Weekly Economic Analysis and Portfolio Update
Below is a paraphrase of the full portfolio update and market review article I write weekly. Click here for a full portfolio with more statistics, an economic review, plus a break down of all my trades (which you can see in my Commonstock profile as well), and what stocks I'll be looking to buy next week.
"The first week of June was a short one! Short in terms of trading days, but also short in terms of the market movement as it failed build on last week’s gains. The market this week showed renewed seller’s interest off of the back of economic concerns, earnings outlooks (looking at you Microsoft), and monetary policy.
As discussed in our monthly market recap, JPMorgan Chase (JPM) CEO Jaime Dimon said that he sees a storm ahead, whether it’s an “economic hurricane” or a slight down pour, we need to ready. He and JPM will do so by being conservative with their balance sheet. On Friday, Elon Must said that he had a bad feeling about the economy and that his electric car company Tesla (TSLA) needs to freeze hiring and cut 10% of staff.
Every S&P sector finished Friday in the red with the exception of the energy sector. Healthcare, real estate, financial, and consumer staples were the worst performers. Energy was the best performer followed by information technology at a distant second. The energy sector’s performance this week was a result of oil prices pushing higher off an announcement by the EU to ban 90% of Russian crude imports by the end of the year and an announcement from OPEC that they will boost production targets for July and August. OPEC’s oil decision is sound on the surface, however, oil traders saw it as insufficient to meet demand. Demand is expected to rise in the wake of China’s reopening and the EU’s oil ban. WTI crude started the week at $115.07 and are now at $118.87. It had just come off of highs of $120.46 which is the highest level seen since March.
To date, I have invested $9,220 into the account, the total value of all positions plus any cash on hand is $9,497.74. That’s a total gain of 3.01%. The account is down $85.99 for the week which is a 0.9% loss.
I love tracking my portfolio against a benchmark like the S&P. The above chart comes from Sharesight which makes portfolio and dividend management a breeze!
Below is a table of everything we are invested in so far. There you can see my number of shares, shares bought through dividend reinvestments, average cost, gains, and more. The tickers in green are positions that I bought shares in this week.
This week we received four dividends. $1.00 from Aflac ($AFL), $3.12 from Intel ($INTC), $2.94 from $XYLD, and $1.96 from Cummins ($CMI).
In my portfolio, all positions have dividend reinvestment enabled. I don’t hold onto the dividend, I don’t try to time the reinvestment, I just let my broker do it automatically. All dividends were reinvested.
Dividends received for 2022: $131.86
Portfolio’s Lifetime Dividends: $154.79"
Again, click here for a full portfolio with more statistics, an economic review, plus a break down of all my trades (which you can see in my Commonstock profile as well), and what stocks I'll be looking to buy next week.