Daily Advantage Newsletter

February 23, 2024

 Commentary Stock bulls remain in control after pushing all three major indexes to new all-time record highs. For those keeping track, this is the 12th record closing high for the S&P 500 this year with the index now up +6.7% in 2024. The Nasdaq’s new record closing high is its first since 2021 and puts the index up nearly +7% the first two...

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February 22, 2024

   Commentary Stock bulls will be looking to build on Nvidia’s overnight strength after the chipmaker delivered a beat on earnings. The company reported record revenue of $22 billion, a +265% increase versus last year and about +$2 billion higher than Wall Street was expecting. Tech bulls are noting the +409% growth in Nvidia's data center...

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February 21, 2024

 Commentary US investors are treading cautiously ahead of Nvidia earnings, which are due out after markets close today. There are some concerns that investors have maybe gotten “over exuberant” about Nvidia and the wider tech sector, which could bite hard if Wall Street has a negative reaction to the chipmaker’s earnings or forward guidance. Not...

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Feb 20, 2024

 Commentary Stock bulls will be looking to deepen control this week with all three indexes near record territory. For what it’s worth, the Dow and S&P 500 are just off recently set record highs but the Nasdaq hasn’t managed to set a new record since November 2021. Bulls are hoping to get a big leg up from Nvidia later this week, which reports...

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February 19.2024

 Commentary-AI Generated Good morning traders! Market dynamics have been particularly intriguing recently in the realms of finance, tech, and energy sectors. Despite the growing popularity of spot Bitcoin ETFs, ProShares is sticking to its Bitcoin Strategy ETF (BITO), which continues to command a 90% market share among Bitcoin futures funds....

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February 16, 2024

 Commentary-Standard Stock bulls pushed the S&P and Dow up to new record highs this week. Nothing has fundamentally changed regarding Federal Reserve policy since a hotter-than-expected CPI read on Tuesday led Wall Street to further dial back rate cut expectations. Most now expect a total of three or maybe four 25 basis point rate cuts...

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February 15, 2024

 Commentary-Standard Stock bulls are trying to hang onto thoughts of multiple rate cuts in 2024 by the Fed, but stronger than expected inflationary and economic data are bringing about some doubt. Retail Sales will be one of the top highlights today with economists expecting a slight dip in January following much stronger than expected December...

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