A comprehensive review of global trade markets includes current reports, trends, indices, stock prices, bonds, foreign exchange, and commodities. The stock of Micro-Strategy plummeted following a report by Kerrisdale Capital hedge fund that sells the company’s shares short and buys Bitcoin. The report stated that the stock price increase was not justified as Micro-Strategy’s business model is based on buying and holding Bitcoin.
Luxury furniture chain RH’s shares surged after the company updated its forecast for increased demand in 2024. Meanwhile, Xiaomi’s shares soared after launching its first electric car at an aggressive price. The European stock markets closed with small gains, ending the first quarter with a 6.8% increase.
Magdalena Tao predicts a weak yen against the dollar, with potential interest rate hikes in Japan. Oppenheimer’s analyst expects the US stock market to continue its positive trend into 2024 and possibly peak in 2025. On the other hand, Bank of America estimates a 15% decline in the Euro Stoxx 600 and predicts a shift from cyclical to defensive stocks.
In other news, Amazon invested $2.75 billion in AI company Entropic, while gold prices continue to rise. The US economy grew by 3.4% in the last quarter of 2023. The stock market in Europe and Asia shows mixed trends, with the US futures trading slightly lower. Tesla’s stock continues to decline, and Netflix has been removed from the “Best Ideas List” by Wedbush. Bonds and oil prices are trading as well.
The commodity market is facing concerns over rising prices impacting traders and chocolate manufacturers as Bloomberg highlighted it.
FTX crypto exchange founder Sam Bankman-Fried was sentenced to 25 years in prison for fraud and conspiracy.
Lastly, Amazon invested $27 billion in AI company Entropic while gold prices continue to rise.
Overall, this review provides an overview of various aspects of global trade markets including current reports, trends indices stocks prices bonds foreign exchange commodities analyst recommendations
