Monday Market Update

Good Morning Everyone!

Remember, it’s the best time to buy great companies at a great price and leave them alone.

Prices as of 4 pm EST, 7/22/22; % YTD

MARKET UPDATE

>$9 trillion in market cap reporting this week

Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), Charter (NASDAQ: CHTR), Comcast (NASDAQ: CMCSA), Google (NASDAQ: GOOGL), Intel (NASDAQ: INTC), Mastercard (NYSE: MA), Meta (NASDAQ: META), Microsoft (NASDAQ: MSFT), ServiceNow (NYSE: NOW), Qualcomm (NASDAQ: QCOM), Shopify (NYSE: SHOP), Visa (NYSE: V), GM (NYSE: GM), G.E. (NYSE: GE), UPS (NYSE: UPS)

With all the bad news on the come (recession, rate hikes, margin hit, estimate cuts),

• S&P 500 is this a Bear-Market bounce?

Bank of America is this a Bear-Market bounce? (NYSE: BAC)

Netflix is this a Bear-Market bounce? (NASDAQ: NFLX)

Wednesday: Federal Reserve 5th Meeting of the year: 75 basis point hike expected

• 75 point hike would bring the target rate to 2.5%

• 2.5% is the peak of the last rate-hiking cycle in 2018-2019

• Federal Reserve rate cut expected March 2023

• Will June’s high 9.1% increase in consumer prices be the peak?

Crude   96      +1%

• Crude oil back to the level they were at when Russia launched its invasion of Ukraine on February 24, 2022

Biden says: Gasoline prices “still too high”

U.S. Housing

• With Mortgage rates rising sharply, mortgage refinancing activity has fallen to its lowest level since November 2000

• Average on the 30-year fixed rate mortgage rose to 5.54% vs. 1-year ago when rates were 2.8%

Apple (NASDAQ: AAPL)

• Leading contender to win 2023 NFL Sunday ticket rights

• $2.5 billion per season ($1 billion more than the last contract)

• Google, Amazon and Disney (ESPN+) also bidding for the rights

Airports

• According to FlightAware, Toronto Airport worst in the world for delays

• Over 53% of flights departing Toronto Pearson between June 1 – July 18 arrived late

Disney (NYSE: DIS)

• Disney+ adds R-rated content

• For the first time, Disney pushes further into adult-focused content in pursuit of new subscribers

• Added Deadpool, Deadpool 2 and Logan

Earnings today

• Infosys (NYSE: INFY)

• Newmont (NYSE: NEM)

CRYPTO UPDATE

Inflows are picking up

• A correction to Week 28 (2 weeks ago) flows puts total inflows for the week at $343M — the largest since November 2021

• Bitcoin (CRYPTO: BTC) inflows over last 2 weeks total $225M

• Ethereum (CRYPTO: ETH) inflows totaled $128M over the same period

• YTD flows

  • BTC +$241.3M

  • ETH -$315.8M

  • SOL +1$12.6m

• Total inflows for digital assets totaled $30M

MEME OF THE DAY

How’s WallStreetBets feeling to start the week?

data from Swaggy Stocks

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