What happened this weeK

Last week closed higher for all major indices but already this morning Dow futures are falling in anticipation of further Fed tightening. The Fed will meet again next week to conclude their policy meetings. Last week during a speech by Jerome Powell, he indicated that markets could expect a further rates hike of 0.5% rather than the recent jumps of 0.75%. Whilst this is step down in, Powell also said that rates “will need to be somewhat higher” than indicated at the September meeting, indicating that fed funds rates could reach in excess of 5% much higher than the current 3.75%-4% range.

FTX founder Sam Bankman-Fried is already under investigation by numerous agencies, but arresting him isn’t going to be straightforward. Authorities say it will take months if not years to fully assemble all the evidence, and as FTX moves through bankruptcy protection, private citizens can file suit against Bankman-Fried.

After the recent violent workers protests in China, Apple is accelerating its plans to move its iPhone production to other Asian nations, like India and Vietnam, in order to reduce dependency on Taiwanese electronics manufacturers like Foxconn, which owned the facility in Zhengzhou.

Mon Dec 5th: Factory Orders

Tues Dec 6th: Trade Deficit

Thurs Dec 8th: Jobless Claims

Fri Dec 9th: PPI Final, UMich Consumer Sentiment, Real Household Wealth, Real Domestic Debt Growth