📈 All eyes on Fed

All eyes on the Fed at Jackson Hole, Kamala Harris adopts populist economic agenda, Goldman cuts US recession risk, US ports absorb import surge nearing pandemic-era frenzy, and Florida man spends his GameStop riches to build $132M JetBlue stake...

Author

Bull Street Talk
August 19, 2024

Good morning.

The Fast Five → All eyes on the Fed at Jackson Hole, Kamala Harris adopts populist economic agenda, Goldman cuts US recession risk, US ports absorb import surge nearing pandemic-era frenzy, and Florida man spends his GameStop riches to build $132M JetBlue stake…

Calendar: (all times ET)

  • Today: Durable-goods orders, 8:30A

  • Tomorrow: Consumer confidence, 10:00A

Your 5-minute briefing for Monday, August 19:

BEFORE THE OPEN

As of market close 8/16/2024. Bitcoin as of 8/18/2024.

PRE-MARKET

MARKETS

  • US stocks rose on strengthened expectations of a 'soft landing'

    • All three major indexes clinched their best week since October

    • S&P and Nasdaq rose for a seventh-straight day

    • S&P and Nasdaq posted their first winning week in five

  • Japan's Nikkei 225 rallied 3.6% to its best week since Covid

  • Gold surged to a new record high

EARNINGS

  • What we're watching this week:

    • Today: Palo Alto Networks

    • Tuesday: Lowe's

    • Wednesday: Target, Macy’s

    • Thursday: TD Bank Group, Cava

  • Full calendar here

NEWS BRIEFING

Fed Chair Powell expected to speak Friday morning at the Jackson Hole Symposium. Investors will be watching for hints on when the Fed plans to cut interest rates in 2024.

The busiest port complex in the US is churning through import volumes near the highs set during the pandemic despite worries about a cooling economy.

  • Kamala Harris adopts populist economic agenda in effort to beat Trump (link)

  • Goldman cuts US recession risk following retail sales, jobs data (link)

  • Oil falls 2% to end volatile week, focus on China demand concerns (link)

  • Oil edges lower as market weighs diverging US, China outlooks (link)

  • Florida man spends his GameStop riches to build $132M JetBlue stake (link)

  • Lykos to lay off 100 employees after MDMA drug setback (link)

  • Toyota bets big on hybrid-only models as EV demand slows (link)

  • CodeRabbit raises $16M to bring AI to code reviews (link)

  • X begins rolling out support for passkeys on Android (link)

  • Lockheed Martin to buy satellite maker Terran Orbital in $450M deal (link)

  • WeRide preps for an IPO, meet the man who built a startup pipeline at CNH and Waymo’s nightly honk-a-thon (link)

CRYPTO

  • Illicit crypto activity surpassed $2 billion in 2024, with stolen funds up 84% and ransomware up 2% (link)

  • A key Bitcoin bull signal flashed for the first time in nearly two years, hinting at a potential price surge (link)

  • BitGo CEO reiterated wBTC's independence from Justin Sun as MakerDAO voted to reduce its exposure (link)

You Can Sponsor this Newsletter details here.​

DAILY SHARES

Keep the curation going! Buy the team a coffee ☕️