflation is coming to an end. The Fed incrementally increased interest rates from near 0 in March 2022 to a range of 5.25 to 5.5% last July, as it battled rising inflation, which peaked at 9.1% in June 2022.
Sugar futures surged to their largest weekly gain in years, driven by “unusual and persistent weather events” in Brazil. Roughly 59% of the country is currently facing drought conditions, with some Amazon rivers hitting all-time lows, making several waterways unnavigable. This severe drought has led to fears of reduced crop yields, causing a significant spike in sugar prices.
Gold prices have soared to unprecedented levels, setting a new record high and closing price. This surge is attributed to a perfect storm of economic and geopolitical factors, primarily driven by the Federal Reserve’s recent monetary policy shift and escalating tensions in the Middle East. December gold was trading at $2,647.10 on Friday.
The U.S. delivery giant FedEx shares plunged -15.23% on Friday at $254.64, after reporting a steep quarterly earnings drop. The firm also lowered its full-year revenue forecast. CEO Raj Subramaniam said industrial demand was softer than expected, while FedEx’s customers continued to shift to cheaper, slower delivery options, which has squeezed profits. The stock is up +0.66% in 2024, but down -2.47% y/y, with a market cap of $62.21B.
Tesla shares +7.36% Thursday at $243.92, as the EV maker rallied along with other auto-makers due to the larger than expected interest rate cut by the Fed . Vehicle insurance registrations last week in China declined sequentially, but the firm is still trending towards its best ever quarterly deliveries total in the world’s largest EV market, with just 2 weeks left in Q3.Tesla registrations in China, a rough gauge for deliveries, are up +26% vs last quarter & have increased over +20% vs. a year ago.Tesla’s China vehicle registrations in Q3 are now nearly +5% above Q4 2023, the EV giant’s best ever quarterly performance. The stock is up +33.28% in the past 3 months, but still down -1.84% in 2024 & -0.39% y/y, market cap of $779.24B.

The post September 22: Warren Buffet Sells Billions, Fed Drops interest rates, iPhone Demand Craters (Recap ep293) appeared first on Investing & Day Trading Education: Day Trading Academy.

This week saw a variety of significant developments across markets, commodities, finance, and international affairs. In the US, markets remained volatile with the Consumer Price Index (CPI) for core inflation showing an unexpected rise in August. Meanwhile, energy markets faced turbulence, with oil recording its worst week in nearly a year. On the other hand, precious metals rallied on Friday, fueled by optimism around potential interest rate cuts. In a notable legislative move, New Jersey eliminated sales taxes on gold and silver, adding momentum to the precious metals market.

Financial and economic news remained a mixed bag. Bolivian inflation hit its highest level in nearly a decade at a 12-month rate of 5.19%, while Argentina’s inflation for August was projected at 3.9%. German inflation, on the other hand, dropped to its lowest point in over three years, prompting the European Central Bank (ECB) to cut interest rates by another 0.25%, bringing them down to 3.50%. This reduction follows a similar cut in June, putting the ECB within striking distance of its 2% inflation target. Japan’s second-quarter GDP also saw a positive uptick of 2.9% on an annualized basis, reflecting a more optimistic economic outlook.

In the political arena, tensions were high with a second reported assassination attempt on former US President Donald Trump and an active shooter incident on a golf course. Violent crime statistics continued to paint a grim picture compared to 2020, with figures showing a 40% increase in violent crimes overall. Notably, car thefts were up 42%, aggravated assaults increased by 55%, and violent attacks by strangers surged 61%. These figures underscore growing concerns over public safety in many parts of the country.

Corporate news highlighted both challenges and opportunities. Samsung announced plans to slash its global workforce by up to 30% amid stiff competition from Apple and Huawei. BMW had a rough week, with shares dropping 11.15%, marking the automaker’s worst day in more than four years, largely driven by sluggish demand in China. Boeing faced another setback, with over 30,000 workers poised to strike after rejecting a new labor contract, threatening to halt production of aircraft, including the best-selling 737 Max. Ally Financial, one of the largest US banks, reported rising delinquencies and charge-offs, causing significant concern in the financial sector, while Big Lots prepared for bankruptcy, planning to shut down 1,400 stores across the country.

