Outlook for May 15, 2024

Market sentiment: RiskOff - Sideways Recap of the past week: As illustrated in the heatmap of last week’s key topics, the week was dominated by the escalating Ukraine-Russia conflict. This overshadowed what should have been the focus: Nvidia’s earnings and PMI data....

Market sentiment: RiskOn fading Recap of the past week: Last week, markets were still digesting the substantial gains from the prior "Trump trade" rally as they awaited the release of U.S. CPI. While the CPI data wasn’t outright negative, a wave of Fed member comments...

Market sentiment: RiskOn - 2 days Recap of the past week: The most pivotal week of the year, the U.S. elections, has concluded. As expected, Donald Trump's victory propelled markets aggressively to new all-time highs. The Fed contributed by lowering rates by the...

Market sentiment: RiskOn - 34 days Recap of the past week: The past week was marked by disappointment in ASML's earnings, which affected the entire chip sector. The sector recovered only after TSMC delivered outstanding results. Netflix and several financial sector...

Market sentiment: RiskOn - 13 days Recap of the past week: The past week had one central theme: the monetary easing in China. This move was truly unexpected. While we’ve mentioned several times that some action from the PBoC was on the horizon, we didn’t anticipate...

Market sentiment: RiskOn - 6 days Recap of the past week: The past week was dominated by anticipation for the first rate cut from the Federal Reserve. The Fed did not disappoint and performed a cut. However, the unexpected element was the cut being 50 bps, which came...