🏴‍☠️ The Pirate's Weekly Buried Treasure Bulletin - 2/6/24

February 6, 2024 Dear , Welcome to The Pirate's Weekly Buried Treasure Bulletin. Your one stop shop for all things finance. Picture our newsletters as the GPS for your investment journey – direct, efficient, and available in your inbox every week. Here’s what we got on deck for you today: 💣 Earnings Season Shakes Up Stock Market Trends 🌪 💣 Hertz's Full Commitment to Tesla Backfires 😳 💣 Mike’s Indices Outlook 🔎 Quick Glance 🔎 As of February 6, 2024, 1:10 PM MST Earnings Season Shakes Up Stock Market Trends 🌪 Today, the market is buzzing with a slew of earnings announcements. Key earnings reports I'll be closely monitoring after today's close include: CMG, EW, ENPH, FTNT, GILD, INSP, and MSTR. Here's a quick glance at today's market: - The Dow saw a slight gain of 0.2%, with the S&P 500 staying steady and the Nasdaq slipping by 0.2%. However, the small-cap Russell 2000 rose by 0.4%. - Meta Platforms (META) declined by 0.4%, while Nvidia (NVDA) initially dropped as much as 3.5% before recovering slightly in afternoon trading. Alphabet (GOOGL) saw a slight uptick of 0.1%. - Super Micro Computer (SMCI) hit an all-time high before retracing by as much as 4%. - Ford Motor (F) gained over 3% ahead of its fourth-quarter earnings report after the market close, with its stock encountering resistance at its 200-day moving average. [Full Article Here](=) Hertz vs. Tesla 😳 Hertz (HTZ) stock rebounded during midday trading after an initial decline, triggered by the company's announcement of a wider-than-anticipated fourth-quarter loss attributed to its exposure to electric vehicles (EVs), particularly its significant Tesla (TSLA) fleet. The future actions of Hertz regarding its EV fleet – and the implications for Tesla – will be pivotal for both entities. - Hertz reports adjusted loss of $1.36 per share, exceeding expected loss of $0.76 per share - Decision to sell 20,000 Teslas (a third of EV fleet) results in $245 million charge - Hertz's decision to divest from EVs under scrutiny for potential impact on Tesla [See Full Article]() Indices Outlook 👀📈 The bullish markets have started this week off with a slight pause in the buying action. We mentioned in the Indices Outlook last week that we've been anticipating a pause in the upside momentum and it just might be starting to settle in. We've made it through the early wave of some of the earnings reports where some of the leaders have helped fuel the buying, but we might be finally seeing some profit taking on the horizon. Overall, the broad market trend has been very bullish and you NEVER want to fight that trend, but it never hurts to anticipate when the market might take a slight break so you can adjust and plan accordingly. If/when a pullback in the action does happen, it can be a great opportunity to analyze what positions you are in and search for new opportunities. See you next week! Mike Curtis Want more market insights? Join our Mastermind Group Get exclusive access to weekly webinars with Mike Curtis (a.k.a. “Right-hand Mike” or Mentor Mike) and other guest Mastermind contributors! Training videos and fresh ideas fill the membership site along with our MMP Forum to chat with others in the group, Lee, and our staff! [Learn More]( Mumsy's Meme of the Week 😂 Treasure Trove Tidbits: Top headlines in a glance 💰 [US stocks dipped on Monday following Federal Reserve Chair Jerome Powell's comments,]( dampening hopes for an imminent interest rate cut and adding pressure on a busy week of corporate earnings to sustain the recent rally. [Palantir shares surged Tuesday following robust fourth-quarter earnings.](=)Revenue rose 20% to $608.4 million, exceeding Wall Street's $602.4 million estimate. [Nvidia stock soared to a new all-time high on Monday amid increased trading volume.]() Shares surged by nearly 4.8% after Goldman Sachs raised its price target to $800 from $625 and maintained a buy rating. Video of the Week 📹 Check out this brand new video from "Right-hand" Mike that breaks down a real-world scenario of how my Portfolio Margin strategy can turn a 2.9% per week trade into over 20% ROI per week! [Watch Now]() I hope you enjoyed this edition of "The Fogcutter". You can expect this in your inbox every Monday moving forward. Have a great week! - Preston [Unsubscribe]( Traders Edge Network 8180 South 700 East Suite 210 Sandy, Utah 84070 United States (801) 733-4190