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- What? We are not going to have more than 3 rate cuts? Feb 5 Stock Market Update
What? We are not going to have more than 3 rate cuts? Feb 5 Stock Market Update
$DKNG $FROG
Mukund Mohan
February 05, 2024
Market
Fed chairman Jerome Powell had a 60 minutes interview yesterday “We want to see more evidence that inflation is moving sustainably down to 2%. Our confidence is rising. We just want some more confidence before we take that very important step of beginning to cut interest rates”. 🤔
Although down, the markets recovered well from the lows of the day
This is a good market still, with a good recovery from the lows of the day. From a low of under 178 points, the NASDAQ ended the day only down 31 points.
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Technology still doing good
Nvidia rocketed up after Goldman Sachs ups target to $800. Apple and Google continued to recover.
Video of the day
Today’s video is on Adobe, $ADBE, one of the best SaaS companies with best in class gross margins and good growth
Deep dive of the day
Today’s writeup is on Luminar a LIDAR company.
Good setups for swing
DraftKings to $43 by earnings on Feb 15
FROG earnings on Feb 14th, should get to $39