💛This Sector Waves a Yellow Flag for Investors

Good morning. Friday saw several earnings reports from the big banks. Overall, most fared better...

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. Friday saw several earnings reports from the big banks. Overall, most fared better than expected, although it's still clear that there's a decline in economic activity, especially for higher-margin banking business such as mergers and acquisitions. The biggest yellow flag comes behind the headline earnings numbers. Banks are quietly boosting their loss reserves, which may continue to rise as interest rates move higher and borrowers potentially default on mortgages and automobiles. Traders should continue to look for opportunities on the short side of the market – especially after last week's strong rally. Now here's the rest of the news: Sponsored Content 2 Trading Strategies to Dominate Volatility in 2023 Are you ready to make 2023 your best trading year yet? If your answer is yes - are you using the best technology available to have a banner year? There is a group of independent traders who can forecast the stock market 1 - 3 days in advance. And they are using this tool to set themselves up with a stronger portfolio. Take advantage of this opportunity and we'll show you for free at least 4 assets you can tap into right now and how to find many more. Save your seat at our exclusive complimentary LIVE A.I. Market Training. MARKETS DOW 34,302.61 +0.33% S&P 3,999.09 +0.40% NASDAQ 11,079.16 +0.71% *As of market close • Stocks continued higher on Friday, capping off a strong week. • Oil rallied 2.1 percent, last going for $80.00 per barrel. • Gold rose 1.3 percent, ending at $1,924 per ounce. • Cryptocurrencies rose, with bitcoin trading at $19,459 at the market close. Today's TOP TIPS In Time, This Hyper-Growth Trend Will Continue… Look for Top Investments Now The stock market is not the economy. However, many trends can play out with exaggerated moves both up and down in the stock market. That's especially true with tech trends. While technology continues to transform, how investors view the investment opportunities can rapidly change. That can create times when it's wise to step aside, as values are too high. At other times, it may make sense to buy, even when things look ugly. That latter case may be playing out today… » FULL STORY Insider Trading Report: B. Riley Financial (RILY) Randall Paulson, a director at B. Riley Financial (RILY), recently added 20,000 shares. The buy increased his holdings by 8 percent, and came to a total cost of just over $744,000. That adds to other insider buys over the past year, including the company Co-CEO, who last bought over 26,500 shares in late December. Overall, insiders have been substantial buyers over the past two years, with the last insider sale occurring back in May 2022. » FULL STORY Unusual Options Activity: Colgate-Palmolive Company (CL) Shares of consumer goods company Colgate-Palmolive Company (CL) lost 7 percent over the past year, declining about half as much as the S&P 500. One trader sees a further decline in the months ahead. That's based on the May $62.50 puts. With 122 days until expiration, 8,317 contracts traded compared to a prior open interest of 257, for a 32-fold rise in volume on the trade. The buyer of the puts paid $0.33 to make the bearish bet. » FULL STORY IN OTHER NEWS • JPMorgan Warns on Mild Recession JPMorgan Chase (JPM) has warned that the US is likely going to enter into a mild recession. The news came as the company released its latest quarterly report, showing a 6 percent increase in profits thanks to higher interest rates in its core lending business. • Apple CEO Faces Pay Cut Tim Cook, CEO of Apple (APPL), faces a 40 percent pay cut for 2022. About three quarters of Cook's compensation is tied up in the performance of Apple shares, which fell nearly 30 percent last year. Cook will still earn nearly $49 million, down from $99.4 million in 2021. • Crypto.com to Lay Off 20 Percent of Staff Cryptocurrency exchange Crypto.com is looking to lay off about 20 percent of its global staff. That move could result in termination for as many as 2,000 people. The company already laid off 250 employees last year. The company sees ongoing fallout from the collapse of competitor FTX. • SkyBridge Looks to Buy Back Stake Sold to FTX Last Year SkyBridge Capital, the fund run by Anthon Scaramucci, expects to be able to buy back the stake that it sold to FTX last year. The purchase will need approval from the bankruptcy corporation, and may be subject to a change in valuation. FTX bought a 30 percent stake in SkyBridge in September. • Genesis and Gemini Face SEC Charges The Securities and Exchange Commission is going after two crypto firms for selling unregistered securities, Genesis and Gemini. The charges alleged that these firms bypassed disclosure agreements that were designed to protect individual investors. S&P 500 MOVERS TOP MELI  5.798% NTES  3.811% ILMN 3.603% WFC 3.409% EXPE 2.968% BOTTOM F 5.398% GM 5.114% DAL 3.573% DISH 3.553% GD 3.434% Quote of the Day I still think it's largely fine. I think numbers will continue to come down. The real question is where does it start to level out? That's the piece of it that should be the point of focus. It's great that CPI mechanically is coming down, and there's some good news in the report. But that doesn't mean the Fed gets close enough to its target that they get comfortable. - Greg Peters, co-chief investment officer of PGIM Fixed Income, on last week's inflation read, which is moving in the right direction but is still coming down slowly and may level out. Sponsored Content Elevate Your Trading with AI-powered Decision Making The market, like the weather on Mount Everest, can be unpredictable. The best explorers are always ready to weather any storm. That's because they already know with confidence what their plan B is. And what I'll show you today will allow you to trade with the same mentality. You should be able to have a pulse on future price action. Attend This Live A.I. Training Free to learn more. Not sure the best way to get started? 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