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Oak Harvest: Weekend Update NVDA Lifts All 2/26/24

NVDA Lifts All

The S&P 500 drifted lower to begin last week before Nvidia’s blowout earnings report sent tech stocks surging and the overall markets back higher. The semiconductor company, whose chips are leading the AI arms race, reported material revenue and earnings upsides again and eclipsed $2 trillion in market value. NVDA’s…

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Oak Harvest: Weekend Update S&P 500: 5000 stall Continues 2/19/24

S&P 500: 5000 Stall Continues

U.S stock markets are closed today for the Presidents’ Day holiday. The S&P 500 fell -0.4% as gains in value sectors, banks and energy were offset by weakness in year-to-date leading sectors, technology, and communication services. No surprise to the OHFG investment team that last week’s economic data all came…

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Super Bull moves Swiftly to 5000

The S&P 500 rallied +1.4% last week to jump above 5000 for the first time ever closing at 5026 on Friday February 9th.  This was the S&P 500’s fifth straight weeks of gains making it 14 out of 15 weeks in a row.  This type of winning streak hasn’t happened…

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Oak Harvest: Weekend Update. MetaVerse: Don’t call IT a Comeback, 2/5/24

MetaVerse: Don’t call IT a Comeback

The S&P 500 rallied to new all-time highs last week gaining +1.4% boosted by technology stocks.  The index ended last week at 4958 for its 4th straight weekly gain.  Last Wednesday, the S&P 500 closed out January with a +1.6% increase for the month. That makes it three consecutive monthly…

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January – Strong Like Bull 1/29/24

January – Strong Like Bull

The S&P 500 rose last week as the first reading of Q4 economic growth came in stronger than expected and some financial earnings beat estimates. The index ended last week at 4891, a few points up from the prior week’s 4840.  The index is now up 2.5% for the month…

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AI = Artificial Intelligence or “All In”?

On the back of a positive quarterly announcement last Thursday from Taiwan Semiconductor about the strength in “AI-Artificial Intelligence” chip demand turning the rest of semiconductor demand up, tech stocks, and more specifically, names like NVDA and AMD exploded higher Thursday and Friday pushing the S&P 500 to a closing…

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Earnings Season: And they are Off 1/15/24

Earnings Season: And they are Off

The S&P 500 rebounded last week from its first week of 2024 selloff.  The S&P 500 index rose +1.8% last week, erasing its YTD decline and putting the this index into positive territory year to date. The index ended last week at 4784, a few points up from the year…

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New Year: Mortimer Sells

As the OHFG investment team expected, the major averages started 2024 with a losing week, snapping a nine-week winning streak.  The excuse de jor was the Federal Reserve walking back some early 2024 interest rate expectation cuts.  The S&P 500 fell -1.5% last week, with gains in “boring” health care…

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New Year, Same Worries

The S&P 500 rose marginally for the 9th week in a row. This is the longest winning streak since 2004. The S&P 500 was up +0.3% last week. Utility stocks were the best performing sector +1.2% while Energy was the worst-performing (-1.4%). The cash S&P 500 index ended Friday’s session…

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2023: The “Old Normal” Ends, as expected

Equity markets are closing out 2023 on a strong note, nearing all-time highs, as our investment team had forecasted early in 2023. The excuse for the last 2 months’ rally is a sharp decline in Treasury yields leading to the prospect of 2024 rate cuts by the Federal Reserve. Fears…

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Oak Harvest: Weekend Update Ho Ho Ho 12/18/2023

Ho Ho Ho

Equities rallied in the wake of the Federal Reserve’s policy announcement.  Treasury yields declined further last week.  In the Fed’s statement, Chair Powell’s press conference and the dot plot, the Fed is done raising rates, they’re not looking at a recession, the job market will remain firm through the forecast…

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Oak Harvest: Weekend Update `Into the Home Stretch 12/11/23

Into the Home Stretch

The S&P 500 rose for the 6th week in a row.  This is its longest rally since November 2019, as markets waited for this week’s Federal Reserve meeting and inflation reports. The cash S&P 500 index ended Friday’s session at 4,604, up from last week’s close of 4,594. The week’s…

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