In technology, Nvidia shares rebounded significantly, climbing 8.15% on Wednesday and another 3% on Thursday, driven by rising demand for chips. Nvidia has seen an impressive 143% increase in stock price in 2024, reflecting the company’s growing dominance in the tech sector. SpaceX once again made headlines by successfully completing the world’s first private spacewalk, pushing the boundaries of commercial spaceflight. Meanwhile, internationally, South America’s Paraguay River hit a record low, hampering critical trade routes for soy, corn, and other exports, while Bolivia declared a national emergency due to raging forest fires.

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In this week’s Recap, Marcello shows us how the U.S. stock markets have seen over $2 trillion wiped out in just six days, a loss equivalent to the entire GDP of Canada. With growing recession fears sparked by the latest jobs report, stocks have taken their worst hit since March 2023. Meanwhile, Tesla’s stock has surged nearly 5%, as the company prepares to expand its Full Self-Driving technology to China and Europe, pending regulatory approval. There are also some concerns rising in California, there might be an earthquake coming.

U.S. stock markets were far lower on Friday, in the worst trading week since March 2023, after the latest jobs report had investors increasingly concerned over possibility of recession. Concerns that AI demand won’t live up to lofty priced-in expectations hit tech shares. Anxiety about the economy has shaken markets again this week, sending the benchmark 10-year Treasury yield to its lowest level of the year, during a volatile trading day.
Crude prices fell further Friday to its lowest level since June 2023, in the worst week in nearly a year. Saudi Arabia’s state-run oil company has cut its October pricing for its Arab Light crude oil for Asian buyers, according to the new price list. Saudi Aramco has cut its Arab Light crude oil by $0.70. Saudi Aramco has also lowered the price of Arab Light to Europe & the U.S. As an economic slowdown is impacting ever more of the global economy, it is likely oil demand will be impacted as well.
Elon Musk’s satellite broadband firm, Starlink, on Tuesday stated that it is complying with Brazil’s top court order to block access to social media platform X in the country, a day after informing the country’s regulator it wouldn’t obey the order. Starlink had emerged as a fresh battleground between Musk & Brazil, as top court judge Alexandre de Moraes ordered the freeze of the company’s accounts for possible use to pay fines owed by X, which is also owned by Musk.
Colombia’s government on Friday reached a deal with truckers to suspend a protest over a rise in diesel prices, after road blockades threatened to cause food & fuel shortages in the biggest cities. The deal came after the government backed down from its plan to increase the price of diesel by 1,904 pesos ($0.45 ) per gallon starting this month, instead agreeing to a rise of just 800 pesos in 2 equal increments during the rest of the year.
Rancho Palos Verdes, a coastal community in the Los Angeles area,is a geological ticking time bomb. The affluent city sits atop steep cliffs overlooking spectacular views of the Pacific Ocean that, for 100’s of years, have been slowly shifting & giving way. Now, that movement is accelerating. Whereas the ground slid downward 8 inches annually in years past, it has lurched 13 inches per week in some places, between July & August. The resulting landslides have ripped apart seaside mansions, buckled roads & forced the utility provider to cut electricity to nearly 250 homes, to avoid the possibility of fires. This week the governor of California declared a state of emergency for the community.

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In US Market News, Monday marked the eighth consecutive session of gains for U.S. stocks, with traders anticipating Federal Reserve Chair Jerome Powell’s comments later in the week. The Fed’s latest policy meeting reinforced expectations of a rate cut in September. Powell confirmed that rate cuts are forthcoming but did not specify the timing. Additionally, new data indicated weaknesses in the labor market.

In Conspiracy News, reports suggest the Atlantic Ocean is cooling at a record pace, baffling climate scientists. Concerns are also mounting over high fluoride exposure in children, which has been linked to lower IQ and other neurodevelopmental issues. Notably, toothpaste labels now advise calling emergency services if ingested.

In Bitcoin and Crypto News, Japan’s banks are set to adopt XRP for transactions starting in 2025. This move places Japan at the forefront of digital currency integration, allowing nationwide XRP payments and rewards.

