ADDX Go Morning Market Wrap- 2024 Sep 20

Market Key Focus

Equities: Dow futures changed slightly after the index closed above 42,000 for the first time.

Crypto: Solana Unveils Details of Second Crypto Phone 'Seeker'.

US Treasury Bonds: The two-year Treasury yield, more sensitive to monetary policy, slid 0.034 basis points to 3.57%.

Euro Bonds: The euro zone's benchmark 10-year German bond yield is Unchanged at 2.192%.

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

Currencies, down 0.02%.

Gold: COMEX December gold futures slid 0.12% in late trading, gaining to $2,611.4.

U.S. Oil: WTI October crude oil futures closed up at 72.01.

Smart Money Tracking

ARKK Investment Tracker Holdings Update:

Reduced Position in Unity Software Inc.: Sold 773,831 shares, decreasing the holdings by 13.32% from the previous period. Unity now accounts for 1.71% of the total portfolio.

Increased Position in DraftKings Inc.: Added 188,456 shares, increasing the holdings by 5.6% from the previous period. DraftKings now represents 2.47% of the total portfolio.

Increased Position in Advanced Micro Devices (AMD): Added 46,949 shares, increasing the holdings by 10.78% from the previous period. AMD now makes up 1.31% of the total portfolio.

Stocks to Focus

Nike CEO Donahoe is out, replaced by company veteran Elliott Hill.

Disney will ditch Slack after the July data breach.

After the proxy fight, Masimo CEO Joe Kiani was ousted from the board; Politan won two seats.

UAW warns of potential strikes at Ford, Stellantis a year after unprecedented work stoppages.

Market events

Germany August PPI (Producer Price Index) Month-on-Month

Previous Value: 0.20%

Forecast Value: 0%

Macros

Ray Dalio says the Fed faces a tricky balancing act.

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

Earnings

Pre-Market: Tamboran Resources Corporation (TBN)

US Equities

The S&P 500 closed up 95.38 points, or 1.7%, at 5,713.64.

The Dow Jones Industrial Average, closely related to the economic cycle, closed down 522.09 points, or 1.26%, at 42,025.19.

The Nasdaq, dominated by technology stocks, closed up 440.68 points, or 2.51%, at 18,013.98.

The Nasdaq 100 closed up 2.1%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of the Nasdaq 100 technology industry components, closed down 495.33 points.

The Russell 2000 Index, which is more sensitive to the economic cycle, closed up 2.1%.

The VIX index of fear closed down 10.42% at 16.33.

Crypto Market Insight

Crypto Investment Firm Deus X Capital Unveils DeFi Unit, Which Will Start New Yield Generating Protocol.

Ethereum Developers Confirm Plan to Split 'Pectra' Upgrade In Two.

Defi Lender Sky Ratifies Plan to Offboard Wrapped Bitcoin Due to Sun Concerns.