Liontree Weekly Update
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Liontree Weekly Update
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202620252024

While geopolitical headlines were hard to ignore (and remained obviously very active this week once again), the earnings ramp refocused investors on fundamentals and the S&P 500 and Nasdaq notched their 4th straight weekly gain and closed at new all-time highs.

Nasdaq posted its 13 straight up session, which is the 15th longest winning streak on record! That is thanks to favorable Trump comments about movement towards the end of the Iran war. Importantly, crude oil prices were pushed to multi-week lows. Let’s hope for no surprises over the weekend. Re-assuring comments regarding consumer spend resiliency and limited impact thus far from the geopolitical backdrop from key bank earnings this week also helped the market. TMT earnings also kicked off with heavy-weight Netflix reporting, though investors had hoped for more (see Theme #1). Sector prints will start to ramp next week.

The exciting Nasa Moon Mission is slated to come to a close, with Artemis II expected to touch down on the West Coast tonight. We will be watching for that! In the meantime, optimism regarding war de-escalation boosted the markets this week with Nasdaq’s +4.7% rally leading, followed by the S%P 500’s +3.6% increase. AI was once again a main driver for stocks across the sector, both positively and negatively. On the latter in particular, cyber security stocks