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- 🐺WOLF Financial Weekly - Issue #160: Your Gateway to Financial Freedom
🐺WOLF Financial Weekly - Issue #160: Your Gateway to Financial Freedom
Here's our Market Recap for Another Historical Week...
Welcome to the WOLF Financial Newsletter.
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🚨Top Tweet of the Week!🚨
The biggest story of the week: Bitcoin officially hit $99,000 and it might have reached $100,000 by the time you’re reading this.
Bitcoin $BTC just hit $99,000 for the first time ever
— Evan (@StockMKTNewz)
7:16 PM • Nov 21, 2024
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This Week’s Market Recap… 📊
This week’s spotlight was on NVIDIA ($NVDA), which reported earnings on Wednesday after market close, exceeding expectations for both revenue and EPS. The company posted $35.1 billion in revenue, surpassing forecasts by $2 billion.
Initially, the market reacted negatively due to NVIDIA's forward guidance, which fell short of some investors' expectations for a significant raise. However, as trading progressed, sentiment shifted, and the stock closed the day up 0.53%.
Beyond NVIDIA, market-moving events were limited. Federal Reserve officials, including Fed President Bowman, shared insights, with Bowman advocating for a cautious approach to further rate cuts.
On Thursday morning, the jobless claims report emerged as the week’s most notable economic data point. Claims came in at 213,000, better than the expected 220,000, marking the lowest level since April. This positive data reduced the likelihood of a December rate cut.
As the Fed's December meeting approaches, all economic data will face heightened scrutiny. Based on current trends, I anticipate the Fed will refrain from cutting rates in December, though upcoming data could alter this outlook.
My Schedule This Week!
Have a Blessed Weekend!
Disclaimer: Wolf Financial does NOT offer financial advice. All content provided is strictly for informational purposes. Wolf Financial is not registered as an investment, legal, or tax advisor, nor as a broker/dealer. Please be aware that trading any stock or crypto-related asset carries inherent risks and may lead to substantial capital losses.
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