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Good morning investors! Stocks moved in the right direction yesterday but Bitcoin took a major beating.

Today we cover:

• A look at jobless claims.

• What’s happening in the stock market?

• Bitcoin takes a beating.

Follow us on Twitter for more.

📊 Economy and News 

CEO exits jump while jobless claims fall

The number of Americans making first-time claims for jobless benefits saw a drop last week to levels not seen since September 2022, while CEO exits hit a new high in 2023.

The numbers: About 187,000 initial claims were filed during the week that ended January 13, down 16,000 from the previous week.

On the other hand, there were 1,914 CEO changes last year, about twice the number recorded in 2022.

This is the highest level since 2002 when Challenger, the platform that provides these numbers, started tracking these figures. The previous high was recorded in 2019 when 1,640 CEOs exited.

What does it mean? The labor market looks solid; however, with tech and other industries laying off workers things might change in 2024.

Global hits:

• Google is preparing for more layoffs following in the footsteps of Amazon.

• Red Sea attacks already a bigger issue for supply chain than the pandemic.

• U.S. executives in Davos see a Trump victory in 2024, and no cause for concern.

📈 Stocks

S&P 500 4,780.94 (+0.88%)
DJIA 37,468.61 (+0.54%)
NASDAQ 16,982.29 (+1.47%)
BRENT CRUDE 79.10 (+1.57%)
* Prices as of Jan 19th, 12:20 AM UTC

Dow shakes off 3-day slump

Tech helped the market go higher yesterday with AMD and Nvidia hitting all-time highs as investors continue to have faith in AI.

On the other hand, Taiwan Semiconductor Manufacturing Co, the world’s largest chipmaker, jumped 9.8% thanks to excellent earnings, pushing the VanEck Semiconductor ETF (SMH) 3% to reach an all-time high.

In addition, Apple and Boeing performed very well. Apple had its best day since May 5, 2023 thanks to Bank of America upgrading the stock, giving it a buy rating, and predicting a 20% upside. But, there is still trouble ahead for the company. Recent App Store rule changes have drawn criticism from critics and could cause trouble.

But, there is some good news as well. For example, the company will avoid the ban by selling the latest Apple Watches without blood oxygen feature.

Lastly, despite recent bad news, Boeing jumped after it announced new orders from India's Akasa Air. But, investors need to be careful as more bad news might come.

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🔐 Crypto

Bitcoin $41,190 (-3.66%)
Ethereum $2,461 (-2.55%)
Total market cap $1.63T (-3.05%)
* Prices as of Jan 19th, 12:20 AM UTC

Bitcoin now down about 20% from recent highs

Bitcoin briefly fell under $41,000 yesterday, nearly 20% down from the 52-week high of $49,021.87 it recorded a few days ago.

Prices have fallen despite large inflows in the new spot bitcoin ETFs that have been offset by outflows from not just from GBTC but other global bitcoin-related ETPs.

The coin, however, might bounce back soon. Experts have given it a target of $50,000 and higher for the next two months.

On the other hand, Dogecoin is now live on Flitpay, an Indian exchange. This move might set the price soaring. In addition, XRP is also expected to jump 500% to $2.8 after correction. But, an XRP ETF is not on the horizon.

However, things in Europe are looking different now that the EU and Parliament have agreed on stricter crypto firm due diligence rules.

💵 Personal Finance

Investing in commodities

Commodities are real assets that can prove to be good for investors interested in short-term investments. These typically include natural resources, such as oil, agricultural products, natural gas, and precious metals.

Commodities are considered a good option as they provide protection against inflation.

Prices of commodities depend on demand and supply and they’re not linked to public equity markets. However, let us be clear that investing in commodities doesn’t mean buying and keeping a ton of rice or barrels of oil.

You can trade futures, turn to ETFs, or try stocks of commodities producers. However, in some cases, such as precious metals, it may be more suitable to own physical commodities.

These investments do not always offer very high returns, however, they are considered secure. But, prices of some commodities, such as rice and natural gas, can be highly volatile.

Check this video for more on the commodity market:

💰 Be a Better Investor

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

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