All our thoughts are with the victims in Russia. A life is a life before being a nationality.
Three rate cuts in 2024. That's what Jay Powell hinted at, and now the markets are holding him to it. Of course, he didn't make any promises, and in true Jay Powell style, he emphasized that any decision will depend on the data. Nevertheless, despite the recent readings, three rate cuts remain a possibility.
That was all it took to propel the market to a new all-time high. Even though they couldn't maintain their peak levels on Friday, it was still an incredibly positive week for US equities. The S&P 500 gained 2.21%, while the Nasdaq closed nearly 3% higher at 18,340.
Credit Dall-e
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In other news
Reddit's IPO was this week, and the last thing we can say is that it was a resounding success. For its market debut, RDDT closed up 48%, and even though it lost 8.8% the next day to close the week at $46, this is a very positive sign for deals. After an almost two-year drought, this may very well open the door to the public market for companies waiting for better days.
However, Reddit's journey to profitability may not be smooth sailing. The company faces the challenge of balancing its unique, community-driven culture with the need to attract advertisers and generate revenue. As Reddit tidies up its platform to appease advertisers and Wall Street, it risks alienating some core users who value the site's unruly and unconventional nature.
We will closely monitor the first few quarters; it should be fascinating.
Thank you for staying with us until the end. As usual, we'll leave you with some of the best reads we've come across this week:
- a has written another fascinating piece. At a time when geopolitical tensions continue to mount, the question of what role the US will play in the global world order is perfectly on point.
- Can you believe it's already the end of Q1? If you need a complete roundup, has got you covered.
- At Sharpe Two, we continued exploring regimes, but this time, we tried to find out why some names would structurally perform better than others in specific regimes.
That's it for us this week. We wish you a wonderful week ahead. Happy trading!
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