In mid-October, the US stock market was in a bear market with high inflation and rising interest rates. However, since then, the Nasdaq 100
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2023-06-12 | Sign Up | View Online | Advertise
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Market Snapshot 📷
S&P 500 4,298.86 +0.11%
Nasdaq 13,259.14 +0.16%
Dow 33,876.78 +0.13%
10-Year 3.743% +0.029%
Oil 70.38 -1.28%
Gold 1,975.70 -0.15%

*All data as of the previous day’s market close.

Markets & Economy
Is This a New Bull Market? (3 min read)

In mid-October, the US stock market was in a bear market with high inflation and rising interest rates. However, since then, the Nasdaq 100 has surged 37% and the S&P 500 has risen over 20%. While the technical definition of a bull market may have been reached, the market is still below its all-time highs. It is uncertain whether this is a new bull market or just a bear market rally. Although there is no way to know for sure, this article remains investors that the long-term trend is always up, but downturns are expected along the way, even in bull markets.
China’s producer prices plunge the most in seven years as deflation hangs over economy (2 min read)

China experienced low levels of inflation in May, indicating a struggling economy even after reopening. The producer price index fell by 4.6% annually, the sharpest drop in seven years, while the consumer price index only rose by 0.2%. China's low consumer inflation and deflation in producer prices contrast with higher inflation rates in major economies globally. The soft economic indicators suggest a cooling economy in China, driven by weaker overall demand. However, some market watchers remain optimistic about China's economic outlook.
Business & Stocks
Tesla jumps as GM deal takes Supercharger network closer to US standard (2 min read)

Tesla's stock rose by 6% as expectations grew that its EV charging system, the Tesla Supercharger network, would become an industry standard. General Motors joined Ford in agreeing to utilize the network, forming a rare partnership among major US automakers. This move puts pressure on other companies to upgrade their charging networks to work with Tesla's. The partnership is expected to benefit Tesla's charging business and potentially increase its market capitalization by over $30 billion.
Netflix US sign-ups rise by most in over 4 years after password sharing crackdown (2 min read)

Netflix stock rose over 3% after data showed a significant increase in US sign-ups following its password-sharing crackdown. The crackdown, which expanded to include the US and other countries, allows sharing an account with someone outside the household for an additional fee. Despite concerns, Wall Street analysts are optimistic, raising its price target to $535 and emphasizing long-term growth potential, including the ad-supported tier. Netflix shares have increased about 40% so far this year.
Funds & ETFs
No Banana Peel, No Recession, Strategist Says (2 min read)

Despite concerns over rising rates and inflation, the economy and stock market have not yet broken down. JPMorgan strategist believes a recession is unlikely and uses the metaphor of slipping on a banana peel to describe the conditions that could trigger it. Investors concerned about recession may consider long/short strategies like the First Trust Long/Short Equity ETF (FTLS) and the AGF US Market Neutral Anti-Beta Fund (BTAL). The key to a long/short strategy is to perform well enough on both sides of the market to keep loss moderate or post a profit.
Wildfire Smoke Sparks Interest in BlackRock’s ESG Fund (3 min read)

Smoke from Canadian wildfires caused a hazy atmosphere in New York City. Coincidentally, the iShares ESG Aware MSCI USA ETF (ESGU) received $174.5 million on the same day photos of the city covered in smoke circulated. While it's uncertain whether the poor air quality directly caused the investment flows, experts suggest it may have played a role. The incident has revived the debate on using investments to combat climate change. ESG funds have had a mixed performance, but investors remain interested.
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