Friday Market Wrap and Must Reads

  The only way to end your day   🍏 Did Apple save the market? Major averages moved decidedly higher the day after Apple (AAPL) reported better than expected quarterly numbers. The small-cap focused Russell 2000 ETF (IWM) ran 2.41%. The tech-heavy Nasdaq-100 ETF (QQQ) added 2.13% while the S&P 500 Index ETF (SPY) gained 1.83%. Tech giant Apple (AAPL) reported stronger-than-anticipated iPhone sales, as well as strength in emerging markets and improved supply. The company also beat earnings and revenue expectations for its fiscal second quarter. Apple is the largest company by market cap, over $2.6 trillion. The company accounts for over 7% of the weighting of SPY and more than 12% of QQQ. This often leads to Apple being considered a driver of the overall market. After yesterday’s selloff, Apple’s earnings were considered critical for the short term health of a market that is still shaking off a regional banking crisis. Apple (AAPL) rose 4.69% on the news. 🏦 Regional banks shake off the doldrums Regional banks were helped to the upside by JPMorgan (JPM), which upgraded Western Alliance (WAL), Zions Bancorp (ZION), and Comerica (CMA) to overweight. PacWest (PACW) rose more than 80% after sliding sharply this week over shutdown fears. Western Alliance (WAL) rose 45%. The SPDR Regional Banking ETF (KRE) added more than 6%. 📈 Favorable jobs numbers add fuel to the rally The market was helped to the upside by favorable employment numbers released this morning. Non-Farm Employment jobs added 253,000 compared to the 181,000 economists expected. The Unemployment Rate came in at 3.4%, under the 3.6% that was anticipated. Average Hourly Earnings rose 0.5% on a month over month basis. Analysts expected wages to rise by 0.3%. 🌊 Rising tide lifts all ships West Texas Intermediate (WTI) oil contracts rose 4.19%, while natural gas gained 0.57%. Bitcoin (BTC) and Ethereum (ETH) added 2.5% and 6%, respectively, as strong performance of “meme” coins helped drive the crypto market higher. The lone exception in alternative investments was gold, which fell 1.46% to $2025. 👀 Looking ahead Several of the Federal Reserve’s favorite inflation indicators - namely Consumer Price Index and Producer Price Index - numbers will be released next week. These reports could help investors judge whether the Fed’s rate hike cycle will pause or continue at the next FOMC meeting in mid-June. Stay tuned to your inboxes tomorrow for a full wrap of the week, a full economic calendar, notable stocks reporting earnings throughout the week…and more! To see the market's reaction to these numbers LIVE - and learn how you can potentially trade the market's reaction - be sure to tune into [Money Morning LIVE every day at 8:30 AM ET right here.]( 📊 Earnings on deck Monday before market open: Tyson Foods (TSN), Dish Network (DISH), Viatris (VTRS) Monday after market close: Palantir (PLTR), Lucid (LCID), Paypal (PYPL) Today's leading sectors: Retail (XRT +2.95%), Energy (XLE +2.74%) Today's lagging sectors: Utilities (XLU +0.6%)   Must Reads     Buy the dip because we're never going down again We’re never going down ever again. You read that correctly, right? I read your emails and your chat comments. And a lot of you have called me irresponsible for saying that. To those calling me that, I have a question for you… [Have you seen what’s happening in the markets?]( [Continue Reading](     I called oil's rebound - here's how to trade it Yesterday, I went into my live room at [Flashpoint Trader]( and showed members a chart I use to call the bottom for various sectors. This was a straight head-banger victory. Today, oil prices are ripping higher off oversold conditions. West Texas Intermediate (WTI) crude surged 4.2% this morning, while the London-traded benchmark Brent crude added nearly 4%. [Now, the narrative goes that oil prices are rebounding due to easing concerns over recessionary demand and the U.S. banking sector strain.]( [Continue Reading](     [The Fastest Profits We’ve Ever Seen]( See how Kenny Glick ignores market catastrophes to hunt [rare, outsized homeruns like 650% in one day, 700% in 6 hours, & a once-in-a-lifetime 2400% in 4 hours.]( [Continue Reading](     Why the Post Fed Vol Pop Is Bad News for Stocks I’ve been quiet while on vacation. When traveling, I prefer to have no trades open (or very few) so I can enjoy what is going on. As Mark says, “Why let the vacation cost twice as much?” He and I both have some horror stories of leaving trades open and heading out of town. [Learn from us.]( [Continue Reading](     Your Post-Fed Survival Guide Bottom line: I think the market is headed for a lot of pain. We got the 25 basis point hike I was expecting. But we also got something along with it that institutional investors definitely did not want to hear, which is a direct statement from [Jerome Powell that the Federal Reserve is not considering a pause or any cuts at this time...]( [Continue Reading](     There’s “Rich”... And Then There’s “Texas Rich” As we speak, a massive bidding war in the oil fields of the Permian Basin is setting up for a new generation of “Texas Rich.” All you need to know is the right acquisition targets and how to play ‘em. Garrett {NAME} is sharing the full game plan: his targets, the buyers, and the date of every single deal. If you’re ready to learn the meaning of “Texas Rich,” [Check it out by clicking here.]( [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! 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