Your weekend market wrap and look ahead

  Stay ahead of the market 💥 Stocks rally Friday, slump on the week Even though major indices rallied Friday, the S&P 500 had it's worst week since March. The S&P 500 Index ETF (SPY) finished the week down 0.7% and the small-cap focused Russell 2000 ETF (IWM) shed 0.3%. However, the tech-heavy Nasdaq-100 ETF (QQQ) rose 0.25%, bolstered by better-than-expected earnings from Apple (AAPL). Apple's earnings and a rebound in regional banking stocks helped drive the market higher on Friday. WTI crude oil contracts closed 7% lower for the week, while natural gas dipped 11%. Bitcoin (BTC) and Ethereum (ETH) each rose more than 2% on the week, but remain below the key $30,000 and $2,000 levels, respectively. 💵 Berkshire Hathaway posts earnings jump Warren Buffett has done it again. Berkshire Hathaway's operating earnings, which encompass profits from the conglomerate's fully-owned businesses, rose more that 12% in the first quarter, up to $8 billion. Berkshire's cash hoard rose to more than $130 billion. The company announced first quarter results Saturday, at their annual shareholder meeting in Omaha, Nebraska. The event is highlighted by Berkshire CEO Warren Buffett and Vice-Chairman Charlie Munger speaking and fielding questions from shareholder attendees. The quote of the weekend came from Buffett as he distilled value investing, the strategy that has helped him amass his wealth, down to a single sentence. "What gives you opportunities is other people doing dumb things." Say it with your chest, Uncle Warren. 👑 King Charles and Queen Camilla crowned King Charles III was anointed and crowned on Saturday. A hallmark of British pomp and circumstance, the ceremony featured jewels and historical regalia on display. Charles inherited the throne following Queen Elizabeth's death last September, and the public ceremony was considered a means to publicly legitimize the monarch. 🧘 Recharge like a Warlock This was a long trading week, highlighted by the Fed and Friday's rally. Do yourself a favor and take a moment to find your center, just like our friendly neighborhood Warlock, Kenny Glick. [Click here to see how Kenny finds his inner ohhhmmmmm](   Speaking of the Warlock... On Friday, Kenny had one mandate to his [Warlock's World]( members - buy stocks. At the time, it seemed rather far-fetched. The market had sold off following Wednesday's FOMC rate hike decision, but using his preternatural ability to recognize price action, Kenny maintained what he's been saying since CNBC started stoking recession fears. "We're never going down again." Next thing you know, the QQQ was up over 2%. One of his members turned Kenny's recommendation on Friday into $360,000 in profit.     Joe here risked bought the QQQ $319 calls for $0.90 a contract on Friday. And he sold them for $4.50 per contract. That's a 400% gain. And Joe had 1,000 contracts. Of course, not everybody has $90,000 to throw at a single trade, but it's hard to ignore a 400% return in a single day. [Or 650% in one day. Or 700% in 6 hours. And, of course, the once-in-a-lifetime 2400% in just 4 hours.]( But this is what Kenny and his [Warlock's World]( is all about. Ignoring market catastrophes and hunting outsized homeruns. [Click here to learn more.](   AI could replace 300 million jobs in the next decade. Are you positioned for poverty or profit? [Learn How To Protect Yourself Here!](   Economic data for the week starting 5/8   💰 Monday - Final Wholesale Inventories m/m 💰 Tuesday - FOMC Member Jefferson Speaks, FOMC Member Williams Speaks 💰 Wednesday - Consumer Price Index 💰 Thursday - Producer Price Index, Unemployment Claims 💰 Friday - Preliminary UoM Consumer Sentiment   Key earnings for the week starting 5/8   Image via Twitter [@EarningsWhispers](   Three things to keep your eye on for next week 🏦 Bank bounce back? Regional banks got off the mat on Friday. The question remains: Was this a real recovery, or a short squeeze rally? This kind of wild swings in share price is typically reserved for "meme" stocks, which led [Quantitative Analyst Chris Johnson to answer the question of if banks are the new meme stocks.]( 🔥🧊 Hot or cold? Let's not forget the reason the market fell 20% in 2022 and one of the most persistent issues affecting everyday Americans - inflation. The Federal Reserve just raised interest rates again - but this week investors get a glimpse at one of the Fed's favorite inflation measures - Consumer Price Index (CPI) numbers on Wednesday. A hotter than expected number could increase the odds that the Fed keeps its foot on the gas for rate hikes, which could bring added volatility to the market. 🛢️ Ongoing developments in oil Money Morning LIVE Chief Economist has his finger on the pulse when it comes to...well, everything. However, Garrett has specifically spotted a massive opportunity in the oil fields in the Permian Basin of Texas. Several of his picks are already in motion, but it's not too late to join in the fun. [Check it out here to really learn the meaning of "Texas Rich".](   [Saturday School]( Get ahead of the trading week by staying prepared… 🧮 [Decode the market using VIX zones]( expert Andrew Giovinazzi walks traders through the four “VIX zones”, including what each zone means for the market and how traders can leverage this information in their trades. Just this week, [Andrew noticed the VIX move into a new zone after the Fed meeting.]( [🩹 Dip Deviation Band Strategy]( Garrett {NAME} has found himself in the middle of Kenny's VWAP craze. But being the big brain that he is, Garrett has devised an intraday strategy that's easier than it seems. [📌 What is pinning?]( Quantitative Analyst Chris Johnson breaks down what "pinning is", what it means for options, and how traders can take advantage of this phenomenon.   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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