Hello readers,
As elections take center stage around the globe, markets are experiencing unprecedented levels of volatility. From Indian stocks tumbling on signs of political uncertainty to the peso sliding in Mexico after a presidential victory, the impact is far-reaching. Even South Africa’s rand is feeling the effects of political shifts. The oil market is also in flux, with concerns about increased supply leading to a selloff. In the midst of this, Carnival announced changes, GameStop fluctuated, and Bath & Body Works faced a setback. Despite these developments, the overall stock market remained resilient, with the Nasdaq, S&P 500, and Dow all making gains. Meanwhile, Treasury yields continued their decline.
Additionally, the U.S. dollar is at its strongest since the 1980s, prompting questions about its sustainability. The Wall Street Journal reported on the currency’s unexpected resurgence and its potential implications for the global economy. Best Buy’s foray into AI innovation was also in focus, with its shares rising following a promising investor call.
As we navigate through these turbulent times, it’s crucial to stay informed about the latest market news and upcoming events. Keep an eye on Lululemon, Dollar Tree, Campbell Soup, and Five Below as they prepare to report earnings, and watch for the release of the S&P flash U.S. services PMI and the ISM services reports.
Stay tuned for more updates on these developments and their impact on the global economy.
Best regards,
Daniel Silva
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