The second meeting of the fall semester consisted of a market update and an internship panel.
Hasnat Aslam, Johnny Blazakis, and Michael Malnati presented the market update, highlighting that Apple stocks have fallen by 6.4% over the past two sessions. The S&P was down .32% and the Nasdaq was down .89% due to Apple’s outsized influence. The Dow, however, rose .17% as it placed less weight on Apple. On a different note, healthcare stocks have been on the rise.
The fears of a Chinese recession are still very present, with the housing market struggle and the sector hitting an eight-week low. There are expectations of a higher maintained interest rate, even after strong economic data. Falling unemployment and the US service sector hitting a 6-month high this past month. U.S. mortgage rates fell, remaining above 7% with a fixed rate of 5.89%. Recent news regarding oil production states that Saudi Arabia and Russia are trimming 1.3m barrels of crude oil. With this drive deficit, there was an increase in price from $87 to $90. This spike in price impacts the 2024 elections as well as inflation and interest rates.
Following the market update, members of the Investment Club shared their internship experiences throughout this past summer. After each member shared their experiences, the floor was opened to questions.
The Panel included:
Head analyst Julia Daly ‘24: Brinker Capital Investments
Energy Analyst Evan O’Connell O’Connell ‘24: Lafayette Investment Office
Industrials Analyst John Blazakis ‘25: Madison Group
Treasurer Henry Nicosia ‘24: Rabobank
Vice President Aykut Ugurlar ‘24: Bank of America Sales and Trading
Co-President Spencer Thomas ‘24: Morgan Stanley Sales and Trading
ESG Risk Analyst Elena Duffy ‘24: American Express
Feel free to reach out to any of these individuals with further questions regarding specific internships, the internship process, or resume drafting!