THE VR FORECASTER - ANNUAL FORECAST MODEL
ORDER TODAY AND WE WILL MANUALLY EMAIL YOU THE REPORT BEFORE IT IS POSTED ON THE WEBSITE
HERE IS THE 2023 ANNUAL FORECAST MODEL WITH THE 'RESULTS' SUPERIMPOSED
U.S. Stocks Extend Thursday's Rally On Upbeat Meta, Amazon Results
Stocks moved sharply higher over the course of the trading day on Friday, extending the recovery rally seen during trading Thursday's session. The major averages more than offset the steep drop seen on Wednesday, with the Dow and the S&P
500 reaching new record closing highs.
The major averages pulled back off their best levels going into the close but remained in positive territory. The Nasdaq surged 267.31 points or 1.7 percent to 15,628.95, the S&P 500 jumped 52.42 points or 1.1 percent to 4,958.61 and the
S&P 500 climbed 134.58 points or 0.4 percent to 38,654.42.
For the week, the Nasdaq shot up by 1.1 percent, while the Dow and the S&P 500 both jumped by 1.4 percent.
The extended rally on Wall Street came amid a positive reaction to earnings news from Facebook parent Meta Platforms (META) and online retail giant Amazon (AMZN).
Shares of Meta are soared by 20.3 percent after the company reported better than expected fourth quarter results, announced its first-ever quarterly dividend and authorized a $50 billion share buyback.
Amazon also spiked by 7.9 percent after reporting fourth quarter results that exceeded analyst estimates on both the top and bottom lines.
Traders were also reacting to a closely watched report from the Labor Department showing much stronger than expected job growth in the month of January.
The Labor Department said non-farm payroll employment spiked by 353,000 jobs in January compared to economist estimates for an increase of about 180,000 jobs.
The report also showed significantly stronger than previously reported job growth in December, with employment surging by 333,000 jobs during the month compared to the jump of 216,000 jobs that had been reported.
The Labor Department also said the unemployment rate in January came in unchanged from the previous month at 3.7 percent. Economists had expected the unemployment rate to inch up to 3.8 percent.
While the data further reduces the chances of an interest cut in March, Larry Tentarelli, Chief Technical Strategist, Blue Chip Daily Trend Report, said he views a strong jobs market as a "net positive for both the economy and the stock
Retail stocks saw substantial strength on the day, with the strong jobs data generating optimism about the outlook for consumer spending.
Reflecting the strength in the retail sector, the Dow Jones U.S. Retail Index surged by 3.1 percent to its best closing level in two years.
Considerable strength was also visible among brokerage stocks, as reflected by the 1.9 percent gain posted by the NYSE Arca Broker/Dealer Index.
Software, semiconductor and airline stocks have also showed strong moves to the upside over the course of the session.
On the other hand, gold stocks pulled back sharply after rallying on Thursday, resulting in a 3.4 percent nosedive by the NYSE Arca Gold Bugs Index.
The sell-off by gold stocks came amid a notable decrease by the price of the precious metal, with gold for April delivery slumping $17.40 to $2,053.70 an ounce.
Oil service stocks also came under pressure amid a steep drop by the price of crude oil, moving significantly lower along with interest rate-sensitive commercial real estate, utilities and telecom stocks.
In overseas trading, stock markets across the Asia-Pacific region turned in yet another mixed performance on Friday. Japan's Nikkei 225 Index rose by 0.4 percent and South Korea's Kospi spiked by 2.9 percent, while China's Shanghai
Composite Index tumbled by 1.5 percent.
The major European markets also finished the day mixed. While the U.K.'s FTSE 100 Index edged down by 0.1 percent, the French CAC 40 Index inched up by 0.1 percent and the German DAX Index climbed by 0.4 percent.
In the bond market, treasuries have pulled back sharply after moving notably higher over the past several sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 18.4 basis points at
Following a week full of key economic events, the U.S. economic calendar for next week is relatively quiet. Traders are still likely to keep an eye on reports on weekly jobless claims, service sector activity and the U.S. trade deficit.
Earnings news may remain in the spotlight, however, with Caterpillar (CAT), McDonald's (MCD), Amgen (AMGN), Ford (F), Disney (DIS) and PepsiCo (PEP) among the companies due to report their quarterly results next week.
February 10: CHINESE NEW YAR
FOMC MEETINGS 2024
CRYPTO UPDATE AS OF FEBRUARY 3, 2024:
OPPORTUNITY TO ACCESS MARK LEIBOVIT'S PROPRIETARY VOLUME REVERSAL INDICATOR - THIS IS THE ONLY PLACE TO DO IT!
COME ON, DAD. IT'S TIME TO EAT
WE ARE NOT FINANCIAL ADVISORS AND DO NOT PROVIDE FINANCIAL ADVICE
The website, LeibovitVRNewsletters.com, is published by LeibovitVRNewsletters LLC.
In using LeibovitVRnewsletters.com (a/k/a LeibovitVRNewsletters LLC) you agree to these Terms & Conditions governing the use of the service. These Terms & Conditions are subject to change without notice. We are publishers and are not registered as a broker-dealer or investment adviser either with the U.S. Securities and Exchange Commission or with any state securities authority.
All stocks and ETFs discussed are HYPOTHETICAL and not actual trades whose actual execution may differ markedly from prices posted on the website and in emails. This may be due internet connectivity, quote delays, data entry errors and other market conditions. Hypothetical or simulated performance results have certain inherent limitations as to liquidity and execution among other variables. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE FORECASTING ACCURACY OR PROFITABLE TRADING RESULTS.
All investments are subject to risk, which should be considered on an individual basis before making any investment decision. We are not responsible for errors and omissions. These publications are intended solely for information and educational purposes only and the content within is not to be construed, under any circumstances, as an offer to buy or to sell or a solicitation to buy or sell or trade in any commodities or securities named within.
All commentary is provided for educational purposes only. This material is based upon information we consider reliable. However, accuracy is not guaranteed. Subscribers should always do their own investigation before investing in any security. Furthermore, you cannot be assured that your will profit or that any losses can or will be limited. It is important to know that no guarantee of any kind is implied nor possible where projections of future conditions in the markets are attempted.
Stocks and ETFs may be held by principals of LeibovitVRNewsletters LLC whose personal investment decisions including entry and exit points may differ from guidelines posted.
LeibovitVRNewsletters.com cannot and do not assess, verify or guarantee the suitability or profitability of any particular investment. You bear responsibility for your own investment research and decisions and should seek the advice of a qualified securities professional before making any investment. As an express condition of using this service and anytime after ending the service, you agree not to hold LeibovitVRNewsletters.com or any employees liable for trading losses, lost profits or other damages resulting from your use of information on the Site in any form (Web-based, email-based, or downloadable software), and you agree to indemnify and hold LeibovitVRNewsletters.com and its employees harmless from and against any and all claims, losses, liabilities, costs, and expenses (including but not limited to attorneys' fees) arising from your violation of this agreement. This paragraph is not intended to limit rights available to you or to us that may be available under the federal securities laws.
For rights, permissions, subscription and customer service, contact the publisher at email@example.com or call at 928-282-1275 or mail to 10632 N. Scottsdale Road B-426, Scottsdale, AZ 85254.
The Leibovit Volume Reversal, Volume Reversal and Leibovit VR are registered trademarks.
© Copyright 2023. All rights reserved.