Markets closed mixed yesterday with the NASDAQ down and DOW and S&P 500 slightly higher. Bitcoin (BTC) fell to $27k. Futures are slightly up.
Oil prices are rising due to the OPEC+ announcement that oil production will be cut by 1.6 mil Barrels a day. Energy stocks are still a buy.
JP Morgan CEO Jamie Dimon, once again, comes out to rain on everybody's parade by saying that the current crisis, started by the SVB collapse is long from being over. Dimon says that impact will be felt for years to come.
Stocks to Watch
Virgin Orbit (VORB) is freefalling as the company files for Chapter 11 bankruptcy. One of the pioneers in the Billionaire space race will lay off nearly all of its employees.
Etsy (ETSY) gets an upgrade from Piper Sandler, to Overweight from Neutral. Analysts state buyer growth will have a positive impact. The stock is up in early trading but still down 9% for the year.
Happy Investing!
The Punkrock Capitalist
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