📊 Copiers Weekly Portfolio Update 🚀 (Week 42: Oct 16th – Oct 22sd)

The past week posed challenges for the markets as stocks concluded their worst performance in a month. The Dow Jones and S&P 500 faced consecutive daily losses, driven by surging Treasury yields. Hotter-than-expected retail sales data and mixed comments from Federal Reserve speakers, especially Chair Jerome Powell, contributed to the somber atmosphere on Wall Street.

💡Week Highlights:

Rite Aid Declares Bankruptcy: Pharmacy chain Rite Aid filed for Chapter 11 bankruptcy, succumbing to a debt load exceeding $3 billion and opioid-related liabilities. The bankruptcy coincides with weakening consumer confidence.

Surge in Treasury Yields: Stronger-than-expected September retail sales triggered a sharp sell-off in U.S. Treasuries. Long-end yields reached 5% for the first time in 16 years, signaling challenging times ahead for stocks and bonds.

$TSLA ‘s Cybertruck Woes: Despite Tesla’s Q3 results slightly below estimates, concerns about Cybertruck mass production challenges led to a 4.2% drop. This had a negative impact on Chinese EV stocks and related firms.

Netflix Subscriber Surge: Netflix shone bright, posting Q3 profits that exceeded expectations and a significant increase in subscribers. With 8.76 million new global paid subscribers, the company surpassed estimates, reaching 247.15 million members.

SolarEdge Technologies Outlook Slashed: SolarEdge Technologies plummeted 21.2% after-hours on Thursday, slashing its projections due to substantial cancellations and unexpected delays in the European backlog. The impact will extend to Q3 results and significantly lower revenue in Q4.

📈 Weekly Market Movement:

U.S. Indices: Dow -1.6%, S&P 500 -2.4%, Nasdaq -3.2%
S&P 500 Sectors: Notable disparities, with Consumer Discretionary and Real Estate leading losses.
Global Indices: Most international markets experiencing declines, with Hong Kong and China standing out.

📊Top Portfolio Performers of the Week:

Netflix ($NFLX): +12.73%
Petrobras ($PBR): +4.99%
Lululemon ($LULU): +4.80%
Santiago1000’s Performance: -4.19%

📆 Next Week’s Outlook:

Anticipating a busy week of earnings reports with giants like $AMZN Microsoft, Meta Platforms, Coca-Cola, and Chevron. The European Central Bank’s interest rate decision on October 26 and the Federal Reserve’s ongoing stance on inflation and interest rates will also be focal points.

Stay tuned for updates and keep an eye out for potential opportunities!

Until next time,

Santiago