In Commodities and Energy, peace talks in the Middle East are reducing supply risks, while China’s economic weakness poses a threat to demand. Chinese refineries have reduced crude processing rates due to low fuel demand. U.S. crude futures fell 3.01% to $74.34, while Brent futures dropped 2.51% to $77.68. Gold has risen 22% in 2024, reaching an all-time high, with a bar of gold now valued at $1 million.

In Financial and Banking News, China plans to bolster its social security fund by 2.88 trillion yuan ($406 billion) to support its aging population, with 300 million Chinese expected to retire in the next decade. By 2040, half of the people over 65 in the Asia-Pacific region will live in China. Projections indicate China’s pension system could run out of funds by 2035.

In Economic News, Japan’s business activity hit a 15-month high in August, with growth in both manufacturing and services sectors. In the U.S., July home sales ended a four-month decline, with supply increasing by nearly 20% compared to last year.

In Political News, Venezuela’s Supreme Justice Tribunal upheld Nicolás Maduro’s presidential election victory on July 28. Meanwhile, Robert F. Kennedy Jr. withdrew from the presidential race and endorsed Donald Trump.

In Corporate News, Telegram founder Pavel Durov was arrested in France and faces up to 20 years in prison. Warren Buffett’s Berkshire Hathaway sold 13.9 million more major bank shares, reducing its stake to 11.9%.

In Technology, Taiwan’s TSMC, the world’s largest contract chipmaker, opened a new chip plant in Dresden, Germany. This move strengthens TSMC’s position as a key supplier to Europe’s industrial and automotive sectors, supported by 5 billion euros ($5.5 billion) in state aid.

In Interesting Facts, archaeologists discovered a giant rock in the Colombian Amazon with animal paintings dating back to around 12,500 BC. This find offers insights into the diet and mythologies of the continent’s early inhabitants.

The post August 25: Record Cooling Atlantic Ocean, Interest Rate Gods Respond, Warren Buffett Keeps Selling (Recap Ep290) appeared first on Investing & Day Trading Education: Day Trading Academy.

In this week’s Recap, Marcello let us know that gold continues to explode in value, reaching record highs as investors anticipate a rate cut from the Federal Reserve. Meanwhile, a “doomsday” fish has been discovered off the coast of California, raising concerns of seismic activity, and Japan has issued a stark warning, urging citizens to prepare for a potential mega earthquake.

The latest inflation data released on Wednesday has given investors confidence that a rate cut from the Federal Reserve is likely next month. The Consumer Price Index (CPI) showed prices rose by 2.9% over the past 12 months through July, which was below economists’ expectations of 3%.

A rare “doomsday” fish, the Oarfish, was found near the Southern California shore, raising concerns. Known as the largest deep-sea fish, the Oarfish has historically been linked to seismic activity, with more than 20 washing ashore in Japan just months before the devastating 9.1 earthquake in 2011. The governments of Japan and the Philippines are now warning citizens to prepare for a potential mega quake.

Iron ore prices hit their lowest level since 2022 on Wednesday, driven by concerns over global supply and demand imbalances. China’s steelmakers are in crisis, cutting output just as major miners boost exports. Futures fell for the fourth consecutive day in Singapore, with China’s steel production about 9% lower than a year ago, signaling a slowdown in the largest importer of seaborne iron ore.

In the UK, inflation rose to 2.2% in July, slightly below expectations. Meanwhile, the Eurozone’s GDP grew by 0.3% quarter-on-quarter in Q2, with employment rising by 0.2%. France saw its consumer prices increase by 2.7% year-on-year in July, slightly up from the previous month’s preliminary reading.

Huawei is preparing to introduce a new AI chip in a bid to challenge Nvidia’s dominance in China, especially amid U.S. chip export controls. The tech giant has been testing the latest chip in recent weeks and aims to start shipping as early as October.

Greece’s worst wildfire of the year spread into the Athens suburbs on Monday, forcing hundreds of people to flee as the flames crept on residential areas.

