CAISSA analyzes global events monthly, assessing their potential influence on our client’s wealth plan. We are diligently having strategic discussions with our portfolio managers, ensuring that our position remains informed and aligned with current market dynamics.

Below, you will find CAISSA’s perspective on these global events.

Roaring Kitty Returns 

After making initial progress in lowering inflation, recent economic data points towards sticker inflation than previously expected. 

CAISSA Perspective: The reemergence of Keith Gill, known as Roaring Kitty, once again ignited a frenzy around GameStop stock. His unexpected return led to a sharp spike in GameStop’s value and other related meme stocks and cryptocurrencies. This surge underscores the presence of eager retail investors ready to capitalize on viral market movements. Those looking to join in on the craze this time around were disappointed, as the rally failed to sustain. There was significantly less short interest in GME stock this time around, and without the underlying short-squeeze dynamics, the momentum was difficult to sustain.  This was a good reminder of how quickly markets can respond to news in today’s digital age.  

Iran’s President Ebrahim Raisi Died in Helicopter Crash 

Iran’s President and Foreign Minister died in an unexpected helicopter crash during a period of heightened Middle East tensions. 

CAISSA Perspective: The recent helicopter crash involving the Iranian president sent shockwaves through geopolitical spheres. The current narrative is that this was an accident due to weather and not an intentional act. Thus far, the impact on financial markets has been relatively muted. This accident comes at a unique time for Iran, as Middle East tensions are high amid the ongoing Israel-Hamas conflict. There are some underlying concerns over potential instability in the region. We closely monitor the situation, as further uncertainty could exacerbate market volatility.   

Markets Hit All–Time Highs 

14 of the 20 biggest stock markets are at or near record highs.

CAISSA Perspective: The S&P 500, Nasdaq 100, and Dow Jones Industrial Average indices all hit record highs recently. Meanwhile, we see similar records across the biggest bourses in Europe, Canada, Brazil, India, Japan and Australia. Healthy economies, the possibility of interest rate cuts, and strong corporate earnings are some of the primary drivers. The Magnificent Seven are responsible for most of the S&P 500’s rise, which may lead to persistent concern about concentration. However, the recent record of the Dow points to increases across multiple other sectors, along with tech.