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After Tuesday's red day on Wall Street, we have a Wednesday behind us that was again marked by significant, relatively significant growth. The Dak index strengthened by up to 1.3% while the S&P 500 by almost 1% and the Da also rose by 0.4%. The 2000, which fell by almost 4% on Tuesday, added 2.44% on Wednesday.
So the mood has improved again. Premarket hours also indicate a potential growth in the stock market, although of course, everything will be decided by the main trading day. As for the European markets, trading there today is also in the green at the beginning of the trading day. The Mag Zie Ke 225 strengthened by 1.21 % while the CPI fell by 0.25%.
The Chinese mainland indices, like the Hang Seng, grew today. So let's go, traditionally, first to Wall Street. The good mood on Wall Street was also contributed by the president of the Fed in Atlanta, Austin Goby, who with his speech tamed the pessimistic mood after the publication of the CPI inflation data.
eh which showed eh that inflation is slowing down less significantly than the markets imagined and it also changes the estimates of when the Fed will start cutting interest rates however Austin Gos would eh indicated that there is no need to worry about when the Fed will start cutting rates because he said that let's not get upset by one fluctuation, just look at the three-month or even 12-month interval and inflation is moving in the right direction he said this during a speech at the Council on Foreign Relations he said that the Fed's 2% target is not based on the media- known CPI index which was published this week but primarily on the PCE index I have told you this several times that although the consumer inflation is what the media pays the most attention to So what it follows the most is the PCE well and the last one when it was published showed that core inflation has already reached a level of around 2.9% eh and for the first time since March 21 it fell below 3% and there it is important to monitor its further development and Gos would say that when it gets somewhere to the level of 2.4% so the Fed can start cutting rates on this chart that I'm showing you here I'll try to zoom in a little bit more eh you can actually see the core pce inflation shown in blue and above that is the core cpi or consumer core inflation Well and eh the pce is more important so far it has had a more significant downward trend in recent months than eh the core cpi And if it continues like this so the Fed will still have an open path to start cutting those rates this year that gossby seems to be at the same time eh a Fed representative who is from the category of those who would like to see the rate cuts slowly he is not one of those eh let's say that So let's move on You probably heard about the fact that the shares of the company Lift rose by more than 60% after the publication of quarterly results but also contributed to it eh whether funny curious or Find another adjective therefore a mistake from the company's financial director Erin, who is it, actually, and now I'm not sure if it was her, but the company Lift announced that it was going to increase its margins by 500 basis points in 2024, which is 5%, and the markets reacted so optimistically that the shares of Lift soared, but then Erin Brova pointed out that they were wrong, and it wasn't 500 basis points, but 50 basis points, which is 0.2%.
And then the company's CEO, David Richer, confirmed it, saying that it was his fault, that they simply put the zero or the dot in the number incorrectly, but he still said that Lift's quarterly results were one of the best since the company went public. So, really, the margin won't be 5%, but only 0.2%, or so the expectations are, and then after that 60% drop, there was a significant drop in the shares, but they were still up about 30%.
up since the publication of quarterly results or such strange turbulence in stocks lift published quarterly results and Uber its shares strengthened by almost 15% after the announcement of a share buyback worth 7 billion US dollars NVIDIA is in a league of its own and is already the third largest company in the world In terms of market capitalization, the incredible rally of nvidia 50% since the beginning of the year overtook Amazon this week and the latest also alphabet or Google really if someone had told me six months ago that nvidia would be more valuable than amazon and also google I probably wouldn't have believed it big went around ai semiconductors about this company simply nvidia is driving it higher and higher it's hard to say eh if it's sustainable Anyway, investors are already looking for some alternatives on the market or something that could imitate nvidia in the future at least partially and eh kind of in quotes new nvidia are the current shares of super microcom compter it's a company that is not even in the s&p 500 index but it is currently the largest company in The Russell 2000 index is the one that actually tracks the performance of smaller publicly traded companies in the US.
Well, this super Micro computer has made over 200% since January and has strategic partnerships with companies like NVIDIA and Intel and is therefore also growing significantly now because it is as if investors now have a bet that this is the new NVIDIA or some such new pike on the market that could at least partially imitate the performance of Nvidia.
