ADDX Go Morning Market Wrap- 2024 Sep 25

Market Key Focus

Equities: Stock futures are little changed after the Dow and S&P 500 hit record highs

Crypto: FTX fraudster Caroline Ellison sentenced to 2 years in prison, ordered to forfeit $11 billion

US Treasury Bonds: The two-year Treasury yield, more sensitive to monetary policy, slid 0.002 at 3.518%.

Euro Bonds: The euro zone's benchmark 10-year German bond yield slid 0.009 at 2.148%.

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

Currencies down 0.21% at 100.26.

Gold: COMEX December gold futures were up 0.3% in late trading, gaining to $2,685.1.

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

Smart Money Tracking

Soros Portfolio Tracker

Initiated a new position of 450,000 shares in the S&P 500 ETF, now comprising 7.52% of the total portfolio.

Increased holdings of AstraZeneca by 2,051,538 shares, a 512.88% increase from the previous quarter, now making up 5.87% of the total portfolio.

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

Stocks to Focus

Nvidia shares pop as the CEO may be done selling shares after hitting the preset plan limit.

U.S. Steel CEO defends planned sale to Japan’s Nippon, believes the deal will close on its merits

Jensen Huang Finally Sells Out! Completes Nvidia Share Sale Early, Cashes Out Over 4.9 Billion RMB

Q2 2024 Global AIB Graphics Card Report: Nvidia Dominates with 88%, AMD Follows with 12%, Intel Remains Steady.

Is the "Most Advanced Consumer Electronics Device" Coming? Meta's First AR Glasses Debut Tonight

Market events

U.S. EIA Crude Oil Inventory for the Week Ending September 20

Previous Value: -1.63 million barrels

Forecast: -1.20 million barrels

Macros

September consumer confidence falls the most in three years

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

Earnings

Pre-Market: Cintas(CTAS)

After Hours: Micron (MU), Conentrix (CNXC), Jefferies(JEF), H.B. Fuller(WS),

US Equities

The S&P 500 closed up 16.02 points, or 0.15%, at 5,732.93.

The Dow Jones Industrial Average, closely related to the economic cycle, closed up 83.57 points, or 0.2%, at 42,208.22

The Nasdaq, dominated by technology stocks, closed up 100.25 points, or 0.56%, at 18,074.52

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 down 92.64 points.

The Russell 2000 Index, which is more sensitive to the economic cycle, closed up 0.17%.

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

Crypto Market Insight

Ex-Alameda Research CEO Caroline Ellison Sentenced to Two Years in Prison for Her Role in FTX Fraud

Sky Reconsiders Plan to Offboard Wrapped Bitcoin After Chat With BitGo CEO

Bitcoin Pushes Past $64K as Monetary Ease Expectations Grow.

Ethereum ETFs Record Biggest Outflows Since July in Sign of Low Institutional Appeal