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- šŗWOLF Financial Weekly - Issue #163: Your Gateway to Financial Freedom
šŗWOLF Financial Weekly - Issue #163: Your Gateway to Financial Freedom
Here's our Market Recap for Another Historical Week...
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šØTop Tweet of the Week!šØ
The Biggest Story of the Week: The Race for the First Bitcoin Strategic Reserve has officially begunā¦
BIG NEWS: The race between states and the federal government to create a Strategic Bitcoin Reserve is on!
Two states: Pennsylvania and Texas, have officially introduced SBR legislation. @Dennis_Porter_ reports that at least 10 other states are in the process of doing the same.
ā Bitcoin Voter Project (@BitcoinVoter)
7:48 PM ā¢ Dec 12, 2024
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This Weekās Market Recapā¦ š
This week has been marked by notable market volatility, with economic data dominating the spotlight. The week began on a sour note, disrupting some key momentum indicators.
On Wednesday, the CPI report met expectations. While I didnāt find it particularly strong, the market reacted positively, rallying to new all-time highs. The Nasdaq 100 had its best day over a month, climbing over 1.5%.
Thursday told a different story as the market pulled back following a hotter-than-expected PPI report, raising concerns about a potential resurgence of inflation. Major indices saw declines, with the Russell 2000 leading the losses, dropping 1.38%.
The day also featured a historic visit from President Trump to the NYSE, marking the first presidential appearance at the exchange since George Bush. Trump also became the first president to ring the opening bell since Reagan in the 1980s. On a personal note, Iāll be visiting the NYSE on Tuesday to witness the opening bellāan exciting experience!
Earnings activity has been relatively quiet this week, with Oracle and Costco taking the spotlight. Oracle reported weaker-than-expected results on Monday, causing its stock to slide more than 6% this week. Meanwhile, Costco exceeded earnings expectations, but its stock dipped slightly during after-hours trading.
As the week concludes, attention shifts to next weekās pivotal Federal Reserve meeting. The Fed faces a key decision: holding rates steady or implementing a 25-basis-point cut. A rate cut seems probable, but nothing is guaranteed in this market.
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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