Posted February 06, 2023
By Ray Blanco
New Week, More Market Cool-Off
Last week was a big deal for the market…
Stocks have now officially made it through major earnings reports and a fed policy meeting generally unscathed.
In fact, all of the major indices remain in the green over the past week of trading days.
Looking ahead, it wouldn’t be far-fetched to expect some upcoming downside in certain sectors of the market.
So far, stocks have slid a bit from last Friday into today.
It’s important not to panic right now with this recent action, there are a lot of stocks out there that are reaching overextended territory.
Naturally, these names will need to consolidate to continue the move higher.
But that leaves a big question mark on many traders' minds… will we see a predictable and clean consolidation move? Or will the bulls get beaten out and pull back their buying?
Either way, in these types of market environments, it’s important to pay attention to the way stocks react.
When all is said and done, there’s a good chance that solid opportunities will present themselves and those who are ready will be able to capitalize on that.
In the longer term, there’s still plenty to be excited about in the tech world.
Perhaps the most talked about trend recently is AI, these names are seriously ripping higher right now and new developments are announced seemingly every day.
And I’ve got my finger on the AI pulse right now, of course, I’ll be sure to bring you the most important updates I can find.
With that, read below for everything I have my eye on this week…
Google Unveils its ChatGPT RivalGoogle on Monday unveiled a new chatbot tool dubbed “Bard” in an apparent bid to compete with the viral success of ChatGPT. Read more… |
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Dell to Lay Off More Than 6,500 Workers or 5% of WorkforceComputer maker’s co-operating chief says market conditions continue to erode. Read more… |
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U.S. Car Makers’ EV Plans Hinge on Made-in-America BatteriesFederal incentives are helping expand domestic battery production. Here’s what the manufacturing process looks like. Read more… |
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How Connectivity Giants are Embracing the Space RaceAT&T and Verizon are collaborating with satellite players to plug connectivity gaps. Read more… |
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The FAA Could Require Some Airlines to Upgrade to 5G-Friendly AltimetersThe proposed rule is the latest in the ongoing 5G-airline saga. Read more… |