😳Another Month of Sideways Markets?

Good morning. While earnings season can lead to big moves in individual stocks, some stocks see a...

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. While earnings season can lead to big moves in individual stocks, some stocks see a big gain and others see a big drop. That tends to keep the overall market from moving too far in either direction. Other data points suggest we may continue to trade sideway for a few more weeks, if not a month or more. First, U.S. tax receipts jumped higher, which pushes out the debt ceiling deadline by about a month. Second, the latest GDP data shows that while the economy is slowing, it's not near a recession yet. That's likely to keep interest rates moving slightly higher, and hopefully will help push inflation down. Traders can play a sideways market with trades both up and down on specific stocks. And investors focused on the long term can still buy many great names well under their 52-week highs right now. Now here's the rest of the news: Sponsored Content What's Now Indispensable For Modern Traders I read a headline today about how the man credited with predicting 2007's credit crash and subsequent great financial crisis said, "The worst is still ahead of us." On the surface, yes, a credit crunch could certainly tip the U.S. into recession... The Wall Street Journal even reported in March that 186 banks are in a similar condition to Silicon Valley Bank! Long story short, it's time to buckle up and prepare for some serious volatility in the markets. Or use artificial intelligence to predict market trends 1 - 3 days in advance. Learn How This A.I. 'Brain" Works FREE MARKETS DOW 33,826.16 +1.57% S&P 4,135.35 +1.96% NASDAQ 12,142.24 +2.43% *As of market close • Stocks trended higher on Thursday, following a second day of solid big-tech company earnings. • Oil rose 0.6 percent, closing at $74.76per barrel. • Gold traded flat, at $1,997 per ounce. • Cryptocurrencies moved higher, with Bitcoin at $29,685 at the stock market close. Today's TOP TIPS For Companies that Create a Network, Bigger Is Better Many technologies and economies function best due to a network effect. The larger the number of users in a network, the stronger and more robust it is. It's less likely to have a single point of failure. For investors, finding companies with a strong network effect can earn great returns. Especially when investors take advantage of a weak market to buy companies with a strong network. » FULL STORY Insider Trading Report: KeyCorp (KEY) Victor Alexander, Head of Consumer Bank at KeyCorp (KEY), recently bought 8,500 shares. The buy increased his holdings by 7 percent, and came to a total cost just over $100,555. This marks the second insider buy of the year, following the 2,000 share buy from a director back in March. Going further bank, insiders have largely been steady sellers of KeyCorp shares, with a mix of direct sales and stock option exercises. » FULL STORY Unusual Options Activity: The Charles Schwab Corporation (SCHW) Investment brokerage firm The Charles Schwab Corporation (SCHW) has lost about a quarter of its value in the past year, as slowing trading has reduced revenues. One trader sees the potential for a further decline in shares in the weeks ahead. That's based on the June 2 $40 puts. With 35 days until expiration, 12,066 contracts traded compared to a prior open interest of 216, for a 56-fold rise in volume on the trade. The buyer of the puts paid $0.32. » FULL STORY IN OTHER NEWS • GDP Growth Slows in First Quarter The U.S. economy grew at a 1.1 percent rate in the first quarter of 2023. That's far less than the 2.6 percent growth from the fourth quarter of 2022. It's also well under the expected growth rate of 1.9 percent that economists expected. • Pending Home Sales Mark First Monthly Drop Since November Pending sales for existing homes dropped 5.2 percent in March compared to February. That's the first time since November that there's been a monthly decline. The drop may have been fueled by the turbulence in the banking system during the month. • Retirees Shifting from Florida to Alabama Retirees looking for an inexpensive place to live in a sunbelt state are shifting away from Florida, which has seen a large surge in population over the past few years. Some are finding better prices for both homes and services in Alabama, which may continue to see an influx of retirees in the years ahead. • Homes In the Hampton Hit Record High While the real estate market is slowing overall, the high end of the market continues to hold up strong. The average price for a home in the Hamptons has hit a record $3 million in the first quarter of 2023. While prices are moving higher, the total deals dropped 57 percent compared to the same quarter last year, reflecting a tight market. • Dropbox Lays Off 16 Percent of Staff Cloud storage company Dropbox (DBX) has announced that it will lay off about 500 employees, or about 16 percent of its staff. The company has cited slowing growth, as many other tech companies have cited for recent layoffs. But Dropbox also noted that the rise of AI computing could also play a role in the layoffs. S&P 500 MOVERS TOP HAS  14.141% META  13.835% CMCSA 10.351% CBRA 9.458% PNR 9.405% BOTTOM ALGN 10.089% ABBV 7.435% DPZ 6.449% KDP 5.352% WTW 5.163% Quote of the Day Earnings have not been enough to catalyze the market higher. [We saw] a couple good reports out of the Big Tech names, but there was such a rally into their earnings season that I think you needed earnings to really clear a high bar to actually catalyze another leg higher. That just hasn't been the case, especially when you have other headwinds pressing down on the market. - Ross Mayfield, investment strategy analyst at Baird, on the market's lackluster trading this week as many big tech stocks reported and markets trended lower. Sponsored Content Prepared for The Next Market Tsunami? 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