🌍 DAILY NEWS HIGHLIGHTS! 🌍
Date: 26 June 2024
📌 Nvidia’s half-a-trillion dollar wipeout leaves global chip stocks volatile. Shares of chip firms in Europe and Asia fell in early trade as investors reacted to Nvidia losing more than $500 billion in market capitalization over three trading days.
📌 Rivian shares soar 30% after Volkswagen takes $1 billion stake. Volkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion. The additional $4 billion is expected to be invested following the establishment of a joint venture, according to joint releases by the automakers.
📌 Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim. Tesla issued two new recalls for the Cybertruck, one to fix windshield wipers with faulty motor controllers and the other to fix loose trim that can rattle or fall off.
📌 German Business Sentiment Weakens With Economic, Political Clouds Ahead. The Ifo Institute’s business-climate index fell to 88.6 in June, against economists’ expectations it would rise to 89.6.
📌 Tech Investor Sean Parker Leads Rescue of Struggling AI Startup. Stability AI raised $100 million-plus in 2022 but is now being recapitalized, as new leadership tries to build a business around its image-generation tool.
Sources: CNBC, Bloomberg, WSJ
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Date: 26 June 2024
📌 Nvidia’s half-a-trillion dollar wipeout leaves global chip stocks volatile. Shares of chip firms in Europe and Asia fell in early trade as investors reacted to Nvidia losing more than $500 billion in market capitalization over three trading days.
📌 Rivian shares soar 30% after Volkswagen takes $1 billion stake. Volkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion. The additional $4 billion is expected to be invested following the establishment of a joint venture, according to joint releases by the automakers.
📌 Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim. Tesla issued two new recalls for the Cybertruck, one to fix windshield wipers with faulty motor controllers and the other to fix loose trim that can rattle or fall off.
📌 German Business Sentiment Weakens With Economic, Political Clouds Ahead. The Ifo Institute’s business-climate index fell to 88.6 in June, against economists’ expectations it would rise to 89.6.
📌 Tech Investor Sean Parker Leads Rescue of Struggling AI Startup. Stability AI raised $100 million-plus in 2022 but is now being recapitalized, as new leadership tries to build a business around its image-generation tool.
Sources: CNBC, Bloomberg, WSJ
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🌍 DAILY NEWS HIGHLIGHTS! 🌍
Date: 27 June 2024
📌 Amazon reaches $2 trillion market cap for the first time. The company joins other tech heavyweights such as Nvidia, Apple, Amazon and Microsoft, all of which have crossed a $2 trillion market capitalization.
📌 Small Businesses Keep the Labor Market Rolling. Job openings at small businesses remain well above prepandemic levels, despite Fed rate increases.
📌 Grindr to Delve Into Dating as More Users Seek Long-Term Relationships. Grindr is planning to add several new features to its app. The additions include using AI to identify users with shared interests.
📌 U.S. Recovers Monet Painting, Paris Apartment from 1MDB Fugitive Jho Low. The recovery is the latest in a string of settlements to resolve allegations that Low was the mastermind of the multibillion-dollar 1MDB fraud.
📌 Harvard Finds Jewish and Muslim Students Were Harassed, Bullied and Discriminated Against. University task forces, created to help combat campus bias, released recommendations on what changes should be made.
Sources: CNBC, Bloomberg, WSJ
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Date: 27 June 2024
📌 Amazon reaches $2 trillion market cap for the first time. The company joins other tech heavyweights such as Nvidia, Apple, Amazon and Microsoft, all of which have crossed a $2 trillion market capitalization.
📌 Small Businesses Keep the Labor Market Rolling. Job openings at small businesses remain well above prepandemic levels, despite Fed rate increases.
📌 Grindr to Delve Into Dating as More Users Seek Long-Term Relationships. Grindr is planning to add several new features to its app. The additions include using AI to identify users with shared interests.
📌 U.S. Recovers Monet Painting, Paris Apartment from 1MDB Fugitive Jho Low. The recovery is the latest in a string of settlements to resolve allegations that Low was the mastermind of the multibillion-dollar 1MDB fraud.
