👉This Trend Points to a BIG Economic Slowdown Ahead

Good morning. Yesterday's GDP numbers gave stocks a modest pop following a few lackluster trading...

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. Yesterday's GDP numbers gave stocks a modest pop following a few lackluster trading days. The economy grew at a reasonable pace, and inflation seems to be coming down. That points to the possibility that the US may escape a severe recession – the so-called "hard landing" that many pundits have predicted. But behind the headlines, the GDP rise came about in part due to a rise in inventories. When companies have more inventories, they often get to a point where they need to cut prices to move that inventory. Again, that's good news for inflation. But it could also be a sign that consumers are tapping out. Given how big consumer spending is for the economy, the trend is still toward a recession, but it may be steeper than the headline data looks right now. Traders can continue to profit from the market's swings. Following a strong start to the year, taking profits on long-side trades and looking for downside trades looks like a reasonable strategy. Now here's the rest of the news: Sponsored Content IRA/401(k) ALERT: Secret IRS Loophole May Change Your Life The savings of regular working class Americans could be in serious trouble. But there IS something you could do… If you're concerned (and you should be) don't wait around for something to happen — you can do something NOW. Request a copy of this FREE GUIDE that explains exactly why THOUSANDS have used this IRS Loophole to possibly save their IRA/401(k). Act now! It only takes seconds. The next step is yours, and it could mean a future of wealth… or poverty. It's up to you. All you have to do is request the free guide now. MARKETS DOW 33,949.41 +0.61% S&P 4,060.43 +1.10% NASDAQ 11,512.41 +1.76% *As of market close • Markets soared higher on Thursday, following a better-than-expected GDP number. • Oil rose 1.1 percent, closing at $81.06 per barrel. • Gold dipped 0.6 percent, going for $1,930 per ounce. • Cryptocurrencies generally rose, with Bitcoin at $23,131 at the market close. Today's TOP TIPS Scoop Up Companies Making New Highs Now When markets are running scared, it may be prudent to look at companies making new highs. Chances are there's something going on with the underlying business that explains why they're bucking the trend. And chances are that trend will continue. There are always a few companies making new 52-week highs, even in a challenging market. The past few months have also seen a rotation towards more value-oriented and defensive stocks moving higher. » FULL STORY Insider Trading Report: Old Republic Insurance (ORI) Michael Kennedy, a director at Old Republic Insurance (ORI), has been a buyer of 2,950 shares. The buy increased his holdings by 40 percent, and came to a total cost just under $68,500. Insiders have generally been buyers over the past year, with company directors picking up small sums of shares. One company executive sold 11,000 shares over the past year, receiving just over a quarter million dollars. » FULL STORY Unusual Options Activity: Abercrombie & Fitch (ANF) Retail apparel company Abercrombie & Fitch (ANF) have seen shares drop by over 20 percent in the past year. One trader is betting on more long-term pain for the company in the year ahead. That's based on the January 2024 $15 put options. With 357 days until expiration, 5,000 contracts traded compared to a prior open interest of 112, for a 44-fold rise in volume on the trade. The buyer of the puts paid $0.88 to bet on a further drop in shares. » FULL STORY IN OTHER NEWS • GDP Rose 2.9 Percent in Fourth Quarter of 2022 Gross domestic product rose at an annualized rate of 2.9 percent in the final quarter of 2022. That's slow than the 3.2 percent rate for the third quarter, but better than the negative numbers in the first two quarters of last year. The slowdown reflects slowing economic growth, and a sign that the economy may be cooling after being fueled in the past few years by excess government spending and stimulus payments. • Gas Prices Swing Higher Gasoline prices have hit a national average of $3.45 per gallon. That's the highest level in months, and a 35 cent per gallon increase in the past month alone. While not as bad as last year's jump to $5 per gallon average, prices are likely to trend higher going into the spring and summer months. • Biden Administration Unveils Renter Protection Blueprint With rent payments soaring over the past few years, the Biden administration has unveiled proposals to better protect tenants in the housing market. Multiple agencies would be responsible for ensuring that renter's rights are respected, including plans such as 30 days advance notice for terminating a lease due to nonpayment of rent. • IRS Warns Refunds May Be Lower This Year The Internal Revenue Service notes that refunds may be lower this year compared to the past few years. That's because rising wages and inflation may push more money into a higher tax bracket, and there are fewer tax breaks that were related to pandemic relief that apply for 2022. • Dell Acquires Startup Cloudify Computer company Dell (DELL) is acquiring Israeli-based startup Cloudify. Cloudify offers cloud orchestration and infrastructure automation tools to manage workloads across hybrid workplaces. Specifics of the acquisition haven't been mentioned, but Dell may have paid up to $100 million for the company. S&P 500 MOVERS TOP STX  10.289% TSLA  10.178% STLD 9.555% URI 9.366% NUE 8.087% BOTTOM SHW 9.387% MKC 5.842% NOC 4.744% IBM 4.334% RJF 3.92% Quote of the Day If the company is bearish on its own future, why should investors be bullish? That's pretty much the message we're getting from earnings season so far. - Adam Sarhan, CEO of 50 Park Investments, on why companies are seeing a selloff despite solid reports so far this earnings season, a trend that may continue given the current market pessimism. Sponsored Content IRA/401(k) ALERT: Secret IRS Loophole May Change Your Life The savings of regular working class Americans could be in serious trouble. But there IS something you could do… If you're concerned (and you should be) don't wait around for something to happen — you can do something NOW. Request a copy of this FREE GUIDE that explains exactly why THOUSANDS have used this IRS Loophole to possibly save their IRA/401(k). Act now! It only takes seconds. The next step is yours, and it could mean a future of wealth… or poverty. It's up to you. All you have to do is request the free guide now. Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income We just wanted to take a moment and say thank you so much for being part of our family! 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