ADDX Go Morning Market Wrap- 2024 Sep 23

Market Key Focus

Equities: Dow rose to close at fresh record, posts winning week after big Fed rate cut.

Crypto: Altcoins surged, Leaving Bitcoin and ether behind after fed cuts interest rate.

US Treasury Bonds: The two-year Treasury yield, more sensitive to monetary policy, slid 0.007 basis points to 3.597%.

Euro Bonds: The euro zone's benchmark 10-year German bond yield is Unchanged at 2.211%.

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

Currencies, up 0.12% at 100.74.

Gold: COMEX December gold futures were up 1.24% in late trading, gaining to $2,674.1.

U.S. Oil: WTI October crude oil futures closed up at 71.25.

Smart Money Tracking

ARKK Investment Tracker Holdings Update:

Reduced holdings in Palantir Technologies Inc. by 47,757 shares, representing a 0.64%

decrease in the previous share count. Palantir now accounts for 4.71% of the total portfolio.

Trimmed holdings in Tesla by 7,045 shares, marking a 0.2% decrease in the previous share count. Tesla now makes up 13.88% of the total portfolio.

Reduced holdings in Roku Inc. by 16,895 shares, a 0.2% decrease in the previous share count. Roku now represents 11.34% of the total portfolio.

Stocks to Focus

Boeing machinists on picket lines prepare for lengthy strike: ‘I can last as long as it takes.’

Intel’s wild week leaves Wall Street more uncertain about the chipmaker’s future.

Middle Eastern funds are plowing billions of dollars into the hottest AI start-ups.

Motel 6 sold to an Indian hotel operator for $525 million.

Market events

Eurozone September Manufacturing PMI Preliminary:

Previous: 45.8

Forecast: 45.6

UK September Manufacturing PMI:

Previous: 52.5

Forecast: 52.5

US September S&P Global Manufacturing PMI Preliminary:

Previous: 47.9

Forecast: 48.5

US September S&P Global Services PMI Preliminary:

Previous: 55.7

Forecast: 55.3

Macros

Bank of England presses pause on rate cuts, highlights ‘gradual approach’.

Fed Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank.

Earnings

Pre-Market: (UXIN) Uxin Limited

After Hours: (RCAT) Red Cat Holdings, Inc.

US Equities

The S&P 500 closed down 11.09 points, or 0.19%, at 5,702.55.

The Dow Jones Industrial Average, closely related to the economic cycle, closed up 38.17 points, or 0.09%, at 42,063.36.

The Nasdaq, dominated by technology stocks, closed down 65.66 points, or 0.36%, at 17,948.32.

The Nasdaq 100 closed down 0.24%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of the Nasdaq 100 technology industry components, closed down 48.34 points.

The Russell 2000 Index, which is more sensitive to the economic cycle, closed down 1.1%.

The VIX index of fear closed down 1.1% at 16.15.

Crypto Market Insight

Altcoins Surge, Leaving Bitcoin and Ether Behind After Fed Cuts Interest Rate.

Jump's 'Frankendancer' Validator Client Is Live on Solana Mainnet.

YouTube Page of India's Supreme Court Hacked to Promote XRP.