Weekly Roundup: What We’re Watching as Markets Get Jiggy
We locked in massive gains on two positions and added to two beaten-down holdings.
While the market got off to a rocky start in June, it recovered from that minor setback over the ensuing weeks, only to see the month-to-date gains evaporate and then some this week. Questions over potential Fed rate hikes, despite continued declines in oil prices, renewed squabbles in the Strait of Hormuz, skepticism over AI chip demand, and OpenAI contemplating moving its IPO to 2027 were all factors.
To that, we can add Apple (AAPL) announcing price increases across several product lines as it contends with the rise in memory and other key components. Efforts to prepare for the reconstitution of FTSE Russel indices after Friday’s market close likely added to things as well.
Coming into the week, we said that we would be closely watching…