Weekly Wrap

Netflix stunned; Tesla shocked. Now it's Alphabet, Amazon, Apple, Meta, and Microsoft's turn to perform for investors as the US earnings season reaches its climax in the next five days.

Is it another sign of a weakening job market with a 65,000 drop in new jobs last month, or will these losses be offset as they were three times last year?

What was more significant in China's steel production data from the National Bureau of Statistics (NBS) on Wednesday: the annual increase in crude steel production after three years or the steep decline in monthly production in December to a six-year low?

In 2024, the market hasn't opened as enthusiastically as it finished 2023. Initially bullish and eager for the Federal Reserve's pivot towards potential interest rate cuts, the outlook has since become more restrained due to mixed data and pushback from Fed members.

The negative forces impacting the EV sector intensified last week, with Tesla unveiling another round of start-of-the-year price cuts in the fiercely competitive Chinese market.

This week, we'll witness key events, including US consumer spending and China's release of its 2023 GDP data. In Australia, market attention will focus on job data, while Princess Mary's ascent to Queen of Denmark holds more significance for Australians than the Davos talkfest.

A lot of publicity this month surrounds China's BYD topping Tesla in the global new energy vehicle stakes in the final quarter of 2023. However, what was not widely discussed is the intriguing success story of Elon Musk's company in the world's toughest car market.

In a major development for the cryptocurrency market, Bitcoin surged past $47,000, and Ethereum jumped over 10% in value after receiving regulatory approval from the United States Securities and Exchange Commission (SEC) to launch spot bitcoin exchange-traded funds (ETFs). This decision is expected to unlock billions of dollars in inflows into the world's largest digital currency.

Berkshire Hathaway's annual meeting is scheduled for May 4 in Omaha, Nebraska, and it promises to be a historic event due to the absence of Charlie Munger, the company's long-time vice chair and friend of Warren Buffett. This year, Buffett will take the stage alone.

Inflation eased in December, ending 2023 at 4.3%, according to the monthly indicator from the Australian Bureau of Statistics on Wednesday.

Despite two major earthquakes, typhoons, floods, and storms in New Zealand, the United States, and Europe, 2023 turned out to be a relatively 'good' year for the world's insurers, with losses and costs not too far from 2022.

Saudi Arabia and Russia's worst nightmares have just worsened: the US is now projected to become an even bigger producer and exporter of oil and gas over the next two years.

Sometimes, you wonder if bodies like the World Bank are in touch with reality. There it was on Tuesday, in its first report on prospects for global growth this year and next, moaning about weak levels of growth and lost opportunities over the past five years.

Australian unemployment rose to an 18-month high of 3.9%, according to the latest labor force report from the Australian Bureau of Statistics on Thursday. However, focusing solely on that figure, as some reports did, was highly misleading.

Another $US3 trillion day for Apple as the rate cut frenzy on Wall Street pushed the iPhone maker’s shares close to a record $200.

Slowly but surely, the pace of activity across the Australian economy is softening.

Last Monday, despite reaching all-time highs in Asian markets, gold prices finished the week down more than 3.3%, closing at approximately $2,004 an ounce for the Comex front month and $2,020 for the continuous contract close.

The electric vehicle (EV) industry, once riding high on optimism and sky-high valuations, has hit a roadblock as investors and car manufacturers reevaluate their strategies amidst a slowdown in growth. Factors ranging from rising interest rates to evolving EV technology and consumer preferences are being cited as reasons behind the shift in momentum.

A weak trade report for November, especially concerning imports, confirms the ongoing challenges in the country's economy almost a year after hopes of a post-Covid economic boost.

Increased government spending on energy and childcare rebates, investment, and defense spending kept the Australian economy afloat in the three months to September, even though economic growth slowed to less than walking pace, growing at just 0.2%.

Sigma Healthcare is expected to announce a major transaction today, which will result in a backdoor listing by the privately-owned pharmacy giant, Chemist Warehouse, on the Australian stock exchange.

Apple's market value surged past $3 trillion for the first time in four months on Tuesday as Apple shares gained 2% to reach $193.42. Despite reducing its shares through buybacks, the tech giant has seen its stock price rise by over 52% this year, showcasing its resilience.

Moody’s Investors Service has downgraded its outlook on China’s sovereign credit rating to negative.

One forecast that drew attention this week came from Moody’s, which issued a cautionary outlook for the health of the global banking sector in the upcoming year.