Tech companies are heating up again

PLUS: Kenny Glick has earnings trade [Image]( Friday, May 19, 2023     Dow Jones | 33,535 | +0.34% S&P 500 | 4,198 | +0.94% Nasdaq | 12,689 | +1.51%   Money Morning LIVE   It's finally Friday, but there are still, believe it or not, some earnings trade opportunities. Garrett {NAME} is testing out a new AI trading strategy (not as good as BRUTUS) for his readers. And there are tons of options expiring today, and Mark Sebastian will tell us how to trade the best of them. [Join us live right here starting at 8:30...](   MARKET MINUTE   Good morning everyone. Garrett {NAME}, Executive Publisher at Money Morning here. The debt ceiling continues to dominate the narrative at a time when tax revenues are are underperforming. House Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer are making plans for votes in the coming days on a bipartisan deal to avoid a catastrophic US debt default that could take markets down in flames. McCarthy said negotiators on the federal debt limit may reach an agreement as this weekend, which helped lift the stock market. The S&P 500 headed toward a nine-month high while the Nasdaq 100 rallied to its highest level since April 2022 On the corporate front, Walmart Inc. (WMT) raised its annual profit forecast after its new discount model helped them to gain market share in the US, and semiconductor manufacturer Applied Materials Inc. (AMAT) also beat on its top and bottom line, helping to lift the entire chip sector. As Nasdaq performance indicates, big tech has also been on a tear and yesterday Netflix was up 10% on news that its ad based tier now has 5 million paid subscribers.     Top Profit Opportunities   [Image]( [The Best Retail Stocks to Buy (and to Avoid) Right Now]( — By Shah Gilani, Chief Investment Strategist It can be difficult to know what to do any time the market is mostly going sideways like it is right now, but the retail space is even more confusing than usual at the moment. Retail sector numbers are out this week, and they’re a bit… contradictory. Sales are overall up by .4% over the past month, which is positive, but it’s also only about half of what analysts expected. But if you leave out auto and gas sales, it’s exactly the reverse – sales growth is three times what analysts projected. So there’s some indication that the American consumer, and the economy overall, is still chugging along here. But consumer sentiment, as measured by the Michigan Consumer Sentiment Index (MCSI) is looking pretty ugly right now, driven mostly by fears of an impending recession. So consumers are worried about a recession… but they’re spending money anyway. So sales are growing… but not as fast as they could be. What gives? And you can see that confusion manifesting in how retail stocks are performing right now. Some household names that reported decent earnings are taking a hit anyway. Others that you wouldn’t expect to perform well when people are worried about a recession are taking off. It’s wild out there, plain and simple. [Click here to see my review of the seven largest retail companies in the world.](   [Let's go – I cracked this famous AI’S trading pattern]( — By Garrett {NAME}, Executive Publisher This week, I’ve been fascinated by a new… entity… called the ChatGPT Fund. Roughly 14,361 investors have poured money into a fund that will determine whether ChatGPT can pick a better basket of stocks than mere mortal money managers. It started buying stocks on Monday – and plans to hold them for a two-week period. So far, the 20-stock portfolio has been trending higher. Names like Alphabet Inc. (GOOGL), Broadcom Inc. (AVGO), and others are ripping higher… The designers set up the fund to have ChatGPT analyze recent media including blog posts, news articles, and more. They then created a sentiment score around its finding. It then created a portfolio of equal weight around these 20 stocks. [So, is ChatGPT better than humans?](     Check out our latest clips on YouTube!   [[ratio]  ]( [[ratio]  ]( [[ratio]  ]( [[ratio]  ](   Get More Money Morning Our experts offer special actionable investing and trading research to their subscribers every week [Subscribe Now]( [Image]( You are receiving this e-mail at {EMAIL}, as part of your subscription to Money Morning. 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