 | | |  Good morning. The market has closed higher for 7 consecutive weeks, it's longest winning streak in a row. The market indices are back to all-time highs, although adjusted for inflation, they're not quite back to their 2021 highs. This week, stocks may finally break their uptrend, given that they're overbought after a massive multi-week rally.
However, overbought conditions can continue further. And amid the holiday cheer, a slight gain may be the most likely outcome this week. Looking to 2024, expect the market to test its inflation-adjusted highs in the spring, and then from there look for a potential pullback to test some of the price gaps made on the market's recent jumps higher. For this week, traders can expect slow moves in either direction.
Now here's the rest of the news: | | | | | | | | Worried About Making Ends Meet? It's About to Get Worse | | | | | | In the first 9 months alone… 98 companies have slashed their dividends.
For retirees, this is a living nightmare. Once solid dividend payouts are drying up… leaving investors scrambling to make ends meet.
With many of them wondering if this could spell the end of their retirement altogether.
The world is a scary place… and it's only getting worse.
But that doesn't have to be YOUR story.
There is a way out… (though I do caution you… while it has worked like a charm… not closing out a single losing trade in over 6 years… this strategy isn't for everybody).
In this exclusive presentation, you'll uncover the exact steps you need to take right now to secure your investments from the financial carnage... along with anything the markets throw at us in the future. The man behind this plan has used it for the past 20 years to rack up incredible profits… it even helped him retire after just 10 years... with a 5.3 million "nest egg" that helped him sail worry - free through every Financial Crisis and market crash since.
But don't just take my word for it.
To see what these sentences are, You can see the urgent details right here. | |
| | |  | DOW 37,306.02 | +0.00% | | | | | S&P 4,740.56 | +0.45% | | | | | NASDAQ 14,904.81 | +0.61% | | | | | *As of market close | | | • | Stocks traded higher on Monday, continuing on gains from the prior 7 weeks. | | | • | Oil rose 1.6 percent, closing at at $72.60 per barrel. | | | • | Gold moved higher 0.3 percent, ending trading at $2,041 per ounce. | | | • | Cryptocurrencies trended lower, with Bitcoin trading at $41,956 at the stock market close. | | | | | | | |
| | | It's Starting to Look Bright for This Out of Favor Sector | | | | Despite a strong market rally in the past year, some sectors haven't performed well at all. Many have even continued trending lower, even after taking a hit in 2022. Most of the market's return has been dominated by big-cap tech stocks.
But with the market starting to rotate and non-big-cap tech stocks are taking the lead, they may be a big winner in the months ahead. That includes solar energy companies, which have substantially lagged markets in 2023.
» FULL STORY | | | | |
| | Insider Activity Report: Chewy (CHWY) | | | | James Star, a director at Chewy (CHWY), recently bought 15,353 shares. The buy increased his stake by 3 percent, and came to a total cost just under $300,992.
This is the first insider buy at the company since last June, when Star made two large buys totaling nearly $10 million. Otherwise, company insiders have been regular sellers of shares over the past year, including the CFO and CEO.
» FULL STORY | | | | |
| | Unusual Options Activity: Marathon Digital Holdings (MARA) | | | | Cryptocurrency mining company Marathon Digital Holdings (MARA) is having a strong year, with shares up 360 percent. One trader is betting on a move higher in the coming weeks.
That's based on the January 12 $14 calls. With 24 days until expiration, 4,039 contracts traded compared to a prior open interest of 153, for a 26-fold rise in volume on the options trade. The buyer of the calls paid $4.80 to make the bullish bet.
» FULL STORY | | | | |
| | • | Oil Rises Amid Red Sea Tension
An escalating number of attacks on oil vessels traversing the Red Sea is leading to paused shipments. BP (BP) is the latest to be affected by the disruptions. Declining shipments out of the Middle East are leading to rising global prices. | | | | • | Homebuilder Optimism Improves
Since interest rates peaked in July, mortgage rates have been declining, and are now back under 7 percent. Homebuilders are feeling more optimistic as a result, as most home activity this year has been in new construction rather than the resale of existing homes. The most recent homebuilder index rose to 37, its first increase in four months. | | | | • | Southwest Fined $140 Million For Holiday Outage
Southwest Airlines (LUV) has reached a settlement with the Department of Transportation (DOT) for last year's holiday meltdown, which resulted in the cancellation of hundreds of flights. The airliner will pay a $140 million penalty, more than 30 times larger than any previous fine, for violating consumer protection rules. The airline is also reimbursing about $600 million for stranded travelers. | | | | • | Nippon Steel to Acquire U.S. Steel
U.S. Steel (X), the first company in the United States with a market cap of $1 billion, is being acquired 122 years later by Nippon Steel (NPSCY). U.S. Steel had been working on the sales process for months, and will create one of the world's largest steelmakers. The merger is expected to draw regulatory scrutiny, and may take time to close. | | | | • | Adobe and Figma End Merger Plans
Software giant Adobe (ADBE) is abandoning plans to acquire privately-held competitor Figma. The two companies had previously worked out a $20 billion merger offer, but strong regulatory opposition in Europe have made the possible merger unlikely. There is a $1 billion breakup fee Adobe will pay to Figma. | | |
| | | | TOP | | | ETSY | 4.685% | | | | COST | 3.403% | | | | KR | 3.219% | | | | HAS | 3.156% | | | | NFLX | 2.978% | | | | BOTTOM | | | VFC | 7.785% | | | | PARA | 4.671% | | | | ADM | 4.502% | | | | MTB | 3.944% | | | | DG | 3.001% | | | | |
| | |  | | Stocks are generally extending their gains as investors embrace the new paradigm whereby monetary policy globally finally undergoes a pivot following one of the most synchronized and aggressive tightening campaigns in history. Shares may be near-term overbought, but the evolution in policy will be a powerful tailwind for quarters to come. | | - Adam Crisafulli, analyst at Vital Knowledge, on why the stock market could have another strong year in 2024 as monetary policy eases from its current levels, although a market pullback may be in the cards in the coming days. | |
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