Tom Nash
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Daily Market Update
🕑 Added 2024-09-12 14:36:32 +0000 UTCBuckle up because we’ve got a lot to cover today.
Yesterday’s stock market was like trying to predict what grandpa was going to do next—full of surprises.
The S&P 500 wobbled up and down yesterday, but eventually ended the day on a modest rise of 0.3%. Not exactly fireworks, but hey, we’ll take a win wherever we can get it, let’s see what we get today…
Tech stocks were the day’s shining stars once again. Leading the charge was NVDA, which continues to ride the AI hype cycle. Honestly, at this point, I don’t know what or who will slow down this stock in the near future.
And then there’s Apple, with the announcement of their shiny “new” iPhone, which is basically the same fucking phone with new colors for idiots to buy and waste their money on BS.
Do yourself a favour and stay with “last year’s” iPhone. Keep you money folks instead of buying depreciating useless toys.
The Inflation Drama aka “the buzzkill of the economy” was on deck again. Yesterday’s big news was the drop of inflation to 2.5% for the first time since 2021.
Disney, continues to have a bit of a rough year. The stock is down nearly 15% over the last 12 months, and there is very little to be optimistic about if you are a shareholder. Their latest box office releases haven’t exactly been smashing hits, and the company is scrambling to overhaul its streaming strategy. Rumor has it they’re considering a combined streaming service that includes Disney+, Hulu, and ESPN. I just want to ask Bon Iger 1 question though: how did that woke culture work out for the studio? 🤣
Amazon is pushing forward with its drone delivery service. Yes, that’s right—soon, you might have your next-day delivery order dropped off by a flying robot. Grandpa hates this idea btw, he fucking loves the small talk with delivery drivers… last mile delivery is the hardest part of this business and this idea might actually make it a lot easier.
Finally, let’s talk about the housing market. Yes, it’s still crazy. Home prices are up about 4.5% year-over-year. Mortgage rates are hovering near 7%, which is giving potential homebuyers nightmares.
Keep an eye on what the Fed does next. A rate hike cut is coming soon, if it’s a 25 cut it’s priced in, but a 50 cut would be a positive surprise, although highly unlikely.
That’s all. Go home.
Comments
Ace Rashid
Thank you for the update and details on #DIS
Ingo Schroeder
Thank you Tom good wrap. I am wondering when the next big dip/correction is going to occur and when the rubber band spike in small caps is going happen 🤓 maybe after fed cut, wait & see
David
Thanks Tom!
Jack M
Upgraded my membership, keep it coming!
Generico Fakero
🫡
Jack M
Appreciate the candid thumbnail synopsis, very helpful.
