Markets closed higher yesterday as some good earnings softened sentiment for a bit. Futures are sliding as we are heading for a losing week. Bitcoin (BTC) is at $ 23k.
Today we are expecting January's Personal Consumption Expenditures (PCE). The Federal Reserve's preferred measure of inflation. Higher rates are most definitely on the table.
Dominos Pizza (DPZ) dipped 12% yesterday after reporting disappointing sales. Pappa Johns (PZZA) reported similar results. The pizza hype the pandemic brought seems to be over. One of the issues reported was the lack of delivery drivers. I'm guessing Doordash (DASH) has some impact on that as delivery drivers can maximize income as a door dash independent contractor instead of driving for one restaurant.
Stocks to Watch
Nvidia (NVDA) delivered on earnings and the stock popped 14% yesterday, riding the newly ignited AI hype. NVDA has been at the forefront of AI for a long time and that was always the reason to own it, it is still true.
Block (SQ) gains after reporting better-than-expected revenue but misses earnings. The stock received a double price raise. This is a difficult one to own because prospects are hard to figure out. I think Block technology could be a great acquisition for someone like Apple (AAPL) or Amazon (AMZN).
Happy Investing,
The Punkrock Capitalist
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