Member Info for JohnLewis79

There was no stopping Wall yesterday as equities powered ahead setting record after record. Mega cap stocks fuelled the advance on back of bullish forecasting on Ai which investors think will be the main driver of growth this year as inflation heads below 3%.

The S&P closed at a record helped by consumer sentiment which jumped to its highest level since July 2021.

However many investors are cautious of stocks trading at c.20x forward earnings as many fail to hold gains.

Stocks outside big tech enjoyed solid nos as investors looked down the league tables. Spirit ($7) beaten down of late rallied in pre mrkt trading saw increased activity after the carrier lifted Q4 nos, shares soared 44%. Big Mac ($301) hit a record high brushing off sales concerns and PayPal ($66) had its best ever run in 14 months easing over the ytd gain line.

Next weeks parade of Dec Q updates sees 75 of the top 500 report their numbers which inc Tesla, GE & Apple next week. Collectively they are expected to come in 4•4% higher confirming Main St is alive and well.

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Issues 2918

Advances 1964

Declines 855

U/c 99

T/vol(bn) 4•4

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DJ +395 (37,864)

SP +59 (4840)

NS +332 (17,314)

R2 +14 (1270)

WTI $74

10ytb 4•131%

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MSCI(W) +32 (3175)

Gold Bugs +1 (219)

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Close :- Vix 13. Brent 79.

Gold $2029. Copper $3•790.

Palm $1005. Silver $22•750.

Yen 148. Yuan 7•12

FF +20. DF -2.

Morning all.

Trade volumes and deals were similar this week to last the only diff sells outpaced buys on a ratio of 1•2:1 for the first time this year. Shares slipped 10p at 870-910. I have it on good authority their not making anymore msi shares so buy while you can.

MSi

Wk 3

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Up 2%

Ytd 890p

L/yr 600p

Up 290p

Up 48%

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T/vol 114,150

Buys 52,300

Sells 61,850

Buy % 46

Av nos 884

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Aim -3%

100 -4%

250 -4%

All -4%

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It was all about 'tech' today, big or small investors wanted in whatever the cost as the major averages reached new highs late on in the session, the Nsdq closed at a record high of 16,982.

Chips & mega caps led the advance following US listed Taiwan Semiconductor ($113) jumping 8% after projecting 20% growth this year due to booming demand for its high end chips used in Ai applications. The likes of Nvidia, AMD & Micron were all ahead as investors piled in on broker recommends. Not to be left out Apple, oversold of late gained $6 to ($189) as buyers returned.

It wasn't all up up and away, a warning from Humana about higher costs impacting its bottom line saw the stock slump 12% to $403 dragging down other health insurance rivals United Health & CVS Health. Several financial Cos reported weaker results, Discover Financial ($97) off 10% and Key Corp ($13) dropped 6%.

The wider mrkt was broadly steadier as t/bill yields slowed from earlier in the week after a report on workers applying for unemployment benefits fell. Homebuilders started more projects last month which boosted Beazer Homes ($32), good news for workers and the overall economy which has powered through the gloom-mongers predictions for a recession.

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Nyse data

Issues 2908

Advances 1572

Declines 1243

U/c 93

T/vol(bn) 4•0

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DJ +202 (37,469)

SP +42 (4781)

NS +246 (16,982)

R2 +11 (1256)

WTI $74

10ytb 4•159%

----------

MSCI(W) +23 (3143)

Gold Bugs -1 (217)

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Latest :- Vix 14. Brent $79.

Gold $2024. Copper $3•754.

Palm $970. Silver $24•830.

$1•270. €1•167.

FF +34. DF -15.

Morning all.

US retail sales rose the fastest in 3 months in Dec beating analysts expectations to grow by 0•6%. Car sales saw the strongest growth rising 1•1% while clothing, merchandise and e-commerce performed well. The nos suggest a solid performance by retailers in the run up to Christmas and equity analysts were wavering between a March or April rate cut of 25bp.

Despite this US equities sank 170 at the bell but were soon back on an upward path as buyers sought beaten down tech stocks dragged lower as t/bill yields rose over 4%. High growth stocks come under pressure when t/bill yields rise. Apple, Meta, Google and other 'techies' were all in the red at mid'day as the Dow lost its earlier gains. At the close the DJI ended down 94 well above its 230 drop for the day.

R2 small caps fell to their lowest in a month as the CBOE volatility index rose to a 2 month high of 15•40 aware of a 'bearish' stretch coming up in the middle of this month. The S&P fell 26 closing out its 10th winning week of 11 as several companies reported weaker profits (Bancorp & Big 5 Sporting Goods).

