💳How to Play the Next Round of Bank Failures

Good morning. Last week saw First Republic Bancorp's shares drop anew, as the company reported...

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. Last week saw First Republic Bancorp's shares drop anew, as the company reported a drop in depositors. Going into the weekend, the 14th largest bank appeared to be moving towards being closed by the FDIC, unless it can find a buyer soon. Markets have largely shrugged off the bank's failure, but it's clear that the banking system is in a crisis. Many banks invested in Treasury bonds, which now are underwater as interest rates have jumped higher in the past year. This mismatch between assets and liabilities could hit more regional banks in the weeks and months ahead. Traders may want to look at opportunities with banks – both those to buy as a value play and those to buy put options against. Longer-term investors may want to look for value plays, but also consider using a crisis to buy one of the "too big to fail" names for a rebound when the crisis ends. Now here's the rest of the news: Sponsored Content Who Else Is Ready For Crypto's Big Move? Anybody can make predictions about crypto. Now, another major fund manager says his "crystal ball" told him just how far Bitcoin will plummet. (Hint: Below $10K according to him.) The fact is no one knows with 100% certainty. But we do know this… Every time crypto's taken a turn for the worse… It came back with a vengeance. And it just so happens that, due to my "boots on the ground"... If you want to get the facts, join me during my upcoming Live Crypto Forecast. It's free to attend, and you don't want to miss this episode. Click HERE to register for free. Clicking automatically opts you into Boardwalk Flock's newsletter (privacy policy) MARKETS DOW 34,098.16 +0.80% S&P 4,169.48 +0.83% NASDAQ 12,226.58 +0.69% *As of market close • Stocks rallied on Friday, and closed up for the week as well. • Oil rose 2.6 percent, closing at $76.68 per barrel. • Gold traded flat, at $1,998 per ounce. • Cryptocurrencies traded mixed, with Bitcoin at $29,360 at the stock market close. Today's TOP TIPS Use a Slowdown to Buy Industry Leaders at a Discount Analysts spent the first few months of 2023 warning about an earnings recession. And so far, the data suggests that it's here. Companies are slowing down overall. The good news? Analysts may have been too dour, so many companies have beaten the low expectations going into their earnings report. Nevertheless, the next few months may see the market trade sideways and see a selloff as this latest earnings season starts to slow down. » FULL STORY Insider Trading Report: Enphase Energy (ENPH) Thurman Rodgers, a director at Enphase Energy (ENPH), recently bought 27,900 shares. The buy increased his holdings by 2 percent, and came to a total cost just over $4.56 million. The buy came right after the director bought 32,900 shares, paying $5.41 million, to increase his holdings by 3 percent. They're the first insider buys at the company in over two years, as insiders have exclusively been sellers until these buys. » FULL STORY Unusual Options Activity: Uber (UBER) Ride share company Uber (UBER) is down about 5 percent over the past year. One trader sees a further move higher for shares in the coming months. That's based on the August $42.50 calls. With 108 days until expiration, 3,540 contracts traded compared to a prior open interest of 108, for a 32-fold rise in volume on the trade. The buyer of the calls paid $0.28 to make the bullish bet. » FULL STORY IN OTHER NEWS • Producer Price Inflation Slows to 4.6 Percent Producer price inflation, which looks at the costs for producers of raw materials, slowed to 4.6 percent in March. That's not as quick of a decline compared to economist expectations. PPI is the preferred inflation metric by the Federal Reserve, and indicates that the fight against inflation isn't over yet. • Worker Pay Rises in First Quarter Worker compensation in the U.S. rose by 1.2 percent in the first three months of 2023, according to the Bureau of Labor Statistics. The increase was slightly larger than expectations for a 1.1 percent increase. The increase includes both wages and benefits. The increase comes as unemployment remains near historic lows. • Oil Companies Report Strong Profits Amid Price Declines Although oil prices have dropped by more than one-third following their spike higher last year, oil companies are posting strong profits. Earnings from ExxonMobil (XOM) and Chevron (CVX) show resilience as major oil companies have focused on cash flow rather than reinvesting their profits into new discoveries. • Cloud Infrastructure Spending Grew 19 Percent in Q1 Companies spent $63 billion on cloud infrastructure spending in the first quarter of 2023, up $10 billion from the same quarter last year. That 19 percent increase is a big slowdown, as the first quarter of 2022 saw a 32 percent increase, suggesting that a cost-cutting cycle is underway for the space. • 73 Percent of Millennials Living Paycheck to Paycheck Nearly 60 percent of Americans report living paycheck to paycheck, even as wages have had their strongest growth in decades. Among millennials, the number rises to 73 percent. This age group, which ranges from 27 to 42, is hitting their peak childbearing years, while also dealing with aging parents. S&P 500 MOVERS TOP CHTR  7.18% CTLT  6.965% MHK 6.955% RMD 6.693% RCL 6.276% BOTTOM FRC 40.711% FSLR 8.96% TMUS 4.235% AMZN 3.524% KDP 3.116% Quote of the Day It doesn't take us out of an earnings recession. We're still in an earnings recession. And this calendar quarter, which we are in right now, we are going to see the most intense economic contraction and potentially the deepest earnings contraction of what will be a sequential three quarter decline. - Joseph Terranova, analyst at Virtus Investment Partners, on the overall slowdown in corporate earnings, even if those earnings have beaten analyst expectations, and why slowing earnings still point to danger for the economy in the second half of the year. Sponsored Content Who Else Is Ready For Crypto's Big Move? Anybody can make predictions about crypto. Now, another major fund manager says his "crystal ball" told him just how far Bitcoin will plummet. (Hint: Below $10K according to him.) The fact is no one knows with 100% certainty. But we do know this… Every time crypto's taken a turn for the worse… It came back with a vengeance. And it just so happens that, due to my "boots on the ground"... If you want to get the facts, join me during my upcoming Live Crypto Forecast. It's free to attend, and you don't want to miss this episode. Click HERE to register for free. Clicking automatically opts you into Boardwalk Flock's newsletter (privacy policy) 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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