🍵Keep an Eye on the Trouble Brewing in This Market

Good morning. By historical standards, the current bear market has only seen about 75 percent of...

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. By historical standards, the current bear market has only seen about 75 percent of the drop relative to the average. That's good… unless there's more downside. Chances are there will be. The past few weeks has seen some strong rallies in stocks, but it's also seen some signs of strain. One area in particular is the credit market. Big banks reported decent earnings overall, but a few are looking to deleverage and raise capital right now. Credit Suisse (CS) is one of them, with the potential to raise nearly $2 billion (on its $12 billion market cap). If we see Credit Suisse or a similarly-sized international bank get into trouble, we could see another downdraft in stocks… but also a central bank bailout which may signal that the end of the current rate hiking cycle is near. The next few weeks are likely to see heightened volatility. So traders should remain cautious. Now here's the rest of the news: Sponsored Content Market Wizard Who Accurately Predicted 2022 Market Collapse Has Shocking New Forecast He predicted the 2020 crash a month before it happened… He predicted this year's collapse back in January… And now, he's issuing a brand-new warning – along with a unique solution. Details here. MARKETS DOW 30,523.80 +1.12% S&P 3,719.98 +1.14% NASDAQ 10,772.40 +0.90% *As of market close • Stocks continued higher on Tuesday, adding to Monday's gains. • Oil dipped 2.8 percent, closing at $83.09 per barrel. • Gold dropped 0.5 percent, last going for about $1,656 per ounce. • Cryptocurrencies traded mixed, with Bitcoin at $19,211 at the stock market close. Today's TOP TIPS Follow Growth for Great Returns – Even If It Means Patience Now Companies can't control what the stock market is doing. That's why great companies will sell off in a bear market along with poor ones. It also means that companies facing strong growth may continue to do so, even if the market doesn't recognize the value in the short haul. Patient investors can use bear markets to buy into growth opportunities. It's also a great time to weed out companies that looked like growth opportunities but haven't been. » FULL STORY Insider Trading Report: Veris Residential Inc (VRE) Akiva Katz, a director at Veris Residential Inc (VRE), recently bought 376,101 shares. The buy increased the director's stake by 7.6 percent, and came to a total cost of just over $4.36 million. The director previously bought 725,000 shares last week as well, at a total cost of over $8.2 million. And the company's CEO bought 86,530 shares last week, paying out just under $1 million to do so. Insiders have only been buyers over the past three years. » FULL STORY Unusual Options Activity: Snap (SNAP) Shares of social media company Snap (SNAP) are down 86 percent over the past year. One trader sees room fur a further decline in the months ahead. That's based on the March 17, 2023 $6 puts. With 149 days until expiration, 5,656 contracts traded compared to a prior open interest of 293, for a 19-fold rise in volume on the trade. The buyer of the puts paid $0.49 to make the bearish bet. » FULL STORY IN OTHER NEWS • Homebuyer Sentiment Drops Again Homebuilder sentiment dropped to 38 in October, an 8-point drop from September's read of 36. This index is constructed around 50 as a sign of bullish sentiment, and a reading under 50 as bearish. The read is now just half of what it was six months ago. The big swing has occurred as 30-year fixed rate mortgages closed in on 7 percent, up from 3 percent at the start of the year. • France Sees Nationwide Strikes A number of unions in France called for a nationwide strike, following up on a refineries strike that's lasted for several weeks and has resulted in fuel shortages. A number of workers such as energy employees and teachers are asking for higher salaries to contend with higher living costs. The strike has caused a number of train services to be shut down. • Investors Look for Deals in Southwest Florida Investors are looking for home deals in southwest Florida, after the area near Naples was directly impacted by Hurricane Ian, which landed on the coast as a Category 4 storm. Home prices have risen substantially in the area in recent years, as the area and state have seen a tremendous population boom. • Microsoft Announces Job Cuts Tech firm Microsoft (MSFT) is looking to cut about 1,000 jobs across multiple divisions. The news was announced to workers on Monday. The company joins a number of big tech firms that have had to announce layoffs or hiring freezes in recent months. • Jasper Raises $125 Million at $1.7 Billion Valuation Jasper, an AI content platform capable of generating content for social media posts and blogs, has raised its first capital, collecting $125 million at a $1.7 billion valuation. The company is in the process of buying Outwrite, a grammar and style checker, with the eye towards unifying the company's platform next year. S&P 500 MOVERS TOP CCL 11.004% NCLH 8.839% LMT 8.585% RCL 7.692% LHX 5.694% BOTTOM MRNA 3.749% HAS 3.131% TFC 2.678% DXCM 2.577% INTC 2.214% Quote of the Day Despite the fact that secular trend seems to be down in terms of earnings ... there haven't been any real negative surprises in bank reporting. Now that we are going to start getting into negative reporting over the next couple of weeks, that will tell us whether this rally can be sustained for awhile… Given the fact that people are so pessimistic right now, having companies hit their numbers and not lower [guidance] dramatically could be all that's needed for markets to rally for awhile. - Wayne Wicker, CIO of MissionSquare Retirement, on the strong start to earnings season by the banks, and why markets may rally from their pessimistic levels if investors don't see any big misses in other sectors of the market. Sponsored Content Market Wizard Who Accurately Predicted 2022 Market Collapse Has Shocking New Forecast He predicted the 2020 crash a month before it happened… He predicted this year's collapse back in January… And now, he's issuing a brand-new warning – along with a unique solution. Details here. Not sure the best way to get started? 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