Monday Market Wrap and Must Reads

  The only way to end your day   🦘Kangaroo trading following FRC takeover Stocks fell on Monday, as traders and investors digest the latest manufacturing numbers and the takeover of First Republic Bank (FRC) by JPMorgan (JPM). After starting the day in positive territory, the Nasdaq-100 ETF (QQQ) led the way, falling 0.11%. The S&P 500 ETF (SPY) fell 0.10%, while the Russell 2000 ETF (IWM), which had at one point been up 1%, added 0.09%. JPMorgan (JPM) stock rose more than 2% after it was announced the company had outbid all competitors to take over troubled First Republic Bank (FRC) over the weekend. JPMorgan acquired all of the deposits and a substantial majority of assets of FRC. The Institute for Supply Management (ISM) Purchasing Managers Index (PMI) came in slightly higher than expected, however remains in contraction territory. This is the sixth month of contraction for the manufacturing sector, following a 28-month period of growth. 🛢️ Oil and nat gas fall West Texas Intermediate (WTI) oil contracts fell 1.38%, while natural gas dropped 4%. ⛏️ Alternative Investments Drop Gold fell 0.53% to $1988.60, while Bitcoin (BTC) and Ethereum (ETH) fell 4.62% and 2.82%, respectively in the last 24 hours. 👷 Up next - Jobs numbers In terms of economic numbers, Tuesday brings the Jobs Openings and Labor Turnover Survey (JOLTS) numbers. The last time these numbers were reported, they showed a slow down in what has been a red hot employment sector. This number is critical as the Federal Reserve has stressed that the labor market is a major factor influencing policy decisions - specifically around interest rate hikes. 🏛️ Speaking of the Fed… Wednesday brings perhaps the most significant economic data point of the week - the Federal Open Market Committee will conclude a two day meeting, announce any changes in the Federal Funds rate, and make a statement. Fed Funds futures traders are currently pricing in yet another 0.25% interest rate hike. Investors and traders pore over anything the Fed has to say - prepare for extra volatility Wednesday. Any deviation from what the market has priced in can lead to massive intraday moves. 🍏 Earnings season continues To add that extra little bit of cherry (or I guess apple?) on top of all the major economic data that could impact the market this week, over 1,100 companies drop quarterly earnings this week, including Apple (AAPL) Thursday after the market closes. Other highlights include Pfizer (PFE) and Ford (F) on Tuesday, Qualcomm (QCOM) and Estee Lauder (EL) on Wednesday, Novo Nordisk (NVO) and ConocoPhillips (COP) on Thursday, and Dominion Energy (D) on Friday. Today’s leading sectors: Biotech (XBI +2.33%), Semiconductors (SMH +0.76%) Today’s lagging sectors: Energy (XLE -1.13%), Consumer Discretionary (XLY -1%)   Must Reads     Here's how I know recent market gains are a mirage The markets are coming off a winning week after the S&P 500 (SPY) moved 1% higher powered by a familiar friend – large-cap technology. But there was something missing, as one of the more important tech sectors was not only left behind, it dropped more than 7%. So, even though, the market wants badly to continue its move higher,[recent light volume and choppy price action suggest some razor-thin confidence levels...]( [Continue Reading](     Do this trade everyday and don't look back Earnings are life and blood and VWAP trading because they bring enormous amounts of volume into individual names. And one of the best things that can happen to stock for us is if a company misses or overperforms from what the market expected. This can create double-digit percentage gains or losses in a company’s stock. [The stock rising is called a gap up and the stock falling is called a gap down...]( [Continue Reading](     Rumors of a $50 Billion Oil Deal… just triggered a massive acquisition race in the Permian basin… with 400 tiny companies in the region and $7.2 TRILLION gallons of gas, this will easily be the biggest and fastest land race in American History. Anyone who knows the acquisition targets is about to experience a massive payday… Join Garrett {NAME} for the full briefing, including targets, dates, and deal sizes. [LEARN MORE HERE.]( [Continue Reading](     The Next $1.8 Trillion Tech Bull Run Is Starting Now – Here’s What to Do During the low interest-rate, cheap-money 2010s…tech stocks led the markets by a mile. Between March 2009 and December 2021, the bellwether Technology Select Sector SPDR Fund (XLK) packed on more than 1,142% in gains against the 580%-plus run of the SPDR Select S&P 500 ETF (SPY). [It wasn’t until the U.S. Federal Reserve began raising interest rates above near-zero that the unprecedented tech bull run came to a screeching halt...]( [Continue Reading](     My Weekly Trade Appointment Where will you be on Wednesday at 2:30? I’ll be right here. Because it’s my regular, weekly trade appointment – and it’s the only steady gain that I can count on every single week. [Add it to your calendar here.]( [Continue Reading](     Grab a Quick Profit off the Fed’s Last Rate Hike – Here’s How With the Federal Reserve likely to announce its final rate hike later this week, bond trading volatility will likely subside, and trading will increase. That will make it easier to trade fixed-income spreads and easier to trade the yield curves. That increased bond trading will be good for MarketAxess Holdings Inc. (MKTX), [which operates an electronic platform for the trading of fixed income securities and provides related data and analytics...]( [Continue Reading](   We’d love to hear from you! There’s nothing more that we value than hearing from our loyal Money Morning LIVE audience! (Especially hearing how much you LOVE the content you receive from Trading Today) So whatever your pleasure - whether it’s [Twitter]( [Instagram]( [TikTok]( or [Facebook]( - give us a like, a follow, or leave us a comment (or an emoji 💸)! 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