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Market Overview Week 6 | Investment Competition | Week 13


Equity Market
As the market closed on February 8th, 2024, the S&P 500 index rose to 4,997.96, marking a 2.9% increase. The Dow Jones Industrial Average and the Nasdaq Composite Index also saw gains, rising by 0.13% and 0.24% respectively. In the recent earnings report weeks, Meta Platforms, Inc. (Nasdaq: Meta) emerged as a significant winner. The company’s stock price has surged by 112.57 USD in the past month to reach 470.00 USD, following an earnings per share (EPS) that exceeded estimates by 0.37 USD. The company has also started paying dividends. Another standout performer was Arm Holdings plc (Nasdaq: ARM), which saw a remarkable one-day increase of 47.89%, closing at 113.89 USD. This surge followed the company’s second earnings day since its IPO in September, where it beat the expected EPS by 0.04 USD. The Walt Disney Company (DIS) also had a strong performance on February 8th, 2024, with its stock price increasing by 11.39 USD. In the European market, Adyen N.V. (Amsterdam: ADYEN.AS) saw a significant 21.34% increase due to its strong sales growth and profits in H2 2023. In contrast, PayPal Holdings Inc (NASDAQ: PYPL) experienced an 11.24% decrease in one day due to disappointing guidance.

Bond Market
As of 13:27 on February 8th, 2024, the yield on the U.S. 10-year Treasury Bond stands at 4.135%. CNBC reports that despite Federal Reserve Governor Adriana Kugler acknowledging the alleviation of inflationary pressures, there remains ambiguity regarding the timing of the year’s inaugural interest rate reduction. Additionally, Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, has suggested that two or three rate cuts would be appropriate. This has sparked concern among investors, who fear that the actual number of rate cuts may fall short of expectations.

Crypto Market
The price of Bitcoin has surged beyond $44,000, marking its highest value since January 12, 2024, the day that Bitcoin ETFs commenced trading. CoinDesk attributes this surge to the bullish trend in the U.S. equity market. The iShares Bitcoin Trust (NASDAQ: IBIT) closed at $25.22 on February 7, 2024, which remains lower than its opening price of $27.94 on its first day of trading.

Commodities and Others
As of 14:21 on February 8, 2024, the price of gold stands at $2,025.61 per ounce, reflecting a daily decrease of $11.08. Concurrently, the price of silver, as of 14:22, is $22.3 per ounce, marking a daily increase of $0.12. The West Texas Intermediate (WTI) Crude oil price, as of 14:25, is $74.86 per barrel, indicating a daily increase of $1. Crude oil futures have risen for three consecutive days following the diminishing prospects of a truce in the Israel-Hamas conflict. According to CNBC, Israel’s Prime Minister Benjamin Netanyahu has rejected a ceasefire. Additionally, forecasts suggest a potential decrease in U.S. oil production and a decline in crude oil demand in response to a slowdown in China’s economy. Exxon Mobil Corporation (NYSE: XOM) has initiated a legal battle over climate change and corporate governance by filing a lawsuit against Arjuna Capital and Follow This, both of which have urged the company to set broader emissions targets. The exchange rate between the US dollar and the Euro currently stands at 0.93. Meanwhile, the Volatility Index (VIX), often referred to as the ‘fear gauge’ of the market, has seen a slight uptick. It is now at 13.05, marking a daily increase of 0.22.


Flow Traders Investment Competition

Negotium Novum is back in the top 3 after being last years' runner up in the Flow Traders Investment Competition! Will they be able to get their revenge and take the desired first place this year? For Plutus Investments last week was one to forget, by losing only 0.58% of return they have dropped to the 29th place, although they were off to a good start... Same could be said about Vico Investments, they lost almost 2 percent of their total return but worse, they dropped 19(!) spots. How will they recover from this?


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