😁 Stocks hit a new high

and making money online

Good morning investors! The market went to new highs yesterday as positive sentiment remains.

Today we cover:

  • A look at markets to date

  • Stocks hit a new high

  • Making money online

📊 Economy and News 

Asia’s best markets

Optimism in AI has propelled Taiwan's stock market to become the top performer in the Asia-Pacific region for the first half of 2024.

The Taiwan Weighted Index has surged 28% this year, driven by stocks in the AI value chain. This growth outpaces the U.S. market, where the S&P 500 has risen 15.44% year-to-date.

Key players include Taiwan Semiconductor Manufacturing Corp, which climbed 63%, and its competitor Foxconn (Hon Hai Precision Industry), which soared 105% in the same period.

Japan's Nikkei 225 ranks second in the region, having repeatedly set new all-time highs earlier this year. The Nikkei gained about 18% in the first six months, breaking a 34-year record in February by surpassing its previous high of 38,915.87 from December 29, 1989. It crossed the 40,000 mark and hit a new closing high of 40,888.43 on March 22.

Although Taiwan leads Asian markets, Japan is emerging as a favored market moving forward.

While most Asian markets have seen positive year-to-date performance, Thailand, Indonesia, and the Philippines have dipped into negative territory. Thailand’s SET Index dropped 8%, making it the region's worst performer. The Jakarta Composite fell 2.88%, and the Philippine Stock Exchange Index slipped about 0.6%.

Asian central banks are closely watching the Federal Reserve's next moves, as their monetary policies often align with those of the U.S. central bank.

Global hits:

Also check: Euro zone inflation eases to 2.5% as core print misses estimate.

📈 Stocks

S&P 500 5,475.09 (+0.27%)
DJIA 39,169.52 (+0.13%)
NASDAQ 17,879.30 (+0.83%)
BRENT CRUDE 87.25 (+0.75%)
* Prices as of Jul 2nd, 12:20 AM UTC

S&P 500, Nasdaq create new records

Stocks climbed on Monday, with the Nasdaq Composite hitting a record high, as Wall Street aimed to keep up the strong momentum from the first half of 2024.

Microsoft saw a 2.2% increase, while Apple surged by 2.9%. Nvidia, a leader in artificial intelligence, edged up by 0.6%. Overall, the tech sector gained 1.3% on the first trading day of July.

U.S. Treasury yields also rose, with the benchmark 10-year note climbing nearly 13 basis points to 4.471%, and the 2-year Treasury yield increasing by 4 basis points to 4.762%.

Cruise line stocks took a hit as Hurricane Beryl, a Category 4 storm, made landfall in the Caribbean. Carnival dropped -5.4%, and Royal Caribbean fell nearly -1.9%.

Also, Chewy shares fell nearly -7% as the boost from Roaring Kitty’s new stake diminishes

These movements are fueled by ongoing enthusiasm for AI, which has buoyed stocks like Nvidia.

This excitement contributed to the S&P 500's 14.5% gain in the first half of the year. The Nasdaq Composite saw an 18.1% rise, while the Dow Jones Industrial Average lagged, adding 3.8% due to a dip in the second quarter.

Investors remain wary of the market's narrow breadth, a factor that could impact movements in the second half of the year, according to Joseph Cusick, senior vice president and portfolio specialist at Calamos Investments. Cusick pointed out that just 10 stocks account for about 33% of the S&P 500's total weight, a level of concentration seen only three times in the past.

Interesting: Boeing to buy Spirit Aero for $4.7 billion in effort to tackle quality lapses.

🔐 Crypto

Bitcoin $62,575 (-0.40%)
Ethereum $3,445 (-0.21%)
Total market cap $2.31T (-0.31%)
* Prices as of Jul 2nd, 12:20 AM UTC

Collapsed bitcoin exchange Mt. Gox to pay back

In a few days, bankrupt Tokyo-based bitcoin exchange, Mt. Gox, will begin paying back thousands of users roughly $9 billion worth of tokens.

The payout comes more than 10 years after the platform went under following a series of heists that cost the exchange up to 950,000 bitcoin.

While this is good news for victims of the hack who have spent years waiting to be made whole, the price of bitcoin slid to $59,000 in the crypto market’s second-worst weekly decline of the year.

💵 Personal Finance

Make Money from Home – Part VII

Here’s today’s tip to make money from home. You can check previous issues here.

Invest Your Money and Enjoy Monthly Returns

If you are looking for an answer to how to make extra income while working full-time then consider investing your money. You will receive a fixed monthly return on your investment without any worries.

There are several options to choose from. You can put your money in a savings account, invest in a real estate fund, or buy bonds. Some options offer monthly returns and some offer yearly profits.

Remember that you may have to pay heavy taxes on the profit and that withdrawing money before the agreed upon period can result in penalties.

Banks offer variable interest rates that are pretty high these days going up to 6% in the US. If you want to benefit from high rates then we’d suggest you lock it now because rates are likely to go down later this year.

Those who want more can even look at international rates with some countries offering up to 10%. But be careful, only opt for countries with a secure banking system and strong currency.

On the other hand, real estate funds offer up to 15% yearly returns and brokerage houses can offer a profit of 20% but it’s a risky proposition.

We now also have the option to try Apple Savings Accounts and platforms like Binance where you can enjoy flexible interest rates between 6 and 12 percent.

For more ways to earn money, check this video and subscribe to our YT channel:

💰 Be a Better Investor

“A penny here and a dollar there, placed at interest, goes on accumulating, and in this way, the desired result is attained. It requires some training, perhaps, to accomplish this economy, but when once used to it, you will find there is more satisfaction in rational saving than in irrational spending.”

PT Barnum

What did you think of today's newsletter?

Login or Subscribe to participate in polls.

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.


or to participate.