🤠The Market’s Expectations May Be More Bullish Than Reality

Good morning. Recent market data shows that the job market is slowing, but not fast enough to...

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. Recent market data shows that the job market is slowing, but not fast enough to justify the seven interest rate cuts expected by market participants this year. The market's view of aggressive rate cuts looks unrealistic as long as inflation is moderating, but isn't quite down to its historic lows yet. The only way to get to steep rate cuts with the current data would be if the economy sharply falls into a recession this year. That outcome isn't likely, although it is possible. Higher for longer rates likely means that stock returns will slow this year compared to last year. And that the Fed's prediction for 3 rate cuts is more likely. Traders should have plenty of opportunities to play the market's recent weakness further in the coming weeks. Investors can use market pullbacks as buying opportunities for quality, long-term buys. Now here's the rest of the news: Sponsored Content Why this new A.I. could be "ChatGPT for investments" If you've turned on the news lately, you've undoubtedly heard the world is now being swept by an A.I. Revolution sparked by the release of ChatGPT. Imagine if you had a similar program... for the stock market. TradeSmith has launched a program that does exactly that... It's an A.I. driven market forecasting system called An-E. This program can predict the price of nearly 3,000 stocks. To Learn More, Click HERE. MARKETS DOW 37,683.01 +0.58% S&P 4,763.54 +1.41% NASDAQ 14,843.77 +2.20% *As of market close • Markets jumped higher on Monday, reversing last week's drop. • Oil dropped 3.7 percent, closing the day at $71.05 per barrel. • Gold slid 0.8 percent, ending trading at $2,033 per ounce. • Cryptocurrencies jumped higher, with bitcoin at $46,727 at the market close. Today's TOP TIPS Expect Markets to Get Skeptical on AI Plays this Year After leading the market for most of last year, big-cap tech plays investing heavily in artificial intelligence (AI) may take a backseat. That could lead some to think that there was a mini-bubble in AI that is now deflating. However, that's not how bubbles work. AI is still in its early stages. And it will take years for the trend to play out. That's why the potential for a bubble exists down the line. For 2024, however, AI stocks may slow. » FULL STORY Insider Activity Report: ASA Gold & Precious Metals (ASA) Alexander Merk, COO at ASA Gold & Precious Metals (ASA), recently bought 25,549 shares. The buy increased his stake by 26 percent, and came to a total cost of $388,161. Two company directors bought shares at the same time, with purchases totaling about $40,000. Going further back, company insiders have been regular and steady buyers of shares over the last year, with no insider sales. An asset manager with a major stake has also been buying more. » FULL STORY Unusual Option Activity: Archer Daniels Midland (ADM) Agricultural producer Archer Daniels Midland (ADM) is out of favor with the market. Shares are down 16 percent over the past year, and one trader sees more downside in the months ahead. That's based on the March $65 puts. With 65 days until expiration, 6,037 contracts traded compared to a prior open interest of 158, for a 38-fold rise in volume on the trade. The buyer of the puts paid $1.10 to make the bearish bet. » FULL STORY IN OTHER NEWS • Saudi Arabia Cuts Oil Prices Saudi Arabia, one of the world's largest oil producers and exporters, cut prices. Globally, prices dropped about 3 percent. Oil trades near $70 per barrel, near a 52-week low, even as OPEC members have curbed production over the past year in a bid to keep prices higher. • Home and Auto Insurance Availability Drops Disaster-related losses in recent years have caused insurers to leave some markets, or raise prices considerably to deal with the risks. That's leading to a loss of availability for consumers, which may further drive insurance prices higher. • Boeing 737 Max 9 Flights Grounded The Federal Aviation Administration (FAA) has grounded Boeing (BA) 737 Max 9 aircraft, following an incident when a panel and window blew out of an aircraft. The grounding impacts 171 planes globally. Global airline operators have also suspended 737 Max 9 flights until inspections can be made. • Nvidia Developing China-Focused AI Chip Chipmaker Nvidia (NVDA) will start mass production of an AI chip designed for the Chinese market, in compliance with U.S. export rules. The production should begin in the second quarter. Plans for such a chip have been delayed, to resolve issues with server manufacturers integrating the chip. • SentinelOne to Acquire PingSafe for Over $100 Million AI security firm SentinelOne (S) will acquire PingSafe in a deal valued at over $100 million. The deal will be a mix of cash and stock. PingSafe is a two-year-old startup based out of India, and offers a cloud native application protection platform for cloud security. S&P 500 MOVERS TOP AAL 7.279% NVDA 6.304% ANET 6.223% AMD 5.445% FTNT 4.971% BOTTOM BA 8.056% SLB 2.941% BKR 2.932% MRO 2.604% CF 2.403% Quote of the Day The job market is looking good — perhaps too good — and maybe inflation will be running a little hotter now based on the wage growth that we're seeing. This sizzle we're getting in the job market might be pouring some cold water on hopes of a rapid string of rate cuts. - Mike Bailey, director of research at FBB Capital Partners, on why the latest jobs data will likely lead to interest rates staying higher for longer, against market expectations for a large number of interest rate cuts this year. Sponsored Content Why this new A.I. could be "ChatGPT for investments" If you've turned on the news lately, you've undoubtedly heard the world is now being swept by an A.I. Revolution sparked by the release of ChatGPT. Imagine if you had a similar program... for the stock market. TradeSmith has launched a program that does exactly that... It's an A.I. driven market forecasting system called An-E. This program can predict the price of nearly 3,000 stocks. To Learn More, Click HERE. Not sure the best way to get started? 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