The pending IPO of Elon Musk-controlled SpaceX (symbol SPCX) is grabbing all of the headlines at the moment, and for good reason – it is not only expected to be the largest IPO ever, but also the largest company (by market cap) to ever do an IPO. The proposed offering is also unique in other ways. For starters, the IPO marketing process is unconventional. For example, the offer price per share – normally provided as a range once investor meetings are well underway – has al

All four major central banks held their policy rates steady last week, but all of them also had a hawkish bias. Earnings continued to be supportive of higher stock prices, with five of the Mag 7 companies all beating on the top and bottom lines. Yields were higher as bonds got hammered, thanks to ongoing concerns regarding higher oil-induced inflation. There is no end in sight to the Iran-U.S. conflict.

Stocks and precious metals bounce around as more earnings come and go, the Fed holds rates steady as expected, and a new Fed chairman is nominated by Mr Trump.

The weekly update covers NVDA's excellent earnings; the A.I. shine which is wearing off; the minutes from the last FOMC meeting (Oct); and the fall of Bitcoin.

A.I. featured large again last week, mainly because it was the key talking point as five of the Mag 7 companies released earnings with mixed results. The FOMC decision also went as expected, although Mr Powell threw some caution into the wind. Global stock markets took it in stride, but the US Treasury market was less happy as yields rose across the curve. Gold was weaker again, and the US Dollar strengthened.

I am not expert in artificial intelligence, although I do have a basic grasp of its expected benefits balanced by the possible social implications. However, this article focuses on A.I. from an investor's perspective, since the stocks of companies that can attach themselves even loosely to the A.I. narrative have taken off like a rocket.

Markets are at last returning to some sense of normalcy, with the S&P 500 now clawing back all of its losses since the infamous...

Tech companies drove the 7% return of the S&P 500 in the 1Q23. Without the "magnificent seven", the index would have been flattish.

The five mega-tech FAMAG names start reporting their quarterly earnings ended Dec 30th, 2022, this week. I also included TSLA.