Spirit the low cost discount airline continued to sink for a 5 day fall of 62% after a Judge's ruling re: Jet Blue tanked the stock 86% to an all-time low ($5•92). Such has been the damage Spirit could seek a bankruptcy filing. An appeal is being considered.

Boeing in the dog house of late rose over $4 to $203 in early deals after Fed Aviation Officials said they had completed their inspection of the 737 MAX 9 jet. Boeing has asked Ryanair to send extra engineers to oversee quality checks at Seattle and Wichita factories after the "door incident" on an Alaskan jet.

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Nyse data

Issues 2920

Advances 711

Declines 2125

U/c 85

T/vol(bn) 3•93

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Latest :- Vix 15. Brent $78.

Gold $2011. Copper $3•740.

Palm $955. Silver $22•715.

$1•268. €1•164.

FF +6. DF +3.

Morning all.

Sell offs in Boeing, Apple and Morgan Stanley weighed on the S&P yesterday. M.Stanley ($84) fell 6% after posting lower Q4 profit nos and Apple ($183) dropped after offering rare discounts on its iPhones in China. Apple ($2•84tn) long the self anointed "worlds most valuable" company has lost its place to Microsoft's (2•90tn) valuation. Saudi Aramco a distant 3rd ($2•06tn).

Shares in Boeing slumped 8% to $202 a 2 month low after Fed Aviation Officials extended the grounding of Boeings 737 MAX 9 plane indefinitely. Boeing has lost a lot of credibility mostly on maintenance issues and appointing an advisor to the board without a background in aviation has angered senior management already under pressure to make changes among the top ranks at HQ.

Other stocks in the news saw bigest faller of the day Spirit Airlines tumble after a Fed Judge blocked their planned acquisition of Jet Blue Airways on competition grounds. Spirit a large discounter of airfares saw its shares crash 49% to $7•65 on the news. The merger would have created the 5th largest US carrier.

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Nyse data

Issues 2921

Advances 648

Declines 2207

U/c 66

T/vol(bn) 4•3

------------

DJ -232 (37,361)

SP -18 (4766)

NS -2 (16831)

R2 -13 (1257)

WTI $72

10ytb 4•056%

----------

MSCI(W) -19 (3146)

Gold Bugs -10 (224)

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Latest :- Vix 14. Brent $78.

Gold $2018. Copper $3•750.

Palm $950. Silver $22•845.

$1•262. €1•161.

FF -74. DF -121.

Morning all.

It's a sea of red nos across Asia and Pacifica this morning. In Hong Kong the Hang Seng index slipped again as the People's Bank of China kept its policy lending rates unchanged for the 5th month. In late pm trading the HS index was down 330 points and 1200 (7%) since Jan 2.

In Sydney Mining and Energy tanked the ASX200 closing 81 lower, while Tokyo snapped a 6 session long rally off 283 by the close (35,619). Investors were well aware Dow futures were calling US mrkts down 130 and the ftse off 26 today. Both below their Jan '24 open.

Reversing the trend of the last 4-6 weeks, sellers got the upper hand yesterday. The shares sailed past 900 closing at 920-960 despite sell volume outpacing buyers by a ratio of 4:1.

Sellers were easily absorbed as market makers bid up the price. A total of c.42 deals were struck which is the current average deal number to date.

US mrkts were closed yesterday for Martin Luther King Day. The campaign for a Federal holiday in King's

honour began soon after his assassination in 1968. Ronald Reagan signed the holiday into law in 1983.

Morning all.

MSi mrkt cap tops £150m for the first time since it first started trading as a plc in July 1988. Let's hope its not going to take another 36 years to break £300m.

Averting a US Govt shutdown has boosted sentiment in Asia this morning. Energy & Gold led the advance amid signs of an escalating conflict in the Red Sea region where Houthi rebels continue to harass shipping.

Around 10% of global shipments and 33% of the world's oil pass within missile range of the Iran backed rebels. Safe haven demand has boosted gold as investors worry the Israeli/Hamas conflict could escalate into a wider war in the region.

Gold's rally to $2056 came after US & UK warplanes, ships and subs launched dozens of air strikes across Yemen in retaliation against Houthi forces for months of attacks on cargo boats in the Red Sea.

Japan is significantly higher extending gains of the last 5 sessions taking the Nikkei up c.8% to above the 32,800 level and fresh 34 year highs. The 225 closing up 344 at 35,921. Elsewhere in Asia Hongkong is expected to bounce after falling nearly 1000 points in a 7 day plunge and Shanghai is flat in morning trade. Pacificas trend mixed to higher while Sydney closed off 2 (7498) after a bright start.

