Edition #33- Monday, July 3rd 2023
Hi Oak Investors,
Welcome to another recap on the week’s action and events!
At Oak Investing, I look to provide value for all levels of investor, whether it’s pulling together the week’s best articles, insights and breaking news, or clarifying new concepts for beginners.
I hope you enjoy this week’s recap, please get in touch if there’s anything more you’d like to see in The Acorn. If you like what you see, please like, subscribe and share to keep growing the Oak Investor community! 🌳
Thanks,
Gordon
Summary 📝
AND WE ARE BACK!
Markets soared last week as Apple reached an incredible $3 trillion market cap, an all time high. This technology driven rally represents the biggest first half gain of the NASDAQ index since 1983.
The Fear and Greed index climbed further into the Extreme Greed category at 83/100.
The Volatility Index remained low at 13.7, indicating that markets expect less than average volatility over the next 30 days. Despite this, we are in exceptional times, markets will look to the next catalyst to figure out whether the recent rally can continue, or if uncertainty will remain.
With volatility so low, I expect the markets to be more likely to decline or tread water for a while, but anything below 15 on the VIX has historically been a good time to take some profits before something new spooks investors.
Quiz Question of the Week ❓❓
Answer at the bottom!
This Week in History 📰
Provided by The History Place
July 4, 1776 - The Declaration of Independence was approved by the Continental Congress.
July 5, 1810- Promoter and showman P.T. Barnum (1810-1891) was born in Bethel, Connecticut.
July 10, 1991 - Boris Yeltsin took the oath of office, becoming the first popularly elected president in Russia's thousand-year history.
Major Events This Week 🔬
Economic Events (EST)
Provided by Unusual Whales
Monday
9:45 am S&P flash U.S. manufacturing PMI
10:00 am ISM manufacturing
10:00 am Construction spending
Tuesday
Markets closed
Wednesday
8:15 am ADP employment
10:00 am Factory orders
2:00 pm Minutes of Fed’s June FOMC meeting
Thursday
8:30 am Initial jobless claims
8:30 am U.S. trade deficit
10:00 am Job openings
9:45 am S&P flash U.S. services PMI
10:00 am ISM services
Friday
8:30 am U.S. employment report
8:30 am U.S. unemployment rate
8:30 am U.S. hourly wages
8:30 am Hourly wages year over year
Incoming Earnings Reports
Provided by Earnings Whispers
Notable Upcoming Earnings
Provided by Unusual Whales
None
Post of the Week 💌
✅ The road to financial independence can be a long one, but by breaking it down into levels, motivation and progress feels so much more real. Maybe dividends and profits from your portfolio can only buy your lunch today, but in a few years or decades, they might just be paying for your entire lifestyle. 🔥😎
Let me know what you think 🤔
What’s Moving Markets? 🏃♂️
Provided by CNBC
Tesla reported 466,140 deliveries for the second quarter, and production of 479,700 vehicles
Tesla just posted its second-quarter vehicle production and deliveries report for 2023.
Deliveries are the closest approximation of sales disclosed by Elon Musk’s electric vehicle business.
The second quarter of 2023 marked the fifth period in a row when Tesla reported a higher level of vehicles produced compared to deliveries.
EU and Japan look to partner on A.I. and chips as China ‘de-risking’ strategy continues
The European Union is looking to co-operate more closely with Japan on key technologies such as artificial intelligence, the bloc’s industry chief Thierry Breton said.
EU Commissioner Thierry Breton is meeting with the Japanese government on Monday, and artificial intelligence will be “very high” on his agenda, he said in a video posted on Twitter on Sunday.
The EU is looking to “de-risk” from China, and part of that strategy involves deepening the relationship with allied countries around technology.
Israel targets West Bank militant stronghold with drones and hundreds of troops, killing 5 Palestinians
Israeli drones struck targets in a militant stronghold in the occupied West Bank early Monday and hundreds of troops were deployed in the area.
Troops remained inside the Jenin refugee camp Monday, pushing ahead with the largest operation in the area during more than a year of fighting.
It came at a time of growing domestic pressure for a tough response to a series of attacks on Israeli settlers – including a shooting attack last week that killed four people.
Chart of the Week 📈
Provided by Chart of the Day
Workers saw their buying power grow in May for the first time in two years, as inflation continues to fall from its pandemic-era peak.
“Real” hourly earnings increased by 0.2%, on average, this May versus May 2022, according to the U.S. Bureau of Labor Statistics. Real earnings represent an average worker’s annual wage growth after accounting for increased costs for household goods and services, as measured by the consumer price index, or CPI. May’s figure was the first positive annual reading since March 2021, according to BLS data.
Investor’s Toolkit ⚒️
Unusual Whales- Options Flow and Analysis 🛠
5% off with code OAK2022
SimplyWallSt- Stock Analysis 🛠
5% Discount with code OAK
Want to Work with Me? 📈
If you’d like to take your investing to the next level, there are 3 ways I can help:
Pick up a copy of The Investor’s Blueprint, and learn at your own pace 📚
Book a free discovery call with me, and discuss how you can take a step closer to financial freedom 🏆
Follow me on social media, for daily financial education and market insights. 👏
Follow for More 🎉
Quiz Question of the Week- Answer ❓
Answer- C 55%
Thanks for reading, have a great day!
Gordon
Disclosure ✅
This newsletter provides general information only. Before making any financial or investment decisions, please consult a financial planner to take into account your personal investment objectives, financial situation and individual needs.