Weekly Market Report (21 Aug 23)

Subscribe for real-time alerts and weekly reports: 👉🏻 https://synapsetrading.com/daily-trading-signals

Note: New reports are published every Monday.

News Last Week

S&P 500 companies exceeded analysts' expectations, with 79% surpassing forecasts.
Companies outperforming saw a 0.5% share increase, lower than the 10-year average.
Apple and PayPal stocks declined despite reporting better-than-anticipated earnings.
S&P 500 declined 2.7% in August due to concerns about stock valuations and potential recessions.
China's property market downturn affected stocks in Hong Kong and mainland China.
Hang Seng Index and CSI 300 suffered declines due to Country Garden Holdings' missed bond payments. China's broader financial sectors showed signs of strain, raising concerns about China's trust industry.
Bitcoin value dropped to its lowest in two months after Fed raised concerns about inflation.
Mortgage rates rose to 7.09%, impacting the housing market significantly.

Major retailers including Lowe’s, Macy’s, Kohl’s, Nordstrom, Dollar Tree, Dick’s Sporting Goods, Urban Outfitters, and BJ’s Wholesale Club will release earnings reports.
Zoom Video Communications, Nvidia, and TD Bank to unveil their second-quarter results.
The annual Jackson Hole Economic Symposium hosted by the Kansas City Fed begins on Thursday, attracting central bankers, finance ministers, and economists globally. The market can be volatile during this event, especially during Jerome Powell's speech on the final day.