Markets with the exception of the NASDAQ ended higher yesterday. CPI data is expected tomorrow and the data will give us some insight into what the Fed might do. Bitcoin (BTC) is rallying and hit $30k overnight. The crypto move eludes my logic at the moment, I advise caution and profit-taking. Banks will begin reporting earnings on Friday, this will be very impactful.
Tesla (TSLA) announces plans for a Megapack factory in Shanghai. The Factory will build batteries. Over 60% of Teslas sales are in China, but how much can you trust the CCP? Nio and others are already close to the heels of any foreign competitor, and Chinese companies have the full backing of the Chinese government.
Interesting to note is that Meta (META), Amazons (AMZN) Twitch, and Snap (SNAP) are either limiting, cutting, or pausing the way content creators get paid. Do the companies know something we don't concerning Tiktok? Or is this part of the cost-cutting?
Stocks to Watch
Exxon (XOM) is buying Pioneer. American oil is making big moves. I am a believer.
Apple's (AAPL) computer sales fell 40% in the last quarter of last year. This is somewhat in line but greater than the PC cohort.
AMD (AMD) and Nvidia (NVDA) receive PT raises even as PC sales are waning. Lower PC demand was the reason both were sold off last year. I think demand and sales are different issues.
Mondelez (MDLZ) was raised to $77 from $75 by Morgan Stanley. Great snack collection.
Happy Investing,
The Punkrock Capitalist.
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