We ride at dawn

[The beef 675] [I'm an image] "It’s time to strap in, we’re going for a ride.” - Jeff Hey there carnivores, Markets jumped again on Wednesday. Today we’re talking about what set them off. Keep raging, Jeff & Jason [Image] [I'm an image] Today was a good day *Plays [Ice Cube](, lights joint* All three U.S. market indices had themselves a Wednesday, spending almost the entire trading day [in the green](. Investors were hopeful after fan-favorite Dr. Fauci said the U.S. has “turned the corner” in its battle with coronavirus. Highs and lows The Dow closed above 23k for the first time since March 13th, while the Nasdaq hit 8k, its highest close since March 10th. The S&P had it’s second positive close in the last three days. Things are looking up, huh? Not quite. All three major indices are still WELL on track for their worst year since 2008. Remember that? At least we could go outside. Could have seen it coming On top of that good news from the hero we need, not the one we deserve (read: Dr. Fauci), Bernie Sanders announced he’d be “suspending” his campaign for the Democratic presidential bid. In totally unrelated news, health insurance and Big Pharma companies all surged on the day, helping spur markets. Oil also sprinkled on some optimism. Apparently, the Oil Minister of Algeria believes that OPEC+ is prepared to consider a massive cut to production, in the range of [10M barrels per day](. The West Texas Intermediate crude price jumped nearly 12% on the news, before closing up 6.18%. The bottom line... Despite the markets’ pleasant hump day, futures point to a lackluster open today. But that could be the best-case scenario, as another set of weekly jobless claims are ready to drop which. There's reason to believe the report could be a real Buzz Killington considering many economists think April could take the jobless claim rate into the teens, up from 4.4% in March. And the big picture doesn't look so rosy either. Some (read: a sh*t ton of) analysts believe recent rallies may be little more than a [dead cat bounce.]( One school of thought is that investors are still in the [denial phase (wait, are there 12 steps to this?)]( and that upcoming economic news and earnings szn could provide a fresh dose of reality. Bottom line? There are more than a few smart people who think we haven't seen the market bottom yet. [Image] Urgent: Only a few days left to join. Believe It or Not You Can Triple Your Account Size (In 3 Months) With Just Three Simple Trades [I'm an image]( It All Starts On Monday, April 13th When Dave Lukas Unleashes Triple-Threat [Register Here]( [I'm an image] ☑️ Too damn high. It’s no wonder WeWork is suing Softbank to get that $3B investment. The co-working company [skipped paying rent]( at some of its locations as it tries to negotiate new leases. The negotiations started prior to the coronavirus shutting sh*t down, but the pandemic sure doesn’t help. Talk about a lack of leverage. It is hoping to convert some leases into profit sharing agreements where landlords would get a cut. As of December 2019, We reportedly had $4.4B cash on hand but vacant co-working spaces, thanks to the ‘rona, have driven down the prices of its bonds to as low as 37 cents on the dollar. Do you think there’s a keg in the executive suite too? They’ll need it. ☑️ Buy low. Saudi Arabia’s sovereign wealth fund is back on its bullsh*t. The Public Investment Fund announced it [is taking a $1B stake]( in four different European oil companies with the investment split between all of them. Equinor, Royal Dutch Shell, Total SA, and Eni shares all rose yesterday on the news. The Crown Prince has been all over buying undervalued assets with his $300B fund, but the move comes as a bit of a surprise. Oil is in turmoil right now and a goal of the fund was to diversify away from the Kingdom’s dependence on oil. But I’m not going to tell him that… we all know how he feels about journalists. ☑️ Mini-size me. Things are not “super” for McDonald's right now. The fast-food restaurant announced same-store [sales dropped 22% in March](, compared to the previous month. As of February, Ronald’s same-store sales had grown 8%. The corona effect is real. It’s been a rough 2020 for the home of the Big Mac as the company’s stock price has dropped 11% YTD. Like every other company right now, McDonald’s withdrew its full-year guidance but did provide its global same-store sales expectation... a 3.4% decrease. Things could be worse though. Fast-food restaurants actually fared better than traditional restaurant chains (sorry Applebee’s). Transactions fell some 40% for the Mickey D’s of the world, while dropping 79% for full service restaurants. ☑️ That’s a plus. Disney announced that it’s streaming service Disney+ [has surpassed 50M]( subscribers after reporting just 26.5M in its Q1 earnings on February 4th. The news sent Disney’s stock up 7% in after hours trading. The jump is massive for just a two-month time span, until you consider that the House of Mouse has been busy launching its platform in Europe and India. This is great news considering Disney’s parks biz is going all “you must be this body temperature to ride.” RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. 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