😤Will We See Job Market Turmoil Soon?

Good morning. The job market has held up well in the past year, as the Federal Reserve has raised...

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. The job market has held up well in the past year, as the Federal Reserve has raised interest rates at its fastest pace in 40 years. However, that trend is showing signs of buckling. Hiring is down about 21 percent compared to a year ago, based on the most recent data. That could be a sign that the job market will start to show signs of weakness, and that unemployment will rise from here. While that could be good for ensuring inflation doesn't tick up again, it does also raise the possibility of a recession. So far the data is showing an economic slowdown, but not the "hard landing" that many feared last year. Traders should still be cautious, and weigh the job market against other pieces of data out there today. Now here's the rest of the news: Sponsored Content Get SIX Free A.I. Stock Trend Alerts Every Week? YES > Are you tired of the constant struggle to stay ahead of market trends and make profitable trades? We understand the challenges faced by traders like you, and that's why we are thrilled to introduce you to TraderGPS - a user-friendly tool fueled by artificial intelligence (A.I.) that will transform your trading experience. TraderGPS delivers six free A.I. stock trend alerts directly to your smartphone every week, enabling you to make informed decisions with confidence. And the best part? It's completely free! Send me The Free A.I. Scanned Stock Alerts > MARKETS DOW 34,395.14 +0.14% S&P 4,510.04 +0.85% NASDAQ 14,138.57 +1.58% *As of market close • Markets continued higher on Thursday, adding to gains for the week. • Oil jumped 2.0 percent, closing at $77.28 per barrel. • Gold rose 0.2 percent, last going for $1,965 per ounce. • Cryptocurrencies jumped higher, with bitcoin at $31,562 at the stock market close. Today's TOP TIPS Invest With Companies Building Smart Partnerships Companies regularly announce all sorts of partnerships. Most are fairly humdrum affairs, and are hardly worth the ink spilled in a press release. But a big partnership that has the potential to create billions of dollars in value is rarer. When that happens, it may be prudent to look at that partnership, and determine which company is the better buy now. Sometimes, it may even be both. » FULL STORY Insider Activity Report: Domo (DOMO) David Daniel, a director at Domo (DOMO), recently bought 26,400 shares. The buy increased his holdings by 19 percent, and came to a total cost of $357,580. This is the director's third buy of the year, followed by a buy in May and April. The company CFO picked up 5,000 shares, paying about $70,000 back in April, and the company's CEO bought 429,810 shares in March.  There has been one small insider sale in the past month. » FULL STORY Unusual Options Activity: Marathon Digital Holdings (MARA) Digital asset company Marathon Digital Holdings (MARA) has risen nearly 70 percent in recent weeks on news that the SEC may approve a bitcoin ETF. One trader is betting shares will give back some of their recent gains in the coming weeks. That's based on the August $18 puts. With 36 days until expiration, 8,144 contracts traded compared to a prior open interest of 148, for a 55-fold rise in volume on the trade. The buyer of the puts paid $3.10 to make the bearish bet. » FULL STORY IN OTHER NEWS • SEC Votes to Shore Up Money Market Funds The United States Securities and Exchange Commission (SEC) has changed rules regarding money market funds for the third time in 15 years. The rule changes are designed to prevent bailouts in times of turmoil, by making the funds more resilient, liquid, and transparent. • Disney Extends Iger's Contract Through 2026 The Walt Disney Company (DIS) has extended the contract of CEO Robert Iger through 2026. Iger initially retired in 2020, but came back to the media giant following a slowdown in the company's business. The company is currently contending with a slowdown in streaming subscriptions as well as a decline in theme park attendance. • Musk Announces New AI Company Billionaire Elon Musk has announced the formation of a new company. Named xAI, it's designed to take advantage of the current interest in AI and compete directly with ChatGPT. The company is also designed to fit in with Musk's other holdings, including Twitter and Tesla Motors (TSLA). • Prime Day Event Looks Strong for Amazon Early data indicates that Prime Day will be strong for Amazon (AMZN). The two-day event looks to get inflation-weary shoppers to spend, based on the prospect of deep discounts. The first day of the sale showed a 6 percent increase in online sales to $6.4 billion, according to Adobe Analytics. Amazon has been hosting the event since 2015. • Lucid Misses on Sales Expectations EV startup Lucid Group (LCID) reported the delivery of 1,404 of its Air sedans in the second quarter of the year. Expectations were for about 600 more vehicles. And the company only built 2,173 vehicles in the second quarter, a decrease of 2,314 in the first quarter of the year. S&P 500 MOVERS TOP EPAM 5.377% GOOGL 4.688% NVDA 4.61% GOOG 4.397% MGM 4.176% BOTTOM PGR 12.808% LUV 3.748% FAST 3.278% ALK 2.876% BBWI 2.574% Quote of the Day I think it's a good report. Inflation is going the way that the Federal Reserve wants it to go. But I don't think we're ready to say that they're going to be able to cut rates. There's still three areas of the inflation that the Fed's looking at very closely — service inflation, wage inflation and housing inflation. All three of those things, while they are moderating, are still uncomfortably high. - Megan Horneman, chief investment officer at Verdence Capital Advisors, on Wednesday's inflation read, which is a good headline number, but overlooks some high levels of inflation in specific parts of the economy that still need time to cool. Sponsored Content Will Bitcoin Ascend Even More in July? As the Feds paused interest-rate hikes, Bitcoin has been putting up a tough fight to plow through resistance. We called the (BTC) trend reversal last month in advance, and Bitcoin saw gains of over 17% since. The best part? 2023 isn't our first rodeo – we've been forecasting cryptos for years. But it's only helpful if you know – in advance – when to get in and when to get out. And that's how we can help you. Click HERE to learn how for FREE in this Live A.I. 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