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Market Headlines 👀 

• US 10y yield rises to its highest level following a strong jobs report this past Friday.

• US stocks bounced at a key 100d moving average for $SPY today ahead of PPI and CPI data releasing in the next couple days.

• Apple (AAPL) saw their global sales fall 5% last quarter as many felt Apple intelligence and the upgrade cycle has been underwhelming.

• Microsoft (MSFT) announces a new AI team internally which will be led by a former Meta executive.

• Tesla (TSLA) beats Audi in car sales for the first time ever becoming consumers first choice in Germany.

• Bitcoin (BTC) breached the $90k level briefly today which has held firmly over the past month+.

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

The strong Establishment Survey allowed headline payrolls to surprise significantly to the upside (256k vs. 165k), while the strong Household Survey drove the unemployment rate lower to 4.1% vs. 4.2% prior. This healthy labor report challenges the notion of a more pernicious weakening in data under the surface and suggests that U.S. economic strength persists for now. This drove the pricing of further Fed rate cuts to be reduced to just 1 cut in 2025. Pantheon Macro did not e an especially large seasonal adjustment in this report, while Healthcare, Government, and Leisure & Hospitality were the largest contributors to job gains.(Contributed by Cameron Dawson, CIO at NewEdge Wealth).

CPI street estimates for Wednesday below:

Market Preview 🎞️ 

• Tuesday, January 14th: Price producer index (PPI)

• Wednesday, January 15th: MBA mortgage applications; Consumer price index (CPI); Empire state manufacturing

• Wednesday earnings: Citigroup (C), Goldman Sachs (GS), BlackRock (BLK), and JP Morgan (JPM)

• Thursday, January 16th: Weekly jobless claims; Retail sales

• Thursday earnings: TSMC (TSM), United Health Group (UNH), Bank of America (BAC), and Morgan Stanley (MS) 

• Friday, January 17th: Monthly options expiration (OPEX); Housing starts; Building permits

Enjoy reading?👇

That’s all for today, folks! We’ll be back around the same time Thursday with a curated list of important news, economic data and market highlights. 

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