Good MorningFriday's market action is a classic example of when good news is really bad news for stocks. The January Non-farm payrolls report showed a gain of more than 500,000 new jobs despite ongoing layoffs in the tech sector. This is on top of upward revisions to the already strong figures in the previous 2 months and drove another big wage increase. Wages jumped $0.21 from last month's reported figure for a more than 4.0% YOY gain. This is down from the peak but well within the range set over the last 2 years. With the NFP as strong as it is, it doesn't look like wage inflation is going anywhere but sideways anytime soon.
The market will get a reprieve from economic data this week, but the earnings onslaught continues. Another 100+ S&P 500 earnings reports are expected, and they are sure to confirm what we already know; the Q4 earnings season is worse than expected, and the outlook for 2023 is falling fast. At the current pace, the consensus estimate for 2023 S&P 500 earnings growth will hit negative territory by the end of this reporting season, which is not a catalyst for higher prices. Featured: The case for trading fewer setups, not more (Ad) 
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Technology | |
Global streaming audio platform Spotify Technology SA (NASDAQ: SPOT) stock missed top and bottom lines expectations on its fiscal Q4 2022 earnings, but Mr. Market didn’t care shares screamed higher. Spotify has an estimated 30.5% of the global music streaming market, with over 100 million so... Read the Full Story |
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From Our Partners | | Oracle runs 15,000 stocks through the same filter every single day, scanning for precise setups before the opening bell - no emotion, no guesswork.
Tim Bohen, Lead Trainer at StocksToTrade, is walking through this week's flagged setups and showing exactly how the scanner works in a live training right now. | | Watch the scanner in action and join the live training now |
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Technology | |
Every day has ushered in more and more headlines covering the AI platform ChatGPT as it becomes more and more mainstream. Artificial intelligence (AI) platforms have been around for over a decade, like International Business Machines Corp. (NYSE: IBM) AI platform Watson which launched in 2011.
Ho... Read the Full Story |
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Medical | |
Zimmer Biomet Holdings, Inc. (NYSE: ZBH) reported a beat on both the top and bottom lines when it delivered its fourth quarter 2022 earnings report on February 3. The surgical appliance and supply company delivered quarterly net sales of $1.83 billion. That was higher than the consensus forecast o... Read the Full Story |
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From Our Partners | | Every morning before the market opens, a scanner called Oracle runs through 15,000 stocks and scores the setups — so there's already a plan in place by 6:15 a.m.
Lead Trainer Tim Bohen of StocksToTrade is walking through exactly how Oracle works and how regular traders are using it in a training running right now. | | Watch the Oracle training now and see how the scanner works |
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Technology | |
Pennsylvania-based EPAM Systems Inc. (NYSE: EPAM) isn’t as well known as some of its S&P tech sector peers. Still, the infotech services provider is making a name for itself with artificial intelligence tools.
EPAM shares gapped up 7.53% on February 2, making it the tech sector’s ... Read the Full Story |
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Auto/Tires/Trucks | |
With their shares having rallied as much as 30% since the end of December, Ford Motor Company (NYSE: F) investors would have been looking forward to a strong February and potentially March. Ford shares have been stuck in a pretty defined range since last summer, bouncing off the support line for t... Read the Full Story |
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From Our Partners | | The U.S. government has taken roughly a 10% stake in Intel, negotiated a 15% cut of Nvidia and AMD chip sales to China, and reportedly received a 5% ownership offer - worth around $40 billion - from the most valuable AI company on earth.
Porter Stansberry calls it the New U.S.A.I. - a state-backed arrangement where Washington and a handful of tech giants are fused at the balance sheet. A small number of companies get pulled inside. Everyone else gets frozen out, including names sitting in your index fund right now. | | Watch the documentary to see which companies are on the right side |
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Consumer Discretionary | |
The insiders and institutions are buying Wolverine Worldwide (NYSE: WWW). The stock is trading at the lowest levels in 7 years, including the pandemic lows, offering great value and a decent yield. The latest insider activity was in December 2022 but is significant in that not 1, but 3 key insider... Read the Full Story |
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Technology | |
While the news media are understandably captivated by the most visible applications of artificial intelligence, including OpenAI’s ChatGPT bot, investors aren’t forgetting about the implications for chipmakers, including Nvidia Corporation (NASDAQ: NVDA).
Shares of Nvidia advanced 33... Read the Full Story |
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Markets | |
Bright Green Corporation (NASDAQ: BGXX) teaches investors the risk and rewards of investing in penny stocks. On February 1, BGXX stock shot up 170% after the company announced plans to raise $500 million as part of the U.S. Citizenship and Immigration Services EB-5 capital program.
However, the... Read the Full Story |
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Technology | |
If you’re still thinking of Microsoft Corporation (NASDAQ: MSFT) as a sleepy maker of productivity tools, then its massive forays into the world of artificial intelligence may surprise you.
More of its product offerings incorporate AI solutions as the company aims to grow its capabilities ... Read the Full Story |
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Markets | | If you were an active trader during the early months of 2021, you could watch the meme stock rally unfold in real time. Investors and institutions will study the events of that time for decades as immense fortunes were made (and lost) in just a few weeks. While meme stocks are fizzling out today, it... Read the Full Story |
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Monday's Early Bird Stock Of The Day Electronic Arts Inc. develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands. The company licenses its games to third parties to distribute and host its games. It markets and sells its games and services through digital distribution and retail channels, as well as directly to mass market retailers, specialty stores, and distribution arrangements. Electronic Arts Inc. was incorporated in 1982 and is headquartered in Redwood City, California. | | View Today's Stock Pick |
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