📌 Harvard Finds Jewish and Muslim Students Were Harassed, Bullied and Discriminated Against. University task forces, created to help combat campus bias, released recommendations on what changes should be made.
Sources: CNBC, Bloomberg, WSJ
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[Blog Post: Head and Shoulders Pattern Trading Strategy Guide]
The head and shoulders and inverse head and shoulders are a type of common reversal pattern found at the end of major trends.
There are 3 main trading strategies for this pattern.
Read more 👉🏻 https://synapsetrading.com/?p=34688
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The head and shoulders and inverse head and shoulders are a type of common reversal pattern found at the end of major trends.
There are 3 main trading strategies for this pattern.
Read more 👉🏻 https://synapsetrading.com/?p=34688
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🌍 DAILY NEWS HIGHLIGHTS! 🌍
Date: 28 June 2024
📌 Chinese automakers are expected to continue rapidly expanding outside of China to achieve 33% of the global automotive market share by 2030, according to consulting firm AlixPartners. Much of the growth, up from a forecast 21% market share this year, is expected to be outside of China.
📌 SpaceX is building a NASA craft to intentionally destroy the International Space Station after retiring. The SpaceX-built vehicle will effectively destroy the ISS by pushing the station into reentry from orbit.
📌 H&M plunges 13% on doubts over full-year margin target, June sales outlook. The world’s second largest retailer also cast doubt over its June sales and full-year profit margin target.
📌 Crypto catches M&A frenzy as bitcoin miners chase AI boom. A number of transactions are designed to help bitcoin mining companies retrofit their sites for artificial intelligence workloads. With access to fiber lines and large amounts of power across the U.S., the mining facilities are in high demand.
📌 Turkey’s Central Bank Keeps Rates on Hold. The Turkish central bank left its benchmark rate at 50.00%, a decision widely expected by economists, as it expects inflation to fall in the coming months..
Sources: CNBC, Bloomberg, WSJ
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Date: 28 June 2024
📌 Chinese automakers are expected to continue rapidly expanding outside of China to achieve 33% of the global automotive market share by 2030, according to consulting firm AlixPartners. Much of the growth, up from a forecast 21% market share this year, is expected to be outside of China.
📌 SpaceX is building a NASA craft to intentionally destroy the International Space Station after retiring. The SpaceX-built vehicle will effectively destroy the ISS by pushing the station into reentry from orbit.
📌 H&M plunges 13% on doubts over full-year margin target, June sales outlook. The world’s second largest retailer also cast doubt over its June sales and full-year profit margin target.
📌 Crypto catches M&A frenzy as bitcoin miners chase AI boom. A number of transactions are designed to help bitcoin mining companies retrofit their sites for artificial intelligence workloads. With access to fiber lines and large amounts of power across the U.S., the mining facilities are in high demand.
📌 Turkey’s Central Bank Keeps Rates on Hold. The Turkish central bank left its benchmark rate at 50.00%, a decision widely expected by economists, as it expects inflation to fall in the coming months..
Sources: CNBC, Bloomberg, WSJ
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[Infographic: Triangle Pattern Trading Strategy Guide]
There are 3 different types of triangle patterns – the symmetrical triangle, the ascending triangle, and the descending triangle, each with different trading strategies.
Read full post 👉🏻 https://synapsetrading.com/?p=34698
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There are 3 different types of triangle patterns – the symmetrical triangle, the ascending triangle, and the descending triangle, each with different trading strategies.
Read full post 👉🏻 https://synapsetrading.com/?p=34698
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🌍 DAILY NEWS HIGHLIGHTS! 🌍
Date: 29 June 2024
📌 Slowing U.S. Inflation Fuels Expectations of Interest Rate Cuts. With the Fed’s preferred inflation gauge meeting market expectations, the possibility of interest rate cuts remains alive.
📌 Canada GDP Grew 0.3% in April, Likely Less So in May. Canada’s economy looks to have lost momentum again after a rebound in April, pointing to a soft backdrop that could help keep inflationary pressures in check and leave the door open to further rate cuts this year.
📌 AI Frenzy Propels Stocks to Monster First Half. The S&P 500 has climbed 15% despite reduced hopes for Federal Reserve interest-rate cuts.
