Short Term Stock Trades
Options, Futures & Fx Trade Update
Long Term Stock Portfolio Update
This portfolio has had a strong year, with an annualized return on investment (ROI) of 21%.
We've already closed out two positions Entain and Vestas Wind Systems, one with a 50% gain and another with a 30% gain, both achieved in less than six months.
Markets Review
Stocks
US equities broadly closed lower, primarily driven by disappointing corporate earnings and renewed concerns about US-China tech policy.
US Indices: The major indices declined as investors digested a fresh batch of earnings reports.
The S&P 500 Index fell by approximately -0.53%, closing around 6,699.40.
The Dow Jones Industrial Average dropped about -0.71%, closing near 46,590.41.
The Nasdaq Composite saw the sharpest decline, down roughly -0.93%, to close around 22,740.40, weighed down by weakness in the technology sector.
Key Movers:
Shares of Tesla fell following an after-hours earnings report from the previous day that showed a significant decline in profit.
IBM also saw a sharp drop after its software revenue was only in line with expectations.
The technology sector was broadly under pressure due to reports that the White House may curb exports to China tied to US software.
Bonds
US Treasury yields generally saw a slight increase, though they remained near levels that had recently hit multi-month lows, suggesting a mixed sentiment that included some flight-to-safety flows earlier in the week.
US 10-Year Treasury Yield: The yield on the benchmark 10-year Treasury note was slightly higher on the day, moving to approximately 3.98% (a gain of about 2 basis points).
Commodities
Commodity markets were characterized by a sharp spike in crude oil prices, contrasting with declines in US natural gas.
Crude Oil (WTI & Brent): Oil prices surged significantly following the announcement of new US sanctions targeting major Russian oil companies.
WTI Crude Oil jumped nearly +5%, trading around $61.37 per barrel.
Brent Crude Oil also saw a substantial increase, trading around $65.88 per barrel (up over 5%).
US Natural Gas: US natural gas futures were under pressure and fell slightly, down about -0.51% to trade near $3.33 per MMBtu. This followed a larger-than-expected weekly storage injection reported by the EIA in the previous days, suggesting ample near-term supply.
Precious Metals: Gold held firm, trading above $4,000 an ounce, with COMEX Gold showing a modest gain of around +0.27%, trading near $4,136.80.
Foreign Exchange (FX)
The US Dollar saw minor strength against a basket of currencies, while the Japanese Yen showed weakness.
US Dollar Index (DXY): The Dollar Index posted a modest gain of about +0.10%, moving near 98.99, reflecting a "risk-off" sentiment in the equity market and possibly anticipating a stronger-than-expected inflation report due on Friday.
Currency Pairs:
The Euro/US Dollar (EUR/USD) rate was relatively range-bound.
The UK Pound Sterling/US Dollar (GBP/USD) also traded in a narrow range.
The Japanese Yen (JPY) was generally seen as weakening against the dollar and other major currencies.
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