🤐Market Rally Muted as “Higher For Longer” Confirmed

Good morning. Friday's jobs data showed that the labor market remained strong in December...

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. Friday's jobs data showed that the labor market remained strong in December, picking up 216,000 jobs. While some of those jobs are seasonal, the low unemployment rate suggests that markets may have gotten ahead of itself in the past few months. Investors have been pricing in over six rate cuts this year. Now, with a rate cut in the first quarter likely out of question barring a crisis, rates are back in the "higher for longer" mode that prevailed during the fall. The likely outcome is that the stock market will slow down from here. It may see a short-term drop in the next few weeks, or wait until later in the spring to decline. Either way, investors should expect a slower pace of market returns this year compared to the past few months. And traders should continue to look for downside opportunities following the recent stock rally in the coming weeks. Now here's the rest of the news: Sponsored Content See An-E's stock price predictions of TSLA, NVDA, and AAPL One of the world's top financial tech companies recently launched a breakthrough, new A.I. stock predictive system called An-E (pronounced Annie, short for Analytical Engine). They tested it by tasking it with many thousands of stock predictions… and comparing its forecasts with what actually happened. And many of those predictions ended up being incredibly accurate, often times either spot on or only off a percentage or two. So TradeSmith is bringing An-E to the market, to show its capabilities to the public. Click Here to Learn More. MARKETS DOW 37,466.11 +0.07% S&P 4,697.24 +0.18% NASDAQ 14,524.07 +0.09% *As of market close • Markets closed higher on Friday, following strong jobs data. • Oil rallied 2.3 percent, closing the day at $73.86 per barrel. • Gold was flat, ending trading at $2,052 per ounce. • Cryptocurrencies trended lower, with bitcoin at $43,982 at the market close. Today's TOP TIPS Resilient Consumers May Keep this Sector Trending Higher Consumer spending shifted last year, with customers opening up their wallets to buy more services like travel and tourism. As a result, less money was available for goods. That trend looks likely to continue. And until it shifts back, spending on dining out at restaurants looks like a trend that will push even higher, even amid concerns of an overall consumer spending slowdown. » FULL STORY Insider Activity Report: Kimbell Royalty Partners (KRP) Scott Martin, a director at Kimbell Royalty Partners (KRP), recently bought 30,000 shares. The buy increased his stake by 49 percent, and came to a total cost of $460,885. This is the first insider buy since December 2022, when another company director bought 100,000 in shares. Otherwise, there have been a few insider sales, one from a third company director, and one from the company's Controller. » FULL STORY Unusual Option Activity: Fluor (FLR) Construction giant Fluor (FLR) is up 16 percent over the past year, slightly lagging the overall stock market. One trader sees shares rallying in the coming weeks. That's based on the February 16, 2024 $40 calls. With 39 days until expiration, 10,429 contracts traded compared to a prior open interest of 170, for a 61-fold rise in volume on the trade. The buyer of the calls paid $0.54 to make the bullish bet. » FULL STORY IN OTHER NEWS • Economy Creates More Jobs than Expected The U.S. economy added 216,000 jobs in December. The number came in far higher than expected, indicating that the labor market remains strong. While total jobs created remain strong, the total number of job openings continues to decline, suggesting that the labor market may show some weakness in the months ahead. • Bond Yields Tick Higher U.S. Treasury bond yields ticked higher this week, with the benchmark 10-year yield moving to 4.08 percent. The strong jobs report data on Friday indicated that interest rates would likely stay higher for longer, after markets have spent the past few weeks pricing in a hefty round of interest rate cuts this year. • Inflation Accelerates in Europe Consumer price inflation in the Eurozone rose to 2.9 percent in December, an increase from the 2.4 percent read in November. That's the first increase in the annual inflation rate for the Eurozone since April 2023. The rise came from a number of factors, particularly rising food and services prices, offsetting a slight drop in energy prices. • Netflix Looks to Profit from Video Games Streaming giant Netflix (NFLX) is looking to make money from video games. Currently, the company's video game offerings are free with a subscription to the platform. The ideas include charging extra for some games, as well as incorporating in-game ads and purchases. • Fisker Struggles with Sales EV startup company Fisker (FSR) has failed to meet its sales targets of selling between 100-200 vehicles per day in North America. On average, Fisker sold 1-24 of its vehicles per day. The company is expanding to other markets, and is looking to partner up with dealerships, rather than rely on its direct-sales-only model. S&P 500 MOVERS TOP CTLT 4.925% LUV 3.849% AAL 3.82% VTRS 3.593% SYF 3.472% BOTTOM NTES 4.673% MSCI 3.764% ENPH 2.244% VRSK 1.971% HUM 1.818% Quote of the Day The evidence points to a hangover from year end hedge fund repositioning supporting our 2024 risk aversion bias. - Christopher Harvey, analyst at Wells Fargo, on how a bullish rally to end 2023 and repositioning is starting to lead to last week's poor start to 2024. Sponsored Content See An-E's stock price predictions of TSLA, NVDA, and AAPL One of the world's top financial tech companies recently launched a breakthrough, new A.I. stock predictive system called An-E (pronounced Annie, short for Analytical Engine). They tested it by tasking it with many thousands of stock predictions… and comparing its forecasts with what actually happened. And many of those predictions ended up being incredibly accurate, often times either spot on or only off a percentage or two. So TradeSmith is bringing An-E to the market, to show its capabilities to the public. Click Here to Learn More. 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. It's our passion to build a strong community centered around fun and mindset! We love to discover extraordinary and useful tools and share them with the world! 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