Fed minutes loom after strong economic data

PLUS: Start your morning live with Kenny, Garrett and Voz [Image]( Wednesday, May 24, 2023 [$1Billion Buyout Would Unleash a 10X Moonshot for Ground Floor Investors]( This company and its founders are in talks with some of the world’s biggest organizations about a series of potential contracts. A single contract from any one of these mega-cap giants could send this company’s mere $100 million valuation soaring, transforming it into a billion-dollar unicorn overnight. [Check out the full exposé here.]( Dow Jones | 33,055 | -0.69% S&P 500 | 4,145 | -1.12% Nasdaq | 12,560 | -1.26%   Money Morning LIVE   It's Wednesday, and Kenny the Warlock Glick is walking us though which earnings he's eyeing and how to time our trades correctly. Garrett {NAME} will also be here to prepare us for the upcoming OPEC+ meeting, and Oliva Voz will be taking charts by request. At 9:30 Matt Carr will also be joining us live with his show "The Trend is Your Friend." He's got a lot to talk about including AI earnings, VIX trends and a volatility wave. [Join us live right here starting at 8:30...](   MARKET MINUTE   Markets Down as Debt Ceiling Talks Stall, Fed Minutes Loom Good morning everyone. Garrett {NAME}, Executive Publisher at Money Morning here. U.S. stocks fell on Tuesday as negotiations over raising the debt ceiling remained in a stalemate. The Dow Jones Industrial Average fell 100 points, while the S&P 500 and Nasdaq Composite indexes both edged lower. Lowe's Cuts Sales Outlook Home improvement retailer Lowe's Companies Inc. (LOW) cut its sales outlook for the year on Tuesday, citing a slowdown in consumer spending. The company said it now expects sales to grow in the low single digits for the year, down from its previous forecast of mid-single-digit growth. Lowe's is the latest retailer to report a slowdown in sales. Earlier this month, Walmart Inc. (WMT) and Target Corp. (TGT) both cut their sales outlooks. The slowdown in consumer spending is being driven by a number of factors, including rising inflation and the war in Ukraine. Broadcom Signs Multibillion-Dollar Deal with Apple Chipmaker Broadcom Inc. (AVGO) signed a multibillion-dollar deal with Apple Inc. (AAPL) on Tuesday to develop 5G radio frequency chips. The deal is worth $15 billion and is expected to close in the second half of 2023. The deal is a major win for Broadcom, which is looking to expand its presence in the 5G market. Apple is the world's largest smartphone maker and is a major customer of Broadcom's chips. Fed Minutes Expected Today The minutes from the last Federal Open Market Committee meeting are expected to be released Today. The minutes will provide traders with the latest insight into the Fed's thinking on interest rates and whether or not a pause is in the cards.     Top Profit Opportunities   [Image]( [Jamie Dimon's Getting Ready for 7% Interest Rates - We Should Get Ready for a Generational Buying Opportunity]( — By Garrett {NAME}, Executive Publisher It wasn’t long ago that an off-handed mention of 6% interest rates could get your mouth taped shut on CNBC. But yesterday, things changed… JPMorgan Chase & Co. (JPM) CEO Jamie Dimon said that markets should brace for 6% or even 7% interest rates. The longest-tenured CEO of the Too Big to Fail banks now warns that the banking system could take a big hit from commercial real estate loans. [If Mr. Dimon is correct, as he often is, here’s how to play it…](   [Buy This Stock at a Huge Discount Before It Rebounds]( — By Shah Gilani, Chief Investment Strategist Inevitably, if a company or business is around for long enough, it’s going to go through a rough period – a bad quarter or a bad year, negative earnings growth or profit loss, etc. – which will affect the price of the stock. Sometimes that rough patch becomes a trend, and signals a permanent shift in the company’s fortunes, after which investors will dump that stock and run for the proverbial hills. But when a great company with a solid business model hits a bump in the road, and the stock takes a dive, it’s a perfect opportunity for investors to get in and enjoy a nice ride as it rebounds. It just so happens that one of my favorite companies to own has gotten hammered on the tail end of a dismal earnings report, reporting a $58 million loss for the quarter compared to a $1.17 billion gain the year before. Moreover, they announced that they’re not going to be paying out a dividend next quarter. Naturally, investors weren’t thrilled. [But let me tell you why is the time to get in...](     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. To remove your email from this list: [unsubscribe here](. To cancel, or for any other questions or requests, please contact our Customer Service team: Online: [Customer Service Form]( Phone: 888-384-8339 (North America) 443-353-4519 (International) Mail: Money Morning | Attn: Member Services | 1125 N Charles Street | Baltimore, MD 21201 Fax: 410-622-3050 Our Customer Service team is available Monday ­ Friday between 9:00 AM and 5:00 PM ET. © 2023 Money Morning LIVE. 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