Futures are slightly up today. Pre-market movers include Biotech and Energy names, it seems to me the market is again in contemplation after last week's 1.5% rally.
Some concerns investors share is our "hot" economy. There are still too many jobs available and not enough joblessness. According to the numbers, Americans are not struggling enough yet, even while record inflation and prices are out of control. Tech layoffs have been plenty, but they are not affecting the majority of the US workforce (except for maybe Amazon). Until we see more of that, the fed will not stop raising interest rates. This week will kick off earnings seasons for the banks, with Citi (C), and Bank of America (BAC), amongst others. The bank earnings will give us a deeper insight into consumer spending and savings.
Stocks worth Watching
Visa (V) and Mastercard (MA) both receive upgrades, if the economy is as "hot" as the Fed thinks, we should see it reflected in these two.
Nvidia (NVDA) gains in the premarket after being named one of the top picks in 2023 for Wells Fargo. The stock lost 45% last year.
The Punkrock Capitalist
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