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This Week’s Market Recap… 📊

The market slowed down this week after its massive 5% rise last week following the election of Donald Trump. The S&P 500 closed above 6,000 for the first time ever, and Bitcoin rallied all the way to $93,000.

This week was a little slower for the market and news in general following the last 2 weeks, which I believe were the most influential weeks of the year. The market this week was focused on two inflation reports, CPI on Wednesday and PPI on Thursday.

CPI came in as expected on Wednesday with the monthly number coming in at 0.2% and the yearly number at 2.6%. Core CPI, which takes out the “volatile food and energy,” came in at 0.3% month over month and 3.3% for year over year.

The market at first liked this number and treasury yields receded. The chance of a Fed rate cut in December moved up to 75% following the report. However, as the day continued, Treasury yields rose again and stock prices declined.

On Thursday we got the PPI report, which came in line with expectations as well. The month over month report showed prices rising at 0.2%, and the year over year came in at 2.4%.

On Thursday we also got a short press conference and then a Q&A session with Jerome Powell. He made headlines stating that their is no need for the Fed to rush rate cuts, explaining that the US economy was doing remarkably well and especially well when compared to foreign economies.

Top ETFs on our Radar… 📈

T-Rex 2X Long Bitcoin Daily Target ETF ($BTCL) was one of the top-performing ETFs this week gaining 28.87%.

Bitcoin continued to break out this week, and $BTCL was able to perform strongly due to its 2X leverage to Bitcoin. $BTCL is a great ETF to use when trading crypto with leverage.

Tune in every Monday and Friday for in-depth Market Analysis, Recaps, and a featured Stock & ETF.

Thanks for reading and have a great week!

-Ryan

@Theinvestingauthority