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Amazon Makes Its Largest Outside Investment Ever

Amzn AI deal | Q3 final US GDP | SPX hits new record highs

Welcome Back,

Together with Carbon Finance:

Market Headlines 👀 

  • US final Q3 GDP comes in at 3.4% for the quarter.

  • US weekly jobless claims come in at 210k.

  • SPX S&P 500 continues to rally closing at a record high and having its best Q1 since 2019.

  • Amazon (AMZN) invests $2.75b more into AI startup Anthropic, making its Amazon’s largest outside investment ever.

  • FTX former CEO Bankman-Fried gets hit with a 25 year jail sentence.

  • Home Depot (HD) announces it will acquire SRS Distribution in a $18.25b deal.

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Earnings growth will likely drive the US market narrative now that the Fed appears to have ended the tightening cycle and is looking to lower rates come the summer. Much of the trailing 12 month advance in the S&P has been driven by price/earnings multiple expansion rather than upward revision in estimated earnings.(Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

Market Preview 🎞️

  • Friday, March 29th: Personal income and spending (PCE) data

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

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