top of page
Writer's pictureStéphan
Aug 283 min read

#USDCNH / NFP adjustment : -300k or -818k / Zuck & WH / All ears and eyes on #NVDA earnings ce soir



  • Heading into NVDA earnings after the bell tonight, it now accounts for a massive 6.5% of the S&P 500, a +/- $300bn move market cap is implied by vols, DJ made a slight new high again, SPX500 just under ATH's, markets sitting on highs on low volumes overall

  • Hedge funds continue to cut exposure to tech / GS - lowest in years. Hedge Funds deleveraging Tech, Large-Caps, Cyclicals going underweight Mag-7 in Q3 and Hedge Funds re-leveraging Small-Caps, Energy, Utilities, Health Care in Q3

  • OZ CPI slightly higher at 3.5%T (exp 3.4%)

  • Republican Donald Trump’s economic proposals would increase federal deficits by almost five times more over the next decade than those of Democratic nominee Vice President Kamala Harris, per two reports by the Penn Wharton Budget Model

  • The BOJ’s basic stance “is that it will examine the impact of market developments and the July rate hike,” Himino (Dep Gov)

  • The U.S Conference Board's consumer conf index improved to 103.3 in August and Durable Goods Orders for July were a very strong +9.9% the highest we’ve seen since May 2020

  • Meloni Seeks Budget cuts to fill Italy's €12 bn hole - Bloomberg *Coalition meeting on Friday will be first after summer break

  • Mark Zuckerberg says White House ‘pressured’ Meta to ‘censor’ Covid-19 content

  • Bank of America's Suttmeier "Hold on for $SPX 6,000+ by August 2025... 12 consecutive months of positive Y/Y returns point toward 6,150 by November 2025... (original April 2024 report)-Thread below

  • Goldman: Businesses avoided reporting unauthorized immigrants to the unemployment insurance system, pushing down reported employment in last week’s benchmark revision. A proper count would have lowered the March 2024 employment level by -300K instead of -818K, so need for so many FED cuts..

  • The JPM Collar (JHEQX ) remains a big SPX price draw in the short term/B.Balan


 


USDollar/CNH...well off highs 7.30 to 7.10....6.50 next up medium term ? here is the story! >>> one could add this in the 'consensus CNH shorts' that was built together with short JPY last few years (carry trade - in other words..)















31 views0 comments

Comments

bottom of page