The post August 19: Gold cont to explode, Doomsday Fish found California, Japan Warns mega earthquake (Recap ep289) appeared first on Investing & Day Trading Education: Day Trading Academy.

In today’s Recap, Marcello informs us that Warren Buffett has sold more stock in the last quarter than at any other time in Berkshire Hathaway’s history, signaling a potential collapse in the markets. Global stocks have taken a severe hit, with the U.S. experiencing its worst trading session in two years and Japan suffering its biggest point drop ever, driven by a carry trade liquidation following an interest rate hike. The fallout has been massive, with the “Magnificent 7” companies in the U.S. losing over half a trillion dollars in a single day, marking the worst day of trading since 1987. Meanwhile, as markets plunge, the U.S. is also grappling with record-breaking cold weather, with over 30 cities experiencing temperatures typically seen in October. Mainstream media has largely been silent on the dozens of nighttime low-temperature records being shattered across the country.

The 7 most-valuable U.S. tech companies, the Magnificent 7, lost a combined $1 trillion in market value, at the start of trading on Monday. The losses were later pared in the session ending down $650B in market capitalization. Nvidia shed over $300B in market cap at the opening bell, though it quickly recovered about half of its loss. Shares of the chipmaker closed down -6.4% for a loss of $168B. Apple & Amazon’s valuation plummeted $224B & $109B, respectively, at the market open. Apple ended down -4.8%, or $162B in market cap. Amazon dropped -4.1% at the close, or $72B.
U.S. stock markets moved far higher on Thursday, with the S&P 500 in its best session since 2022, after the latest data release on the U.S. economy concerning jobs. Weekly initial claims fell to a lower-than-expected 233K, down from a revised-up 250K, the week before. The data came following last week’s weak jobs report. Treasury bonds fell, with the 10-year yield hitting 4%
Japan’s current account surplus for June came in at 1.533T yen ($10.2B), lower than the 1.789T yen expected by economists. Japan posted a current account surplus of 12.68T yen (about 87B U.S. dollars) in the 1st half (H1) of 2024, helped by record returns on foreign investments, amid the yen’s depreciation & a smaller trade deficit.
Airbnb shares fell near -14% in after-hours trading on Tuesday at $112.75, after the company reported Q2 earnings that missed analyst expectations & warned that it’s seeing signs of slowing demand from U.S. customers. Earnings per share came in at $0.86 versus $0.92 expected. Revenue was $2.75B vs. $2.74B expected. Revenue did increase +11% year-over-year. Airbnb reported a net income of $555M down -15% from $650M, or $0.98 per share, in the year-ago quarter. The company guided to Q3 revenue of $3.67B to $3.73B, but also warned that it expected moderation in y/y growth, relative to the current quarter. The stock is down -18.36% in the past 3 months, -4.16% in 2024 & -6.51% y/y, with a market cap of $80.71B.
Many analysts are predicting that gold prices will continue to rise, as investors focus on Federal Reserve interest cuts, while ETF inflows & central bank buying continue to provide support against a backdrop of geopolitical risk. June’s purchases were once again led by emerging market central banks. Uzbekistan & India both added 9 tonnes to their gold reserves during the month.
The electric vehicle stock Rivian Automotive fell -6.86% on Wednesday at $13.79 after the U.S. company’s net losses in Q2 widened to $1.46 B from a Q1 loss of $1.45B & from $1.2B in the year-ago period. The loss was nearly $300M worse than Q2 last year.The company did top expectations for certain metrics, with an adjusted loss of $1.13 per share. Analysts surveyed were expecting a loss of $1.21 per share. Rivian’s financial losses have crept up, as it pushed out the last of its 1st-generation R1 trucks & SUVs in favor of newer, more cost-efficient versions in a sign of just how much the company could use the $5B it could get as part of a recently announced deal with Volkswagen Group.
U.S. Vice President Kamala Harris ended weeks of speculation on Tuesday by choosing Minnesota Gov. Tim Walz a Democrat , as her running mate. 1st elected to Congress in 2006, Walz served in the House of Representatives for 12 years & rose to become the top Democrat on the powerful Veterans Affairs Committee, before heading home in 2019 to lead the North Star State. Walz was not only popular on in Congress, but he also had the distinction of being the highest-ranking enlisted soldier in the history of Congress, a status that allowed him to gain supporters in both parties.
After sweltering in its hottest July in observed modern history, China has been hit by extreme heat, particularly in the east & south of the country. Zhejiang’s provincial capital Hangzhou recorded a 41.9C historical high on Aug. 3.It was reported on Thursday, that at least 2 people have died from heat-stroke in 1 Chinese city, & many more have fallen ill, as temperatures hovered around 40 degrees Celsius (104 degrees Fahrenheit) for the 8th day on the eastern seaboard. Over the next 3 days, most areas south of the Yangtze River, like in Shanghai, are expected to get hit by 37C-39C heat, with temperatures in parts of Anhui, Jiangsu & Zhejiang provinces exceeding 40C, forecasters have stated.

