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Morning Brief: Emergency Fed Meeting

While all eyes were on the Super Bowl yesterday, the world continued its turmoil . Biden's talk with Russia were unsuccessful , to no surprise given he is the worst president we have ever had. The risk of war continues to put downward pressure on the market and currency trading becomes even more volatile , as Ukraine struggles to keep their domestic currency afloat.


The Fed tried to be sneaky , and called an emergency meeting amid the Super Bowl, which doesn't seem to bode well for hiking rates. This move comes amid rising CPI data, and I expect projections are looking to hit 8% very soon. This meeting indicates a possible 50 bps hike becoming more and more likely, which could create a more bearish trend in the market. Futures were down almost 1% on the NDX following this news, but markets continue to rebound. Keep a look out for increased volatility here, as the vix touches close to 30, followed by a huge boost on Friday.


#NVDA is set to post earnings this week, and after falling down to below 240 from the Thursday/Friday sell off, there could be some room here for a huge boost. NVDA is expected to benefit from the loss of their ARM deal, and semi-conductor stocks that posted earlier earnings, were boosted. Barring any huge fundamental market change, going long here into earnings seems to be the play.


#TSLA broke support on Friday, falling down huge amid a broad sell off. There could be a change for a rebound here today, but the new trading range has yet to show full development, with a low on Friday of ~840 being touched.


#GOLD is breaking into a huge bullish trend amidst this market uncertainty. I switched a lot of my longer term portfolio into commodities with the upcoming rate hikes late last year in 2021. We could see gold continue to swing up, especially when Russia invades. It is a good safety net to have here, and way to unload some market risk in your long term account.


UPCOMING EARNINGS:


Tuesday, February 15 : Wynn Resorts (NASDAQ:WYNN) and Roblox (NYSE:RBLX).


Wednesday, February 16 :, Shopify (NYSE:SHOP), Nvidia (NVDA), DoorDash (NYSE:DASH).


Thursday, February 17: Walmart (WMT)



 



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