APEX's Weekly Market Wrap (29-02 Feb)

Here is a preview of the APEX Market Wrap, where the most relevant digital asset and stock market news is delivered to your inbox. You can expect updates and analysis across top asset classes, keeping up with rapidly changing economic conditions.

Stock Markets at a glance

Stocks are on an impressive winning streak for leading benchmarks. Despite the strength exhibited by US equities, other major players like China are experiencing significant sell-offs (refer to the chart of the week). Uncertainty and fears of escalation in the Middle East with renewed retaliation strikes is prominent, along with potential inflation flaring up. The US continued?to show hot data, particularly in the Non-Farm Payrolls (NFP), suggesting that?the anticipated rate cuts might still be on hold, urging investors?to remain attentive a little while longer.

In summary?US job growth surges in January?wage inflation heats up, Meta Platforms jumps to record high, US regional bank stocks steady after brutal sell-off. On?the 1D timeframe, indexes up: Dow 0.35%, S&P 1.07%, Nasdaq 1.74%

Cryptocurrencies at a glance

Digital assets remain range-bound, with Bitcoin maintaining its position comfortably above $40,000. Solana continually?shows encouraging signs of recovery, thawing from the extended crypto winter caused by numerous black swan events in 2022/2023. Risk assets continue to demonstrate resilience as an integral part of everyday portfolios, and the arrival of institutional products in the industry is capturing the attention of Wall Street advisers. The Blackrock ETF has achieved $2 billion in Assets Under Management (AUM), solidifying its position as a frontrunner in the nascent ETF race.

APEX's Chart of the Week

China's CSI 1000 index has experienced an 8% drop today, contributing to a staggering 30% decline in the initial month of 2024. In the past 10 days alone, China's CSI 1000 index has plummeted by an alarming 21%.

Moments ago, the Chinese government reiterated its commitment to market stabilization efforts, following numerous stimulus initiatives and the implementation of a short selling ban at select Chinese brokerages. The recent liquidation order against Evergrande, China's largest property developer, by a Hong Kong court last week adds to the growing concerns about the economic situation in China.

China's stock markets appear to be aligning with the downturn witnessed in their real estate sector. The Chinese high-yield real estate index has plummeted by more than 85% from its peak just two years ago.

APEX's Picture?of the Week

As we approached the 20th birthday of Facebook and Meta Platforms (META), following news was received?that Meta will distribute?its first ever dividend. Meta has previously?distributed substantial cash to its shareholders through share repurchases. However, in an unexpected move coinciding with its fourth-quarter earnings disclosure last week, the company revealed its decision to introduce a quarterly dividend. Shareholders recorded as of February 22 will receive a dividend of $0.50 per share on March 26.

The announcement of the dividend, coupled with the overall tone of the earnings report, propelled Meta's stock to new heights on Friday. The company's shares surged by 20.3%, reaching a historic peak of $474.87.

Sign up below to receive the full APEX Market Wrap direct to your inbox. The full wrap includes additional information about earnings, charts, deal flow, M&A and more insights across multiple asset classes.

Please reach out to Robert Revell if there are any questions regarding the information above or mailing list subscription queries.

Disclaimer:?Our content is intended as information only and not financial advice in any shape or form. Please do your own analysis before making any investment based on your personal circumstances. Please take independent financial advice from a professional in relation with, or independently validate and verify, any information that you find on this post and wish to rely upon, whether for the purpose of making an investment decision or otherwise.