Markets fell more than 450 points yesterday, after catching itself and closing .45% lower. Sentiment is shaky right now. Is inflation slowing fast enough? Is the consumer "healthy"?
Philadelphia Federal Reserve President Patrick Harker thinks we are done raising rates. So there is a light at the end of the tunnel. I think one more rate hike this year is coming.
American household debt has reached a fresh record high and credit card balances hit over $1 Trillion for the first time.
Stocks to Watch
Eli Lilly (LLY) might have the biggest drug ever in the pipeline. the stock jumped over 15% yesterday and is clearly hot right now. If you're not in it, you might have missed it. But price target is around $500-600, so there is still some upside.
Rivian (RIVN) receives higher PT with a narrower than expected loss for the last quarter. The company is the only hope after Ford to bring a electric pickup truck to the masses soon.
Shopify (SHOP) is down currently because it is compared to the Shopify during the pandemic, that company doest exist anymore. We live in a post pandemic world and the company is adjusting. It think it's a buy! Same with Etsy (ETSY).
Happy Investing!
The Punkrock Capitalist
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