ADDX Go Morning Market Wrap- 2024 Sep 24

Market Key Focus

Equities: Stock futures are flat after Dow closes at a fresh record.

Crypto: Polymarket Reportedly Seeks $50M in Funding, Mulls Token as Election Bets Surge.

US Treasury Bonds: The two-year Treasury yield, which is more sensitive to monetary policy, remained unchanged at 3.578%.

Euro Bonds: The euro zone's benchmark 10-year German bond yield is Unchanged at 2.157%.

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

Currencies up 0.09% at 100.94.

Gold: COMEX December gold futures were down 0.06% in late trading, gaining to $2,651.1.

U.S. Oil: WTI October crude oil futures closed up at 71.92.

Smart Money Tracking

ARKK Portfolio Updates:

Roblox Corporation: ARKK has reduced its position by 28,599 shares, representing a 0.33% decrease in its holdings. Roblox now constitutes 6.81% of the total portfolio.

Coinbase Global, Inc.: ARKK has trimmed its position by 4,580 shares, marking a 0.2% decrease. Coinbase now accounts for 6.46% of the total portfolio.

Block, Inc.: ARKK has decreased its position by 8,655 shares, reflecting a 0.2% reduction in holdings. Block now makes up 5.01% of the total portfolio.

Stocks to Focus

As the strike enters the second week, Boeing sweetens the labor proposal with a ‘best and final’ offer.

Southwest Airlines tells staff to make ‘difficult decisions’ ahead of time in pushing to boost profits.

GM’s EV sales momentum is finally building as new vehicle lineup fills out.

Trump Media plummets 10% as post-lockup selloff picks up steam.

Market events

U.S. September Conference Board Consumer Confidence Index (Previous: 103.3, Forecast: 103.8)

U.S. September Richmond Fed Manufacturing Index (Previous: -19, Forecast: --)

Macros

Britain’s finance minister calls for spending discipline but no return to austerity.

Ray Dalio says the Fed faces a tricky balancing act.

Earnings

Pre-Market: AutoZone( $AZN), Thor Industries($THO)

After Hours: KB Home ($KBH), Stitch Fix( $SFIX)

US Equities

The S&P 500 closed up 16.02 points, or 0.15%, at 5,718.57.

The Dow Jones Industrial Average, closely related to the economic cycle, closed up 61.29 points, or 0.15%, at 42,124.65.

The Nasdaq, dominated by technology stocks, closed up 25.95 points, or 0.14%, at 17,974.27.

The Nasdaq 100 closed up 0.31%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of the Nasdaq 100 technology industry components, closed down 60.71 points.

The Russell 2000 Index, which is more sensitive to the economic cycle, closed down 0.34%.

The VIX index of fear closed down 1.61% at 15.89.

Crypto Market Insight

Polymarket Reportedly Seeks $50M in Funding, Mulls Token as Election Bets Surge.

JP Morgan's Onyx Blockchain Used for Siemens' Digital Commercial Paper Settlement.

Blockchain Data-Availability Project Celestia's Foundation Raises $100M.

Canada Moves Away From Retail CBDC, Shifts Focus to Broader Payments.