ProfZero

ProfZero

INVESTMENT CONTEXT JPMorgan CEO Jamie Dimon stated at a banking conference that investors should brace for a "hurricane right out there down the road and coming our way" At the same conference, Wells Fargo's CEO Charles Scharf added "the scenario of a soft landing is (...) extremely difficult to achieve in the environment (...) we're in today" U.S....

ProfZero

INVESTMENT CONTEXT President Joe Biden said America's goal is a "democratic, independent" Ukraine with the means to "defend itself against further aggression" In a move to counter EU's partial embargo on crude oil, Russia cut off more gas supplies to companies in Denmark, Germany and the Netherlands, stating they failed to make payments in RUB U.S....

ProfZero

INVESTMENT CONTEXT After choppy negotiations, the EU finally agreed on May 31 to ban oil and petroleum products from Russia, with a temporary exception for imports carried via pipeline Inflation reading in EU for the month of May scored 8.1% on a yearly basis, well above median analyst estimates of 7.8% and April 7.5% reading, underscoring inflation is...

ProfZero

INVESTMENT CONTEXT Russia's Minister of Foreign Affairs, Sergey Lavrov, said that "liberating" the Donbas region of Ukraine was still Russia's "unconditional" priority Germany's economy minister, Robert Habeck, warned the EU resolve on sanctions to Russia was starting to "crumble" Turkey President Recep Tayyip Erdogan is still expected to maintain his...

ProfZero

INVESTMENT CONTEXT According to the minutes of the latest Federal Open Market Committee meeting held in early May, policymakers remarked the need to keep raising the Fed's interest rate, noting that "a restrictive stance of policy may well become appropriate depending on the evolving economic outlook and the risks to the outlook" Russia heavily cut...

ProfZero

INVESTMENT CONTEXT Equities failed to sustain May 23 uptick, with bears firmly in control of the market sending Nasdaq in the low 11k bracket U.S. retailer Best Buy (BBY) missed EPS forecasts, but downplayed recession fears S&P Global’s Composite Purchasing Managers’ Index (PMI), a measure of the services and manufacturing industries, fell to 51.8 in...

ProfZero

INVESTMENT CONTEXT Equity markets took a breather on May 23, as operators reacted positively to U.S. President Biden commitment to review Trump-era tariffs imposed on China Accumulated gains are now being quickly given back, as futures on May 24 point to red territory for both S&P 500 and Nasdaq (dropping 1.21% and 1.88%, respectively). Snapchat (SNAP) in...

ProfZero

INVESTMENT CONTEXT Joe Biden said Finland and Sweden would enjoy the “full, total, complete backing of the U.S.” as they apply to join NATO Ukraine ruled out ever conceding territory to Russia as part of a ceasefire deal. Andrzej Duda, Poland's President, commented that only Ukraine's parliament should decide the nation's future U.S. stock market indexes...

ProfZero

INVESTMENT CONTEXT In a remarkably divergent trade, on May 19 BTC regained USD 30k threshold and many Layer-1 currencies (ADA, ETH, XRP) moved up at least 4% while the S&P 500 headed towards the 7th consecutive week in red U.S. President Joe Biden is touring Asia in an attempt to launch the Indo-Pacific Economic Framework (IPEF), countering criticism that...

ProfZero

INVESTMENT CONTEXT After a brief break, the rout in equity markets resumed at full speed, with S&P 500 and Nasdaq dropping 4.04% and 4.73%, respectively, marking the worst day in Wall Street since 2020 Turkey is set to veto the entry of Sweden and Finland into NATO, as it resents the countries for their stance on Kurdish groups considered "terrorists" ...

ProfZero

INVESTMENT CONTEXT Ukraine is doing "everything possible and impossible" to save the remaining troops still trapped in Azovstal steel mill in Mariupol. Russian authorities confirmed the surrender of 959 fighers, and the plans to interrogate the soldiers upon charges for "crimes committed by the Ukrainian regime against the civilian population" Finland and...

ProfZero

INVESTMENT CONTEXT The evacuation of Ukrainian troops from the Azovstal plant in port-city Mariupol suggests that Russia may be taking the final steps to seize control of the area McDonald's (MCD) and Renault (RNO) announced the full exit from Russia. MCD will sell its operations in the country for USD 1.2-1.4bn write-down, whilst RNO assets in Russia were...