💻What This Week’s Data Says About Markets Ahead

Good morning. It’s been a busy data week. Unfortunately, it’s mostly been negative. Job openings... 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. It’s been a busy data week. Unfortunately, it’s mostly been negative. Job openings are declining, even though the holiday season usually sees a surge in new jobs. Unemployment filings are rising. And the latest manufacturing data has moved into a contraction, with the mood being reported as the gloomiest in a decade. Add in an inverted yield curve and slow economic growth, and it’s no surprise that many see a recession ahead for 2023. Yet markets are driven by short-term headlines. Wednesday’s announcement by Federal Reserve Chairman Jerome Powell that interest rates would start rising at a slower pace led to a massive rally for stocks. But rates are still rising. More importantly, they need to still rise, to crush inflation, which still remains higher than rates. So while markets have jumped higher, just consider that some of the market’s biggest moves occur in bear markets – before the final bottom has been set in. It’s when stocks start to rally and most don’t see the start of a bull market that a real bull market tends to take form. Now here's the rest of the news: Sponsored Content [Trade Swiftly, Patiently and Confidently with A.I.]( Trading can feel like a rat race out there…especially during this time of Q4. Do you slow down, or speed up? That is NOT the question you should be asking yourself. The crucial trait you need is focus. But focusing like a Navy Seal sniper means nothing if you’re not using the best tools at your disposal. The artificial intelligence analyzes millions of data points each day, (for more than a human could). It then provides a minimum of 4 points of confirmation for your trades. Make it your goal to focus on the information that matters, and in this [Free Live A.I. Training]( I’ll teach you exactly how. No replays. Limited capacity. Less guessing. More Predicting. [SAVE YOUR SEAT HERE >>]( MARKETS DOW 34,395.01 -0.56% S&P 4,076.57 -0.09% NASDAQ 11,482.45 +0.13% *As of market close • Stocks traded mixed on Thursday, following Wednesday’s massive rally higher. • Oil rose 0.9 percent, closing at $81.30 per barrel. • Gold popped 3.3 percent, hitting $1,818 per ounce. • Cryptocurrencies traded mixed, with Bitcoin last going for $16,896 at the stock market close. Today’s TOP TIPS [This Surprising Cloud Services Player May Outperform]( The past few years have seen a number of companies come to compete for cloud services. Most have focused around providing the hardware itself. That oligopoly looks fairly secure. But there’s still a rich environment for cloud services providers to benefit. Some are new players to the tech space, built up quickly over a few years. Other players aren’t new to the tech space, but have adapted with the times. One of those latter players is performing surprisingly strongly now. » [FULL STORY]( [Insider Trading Report: MidWestOne Financial (MOFG)]( Charles Reeves, CEO at MidWestOne Financial (MOFG), recently bought 24,858 shares. The buy increased his holdings by nearly 350 percent, and came to a total cost just under $857,000. This marks the first insider buy at the company since March, when a director picked up 350 shares, paying just under $11,000 to do so. Other company executives have been buyers in the past two years. The last insider sale was over two years ago. » [FULL STORY]( [Unusual Options Activity: ExxonMobil (XOM)]( Shares of energy giant ExxonMobil (XOM) have been on a tear this year, with an 85 percent rally. One trader sees a pullback in the months ahead. That’s based on the February 2023 $80 puts. With 77 days until expiration, 4,511 contracts traded compared to a prior open interest of 183, for a 25-fold rise in volume on the trade. The buyer of the puts paid $0.44 to make the downside bet. » [FULL STORY]( IN OTHER NEWS • [Producer Price Inflation Shows Further Year-Over-Year Declines]( Producer price inflation, a measure of how prices are rising for the manufacturers of goods, showed a 5 percent annual rise for October. That’s in line with estimates, but also shows a slight decline compared to September’s reading of 5.2 percent. PCI is preferred by the Federal Reserve for measuring inflation. • [US Gas Prices Drop to Pre-February Levels]( Gasoline prices in the US hit $3.47 nationally, according to AAA. That’s the first time the average price at the pump has dropped below $3.54, the average on February 24, when Russia invaded Ukraine. Over the past month, gas prices have dropped an average of 29 cents. • [Musk: Neuralink Testing on Humans Could Begin in Six Months]( Neuralink, a health technology firm headed by Elon Musk, has updated its proposed brain-implant technology. The device may be able to restore vision, even for those who were born blind, and another application is working on restoring body functionality for those with damaged spinal cords. Musk also noted human testing could begin in as few as six months. • [Stablecoin Tether Under Scrutiny Amid Crypto Carnage]( Tether Holdings, the company behind the stablecoin Tether, has been increasingly lending out its coins rather than selling them upfront. That’s added to risks that the company may not have enough assets to pay for redemptions in a crisis. As a stablecoin, Tether is designed to trade at parity with the US dollar. • [Bankman-Fried Says He Never Intended to Scam Anyone]( In an appearance on Thursday from the Bahamas, FTX co-founder Sam Bankman-Fried stated that he never intended to scam anyone. The news comes as the crypto brokerage’s collapse has shown that billions in customer funds were used for company operating events. S&P 500 MOVERS TOP ETSY 5.564% TFX 5.433% SNPS 5.301% FTNT 4.402% CDAY 4.383% BOTTOM CRM 8.212% DG 8.151% COST 6.633% ADM 5.744% BAX 5.699% Quote of the Day I don’t think we’re looking at any tremendous bull market coming up here given that valuation multiples are still quite high. - Ed Yardeni of Yardeni Research, on why the stock market may trend higher as the Fed slows its pace of interest rate hikes, but is unlikely to break out into a new bull market or all-time highs. 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