Daily Visual: Change in the Share of US Workers who are Women
Daily Visual: Change in the Share of US Workers who are Women Source: Axios
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Heatmap Wed 8th March 2023 - Powell potential for 50-75 BPS
Today’s issue covers economic updates and Powell’s second day of testimony, what spoiled United Foods’ profits, and which software stock is on the move after hours. 📰 Check out today’s heat map: 7 of 11 sectors closed green. Real estate (+1.36%) led, and energy (-1.03%) lagged. 💚 Wireless surveillance camera maker Arlo Technologies jumped 50% after revenue topped expectations. 📸 Personal styling service Stitch Fix fell 11% after reporting a wider-than-expected quarterly loss but reversed sharply to close flat. 🧥
Nuclear Power is coming back
It's the cleanest, safest source of energy in the world. Which is why it's in greater demand than EVER before in history... In fact, right now, there's 54 new power plants under construction that will use this asset. And another 100 in planning stages: Yet, even with this incredible demand... supply simply can't keep up.
Triple Barrel 2023
The stock market initially rallied after the Triple Barrel buy signal was triggered in mid-January. Then, it suffered a ~6% pullback in February. It bottomed in early March and is now rebounding from that selloff. This is buying time. This is typically when stocks bottom after a Double or Triple Barrel buy signal – about two months later and following a ~6% pullback. History says that from here, stocks will rally anywhere from ~10% to ~40% into January 2024. Of course, if the stock market soars that much in 2023, certain individual stocks will rally much more than that. For example, the S&P 500 is up only 5% so far in 2023. Yet, already this year, 125 different stocks have doubled. About 30 stocks have already tripled. Around 13 have already quadrupled. And a half dozen have already risen more than 5X. That’s all in just two months, in a market that’s up 5%. Imagine how many stocks will double, triple, quadruple, and quintuple over the next...
HeatMap Tues 8th March 2023 - a sea of red
The Federal Reserve’s semiannual monetary policy report to Congress kicked off today, and Powell’s statements sent the market into a tailspin. Let’s recap what you missed. 👀 Today’s issue covers Powell’s hawkish testimony, several names that bucked the selling trend, and more from the day. 📰 Check out today’s heat map: Every sector closed red. Consumer staples (-0.99%) led, and financials (-2.58%) lagged. 🔻 WW International shares rose 79% after positive earnings and its pivot into the prescription weight loss drug business. 💊
Gold price waiting to spike
The gold futures chart is due for an update as it has reached a significant point in the current retracement following its recent peak at $1,975. The gold futures price had been steadily rising for three months from the start of November until the beginning of February, where it reached a top of $1,975. However, the market was hit when the “Jobs Report Dropped A Bombshell On The Markets” , which caused a significant drop in the value of many assets, including gold. The recent price action in gold futures has been notable, marked by a sudden drop of $100 at the beginning followed by a slower decline in pace as the price retraced almost 50% and hit $1,811 by the end of February. The question is whether this loss of half of the preceding rally is enough to consider the current bounce as a reversal.
