ADDX Go Morning Market Wrap- 2024 Sep 14

Market Key Focus

Equities: S&P 500 and Nasdaq rally Friday to cap best week in 2024

Crypto: Crypto firm Circle to move headquarters to New York City ahead of planned IPO

US Treasury Bonds: The two-year Treasury yield, more sensitive to monetary policy, slid 0.0061 basis points to 3.587%.

Euro Bonds: The euro zone's benchmark 10-year German bond yield fell 0.002 basis points to 2.156%

Currency: The dollar index DXY, which measures the dollar against a basket of six major

currencies, down 0.005%.

Gold: COMEX December gold futures gained 0.99% in late trading, gaining to $2606.2

U.S. Oil: WTI October crude oil futures closed up at 69.24

Smart Money Tracking

Soros Quantum Fund Holdings Tracking

Opened a position in 450,000 shares of the S&P 500 ETF, currently representing 7.52% of the total portfolio.

Increased its position in AstraZeneca by 2,051,538 shares, a 512.88% rise from the previous holding, now making up 5.87% of the total portfolio.

Increased its position in Westrock Company by 2,442,952 shares, a 271.44% increase from the prior quarter, now accounting for 5.16% of the total portfolio.

Stocks to Focus

Boeing warns strike will ‘jeopardize’ recovery, hurt aircraft production；Moody's places Boeing on a downgrade watch, potentially lowering its rating. As the market closed, the stock fell by 3.59%.

Shein and Temu prices are set to get a lot higher as Biden takes aim at retailers linked to China

MicroStrategy stock pops 8% after company ups bitcoin holdings to $14.6 billion

Uber to launch self-driving taxi service with Alphabet's Waymo in Austin and Atlanta in early 2025. Uber stock surges over 6% intraday on the news.

Market events

University of Michigan Consumer Sentiment Index for September (Preliminary):

Forecast: 68.5 Actual: 69

Macros

Interest payments on the national debt top $1 trillion as the deficit swells

Wholesale prices rose 0.2% in August, in line with expectations

Earnings

No Earnings for Today

US Equities

The S&P 500 closed up 30.26 points, or 0.54%, at 5626.02.

The Dow Jones Industrial Average, which is closely related to the economic cycle, closed up 297.01 points, or 0.72%, at 41393.78

The Nasdaq, which is dominated by technology stocks, closed up 114.3 points, or 0.65%, at 17683.98.

The Nasdaq 100 closed up 0.47%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of the Nasdaq 100 technology industry components, closed up 91.52 points.

The Russell 2000 Index, which is more sensitive to the economic cycle, closed up 2.49%.

The VIX index of fear closed down 2.99% at 16.56

Crypto Market Insight

MicroStrategy Makes Its Largest Move in Three Years, Investing $1.1 Billion to Increase Its Bitcoin Holdings.

Crypto firm Circle to move headquarters to New York City ahead of planned IPO

Sam Bankman-Fried Appeals Fraud Conviction, Requests New Trial