The post August 11: Warren Buffett Sells Most Stocks Ever! Collapse In Stocks, Record Cold Weather (Recap ep288) appeared first on Investing & Day Trading Education: Day Trading Academy.

In today’s Recap Marcello shows us how Warren Buffett is signaling trouble ahead, with Berkshire Hathaway’s cash pile hitting a record $276.9 billion as he sold off major stocks, including half its stake in Apple. This marks seven straight quarters of selling, shedding over $75 billion last quarter alone. Meanwhile, FedEx is cutting daytime flights by 60% to save money, McDonald’s is seeing a drop in same-store sales for the first time since 2020, and Chevron is moving from California to Texas. On top of that, the assassination of Hamas leader Ismail Haniyeh in Iran is raising fears of a bigger conflict in the Middle East.

Berkshire Hathaway’s cash pile swelled to a record $276.9 billion last quarter as Warren Buffett sold significant portions of the company’s stock holdings, including half of its stake in Apple. Berkshire has been a seller of stocks for seven consecutive quarters, with the selling accelerating in the last quarter, resulting in over $75 billion in equities being shed.
U.S. markets plunged lower on Thursday. Weakening employment, manufacturing & construction data pushed 10 year Treasury yields below +4% & prompted a broad selloff in stocks. Investor fears over a recession have resurfaced. New data showed that U.S. manufacturing activity contracted for a 4th straight month. An ISM (Institute for Supply Management) index slid to 46.8 last month from 48.5 in June, to an 8 month low, moving further away from the 50-plus level that signals expansion.
Oil fell to the lowest price levels in nearly 7 months on Friday, as concerns about demand in the world’s 2 biggest economies which overshadowed heightened geopolitical risk in the Middle East. Investor sentiment in the oil market has deteriorated as factory gauges in both China & the U.S. showed contractions this week, signaling further weakness in manufacturing. Losses for futures deepened after US payrolls data failed to meet expectations as unemployment reached 3 year highs.
Formerly the world’s largest chipmaker, U.S. based Intel has gotten beaten by rivals in recent years & is far behind in the AI race. The stock had its worst day in 50 years on Friday down -26.06%at $21.48, to a level not seen since 2013. Intel reported a big earnings miss & announced a mass restructuring that includes cutting 15% of its workforce. Intel expects Q3 revenue of between $12.5B & $13.5B, well short of analysts’ expectations of $14.3 B The company reported earnings per share (EPS) of $0.02 on revenue of $12.8 B Analysts were looking for EPS of $0.10 & revenue of $12.9B. The company saw EPS of $0.13 on revenue of $12.9B in the same quarter last year,The stock is -57.25% in 2024 & -38.87 y/y. market cap of $91.44B.
Chicago Mercantile Exchange (CME) cattle futures have plunged sharply, with back-month feeder cattle contracts setting new lows, as signs of a weakening U.S. economy spurred market participants to unwind long positions. Cattle futures are dropping as a falling stock market prompts worries that consumers will pull back from high-priced beef. Sales of steak typically increase when equity markets rise & with stocks selling off after a weak US jobs report, prices for cattle are tracking the downturn. The volatile trading began after the U.S. Labor Department reported the U.S. unemployment rate had jumped to a near 3-year high in July, heightening market fears that the economy was vulnerable to a recession.
The United States on Thursday recognized Venezuelan President Nicolas Maduro’s opponent & opposition candidate Edmundo Gonzalez as the winner of Venezuela’s disputed presidential election, rejecting Maduro’s claim of victory. The country’s opposition says its tally of about 90% of the votes shows that Gonzalez received more than double the support of the incumbent president, in line with independent polling conducted before the contest.The opposition has released detailed tallies on a public website, while the government has so far not shared any information beyond a national total of votes for each candidate.
The UAE to be the world’s top wealth magnet for the 3rd year running, At the same time, the U.K, already the source of many of the UAE’s expatriates, is projected to see its millionaire population drop by 17% by 2028. High-net-worth individuals are in many cases leave, as costs & taxes rise in their home country. The trend is likely to accelerate in the wake of the landslide election victory for the U.K.’s Labour Party in June. The UAE is set to see a record net inflow of 6,700 millionaires from around the world by the end of 2024, which was released in June. That’s nearly double the 2nd-ranked country on the list, the U.S., which is expected to welcome a net inflow of 3,800 millionaires in the same time frame.