I won't tell you more about the company. But it is perhaps a tip for you that you could do some research and maybe delve into it more until you have a more complete opinion. In the picture here you can see Michael Barry, a man who became famous for correctly estimating what was going to happen. Around 2007 to 2009, he made a big bet on the collapse of the mortgage market in the US, which eventually paid off.
It was also filmed in the movie Big Short, where Christian Bale played him. And from that moment on, So what he does in terms of investing is closely watched. He's the kind of person who always asks for attention once a quarter and people look at how his investment fund is doing. Well, the latest report, according to the report that his Scion Assets Management filed with the SEC, is valid as of the end of December.
It's always published some time after the end of the quarter. So he's increasing his positions and is therefore long more significantly than before. He strengthened his equity holdings in the case of 13, or from 13 positions to 25 positions, so he added 12 new instruments and the portfolio or the value of the invested portfolio more than doubled to 55 million US dollars.
He made purchases of stocks like Amazon, Google, Oracle, CVS, HCA Healthcare and City Group. Each investment represented around 5 million US dollars. In addition, he increased his stakes in Chinese companies Alibaba and JD.com. Together, they are worth around 12 million US dollars. From what he was concluding, he placed bets on a decline in producers.
semiconductors, this did not work out for him, he significantly reduced his positions in Booking and Nexter Media Group and also completely sold his 10 million share in the European car manufacturer Stella Antis and a four million share in the Belgian shipping company Euron. What is especially interesting is that he went after technology stocks, while last year he actually expected a kind of bursting of the technology bubble, which indicates that he has changed his view on this matter.
So much for Michael BMU's current portfolio, you can find it here in the article on the ft news.sk website as always, and let's see what Bank of America says. It conducted the latest survey of asset managers worth more than 500 billion ar, that is, managers of various eh funds, and eh this latest survey shows a marked change in the behavior of these investors or managers of these large funds who are sitting on huge money for the first time since April 2022.
eh Bank of America claims that among these investors, large investors, any fears of an impending recession have subsided, eh they have reduced their cash holdings from 4.8% per to 4.2% and significantly increased their allocation in the stock market They reached a two-year peak I quote Bank of America investors are betting on a strong Macro environment in the soft landing scenario 65% of respondents already believe in a recession scenario recently only 11% of respondents are counting on it while an increased majority eh leans towards the no landing scenario which is characterized by higher inflation and faster economic growth eh new historical maxima are reached by the S&P 500 US stock markets and investors' attention is focused mainly on popular technology stocks eh the exposure eh of these large investors is the highest in technology titles since 2020 again investments are dominated mainly in the big magnificent seven, that is Alphabet Tesla Amazon Microsoft NVIDIA Meta and Apple Well and what is interesting eh so these fund managers eh the second most popular thing they do after investing in those technology stocks is betting on a decline in Chinese stocks eh What is quite interesting is that Bank of America also concluded the report with an update of its Bull and Be Index indicator, it's basically something like the fend grid index from CNN, for example, and this index of theirs shows a fairly high level of overheated sentiment, 6.8 points out of 10, but it's still not at that stage of some extreme bullish sentiment, so it can go higher since the last update, so there was an increase from 6.1 to 6.8 points, and Japan is no longer the third largest economy in the world, Germany came in third place, and this is because Japan's GDP is declining.
It was expected that compared to Q4 2022, Q4 2023 would grow by approximately 1.1%, but in the end we saw a decrease of 0.4%, the Japanese economy has entered a technical state of recession, although analysts are cautious about declaring that Japan is clearly in recession. Anyway, based on these updated data, Japan is already in fourth place.
When it comes to the ranking of world economies, third is Germany Well and a very significant growth trend has and India which according to some analysts for example It is written in this tweet could eh at this robust pace of 6.3% eh here catch up with Japan by 2025 as well as eh possibly also eh Germany and reach eh so the third position of the world's largest economy eh so this is eh quite eh interesting GDP eh Japanese eh so so in shows some eh technical eh not correction but recession eh unemployment in Japan However it fell to an 11 month low of 2.4% which looks positive and business conditions are according to the Ken Bank survey the best since 2018 which as if it mitigates the impacts of this survey a little but private consumption in the last quarter fell by 0.2% which is contrary to estimates a worse number and Headline inflation has been above the Bank of England's idea for 15 months which wants to have inflation at the level of 2% so much at the end of today's section markets today I guess you learned something new again If yes, thanks for liking, thanks for subscribing, see you tomorrow, have a nice day
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