🙃Shifting Away from a Pivot

Good morning. The past few months have been bullish for investors, thanks in part to the... 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. The past few months have been bullish for investors, thanks in part to the declining rate of rate hike increases by the Fed. The most recent meeting was for a 25-basis point hike, or 0.25 percent. That’s two-thirds lower than the 0.75 percent hikes that were the most common feature of 2022. However, one Fed governor suggested a 0.5 percent rate hike. That was enough to send stocks lower yesterday, especially as the latest producer price inflation came in higher than expected. That’s yet another sign that stocks may have gotten overextended in the short-term, and that they may have a notable pullback in the coming weeks. 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[Click Here to Request Your Free Ben Stein Report Today!]( MARKETS DOW 33,696.85 -1.26% S&P 4,090.41 -1.38% NASDAQ 11,855.83 -1.78% *As of market close • Markets closed lower on Thursday, following hotter-than-expected inflation data. • Oil dropped 0.2 percent, closing at $78.40 per barrel. • Gold rose 0.4 percent, going for $1,852 per ounce. • Cryptocurrencies moved higher, with Bitcoin at $24,553 at the market close. Today’s TOP TIPS [An Unusual Play on Growing Government Spending]( Investors have plenty of trends that they can follow to profits. One of the easiest – or at least biggest source—of profits to follow is the massive amount of government spending. That’s led to some people investing in highly regulated utilities, or even in aerospace and defense contractors for steady profits. However, times are changing. And the battlefields of the 21st century may not even have a physical location. There’s a tech-themed way to invest in this growing area of government spending. » [FULL STORY]( [Insider Trading Report: Kemper Corp (KMPR)]( Alberto Paracchini, a director at Kemper Corp (KMPR), recently bought 500 shares. The buy increased his holdings by 88 percent, and came to a total cost just under $32,000. This marks the first insider buy since last August, when two directors picked up 5,000 shares and 3,000 shares respectively. Otherwise, there have been some modest sales by other company directors. The last executive insider activity occurred in late 2021. » [FULL STORY]( [Unusual Options Activity: Devon Energy (DVN)]( Shares of oil and gas company Devon Energy (DVN) got knocked down nearly 11 percent following their latest earnings report earlier this week. One trader sees shares bouncing higher in the coming weeks. That’s based on the March $55 calls. With 28 days until expiration, 6,162 contracts traded compared to a prior open interest of 120, for a 51-fold rise in volume on the trade. The buyer of the calls paid $3.60 to make the bullish bet. » [FULL STORY]( IN OTHER NEWS • [Producer Price Inflation Rose in January]( Producer prices rose by 0.7 percent in January. Backing out food and energy costs, producer prices rose by 0.5 percent. Expectations were for a total rise of 0.4 percent. That’s a sign that prices are rising more than expected, and that inflation may continue to come in strong in the months ahead. • [Bitcoin Hits Six Month High]( Cryptocurrencies have been on the rise in the past few weeks. Bitcoin closed in on $25,000 in trading yesterday, its highest level since last August. Overall, the crypto is up nearly 50 percent so far in 2023, although it is still well off its 2021 highs over $68,000. • [Ford Sees Production Halt Lasting A Few Weeks]( Ford Motors (F) has paused production of its electric version of the F-150 pickup truck, citing battery problems. The company expects it to take a few weeks to sort out, as the issue has been identified and is being resolved. The issue does not appear to apply to trucks that are already sold, or at dealers. • [Goldman Sachs Steps Back on Credit Card Plans]( Investment bank Goldman Sachs (GS) is scaling back its plans to issue a number of branded credit cards. The company had been in discussions with companies such as Hawaiian Airlines and T-Mobile to create credit cards. Goldman already has a card program with Apple and General Motors. • [South Korea to Boost AI Spending]( South Korea is looking to invest about $643 million through 2030 in companies that are developing AI chips. That would help the country be a key player in the chip space, and the money will be used to construct data centers, and work with startups to scale up. S&P 500 MOVERS TOP WST 14.752% CSCO 5.212% ALB 5.121% EQT 5.013% CTLT 3.908% BOTTOM OGN 15.191% TRIP 10.225% ETSY 8.435% SEDG 7.631% ENPH 6.403% Quote of the Day The labor market’s resilience is the main reason consumers continue to spend and as long as that’s the case, inflation is likely to remain sticky. The Fed is going to need to raise rates higher – and hold them higher for longer – than people currently expect and this is going to cause markets to go through some significant volatility as stock and bond markets are priced for benign scenarios and not the more difficult one that we are headed towards. - Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, on why the strong labor market is helping to keep consumer spending strong, which is also likely keeping inflation higher than it would otherwise run. Sponsored Content [FREE Ben Stein Retirement Guide]( There’s a new report just out from famed author, actor and economist Ben Stein… In this FREE REPORT, Ben reveals the lessons he learned from his late father and economist Herbert Stein. He covers… - Two critical lessons from his father about the financial crises he was forced to overcome. - How everyday Americans are currently ruining their retirements (and how they could stop the bleeding). - Plus, so much more! All you have to do is [request your Free Report today]( and a copy will be sent to your doorstep ASAP. [Click Here to Request Your Free Ben Stein Report Today!]( Not sure the best way to get started? 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