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
ORDER PAGE
http://tinyurl.com/5f7wb6zs
NEXT PODCAST UPDATE - THURSDAY EVENING - FEB 8
https://www.howestreet.com/2024/02/stock-markets-interest-rates-gold-inflation-real-estate-autos-cannabis-mark-leibovit-wolf-richter-ross-clark-this-week-in-money/
S&P 500 Climbs To New Record Closing High Just Shy Of 5,000
After ending Tuesday's choppy trading session modestly higher, stocks showed a strong move to the upside during trading on Wednesday. The Dow and the S&P 500 set new record closing highs, with the latter reaching an intraday peak just shy of 5,000.
The major averages pulled back off their best levels going into the close but remained firmly positive. The S&P 500 climbed 40.83 points or 0.8 percent to4,995.06 and the Dow rose 156.00 points or 0.4 percent to 38,677.36, while the tech-heavy Nasdaq jumped 147.65 points or 1.0 percent to 15,756.64.
The strength on Wall Street may partly have reflected recent upward momentum, which helped stocks rally late last week despite waning optimism about the Federal Reserve cutting interest rates in March.
While CME Group's FedWatch Tool suggests the chances of March rate cut are just 18.5 percent, the Fed is still expected to begin lowering rates sometime in the coming months.
Recent upbeat economic data has seemingly reduced the likelihood of a near-term rate cut but a strong economy is still seen as a net positive for stocks.
A positive reaction to some of the latest earnings news also contributed to notable advance seen over the course of the session.
Share of Enphase Energy (ENPH) soared by 16.9 percent after the solar inverter maker reported weaker than expected fourth quarter revenues but said it expects demand to improve throughout 2024.
Auto giant Ford (F) also surged by 6.1 percent after reporting better than expected fourth quarter results, providing upbeat guidance for 2024 and announcing a supplemental dividend of 18 cents per share.
On the other hand, shares of Snap (SNAP) plummeted by 34.6 percent after the Snapchat parent reported mixed fourth quarter results and forecast first quarter sales below analyst estimates.
"We're hip deep in company earnings and so far investors have been somewhat relieved that for the most part the news has been pretty positive in a season that had a big question mark hanging over it," said Danni Hewson, head of financial analysis at AJ Bell.
In U.S. economic news, the Commerce Department released a report showing the U.S. trade deficit widened in the month of December.
The Commerce Department said the trade deficit increased to $62.2 billion in December from a revised $61.9 billion in November.
Economists had expected the trade deficit to narrow to $62.2 billion from the $63.2 billion originally reported for the previous month.
Sector News
Software stocks turned in some of the market's best performances on the day, driving the Dow Jones U.S. Software Index up by 1.9 percent to a record closing high.
Significant strength was also visible among semiconductor stocks, as reflected by the 1.6 percent gain posted by the Philadelphia Semiconductor Index.
Steel and housing stocks also saw considerable strength, while biotechnology stocks showed a notable move to the downside.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance on Wednesday. China's Shanghai Composite Index surged by 1.4 percent, while Hong Kong's Hang Seng Index dipped by 0.3 percent and Japan's Nikkei 225 Index edged down by 0.1 percent.
Meanwhile, the major European markets all moved to the downside on the day. While the French CAC 40 Index fell by 0.4 percent, the German DAX Index and the U.K.'s FTSE 100 Index both slid by 0.7 percent.
In the bond market, treasuries showed a lack of direction over the course of the session before closing modestly lower. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 2.0 basis points to 4.110 percent.
Looking Ahead
The U.S. economic calendar remains relatively quiet on Thursday, although a report on weekly jobless claims is likely to attract attention.
Trading could also be impacted by reaction to earnings news from Disney (DIS), with the entertainment giant among the companies releasing their quarterly results after the close of today's trading.
February 10: CHINESE NEW YAR
FOMC MEETINGS 2024
MARCH 20
MAY 1
JUNE 12
JULY 31
SEPT 18
NOV 7
DEC 18
CRYPTO UPDATE AS OF FEBRUARY 7, 2024:
https://tinyurl.com/2rd9wv52
OPPORTUNITY TO ACCESS MARK LEIBOVIT'S PROPRIETARY VOLUME REVERSAL INDICATOR - THIS IS THE ONLY PLACE TO DO IT!
https://www.metastock.com/prod ucts/thirdparty/?3PC-ADD-VRIS
COME ON, DAD. IT'S TIME TO EAT
DISCLAIMER:
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 mark.vrtrader@gmail.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.