In our weekend digest, we summarize the best pieces published from the working week. These can be read in full by clicking on the link over the name/ticker.
Phil ran through the performance from the portfolio last month, with the fund up 13%, outperforming various stock market benchmarks. The multi asset portfolio benefited from FX positions and also from some tactical stock picks along the way.
Ahead of the 0.75% hike from the Fed on Wednesday, we reviewed some of the main points to watch out for. These included the outlook for growth and inflation, as well as guidance towards the September meeting and hike size.
DAVE has traded 3.8 million shares this morning after only 1.5 hours. Yesterday, the trading volume was 10.8 million, five times more than the average of 2.19 million.
The company does not have any specific news, apart from a large advertising campaign that is ongoing. But the large interest in volume can tell a story. Someone knows something, or possibly large retail trader groups like WSB (WallStreetBets) may have taken a liking to it.
Other points to note about Tesla’s future outlook: The have sufficient cash to continue their operations. These include the Gigafactory in Berlin and Austen. They also expect to see innovations reduce their manufacturing costs and hardware and software related profits to accelerate.
August 4th is a date to note as Tesla have scheduled in a shareholders meeting which could provide more insight into the upcoming months.
In a new data piece, we provide the current rate run for the US Fed, following the latest meeting. This highlights the implied rate based on futures markets for what investors are currently pricing in for the base rate at each future meeting. The step reflects the number of basis points for each meeting.
To find individual disclaimers on specific stocks, please read the specific article.
To trade shares, register here with our preferred partner, EToro.