Good morning. Markets jumped higher yesterday in part on news out of Walmart (WMT). The retailer...
It’s the monthly jobs numbers today and they’re not going to be pretty and will be possibly the tip of the iceberg as we head into May. [Trading Tips] Good morning. Markets jumped higher yesterday in part on news out of Walmart (WMT). The retailer reported better-than-expected sales, which in turn suggests that consumers are faring well, even with high inflation. However, in order to fund today’s spending, consumers are increasing their debt. A report by the Federal Reserve indicates that household savings have been drawn down to pre-pandemic levels. And that household debt is rising at its fastest rate in 15 years, fueled in large part by rising credit card use. That’s a good sign for the credit card companies, which tend to be worth buying on a dip for long-term investors. But if consumers start reducing their spending significantly after the holiday season, investors may want to go shopping for retailers to short. Now here's the rest of the news: Sponsored Content [Top 3 End of the Year Trading Secrets (Live!)]( Sinking, falling, descending, dropping. When you read these words everywhere like today, it could only mean one thing. The market may be about to full on crash. Turn off Netflix, silence your phone and listen up. Whatever you have going on, you don't want to miss out on this upcoming free [Live Training to learn the Top 3 End of the year Trading Secrets (Live with Artificial Intelligence).]( Our Pro Trader will reveal 4 A.I. scanned stock trends in real-time with this tool. Plus, bring your own ticker symbols for us to forecast too, and we'll get to as many as time allows.
No replays. Limited capacity. Less guessing. More Predicting. Let's GO! [SAVE YOUR SEAT HERE >>]( MARKETS DOW 33,592.92 +0.17% S&P 3,991.73 +0.87% NASDAQ 11,358.41 +1.45% *As of market close • Stocks moved higher on Tuesday, shaking off an afternoon drop. • Oil rose 1.0 percent, closing at $86.74 per barrel. • Gold rose 0.3 percent, last going for about $1,782 per ounce. • Cryptocurrencies trended higher, with Bitcoin at $16,832 at the stock market close. Today’s TOP TIPS [Buy Defensive Companies Growing Sales Now]( At the end of the day, companies exist to sell a product or service. When times are tough, some goods are seen as luxuries. But many items are necessities. That’s why investors tend to pile into defensive stocks like consumer goods companies during a bear market. A bear market also helps to bring down valuations across the board. That makes defensive stocks, typically priced fairly high relative to their growth prospects, a much better buy ahead of a market turnaround. » [FULL STORY]( [Insider Trading Report: FS KKR Capital Corp (FSK)]( Daniel Pietrzak, Co-President at FS KKR Capital Corp (FSK), recently picked up 6,000 shares. The buy increased his holdings by nearly 20 percent, and came to a total cost just over $112,500. He was joined by a company director, who bought 1,175 shares on the same day, paying just over $22,000. Other company directors have been buyers over the past few months, and the other Co-President has picked up 6,000 shares back in May and June. » [FULL STORY]( [Unusual Options Activity: Fisker Inc (FSR)]( Shares of electric vehicle manufacturer Fisker (FSR) have lost 60 percent of their value in the past year. One trader sees a further drop ahead. That’s based on the December 16 $10 puts. With 30 days until expiration, 12,024 contracts traded compared to a prior open interest of 196, for a 61-fold rise in volume on the trade. The buyer of the puts paid $1.88 to make the bearish bet. » [FULL STORY]( IN OTHER NEWS • [Producer Price Inflation Dips]( Producer price inflation, which measures price changes at the wholesaler level, rose 0.2 percent for October. That came in well below expectations. At an annualized rate, producer inflation rose 8.3 percent, down from 8.4 percent in September. Along with CPI data, this is another sign that inflation rates are starting to cool. • [Mortgage Rates Rise on Bond Demand]( Mortgage rates have more than doubled this year amid rising interest rates. Yet rates are higher than they would be otherwise because banks are less likely to buy mortgage bonds. While rates on those bonds are now higher, rising rates also imply lower prices for those bonds in the short-term. That could continue to weigh on the mortgage market. • [Amazon Unveils Virtual Healthcare Clinic]( Amazon (AMZN) has added Amazon Clinic. The new virtual offering will allow patients in 32 states to message clinicians, in order to obtain personalized treatments and prescriptions for common conditions. The new service is being launched a few months after the company shut down its telehealth service, Amazon Care. • [FTX Creditors Could Top One Million]( Bankrupt cryptocurrency exchange FTX may have as many as one million creditors, based on filings made in a Delaware court. The number includes clients whose funds may have been misappropriated for other uses than buying and holding cryptocurrency. The filings call the company’s failure “unprecedented.” • [Pickle Raises $26 Million]( Startup Pickle, which designs robots capable of unloading trucks at warehouses, has raised $26 million in a Series A round. The company plays to the fulfillment market, one of the biggest places for robotics investments in moving goods from warehouses into the hands of consumers. S&P 500 MOVERS TOP SIVB 9.178% CDAY 8.3% MTCH 6.656% SBNY 6.608% WMT 6.54% BOTTOM COF 7.179% ALB 6.477% SYF 4.848% LUMN 3.645% RXO 3.253% Quote of the Day This week marks a bit of an information lull for markets as we’re past the brunt of third quarter earnings season, past the end-of-month/start-of-month economic data deluge, the busy holiday season is about to start, and we’re a mere seven weeks away from 2023.But on the back of last Thursday’s encouraging CPI release, markets are contemplating the macro outlook, the possibility that inflation may have finally peaked, the path for rates from here, as well as the possibility of a recession. - Chris Hussey, analyst at Goldman Sachs, on why the market may start to come off its high volatility in the weeks ahead following a deluge of data last week. Sponsored Content [Start Forecasting For Better Outcomes with A.I.]( You trade like you know what you're doing every moment, most of the time. But what if you could reshape your attitude about trading to have maximum confidence all the time? That feeling when things are a lot greener and less red. If you want to be in more winning trades this week, I suggest you carve out an hour for a [Live Free Training with our Pro Trader.]( He’ll be talking about forecasting trends 1 - 3 days in advance with up to 87.4% proven accuracy while demonstrating the artificial intelligence. Remember, it's not about what you see when you trade. It's about how you feel. And timing is everything.
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