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On May 16th, media outlets reported that SpaceX proposed one of the most radical corporate governance proposals in US history, ensuring Musk wouldnt be fired and offering a trillion-dollar compensation package related to establishing a colony on Mars. In response, Musk stated on social media: "Yes, I need to make sure SpaceX focuses on achieving humanitys transformation into a multiplanetary species and extending consciousness to the stars, not on catering to certain peoples quarterly bonuses. If SpaceX succeeds in achieving this incredibly difficult goal, its value will far exceed the entire global economy by orders of magnitude. This process shouldnt be expected to be smooth sailing."May 16 – The government of the Democratic Republic of Congo (DRC) issued a statement on May 15 saying that the death toll from a new Ebola outbreak in Ituri province in eastern Congo has risen to 80. The DRC Ministry of Health stated that as of that day, a total of 246 suspected cases and 80 deaths had been reported nationwide, with four deaths confirmed by Ebola virus testing. The statement said the DRC National Institute of Biomedical Research confirmed that the outbreak was caused by the Bundibugyo strain of Ebola virus. The first suspected case was a nurse who died in April after receiving treatment at a medical facility in Ituri province. The patient had symptoms including fever, bleeding, vomiting, and severe fatigue.On May 16th, Berkshire Hathaway released its first-quarter holdings report (13F). Berkshire increased its holdings in Alphabet (GOOGL.O), The New York Times, and other stocks in the first quarter. Alphabet saw an increase of over 36 million shares, raising its stake from 2.04% to 5.93%. It completely sold off its holdings in Amazon (AMZN.O), Visa (VN), Mastercard (MA.N), and UnitedHealth Group (UNH.N). It reduced its holdings in Chevron (CVX.N) and Bank of America (BAC.N). It established a position in Delta Air Lines (DAL.N), purchasing 39.8 million shares, with a market value of approximately $2.65 billion. Its holding in Apple (AAPL.O) remained unchanged, ending three consecutive quarters of reductions; Apple remains its largest holding. Overall, Berkshires holdings in US stocks were valued at $26.3 billion as of the first quarter, compared to $27.4 billion in the previous quarter. During the quarter, the company bought approximately $16 billion worth of stocks and sold approximately $24 billion worth, resulting in a net sale of approximately $8.15 billion. The number of stocks held plummeted from 42 to 29, indicating a significant increase in market concentration.On May 16th, Bridgewater Associates, the worlds largest hedge fund, released its Q1 2023 13F report on its US stock holdings as of the end of March. The report shows that Bridgewater established new positions in 214 stocks, increased its holdings in 292 stocks, liquidated 261 stocks, and reduced its holdings in 487 stocks during the first quarter. Bridgewater significantly increased its holdings in chip stocks such as Nvidia (NVDA.O), Broadcom (AVGO.O), and Micron Technology (MU.O) during the first quarter, while liquidating its holdings in enterprise software stocks such as Salesforce (CRM.N) and ServiceNow (NOW.N), and reducing its holdings in Adobe (ADBE.O). As of the end of Q1, Bridgewaters US stock holdings were valued at $22.4 billion, compared to $27.4 billion in the previous quarter. Specifically, Bridgewater increased its holdings in Nvidia by 827,800 shares, raising its stake from 2.63% at the end of last year to 3.65%; it increased its holdings in Broadcom by 670,000 shares, raising its stake from 1.47% to 2.54%; and it increased its holdings in Micron Technology by 586,000 shares, raising its stake from 0.93% to 2.23%. In addition, Bridgewater initiated its first position in TSMC with 1.077 million shares, which accounted for 1.62% of its portfolio as of the end of the first quarter.On May 16, US President Trump posted on social media that the US military and the Nigerian armed forces carried out a joint operation that evening to "eliminate" Abu Bilal Minuki, the number two leader of the extremist group "Islamic State".

S&P 500 Price Forecast – Stock Markets Continue to Suffer at The Hands of Fear

Jimmy Khan

Jan 20, 2023 11:59

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Technical Analysis of the S&P 500

During the trading session on Thursday, the S&P 500 E-mini contract somewhat retraced after puncturing the 50-Day EMA very early in the day. We have seen a lot of noise come and go from this market, so it is still unclear whether or not we will continue to move down, but it is definitely worth investigating. It's important to note that we had retreated from both a significant downtrend line and the 200-Day EMA. The sum of all of that suggests to me that although climbing higher will be challenging, it is not completely impossible. Wall Street, after all, has a special flair for snubbing the obvious.


The earnings season hasn't been great so far, and the Federal Reserve will continue to be tighter than most people think. Due to this, the commentators on financial networks will need to promote a fresh "story" to raise the market. The Federal Reserve will have to step in and save everyone because it very probably has to do with declining business profitability. They won't do so as long as inflation is as high as it is in the US, is the short answer to this. In all honesty, the Federal Reserve has no interest in repeating its actions from the 1970s.


Although I believe that ultimately we will search for the 3800 level, there could be a few brief upswings in the meantime. That turns out to be a great chance to start shorting again at the first hint of tiredness. However, I would anticipate that we would go straight towards 4200 if we break over the 4050 mark.


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