Morning Market Download from Invincible Money 

Personal finance + economics + markets 

Staying on top of the markets, economics and the global issues that affect your money takes a lot of time and effort. We distill it down to a quick 5 minute read to help you make better money decisions.

New video posted about the 3 money habits I used to reach financial independence. Watch it here.

Jamie Dimon, the long-time CEO of JPMorgan, said the banking crisis is not over yet and when it does finally end there will be repercussions for years to come. However, he said this isn't a repeat of 2008 as is somewhat more positive when he said a couple months ago he saw a hurricane on the horizon.

He said in his annual shareholder letter: “Unemployment is extremely low, and wages are going up, particularly at the low end,” the executive wrote. “Even if we go into a recession, consumers would enter it in far better shape than during the great financial crisis. Finally, supply chains are recovering, businesses are pretty healthy and credit losses are extremely low.”

Treasury Sec. Yellen said that the banks are stabilizing, but regulators are ready to take extraordinary measures if needed.

EconomyAs mortgage rates slowly come down, home prices are starting to rebound and prices were up 0.16% nationally in February.

The Atlanta Fed's real GDP estimate for Q1 was lowered to 1.7%, which is the lowest since February's 0.7%. The forecast has been slowly going down from 3.5% since March 21st as more data comes in pointing to slower economic activity.

The chances the Fed hikes another 0.25% in May are still at 60%, so the market is betting they aren't done yet.

The USM (US Manufacturing) declined for the 5th straight month, as of March. It's now at its lowest level since 2020. Every component of the report came in below 50 - at 46.3, which points to contractions in every part of the economy. It was 57 a year ago, down nearly 19%.

What is the USM and why should we care?"The Purchasing Managers Index is a diffusion index summarizing economic activity in the manufacturing sector in the US. The index is based on a survey of manufacturing supply executives conducted by the Institute of Supply Management. Participants are asked to gauge activity in a number of categories like new orders, inventories, and production and these sub-indices are then combined to create the PMI. A PMI above 50 would designates an overall expansion of the manufacturing economy whereas a PMI below 50 signifies a shrinking of the manufacturing economy."

NewsA large Chinese investment bank, China Renaissance, suspended trading Monday when its CEO, Bao Fan, went missing.

You know those scooters for rent that pile up on street corners and that you trip over in some cities? Paris, France has voted 90% in favor of banning them. People argue they're dangerous as pedestrian accidents skyrocket when the scooters are introduced. There were 459 accidents last year in Paris, with 3 fatalities.

Finland becomes the 31st member of NATO as it's progressive Prime Minister, Sanna Marin (the youngest in the world at 37) loses re-election to a conservative candidate. Obviously, Russia is not happy.

Walmart cutting over 2,000 jobs in its 5 fulfillment centers in the U.S. Some workers may end up being reassigned to other jobs.

Google cutting perks like free fitness classes, laptops and even staplers in an effort to cut costs. Looks like those jobs aren't as cushy as they used to be when you have to bring your own stapler.

StocksA JPMorgan analyst stated that due to factors like rising oil prices, bank troubles and slow growth going forward, stocks are likely to trend down to their 2022 lows. He said, 

“The Fed indicated no intention to cut interest rates this year, yet risk assets are exhibiting an unprecedented rally, with European stocks trading near all-time highs and US stocks recovering recent losses. We expect a reversal in risk sentiment and the market retesting last year’s low over the coming months.”

CryptoElon being sued by a group of angry investors over his DogeCoin tweets arguing that he manipulated the price up by 36,000% and then let it crash. I'm betting they didn't mind the up part. It's the down part they take issue with.

In possibly a nod to the lawsuit, Must changed the Twitter logo to the Doge logo and Doge was up 35% at one point during the day. Dude loves to troll, even if he gets sued for it.

In the past few years, insiders at Signature Bank sold more than $100 million in shares, with more than half coming from the chairman, former CEO and his successor who quietly filing them with the FDIC rather than the SEC.

The hacker who stole $200 million from Euler Financial has returned all "recoverable funds." (whatever that means) 

Defi as a percentage of the global crypto market hit it's lowest levels since July.

Be a Better Investor

Make Money3 ways to earn money on the side:

1. Sell your photography: Sell your photos online through websites like Shutterstock, iStock, or Adobe Stock.

2. Become a virtual assistant: Offer administrative, technical, or creative assistance to individuals or businesses remotely.

3. Start a YouTube channel: Create content on YouTube and monetize your videos through advertising, sponsorships, or merchandise sales.

Legal StuffNothing in this newsletter is financial advice. Always do your own research and think for yourself.