Market Update Newsletter 2/14/23

Markets closed higher yesterday as all indexes close over 1% up. Futures are on the rise but mostly flat. Bitcoin (BTC) is sitting at $21.7k.

January CPI report was released yesterday, inflation is still on the rise faster than expected. Currently, annual inflation rate is 6.4%. This means that the Fed might need to do "more".

Interesting earnings today include Airbnb (ABNB) and Burger King's parent company Restaurant Brands (QSR)

Palantir (PLTR) becomes profitable as the company reveals in its recent quarterly earnings. The stock receives a price target raise and a reduction by Mizuho and Goldman Sachs respectively, and many will surely follow. The stock popped by 16%.

Ford (F) says they will produce 2 million electric vehicles annually by late 2026. The current capicity is up to 600,000 per year. Tesla's 2022 production is about 1.3 million. The company also announced another round of layoffs, this time in Europe.

Stocks to Watch

Carrier (CARR) receives a price target raise.

Coca Cola (KO) beats revenue for the last quarter and the stock is up.

Palo Alto Network (PANW) is initiated with a BUY from Goldman Sachs with a 20% upside.

Happy Investing,

The Punkrock Capitalist