Monday, January 1, 2024

😠Expect this Asset to Get More Volatile in 2024

Good morning, and Happy New Year! While most asset classes moved higher in 2023, reversing their...
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, and Happy New Year! While most asset classes moved higher in 2023, reversing their 2022 declines, oil and energy in general were an outlier for the markets. Going from $85 at the start of the year to expectations of topping $100 over the summer, instead prices slumped to end in the low-$70 range.

This year, more volatility is likely. The OPEC cartel has continued to tighten production. And the U.S. sold off considerable amounts of its strategic petroleum reserves. Both of those trends could change this year.

Traders and investors alike can look for opportunities in the energy space that aren't as overbought as the rest of the market right now. For investors, major oil companies and pipelines paying big dividends could do well here. Traders and growth-oriented investors can look into solar stocks, which are finally starting to show some signs of life.

Now here's the rest of the news:

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MARKETS
DOW 37,689.54 -0.05%
S&P 4,769.83 -0.28%
NASDAQ 15,011.35 -0.56%
*As of market close
Markets trended lower on Friday, but still ended the week, month, and year higher.
Oil dropped 0.5 percent, closing at $71.42 per barrel.
Gold slid 0.5 percent, ending trading at $2,073 per ounce.
Cryptocurrencies generally declined, with bitcoin at $42,065 at the stock market close.

Today's TOP TIPS
Investors Are Already Targeting This Winning Theme for 2024
While 2023 was the year of AI, the new year brings the opportunity for a new investment idea to take the lead. One potential leader this year is the cryptocurrency space. 2023 ended with the view that the SEC would soon approve a bitcoin ETF.

Add in this year's halving activity, and there could be a massive supply shock that sends bitcoin prices soaring. And where bitcoin goes, other cryptos will follow. That's why many cryptos soared in the final weeks of last year.

» FULL STORY

Insider Activity Report: FedEx (FDX)
Amy Lane, a director at FedEx (FDX), recently bought 200 shares. The buy increased her holdings by 6 percent, and came to a total cost of $50,643.

This is the first insider buy at FedEx since April, when another company director bought 1,080 shares, paying just over $249,000. Otherwise, a few company insiders have been sellers over the past year, entirely following the exercise of stock options.

» FULL STORY

Unusual Options Activity: Hilton Worldwide Holdings (HLT)
Hotel owner and operator Hilton Worldwide Holdings (HLT) rose 44 percent in 2023, amid a strong demand for travel and tourism. One trader sees shares continuing to trend higher in the first quarter of 2024.

That's based on the April $175 calls. With 109 days until expiration, 16,003 contracts traded compared to a prior open interest of 270, for a 59-fold rise in volume on the options trade. The buyer of the calls paid $14.70 to make the bullish bet.

» FULL STORY

IN OTHER NEWS
Mortgage Rates Continue Their Slide

Rates for a 30-year fixed-rate mortgage slid to 6.61 percent in the last week of 2023, a decrease over the prior week, and the lowest level since May. Interest rates peaked in late October near 8 percent, a 15-year high, before starting their recent pullback. Declining interest rates later this year could lead to further declines in mortgage rates.
Chinese Banks Cut Deposit Rates

Five of China's largest banks cut deposit rates offered to savers last week. The move indicates that China's central bank will likewise cut interest rates soon. Such a move is designed to discourage savings, and encourage spending, which in turn would boost economic growth.
L'Oreal Heiress Hits $100 Billion Net Worth

Francoise Bettencourt Myers has become the first women to hit a net worth of $100 billion. The heiress to the L'Oreal fortune has seen shares rise 35 percent this year, amid a splurge in luxury product spending. Bettencourt Myers is listed as the 12th richest person on earth, according to the Bloomberg Billionaire's Index.
Boeing Urges Airlines to Inspect 737 Max

Airplane manufacturer Boeing (BA) is asking airlines to inspect 737 Max planes, looking for a "possible loose bolt" in the plane's rudder control system. Inspections for the potential defect could take up to two hours. This is the latest quality issue to impact the new jetliner model, which has become Boeing's best-seller.
India to Block Popular Crypto Exchange Sites

India's Financial Intelligence Unit has declared that nine global crypto exchanges are operating illegally in the country, as they are not in compliance with the local anti-money laundering act. The exchanges include major players Binance, Kraken, and Kucoin, among others.

S&P 500 MOVERS
TOP
BSX 2.718%
MOH 1.372%
HSY 1.266%
MCK  1.198%
KR 1.196%
BOTTOM
ALB 3.313%
WBD 2.652%
PYPL 2.647%
UBER 2.487%
BXP 2.474%

Quote of the Day
What we're seeing now is the market exhibit extreme resilience. We have every chance in the world for the market to fall and it refuses to fall in a meaningful fashion. That tells me that the bulls remain in clear control.
- Adam Sarhan, CEO of 50 Park Investments, on the market's strong performance during the holiday season, as the Santa Claus rally scenario played out perfectly, a sign that the rally may have more room to run in early 2024.

Sponsored Content
Option Strategy with 97% Accuracy in Today's Market
Image
Have you seen this man?

You're not alone. Most people have never heard of Jim Fink.

A maverick options trading strategy that has not taken a single loss this year.

In fact, it has a 97% accuracy at hitting winners over the past 8 years!

So how on earth does he do it? (especially in THIS market)

Jim has agreed to reveal his personal options technique in a rare, one-on-one interview.

In it, he shares the details of the strategy that enabled him to...
  • Quit the working world and retire early as a multi-millionaire
  • Turn potentially losing trades into winners, giving him one of the top track records I've ever seen (both on and off Wall Street)
  • Works equally well in both bear and bull markets.
You Can Access This Rare, Eye-Opening Interview Here.


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