Good evening. The S&P 500 ended the week down -2.1%, after having a 5-day red streak here at all-time high levels. Here are the top stocks to watch this week and what’s moving the markets.

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Top Stocks & Setups To Watch This Week

• $META
Break above 564.50 🎯 577.16 & 588.54
• $MU
Break below 95.77 🎯 92.58 & 90.90
• $AAPL
Break above 229.83 🎯 233.47 & 237.49
• $UBER
Break above 74.31 🎯 76.40 & 78.82
• $HD
Break above 415.29 🎯 421.56 & 430
• $AMZN
Break below 199.50 🎯 194.31 & 190.51

KV’s S&P 500 Levels

Weekly Market Recap

Inflation Trends

U.S. inflation data showed some interesting results, with headline CPI rising to 2.6% and core inflation steady at 3.3%. While energy and food prices eased, housing costs stayed high. Although inflation has significantly decreased from its 2022 peak, progress towards the Fed's 2% target remains uneven. A gradual economic slowdown could help reduce persistent services inflation, stabilizing long-term trends.

Fed Easing

Fed Chair Powell emphasized the economy's resilience, noting solid growth and a strong labor market, which reduced the urgency for aggressive rate cuts. With the current fed funds rate at 4.75%, Powell signaled a cautious approach, likely aiming to lower rates to around 3.5%-4% in 2025. This gradual easing is viewed positively as it reflects lower inflation without an economic downturn, offering support for both consumers and businesses.

Bullish Market Outlook

As markets enter a typically strong period, recent gains may have been pulled forward, but the fundamentals still look solid. Economic growth remains above trend, and inflation is stabilizing. Policy uncertainties could trigger volatility, but absent major disruptions, the market should continue to rally, supported by resilient economic and earnings growth. Pullbacks may present opportunities, especially as pro-growth policies take hold.

Coming Up…

Important economic releases this week include the Conference Board's leading indicators and PMI data. On the earnings front, NVDA, SNOW, WMT, PANW, NIO, TGT, WKHS, LOW, BIDU, and PDD are expected to report this week.

Key Headlines We’ve Been Reading

This is what’s caught our eye over the past 7 days.

• Trump Cabinet and White House update: Kennedy made the list, see all the picks.
• Tesla fans go all in driving $300B rally on Trump win.
• What to know about Alexandre Arnault, possible LVMH successor.
• Sweden's Klarna moves towards long-awaited US IPO with confidential filing.
• Buffett’s Berkshire is being packaged into a leveraged ETF.

Trading Quote Of The Week

That was it for this week!

Stay safe,
KV 👋

Week #47 | November 18, 2024

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