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In this week’s Recap, Marcello tells us that Wednesday marked the worst day for the stock market since 2020, with a major sell-off wiping out $1.1 trillion from the US stock market. Major tech stocks took a significant hit, with many experiencing double-digit declines in a large tech rout. In political news, President Biden has officially ended his bid for a second term, endorsing Kamala Harris as the Democratic nominee. He intends to remain in office and serve out the rest of his term, which ends in January 2025. Additionally, Paris is facing a blackout crisis just ahead of the Olympic Games, adding to the global turmoil.

Although coffee futures fell Wednesday to 2 wk lows, both the high-end arabica beans favored by coffee chains like Starbucks & the more budget-friendly robusta variety have surged in price, thanks to major supply disruptions from Brazil to Vietnam. Up & down the supply chain, sellers have been raising prices & eliminating discounts to protect margins & many warn of further price increases. Coffee prices will keep rising until the middle of 2025, w/European consumers set to pay even more, as new deforestation regulations kick in. Expectations of another production shortfall in Vietnam, world’s top producer of robusta, is fueling a surge in prices for the bean variety used in blends & espressos.
Oil prices fell on Friday by over -1% in a 3rd weekly decline, as investor concerns over demand in China, the world’s largest importer, outweighed the stronger economic growth in the U.S. Oil imports to China were down -11% in 2024 & -10.7% y/y in June & refined product imports fell -32% during the same period, according to Chinese customs data.
U.S. home prices hit a new high in June for the 2nd straight month, with the median existing U.S. home sale price jumping to $426,900, a +4.1% increase from the same time last year, in the latest sign that the housing market remains unaffordable to millions of Americans. Low inventory of homes for sale in much of the country is pushing prices higher. The spring home-buying season, usually the busiest time of year for the housing market, was flat this year. Home sales declined in June for the 4th straight time on a monthly basis. The combination of high prices & elevated mortgage rates has made homeownership less attractive to renters & deterred current homeowners from moving.
On Tuesday CEO Elon Musk stated humanoid robots will be in production within the company next year causing Tesla shares to rise earlier in the week. On Wednesday the stock plunged -12.33% to $215.99 in the general U.S. market downturn & after the company’s earnings for Q2 came in weaker than expected. Tesla did beat expectations on revenue, however, posting $25.5B compared to the consensus estimate of $24.77B. Shares are still up +26.92% in the past 3 months, but still down -13.08% in 2024 & -15.53% year on year with a market cap of $785.75B.
U.S. shares of Spotify Technology surged +11.96% on Tuesday at $330.79, after the Swedish based music streaming company posted better-than-expected Q2 earnings. Gross margin & operating income also surpassed expectations. Analysts remain cautiously optimistic, despite softness in monthly active user counts, pointing to strong margin performance & the company’s focus on premium subscribers & bundles.

The post July 28: Worst Day Stocks since 2020, Blackout Paris for Olympic Games, Kamala officially running President (Recap ep286) appeared first on Investing & Day Trading Education: Day Trading Academy.