Macro: Sandcastle economics
Invest wisely in Q3 2024: Discover SaxoStrats' insights on navigating a stable yet fragile global economy.
Last week the US ‘Mega Caps’ got back on the front foot which helped send the S&P500 and Nasdaq 100 to new all-time highs. Bucking the trend was Tesla which has sold off roughly 20% in recent weeks after losing the position as global EV market leader in terms of unit-sales to BYD. There was further optimism about the semiconductor and AI space after Taiwan’s TSMC, the main supplier of chips to Apple and Nvidia reporting better Q4 profits than expected indicating a positive trend for global chip demand.
Focus this week on central bank meetings in Japan, Europe and Canada, EU PMI’s as well as US earnings and Friday’s PCE inflation, the Fed’s favoured inflation indicator. It’s a busy week ahead for company earnings with highlights including: Netflix on Tuesday, SAP, ASML and Tesla all on Wednesday. LVMH, Intel, Visa due Thursday. Volvo and Christian Dior on Friday.
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