Market Update Newsletter 2/10/23

Markets closed lower yesterday after a few disappointing earnings releases. Lyft was down 30% in after-hours trading. Futures are pointing towards a lower open. Looks like the rally lost some steam. Bitcoin (BTC) is sitting at $21.8k.

Consumer goods giant Unilever (UL) reports dropping sales in the last quarter's earnings. That's another indicator that people are watching their spending, just like Chipotle's (CMG) drop in same-store sales.

General Motors (GM) links up with GlobalFoundries (GFS) for semiconductors. GM plans on having an impressive fleet of EVs within the next few years and semiconductors are a hot topic right now. The US is acknowledging China has a strong hold on the industry, but the tables could be turning. GM will help do it.

Stocks to Watch

Roku (ROKU) received a price target raise from Oppenheimer. Less Ad spending could hurt the company.

Paypal (PPYL) receives multiple raises.

Happy Investing,

The Punkrock Capitalist