🤔Fitch Kicks Off a Market Drop – Here’s What to Expect

Good morning. Fitch Ratings downgraded the U.S. on Tuesday night. Simply put, the country spends...

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. Fitch Ratings downgraded the U.S. on Tuesday night. Simply put, the country spends too much, and governance is deteriorating, with the recent debt ceiling debacle as a proof point. This marks the first credit downgrade in 12 years. Last time, stocks ended up dropping about 7 percent on the news in the span of a few weeks. If history is any guide, the market rally that's we've seen over the past few months could be in for a pause. Traders should look to take some of their most speculative trades off the table. And traders and investors alike should target companies that they want to buy on a pullback. Chances are if we get a market decline now, we'll be set up for a year-end rally that will take us close to, if not to new, all-time highs. Now here's the rest of the news: Sponsored Content Digital Dollar Could Send These Three Stocks Booming A digital dollar (or CBDC) could soon replace the U.S. dollar. Most people could end up holding worthless dollars. But a few could get rich from this new shift. You see, if you know which companies are working on these CBDC projects, you could come out of this shift wealthier than you ever thought possible. Click Here to get the names of three companies that could benefit from this trend, completely free of charge. MARKETS DOW 35,282.52 -0.98% S&P 4,513.39 -1.38% NASDAQ 13,973.45 -2.17% *As of market close • Markets sank on Wednesday, following a downgrade of the U.S. credit rating by Fitch. • Oil dropped 1.9 percent, closing at $79.84 per barrel. • Gold slid 0.4 percent, last going for $1,972 per ounce. • Cryptocurrencies generally dropped, with bitcoin at $29,129 at the stock market close. Today's TOP TIPS Use Short-Term Weakness to Buy Oligopoly Stocks Many sectors condense over time into just a few players. An oligopoly can be great for investors, as companies tend to look for ways to improve their profitability, rather than spend considerable money on expansion once there's a small and stable number of players in the market. That can lead to good investment returns. The returns can improve when investors buy during short-term market fears. That includes the opportunities hitting one company harder during earnings season compared to others. » FULL STORY Insider Activity Report: Graco (GGG) Mark Sheahan, President and CEO at Graco (GGG), recently added 1,263 shares. The buy increased his holdings by 2 percent, and came to a total cost of $99,828. This marks the first insider buy at the company in the past two years. Graco has had about two dozen insider sales in that timeframe, all following the exercise of company stock options. The sales have mostly been near where shares current trade, or at higher prices. » FULL STORY Unusual Options Activity: AGNC Investment Corp (AGNC) Mortgage REIT AGNC Investment Corp (AGNC) has dropped slightly so far this year, as interest rates continue to rise. One trader expects shares to decline even further into next year. That's based on the March 2024 $9 puts. With 225 days until expiration, 22,050 contracts traded compared to a prior open interest of 232, for a 95-fold jump in volume on the trade. The buyer of the puts paid $0.54 to make the bearish bet. » FULL STORY IN OTHER NEWS • Fitch Lowers U.S. Credit Rating Ratings agency Fitch has lowered its rating on the U.S., from a pristine AAA rating to AA+. The move led to a selloff in stocks yesterday as investors reassessed risk. While there's little chance of missed bond payments, the move does reflect today's high and rising debt. Costs to finance the federal deficit are closing in on $1 trillion per year. • ADP Data Shows More Job Gains in July The private sector added 324,000 jobs in July, according to data from payroll processing company ADP (ADP). The move was led by a 201,000 increase in the hospitality sector, which includes restaurants, bars, and hotels. Early estimates for job growth were at 175,000 for July, indicating that the labor market remains strong. • Private Equity and Hedge Funds Expect Big Changes from the SEC The Securities and Exchange Commission (SEC) is preparing a new set of rules that would bring greater transparency and competition to private pools of money such as private equity firms and hedge funds. The goal is to bring down some of the fees and expenses, as well as increase competition. Typically, these firms are only accessible to individuals with a high-net worth. • Toyota Unveils New Land Cruiser After a three-year hiatus from the U.S. market, Toyota Motors (TM) is bringing back its popular Land Cruiser SUV. The new model has a retro design, and follows the recent trend of more off-road capabilities for small truck-like SUVs. The starting price also comes in lower, at $55,000 for a base model. • Meta Open Sources Its Sound and Music Generating Models Meta Platforms (META) has announced Audiocraft, the AI framework that can be used to generate audio and music from short texts and prompts, will be available as open source. The move could increase the amount of content generated across Meta's platforms, as they look to compete with short-form video models. S&P 500 MOVERS TOP WAT 6.374% AIZ 6.098% AFL 5.643% HUM 5.282% CDW 4.65% BOTTOM GNRC 24.371% PAYC 18.933% SEDG 17.689% RXO 12.979% JCI 9.31% Quote of the Day Positive news on growth and inflation are fueling optimism for a soft-landing scenario in which inflation returns to target, providing space for DM central banks to ease. We remain skeptical of this outcome, however, anticipating the inflation decline to prove incomplete, leaving restrictive policies in place that should increase private sector vulnerabilities and end the global expansion. - Marko Kolanovic, strategist at JPMorgan Chase, on why market bulls may want to be a bit skeptical, particularly if inflation continues to run above the Fed's target rate and keeps interest rates higher for longer. Sponsored Content Digital Dollar Could Send These Three Stocks Booming A digital dollar (or CBDC) could soon replace the U.S. dollar. Most people could end up holding worthless dollars. But a few could get rich from this new shift. You see, if you know which companies are working on these CBDC projects, you could come out of this shift wealthier than you ever thought possible. Click Here to get the names of three companies that could benefit from this trend, completely free of charge. 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 Live Trading Room: Trading with Manny › 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! We are dedicated to teaching people how to make the world a better place so we can all thrive, together. We love sharing stories and featuring past learners who have applied our teachings and changed their situations. 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