Good evening. The S&P 500 ended the week down -0.6%, hovering right below 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

• $UBER
Break above 62.25 🎯 64.69 & 67.10
• $MS
Break below 125 🎯 121.45 & 117.81
• $TSLA
Break above 440 🎯 463.54 & 480
• $ROKU
Break above 87.30 🎯 91.24 & 94.50
• $GM
Break above 54.18 🎯 55.93 & 57.66
• $DIS
Break below 112.89 🎯 110.25 & 109.12

KV’s S&P 500 Levels

Weekly Market Recap

Inflation Outlook

November CPI data brought mixed signals, with core inflation steady at 3.3% and headline CPI going up to 2.7% due to higher discretionary spending and hurricane effects. On the flip side, housing inflation posted its smallest rise in years, hinting at broader disinflation ahead. The data supports the Fed's planned December rate cut, but uncertainty in 2025 may slow future easing, with rates expected to settle around 3.5%-4%.

Global Rate Divergence

Global central banks, including Canada and Europe, accelerated rate cuts, with some reaching neutral policy levels faster than the U.S. The divergence is boosting the U.S. dollar, benefiting domestic inflation but weighing on international equities. While U.S. stocks remain favored, cautious rate adjustments globally highlight differing economic recoveries and inflation challenges, setting the stage for a complex market environment.

Moderate Growth

As interest rates head lower, central banks balance inflation with economic resilience. U.S. optimism is surging post-election, driving potential capital spending and manufacturing recovery. However, moderating rate cuts and rising expectations may temper market gains. Supported by strong jobs, wages, and innovation, balanced portfolios are positioned to deliver positive, though steadier, returns in the third year of this bull market.

Coming Up…

Important economic releases this week include PCE inflation and the FOMC meeting. On the earnings front, MU, NKE, CCL, and FDX are expected to report this week.

Key Headlines We’ve Been Reading

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

• Blackstone’s data center ambitions school a city on AI power strains.
• Trump’s antitrust trio heralds big-tech crackdown to continue.
• Europe’s big battery ambitions are failing, and China is benefiting.
• SpaceX valuation surges to $350 billion as company buys back stock.
• GM calls it quits on Mary Barra’s $50 billion robotaxi dream.

Trading Quote Of The Week

That was it for this week!

Stay safe,
KV 👋

Week #51 | December 15, 2024

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