Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew May 25 2023

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Saxo Morning Brew

Based on Bloomberg information, Nvidia is set for the largest ever jump in value for a stock ever. As of now, Nvidia shares are at 380 after a close at 305, implying a gain in value of USD 219 Bio. The second largest move was apple on November 10 2022 where the gain came to USD 190 Bio. This will likely be the market news of the day unless we see a move in the debt ceiling negotiations.

Both democrats as well as republicans were cautiously optimistic and the Fed Minutes show the FOMC Members agreed the need for more hikes was “Less certain”. Nevertheless, US interest rates rose. Cause was the debt ceiling on the one hand, hawkish fed speakers on the other and also the fact that Fitch put the US on a negative watch. T-Bills for early June rose to 7%.

Equities fell overall with the US 500 now 4133, the US 30 32740 and the US TECH 100 13787, the GER40 fell to 15850 further weighed by disappointing IFO data out of Germany.

Bank Shares are worth watching as HSBC is questioning it`s global presence and Citi cancelled the sale of it`s operations in Mexico

With rising rates, the USD gains strength across the board, EURUSD is trading at 1.0733, GBPUSD 1.2350 and USDJPY 139.50. Gold and Silver are trading at 1955 and 23.00.

Watch for any news around the debt ceiling as the likely market mover and keep an eye on tech after the stellar move in Nvidia.

 

Thursday 25 May

Germany GDP (Q1, final), United States GDP (Q1, 2nd est.), United States Initial Jobless Claims (May 20)

Pending Home Sales (Apr)

Friday 26 May

Japan Tokyo CPI (May), Australia Retail Sales (Apr, prelim), United Kingdom Retail Sales (Apr)

United States Personal Income and Consumption (Apr), Core PCE Price Index (Apr), UoM Sentiment (May, final),

Earnings; Costco, Dollar Tree, Best Buy, Gap, Meituan, NetEase

 

 

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)
Full disclaimer (https://www.home.saxo/legal/saxoselect-disclaimer/disclaimer)

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15
2900
Hellerup
Denmark

Contact Saxo

Select region

International
International

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.