SUPERBOWL Mania.
Bitcoin Fever is back
HUGE week for economic reports
Altman looking for $
Winner for SAVE CTP announced
PLUS we are now on Spotify and Amazon Music/Podcasts!
Click HERE for Show Notes and Links
DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar.
Love the Show? Then how about a Donation?
Follow John C. Dvorak on Twitter
Follow Andrew Horowitz on Twitter
Warm Up
- SUPERBOWL Mania
- Bitcoin Fever is back
- HUGE week for economic reports
- Altman looking for $
- Winner for SAVE CTP
Market Update
- 3-Day Rule (Buy after plunge) - Made up Nonsense
- Get out your 5,000 Hats!
- Disney Earnings - Good Stuff
- ARM Blowout
- CPI Report Meltdown
S&P 500 Breaks 5,000!
- All time high
- The S&P 500 continues to hit fresh milestones with a first-ever break above the 5,000 level, its valuation is reaching new heights as well.
- PE - forward price-to-earnings ratio -- a commonly used metric to value stocks -- this week rose to 20.4 times, a level last reached in February 2022, according to LSEG Datastream.
- That puts it far above the index’s historic average of 15.7.
- Expectations are for 9.7% earnings growth for 2024
- "The good news is that valuations, while stretched ... are nowhere near the 28x peak at the Y2K Bubble Top," Emanuel said. ????
Follow Up----
- CPI came out HOT!
- YoY 3.1% for CPU and 3.9% for Core
- The food index was up 0.4% month-over-month and up 2.6% year-over-year.
- The energy index was down 0.9% month-over-month and down 4.6% year-over-year.
- The used cars and trucks index decreased 3.4% month-over-month and was down 3.5% year-over-year.
- The shelter index was up 0.6% month-over-month and up 6.0% year-over-year.
- The all items index less shelter was up 1.5% year-over-year.
----- Markets hit after reports - gained a bit back toward end of the session - but overbought and hot CPI don't mix
--- Small Caps down 4%, NAZ down 2% S&P down 1.4%
What Does it Mean?
- Fed funds futures push any cut until June
- 4 cuts are expectations for 2024 (down 7 at the start of the year)
Economics this week
Economics
NVDA
- Up, Up, UP
- Goldman Target = $800
- NVIDIA surpassed Amazon (AMZN) in market value for a brief period on Monday
More NVDA
- Company is building a new business unit focused on designing bespoke chips for cloud computing firms and others, including advanced artificial intelligence (AI) processors, nine sources familiar with its plans told Reuters.
- The dominant global designer and supplier of AI chips aims to capture a portion of an exploding market for custom AI chips and shield itself from the growing number of companies pursuing alternatives to its products.
Altman (ChatGPT)
- OpenAI CEO Sam Altman is seeking trillions of dollars in investments to overhaul the global semiconductor industry
- Altman has long talked of the supply and demand problem with AI chips
- He's considering a project that would increase global chip-building capacity,
- Altman could need to raise between $5 trillion and $7 trillion for the endeavor
- Reportedly in talks with different investors, including the government of the United Arab Emirates.
Waymo Cars Attacked
- On Saturday night, a crowd surrounded a white sport utility vehicle that was moving along a street in the city's Chinatown district (San Fran)
- A person jumped onto the hood of the Waymo vehicle and broke its windshield. Another person also jumped on the hood 30 seconds later as some in the crowd clapped in approval
- Fireworks thrown in car and set on fire.
- On previous occasions in San Francisco and Phoenix, Arizona, groups have disrupted the operations of self-driving vehicles, blocking their path, trying to enter the vehicles and jumping on their hoods
Amazon
- Bezos unloading shares
- $2 billion last week
- Plans to sell 50 million shares over the next year or so
Israel
- Downgraded by Moody's
Bitcoin Fever is back
HUGE week for economic reports
Altman looking for $
Winner for SAVE CTP announced
PLUS we are now on Spotify and Amazon Music/Podcasts!
Click HERE for Show Notes and Links
DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar.
Love the Show? Then how about a Donation?
Follow John C. Dvorak on Twitter
Follow Andrew Horowitz on Twitter
Warm Up
- SUPERBOWL Mania
- Bitcoin Fever is back
- HUGE week for economic reports
- Altman looking for $
- Winner for SAVE CTP
Market Update
- 3-Day Rule (Buy after plunge) - Made up Nonsense
- Get out your 5,000 Hats!
- Disney Earnings - Good Stuff
- ARM Blowout
- CPI Report Meltdown
S&P 500 Breaks 5,000!
- All time high
- The S&P 500 continues to hit fresh milestones with a first-ever break above the 5,000 level, its valuation is reaching new heights as well.
- PE - forward price-to-earnings ratio -- a commonly used metric to value stocks -- this week rose to 20.4 times, a level last reached in February 2022, according to LSEG Datastream.
- That puts it far above the index’s historic average of 15.7.
- Expectations are for 9.7% earnings growth for 2024
- "The good news is that valuations, while stretched ... are nowhere near the 28x peak at the Y2K Bubble Top," Emanuel said. ????
Follow Up----
- CPI came out HOT!
- YoY 3.1% for CPU and 3.9% for Core
- The food index was up 0.4% month-over-month and up 2.6% year-over-year.
- The energy index was down 0.9% month-over-month and down 4.6% year-over-year.
- The used cars and trucks index decreased 3.4% month-over-month and was down 3.5% year-over-year.
- The shelter index was up 0.6% month-over-month and up 6.0% year-over-year.
- The all items index less shelter was up 1.5% year-over-year.
----- Markets hit after reports - gained a bit back toward end of the session - but overbought and hot CPI don't mix
--- Small Caps down 4%, NAZ down 2% S&P down 1.4%
What Does it Mean?
- Fed funds futures push any cut until June
- 4 cuts are expectations for 2024 (down 7 at the start of the year)
Economics this week
Economics
NVDA
- Up, Up, UP
- Goldman Target = $800
- NVIDIA surpassed Amazon (AMZN) in market value for a brief period on Monday
More NVDA
- Company is building a new business unit focused on designing bespoke chips for cloud computing firms and others, including advanced artificial intelligence (AI) processors, nine sources familiar with its plans told Reuters.
- The dominant global designer and supplier of AI chips aims to capture a portion of an exploding market for custom AI chips and shield itself from the growing number of companies pursuing alternatives to its products.
Altman (ChatGPT)
- OpenAI CEO Sam Altman is seeking trillions of dollars in investments to overhaul the global semiconductor industry
- Altman has long talked of the supply and demand problem with AI chips
- He's considering a project that would increase global chip-building capacity,
- Altman could need to raise between $5 trillion and $7 trillion for the endeavor
- Reportedly in talks with different investors, including the government of the United Arab Emirates.
Waymo Cars Attacked
- On Saturday night, a crowd surrounded a white sport utility vehicle that was moving along a street in the city's Chinatown district (San Fran)
- A person jumped onto the hood of the Waymo vehicle and broke its windshield. Another person also jumped on the hood 30 seconds later as some in the crowd clapped in approval
- Fireworks thrown in car and set on fire.
- On previous occasions in San Francisco and Phoenix, Arizona, groups have disrupted the operations of self-driving vehicles, blocking their path, trying to enter the vehicles and jumping on their hoods
Amazon
- Bezos unloading shares
- $2 billion last week
- Plans to sell 50 million shares over the next year or so
Israel
- Downgraded by Moody's
Activity