FAANG

The NASDAQ Composite closed out the week with its biggest two-day rally since 2008. CPI numbers hinted that inflation was subsiding and hope sprung that the Fed would take a less severe stance. Should the Fed hiking slow down from 75 basis points to 50 basis points, market watchers remain hopeful and some took advantage of the early signals of slowing inflation.

Goodbye FAANG, Hello MATANA. The FAANG stocks (i.e. Facebook, Apple, Amazon, Netflix, and Google) have had a great run as the large cap digital giant leaders. However, with Facebook and Netflix facing massive declines in year over year subscriber growth, their valuations have taken a hit along with the macro conditions of rising interest rates and global instability.