It’s actually something of a relief to get down to earnings.
I hate the prognosticating about what the Fed will or will not do.
Obviously it’s necessary.
Obviously, it’s one of those things that shapes coverage of the entire trading environment.
Yet there’s something dishonest about the whole thing.
There’s just something about policymakers crudely trying to manipulate the market by using interest rates – one of those classic “if all you have is a hammer, every problem looks like a nail” scenarios.
I prefer to get in close – to see what moves specific companies are making, the signals that are flashing on individual tickers, and most of all, the earnings.
And we have an incredible week coming up earnings wise – Microsoft, GE, Tesla, Visa, AT&T, and plenty more.
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This week is going to be all about options so make sure you’ve got the best on your side.
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WORD ON THE STREET
Panic! At The White House
- POTUS Classified Document Scandal Grows – Democratic Senator Dick Durbin admitted President Joe Biden has lost the moral high ground after yet more classified documents were found by the FBI in unsecure locations. He called the president’s behavior “unacceptable.” The repeated finds will make it difficult for the DOJ to press charges against former president Donald Trump, still the GOP frontrunner for 2024, without also pressing charges against the current Commander-in-Chief.
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WH Chief Of Staff Leaving – The timing isn’t that unusual, but against the background of the classified document scandal, this doesn’t look good. White House Chief of Staff Ron Klain is leaving the White House soon, according to numerous reports. His successor will be Jeff Zients, who led the president’s response to COVID-19.
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Google Employees Reel From Unexpected Layoffs – Google briefly seemed exempt from the wave of layoffs that swept through Big Tech. The key word is “briefly.” About 12,000 employees are leaving the company according to reports from Friday, and many are furious and confused. Some had just been promoted, meaning that company leadership is already on the back foot trying to justify its decisions.
- Japan Sounds Alarm On Debt Crisis – Finance Minister Shunichi Suzuki warned that his country’s finances “have increased in severity to an unprecedented degree.” He said the country will try to reach an annual budget surplus in 2026 – but Japan has missed financial targets for a decade. Japan’s debt compared to its annual economic output has the worst ratio in the developed world
HOT SPOTS: What’s Going on in Geopolitics
- Europeans Move Towards Supplying Tanks To Ukraine – While Germany is not willing to provide tanks to Ukraine, it now says it will not stop Poland from sending German made Leopard 2 battle tanks to Kyiv. France is also reportedly considering tanks as Ukraine struggles to contain Russian advances and prepare for its own counteroffensive.
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Russians Attack In Zaporizhzhia – While the Wagner paramilitary corporation continues to head up Russian efforts near Bakhmut, the conventional Russian military is finally underway on another front, this time in the Zaporizhzhia region. While there is no wide-scale breakthrough, the Russian military claims it has seized “more advantageous lines and positions.”
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RT France Shuts Down – It’s a war over media – an Info War, if you will. RT France has shut down after EU sanctions made it impossible for the Russia-based media outlet to work in the French Republic. “After five years of harassment, the authorities in power have achieved their goal – the closure of RT France,” said director Xenia Fedoro.
CUTTING EDGE: What‘s Happening In Tech
- The Way Of Winning – Avatar 2: The Way of Water had plenty of doubters when it came out – it needed to get $2 billion in box office receipts globally just to break even. Well, it did it. James Cameron has another hit, with his sequel about the world of Pandora reaching the realm of elite IP’s by cracking the $2 billion mark on Sunday.
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Thinking We’re Back Teslabros – It wasn’t long ago when people were wondering if Elon Musk had lost the plot and TSLA was going to circle the drain. However, TSLA’s price cuts now look less like a sign of desperation and more like a masterstroke. Competitors are finding themselves undercut… though the real test will come with TSLA’s earnings statement later this week.
- Activist In On Salesforce – Elliot Management Corp has reportedly invested billions in Salesforce (CRM). While the company has nothing but praise for “Marc Benioff and what he has built,” Elliot has a history of pushing for major changes.
FOR YOUR CONSIDERATION
“Despite detectable patterns and trends, the market often makes completely unpredictable moves. To be consistently profitable, you must analyze each of your losing trades.”
No one – NO ONE – can win every single time. (I mean, Chris Hood has a near 90% win rate with TRADECOMMAND but that’s still not 100%). But every loss doesn’t have to be a DEFEAT.
It’s only defeat when you give up. There’s always a lesson in failure. Chris Hood takes on a question traders must have the courage to confront – why didn’t a past trade work out?
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