Latest:- Vix 13. Brent $78.

Gold $2056. Copper $3•764.

Palm $935. Silver $23•410.

WTI $73. 10ytb 3•944%.

$1•275. €1•163.

FF +13. DF +21.

Morning all.

DJ -118 (37,593)

SP +4 (4784)

NS +12 (16,833)

R2 -3 (1270)

WTI $73

10ytb 3•944%

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MSCI(W) +11 (3168)

Gold Bugs +7 (233)

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Close :- Vix 13. Brent $78.

Gold $2049. Copper $3•735.

Palm $935. Silver $23•360.

$1•275. €1•164.

Yen 145. Yuan 7•16.

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Nyse data

Issues 2912

Advances 1543

Declines 1262

U/c 106

T/vol(bn) 3•5

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Morning all.

A big jump in deal & volume nos today saw MSi shares end the week (890-920) c.40p to the good. Buys again outpaced sells by 2:1 on just short of 150 trades. Investors are betting following Rishi Sunak's visit to Ukraine we could receive more orders for our Terrahawk drone killer Paladin Air defense system.

A 3p interim dividend will be paid next Friday to those holders on the register as of 22/12/2023, up from 1•75p last year.

Wk 2

MSi (890-920)

52wk (446-930)

Ytd +(3•4%)

L/yr (635p)

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Trades 149

T/vols 135,000

Buys 90,300

Sells 44,700

Buys % 67

Av trd 906

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Aim 745 (-2•4%)

250 19,198 (-2•5%)

Ftse 7625 (-1•4%)

All/S 4141 (-2•1%)

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Evening all

Https:www.wired.com/story/anduril-roadrunner-drone

Britain is to provide Ukraine with c

£2•5bn of support in their ongoing war against Russia. We may get a few quid. Don't expect to be informed.

On Wall stocks stage a late recovery after turning lower over the course of the morning session. The Dow fell as much as 270 points before clawing back losses, to end the day up 15.

A point of interest Microsoft ($383) briefly overtook Apple ($186) as the world's most valuable company following a 4% fall in the iPhone share price. The 2 companies have jostled for top dog for many years. Latest valuations Apple $2•886tn, Microsoft $2•858tn. Saudi Aramco no 3.

Most of the S&P major sectors declined as Banks were sold ahead of Q4 updates expected from JPMC, Citi, BOA and Wells Fargo. On the economy the US Labour Dept reported consumer prices rose more than expected in Dec and the nos of people filing new claims for benefits surprisingly fell to 202,000.

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Nyse Data

Issues 2916

Advances 1174

Declines 1631

U/c 111

T/vol(bn) 3•8

------------

DJ +15 (37,711)

SP -3 (4780)

NS +28 (16,821)

R2 -9 (1273)

WTI $74

10ytb 3•983%

-----------

MSCI(W) -4 (3157)

Gold Bugs -2 (227)

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Latest :- Vix 12. Brent $79.

Gold $2036. Copper $3•798.

Palm $950. Silver $23•010.

$1•277..€1•163.

FF +34. DF -17.

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Morning all.

Could be as the US Navy use the Arleigh-Burke class destroyer's guided missile. Not something the company are likely to comment on methinks.

Nyse data

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Issues 2911

Advances 1600

Declines 1220

U/c 91

T/vol(bn) 4•4

------------

DJ +171 (37,696)

SP +27 (4783)

NS +114 (16,793)

R2 +5 (1281)

WTI $72

10ytb 4•025%

----------

MSCI(W) +15 (3161)

Gold Bugs u/c (229)

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Latest :- Vix 13. Brent $77.

Gold $2033. Copper $3•805.

Palm $920. Silver $23•185.

$1•277. €1•163.

FF +32. DF +100.

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Morning all.

A good day yesterday in sp terms buys (70%) cont to outpace sells by 2•3:1, sp hit an intra-day high of 890, closed at 860-900.

DJ -158 (37,525)

SP -7 (4765)

NS +28 (16,679)

R2 -15 (1277)

WTI $73

10ytb 4•021%

----------

MSCI(W) -7 (3147)

Gold Bugs -4 (229)

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Nyse data

Issues 2899

Advances 844

Declines 1963

U/c 92

T/vol(bn) 3•5

------------

Latest :- Vix 13. Brent $78.

Gold $2025. Copper $3•771.

Palm $900. Silver $23•040.

$1•270. €1•162.

FF -24. DF -57.

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Morning all.