Financial News vs. Noise

Watch Yesterday's Episode of The Watchlist

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That was interesting. Awful start for NVDA but the market shrugged it off and I really though NVDA could go red to green. Then the bottom fell out for NVDA and the rally fizzled. So far this morning they are trying to rally it again, this time NVDA is green.

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We do have PCE today, which could be market moving if it's a surprise. Jobs next week could also be important.

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Couple of AI related names to watch today. I mentioned PSTG yesterday and on The Watchlist. It ended up closing back under the 200 day but is above it again in the pre market.

I mentioned VRT on Wednesday and this morning Eliant Capital mentioned it. Always good if we are in sync on something.

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A reader pointed out something important yesterday. Just because a theme is going to be the "thing" doesn't mean a rising tide lifts all boats. The internet bubble propelled some stocks, but others are lower than they were back then. I think AI is going to be the next "thing" but that does not mean that every related stock will benefit the same. Take INTC for example.....

Intel working with bankers to present board with strategic options-CNBC

Speaking of themes, my two favorites are AI and weight loss. This stock straddles both, but the ADRs don't really trade. Keep an eye on it if they ever do...

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The Doctor-Turned-CEO Aiming to Beat Obesity — and Ozempic-Bloomberg

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I am still concerned about the consumer.....

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From Mike O'Rourke.....

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The retailer earnings reports are making it clear that there are a number of consumers under pressure. The higher income consumers are propelling the economy forward, but the weakness is real. Dollar General shares plummeted 30% today and the management spelled it out. CEO Ted Vasos conveyed what the retailer is hearing from its customers. "The majority of them state that they feel worse off financially than they were six months ago as higher prices, softer employment levels and increased borrowing cost have negatively impacted low income consumer incentive ... While middle and higher income households are seeking value as well, they don't claim to feel the same level of pressure as low income households."

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