The Weekly View 13 05 2024

Welcome to the weekly view for the week beginning 13th May, 2024, our summary of macro and markets news.

This week in summary:

↗ Amazon’s share price hit an all time high on Thursday with the company’s market cap within touching distance of $2tn. Crossing this mark will put the e-commerce giant in an exclusive club alongside other members of the “Magnificent 7”.

↗ Once again, US CPI Inflation takes centre stage on the macro front this week. Consensus estimates show that the Consumer Price Index likely rose 3.4% over the year in April. The official figure will be reported on Wednesday.

↗ Inflation has stayed stubbornly higher than the Federal Reserve’s target of 2% despite high interest rates. The EU follows with their own inflation reading on Friday however, a June rate cut already looks like a done deal for the eurozone.

↗ Earnings season continues as we get a gauge on the health of the US consumer. This week's earning calls include Home Deport, Walmart and Flutter Entertainment.

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