Global Economic Update
- The S&P 500 is up 1.58% this week, hitting all time highs after 5 weeks of gains
- This is mainly a result of a revised December inflation report, showing inflation is lower than previously announced
- Microsoft, Meta, Amazon, and Nvidia are all up 20% so far in 2024, accounting for 70% of the S&P 500's returns YTD
- In foreign markets, Chinese markets are up after it removed it's chief financial regulator, signaling internal changes
News Regarding Omega Trades Stock Picks
Tech - The tech industry affects our stock pick securities such as SKYY (Cloud Computing ETF), and IBM (IBM). The tech sector performed great this week as a result of the revised inflation report which continued to ease concerns over rate hikes, showing they are just around the corner.
International economies - Our long-term investment picks include both American and Chinese economic ETFs. ETFs tied to the U.S. markets are up this week due to the situation discussed above, and Chinese markets are also up after the internal changes discussed above were made.
Our stock picks will be sent on Sunday.
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