The AP on the Street 8th Week of 2023

The AP on the Street

The AP on the Street 8th Week of 2023

The last week was harsh for investors, especially after the hotter-than-expected PCE report.

This week, there are the Chicago PMI, ISM Non-Manufacturing PMI, and Manufacturing PMI.

So, let’s take a look at what happened last week:
  • Meta started testing Twitter-like new paid “verified” system for $11.99 monthly.
  • Home Depot shares tumbled after a weak sales report.
  • Walmart shares plunged after an unsatisfactory outlook.
  • Services PMI came out to 50.5 points —3.3 points better than expected.
  • Natural Gas reached its lowest level since September 2020.
  • Credit Suisse shares reached their lowest level in history.
  • Germany’s CPI rose 8.7% yearly, as expected —60 basis points higher than the last number.
  • Nvidia shares surged after beating the earning expectations.
  • Euro Zone CPI rose 8.6% year on year, as expected. —60 basis points lower than the last number.
  • Euro Zone Core CPI rose 5.3% yearly —10 basis points higher than expected.
  • US Core PCE prices rose 4.7% yearly, killing disinflation hopes —40 basis points higher than expected, 10 basis points higher than the previous number.
  • Japan’s Core CPI rose 4.2% year on year, as expected.
  • Germany’s Q4 GDP decreased by 0.4% quarter on quarter —20 basis points worse than expected.

Overall Market Indexes & Commodities Moves (Weekly) (By taking the opening price on Monday and closing price on Friday, using MSN Money)

DOW = -2.5% 

S&P 500 = -2.3% 

NASDAQ = -3.2%

RUSSELL 2000 = -2.3%

Gold = -0.8%

Silver = -2.1%

Oil = 1.8%

The weekly performance of S&P 500 Stocks

Weekly performance of the S&P 500 stocks

Let’s look at the most undervalued stocks listed on our website:

Our two least-performing stocks:

The main reason(s) for the decline in BA: Boeing shares declined after the announcement of a halt in deliveries and a statement about stopping production of F/A-18 Super Hornet jets.

The main reason(s) for the decline in CMCSA: Comcast announced that they are going to ditch their BuzzFeed shares after the rally BuzzFeed had.

TIL: What is a derivative?

A derivative is a type of financial contract based on something else, such as an individual asset, a collection of assets, or a criterion. Two or more parties can trade a derivative on an exchange or privately (OTC).

Important data/ decisions that will be published next week:
The PCE Price Index and the Core PCE Price Index

We will see how the investors will behave after all of the data and decisions. Stay tuned.