P.S. As you can see with cases like Microsoft’s, we’re in a market where objective realities like structural factors or supply chains can be overcome by the whim of bureaucrats. That’s why, despite the volatility, I’m so attracted to the energy market right now.

The indicators are easier to follow, the incentives are far more straightforward… and I’ve found one surprising pick that could bring in big returns this year, even as the stock market suffers.

Click here now for the full details

COACH’S CORNER

Cheers,
Chris Hood

WORD ON THE STREET 

Americans Still Spending Like There Is No Tomorrow

• Maybe For Some, There’s Not – Even though consumer debt hit a record last week, Americans’ spending isn’t letting up. Personal spending was up by 1.8% in January and Wells Fargo economists estimated that households still have about ten months of spending power. Of course, the biggest threat to spending on the horizon would be another interest rate hike. Some analysts are baffled by the trend but in an age of uncertainty, take what you can get.

• Swiss Regulator Slams Credit Suisse – Swiss regulatory FINMA had harsh words for Credit Suisse, saying it had “seriously breached its supervisory obligations” with financier Lex Greensill. Still, the bank’s CEO put the best face on it, saying the findings were an “important step torwards final resolution,” which “underlines the importance of the actions we have taken in recent years to strengthen our Risk and Compliance culture.” It’s not over yet for Credit Suisse; FINMA reportedly opened four enforcement proceedings against former managers at the bank.

• AMC Up More Than 20% – The meme movie theater will report earnings today. The stock also benefitted from a court ruling that may restrict AMC’s ability to issue new stocks, which shareholders say will dilute the value of what they already own. AMC tried harness meme magic by issuing special “APE” shares, taking the name that retail traders had given themselves for buying and holding AMC stock, but some traders were not amused and filed suit.

• UDeSantis Conquers Disney – Disney (DIS) no longer has a self-governing district in Florida, as Governor Ron DeSantis signed legislation that allows him to appoint a five-member board to oversee government services. “Today the corporate kingdom finally comes to an end,” he said. DeSantis is widely believed to be preparing a run for president. His confrontation with Disney has been an important part of his image among conservative voters by showing he will confront so-called “Woke Capital.”

HOT SPOTS: What’s Going on in Geopolitics

• China Says Accusations It Will Supply Russia Are “Disinformation” – “On the Ukraine issue, China supports an objective and just position and actively promotes peace talks,” said Chinese Foreign Ministry spokesperson Mao Ning, denying reports that China is preparing to provide Russia with ammunition and other supplies. She said American allegations were “disinformation” and a “double standard,” considering American arms shipments to Ukraine. China has been touting its own peace plan to the war in Ukraine, though American officials say it is too favorable to Moscow.

• Turkish President Admits Problems In Earthquake Aid – Turkish President Tayyip Erdogan admitted problems in his government’s response to an earthquake, saying that “we could not work as we would have liked.” “For this, I ask forgiveness,” he said. More than 50,000 people in Turkey and Syria were killed in a major earthquake earlier this month. Several smaller earthquakes have hit the country in the weeks since.

• Ukrainian Military Leaders Visit Bakhmut – As part of an effort to boost morale and show the town is not cut off, Colonel General Oleksandr Syrskyi visited his troops in the besieged town of Bakhmut. Russian troops continue to try to encircle the town, but Ukrainian forces took back some territory in actions over the weekend. The situation remains tense.

CUTTING EDGE: What‘s Happening In Tech

• L&F Co. Signs $2.9 Billion Deal With Tesla – Tesla (TSLA) stole a march in the war for supplies in the EV market. South Korean company L&F Co will provide high-nickel cathode materials. The long-term objective for TSLA is to eventually create its own battery supply chain.

• SNAP Starts AI – It hasn’t been a great year for SNAP, so might as well hand it all over to machines. SNAP has created a new AI feature (powered by MSFT sponsored OpenAI) that will be available to Snapchat+ members. “My AI” can be yours for $3.99 a month.

• Who Will Guard The Guardians? – Sensitive information has reportedly been endangered because of a security breach at the U.S. Marshals Service. The information includes “returns from legal process, administrative information, and personally identifiable information pertaining to subjects of USMS investigations, third parties, and certain USMS employees.” The incident was reportedly due to a “ransomware and data exfiltration event” that took place on February 17.

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