📌 U.K. Growth Revised Slightly Upwards in First Quarter. U.K. GDP expanded 0.7% between January and March, offering a minor boon to the ruling Conservatives’ struggling campaign ahead of parliamentary elections next week.
📌 Rivian’s Long, Narrow Road to Profit. The electric truck maker’s stock has caught a break thanks to Volkswagen’s backing, but the arduous task of cutting costs has barely begun.
Sources: CNBC, Bloomberg, WSJ
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Date: 29 June 2024
📌 Slowing U.S. Inflation Fuels Expectations of Interest Rate Cuts. With the Fed’s preferred inflation gauge meeting market expectations, the possibility of interest rate cuts remains alive.
📌 Canada GDP Grew 0.3% in April, Likely Less So in May. Canada’s economy looks to have lost momentum again after a rebound in April, pointing to a soft backdrop that could help keep inflationary pressures in check and leave the door open to further rate cuts this year.
📌 AI Frenzy Propels Stocks to Monster First Half. The S&P 500 has climbed 15% despite reduced hopes for Federal Reserve interest-rate cuts.
📌 U.K. Growth Revised Slightly Upwards in First Quarter. U.K. GDP expanded 0.7% between January and March, offering a minor boon to the ruling Conservatives’ struggling campaign ahead of parliamentary elections next week.
📌 Rivian’s Long, Narrow Road to Profit. The electric truck maker’s stock has caught a break thanks to Volkswagen’s backing, but the arduous task of cutting costs has barely begun.
Sources: CNBC, Bloomberg, WSJ
Share 🍻 https://www.tg-me.com/synapsetrading
When trying to scale up, the most common mistake is to try to take more trades. The correct way should be to increase the position size while still sticking to only the best trades.
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Forwarded from Spencer Li
NASDAQ 100 ETF (QQQ) - Prices are a bit overbought, as seen from the RSI in extreme zone. Prices are also at the top of the price channel, so a pullback seems reasonable at this point. #bounce
If the current bar closes like it currently is, it will be a bearish pin bar which tested new ATHs and closed back down, which is a bearish sign. The prior 3 small white bars also show decreasing strength with each bar.
Hoping for a healthy 5-7% correction so that I can buy in.
If the current bar closes like it currently is, it will be a bearish pin bar which tested new ATHs and closed back down, which is a bearish sign. The prior 3 small white bars also show decreasing strength with each bar.
Hoping for a healthy 5-7% correction so that I can buy in.
Spencer Li (Synapse Trading)
Want to learn how to create a second source of income with 15 minutes a day? Join me in the next live trading workshop, where I share the trading skills & strategies I used to become a self-made millionaire in my 20s, which allowed me to travel to 70+ countries…
Just a reminder that this workshop is coming up pretty soon, last 2 slots up for grabs!
Date: 09 July 2024 (Tuesday)
Registration link: https://synapsetrading.com/?p=24088
Date: 09 July 2024 (Tuesday)
Registration link: https://synapsetrading.com/?p=24088
Forwarded from Spencer Li
If Trump 2.0 is expected to be inflationary, then it will be:
- Bullish for USD
- Bullish for yields, bearish for bonds
- Bearish/flat for stocks, crypto, gold/silver
- Bullish for USD
- Bullish for yields, bearish for bonds
- Bearish/flat for stocks, crypto, gold/silver
Forwarded from Spencer Li
According to the UBS Wealth Report 2024 published on Wednesday (Jul 10), Singapore’s Gini coefficient – a measure of inequality – rose 22.9 per cent since 2008 to hit 70 in 2023, surpassing levels in several markets in the region.
Forwarded from Spencer Li
Average wealth per adult in Singapore, as measured by the mean, rose by more than 116 per cent in local currency since 2008. In contrast, median wealth per adult fell 2 per cent over this period.
Forwarded from Spencer Li
From the author of "psychology of money": https://collabfund.com/blog/financial-advice-for-my-new-daughter/
Collab Fund
Financial Advice For My New Daughter
My wife and I welcomed a daughter into the world yesterday.