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Your Quiver | Friday, November 17, 2023

CIO | Nadine Terman @SolsteinCapital details what she's seeing in global financial markets.

Where’s The Party?

JPM captures the current sentiment I sense with: "S&P500 is 4607 (Just 2.5% from current levels) and the All-time high was right around 4800 (just 6% away). It’s also critical to note that the S&P500 is resting at +17% for the year… Way above the 9.5% annualized historic return, yet no one’s celebrating."

You Are Here, Tech

BTIG shares that MSFT closed at a record high yesterday. NVDA is 0.4% away from its all-time high from a few days ago. AAPL is only 4% from its high mid-summer in July. GOOG is 9% from its high in late 2021, with META 14% from high in Sep 2021. AMZN is 31% off, from the same summer. TSLA 76% off from Nov 2021, per Data Trek.

Can I Get it Delivered?


I’m curious. AMZN has a new strategic partnership with Hyundai to sell its cars online in the US in 2024. Will they bring it to my door? I’ve got Prime…

Don't Do it


Wall Street bosses supposedly are using AI to write performance reviews in order to streamline ops and cut costs. No crystal ball needed that someone is going to get a completely irrelevant, impersonalized review in Old English.

Taking Home the Prize

BA sourced 295 aircraft orders at the 2023 Dubai Airshow, >3x what Airbus sourced, per CNBC.

Painful Pause


No, not talking about planking. When BABA said it wouldn’t spin off its cloud unit next year, around $22bn came off its market value, per Reuters. Seems like a lot of folks were in the stock for that potential event which took a turn because of US restrictions.

Another Grinch


Yesterday you probably saw that Gap earnings outperformed, but they were yet another company to give a sad holiday sales forecast, per Reuters.

Forcibly Calm?

China forced its big banks to cap interest rates on interbank funding to calm markets, per Bloomberg. Lenders were asked to offer rates on 1-yr negotiable CDs at 2.57% or lower.

Export Evasion

AMAT is under a US criminal probe for potentially evading US export curbs to SMIC, per Reuters. Not good.

How Do You Like It?


Miami is getting a taste of the Bay Area. It’s annual inflation rate of 7.4% in Oct is >2x the natl ave. Soon you’ll have $18 hot dogs like us. The influx of people and businesses increases demand, and thus prices.

Bear Market

For oil, that is, after a 4th weekly loss. Non-OPEC production is keeping a lid on prices.