Posted March 06, 2023
By Ray Blanco
Sideways Action Ahead of a Busy Week
Although the broad market opened higher today, we ended up only getting more sideways action as investors prepare for the busy week ahead.
Looking ahead, investors will likely be keeping an eye on Jerome Powell's two-day biannual monetary policy testimony on Capitol Hill, which kicks off tomorrow.
Additionally, we’ll be getting another job report on Friday.
Right now, the February jobs report is expected to show 215,000 new jobs have been added to the economy, according to economist estimates.
That would signal a slower pace from the big numbers put up in January with around 517,000 new jobs.
Surely, this will give a little bit of insight into the labor market which is something I’ve been paying a lot of attention to since labor-saving automation appears to be a big theme this year.
I firmly believe that automation will play a huge role in the future of the technology world alongside the massively popular AI trend.
In fact, these two trends will move forward side-by-side. Advancements in AI will lead to advancements in automation and vice-versa.
These technologies will transform the businesses that adopt them and will further contribute to economic growth with contributions to productivity, efficiency, and more.
They will also help address “moonshot” societal challenges in areas from health to climate change.
And now that the public eye has caught sight of these trends, there are more and more market opportunities presenting themselves everywhere you look.
Sure enough, this is a topic I plan to continue covering for the foreseeable future, so be sure to keep an eye on your inbox!
With that, read below for everything I have my eye on this week…
How America’s New ‘Battery Belt’ Is Shifting the Auto Industry South
Thousands of jobs are being redistributed as factories are moving away from the Great Lakes. Read more…
Tesla Cuts Prices of Models X and S in Attempt to Boost Demand
CEO Elon Musk suggests price adjustments fuel buyer interest. Read more…
Global Chip Making Giant TSMC Plans to Hire 6,000 Employees This Year
Semiconductor giant TSMC plans to add more than 6,000 jobs this year, despite a broader slowdown in demand for chips. Read more…
Twitter Hit With One of the Biggest Outages Since Elon Musk Took Over
Twitter’s website was inaccessible for many users on Monday while others reported issues seeing photos and clicking through links in the app, marking one of the most wide-ranging service disruptions to date under new owner Elon Musk. Read more…
Roblox’s Revenue Rose in 2022 Despite Tech, Gaming Downturns
But its losses got bigger, too. Read more…