Market Update Newsletter 3/2/23

Markets closed mixed yesterday with the S&P higher and the Dow Jones and NASDAQ down slightly. Futures are continuing this trend. Bitcoin (BTC) is sitting at $23k.

Mortgage applications drop to a 28-year low. Maybe the Fed's intervention is working.

Stocks to Watch

Tesla's (TSLA) investor day disappoints with no new vehicle announcements and no clear strategy to challenge the growing numbers of competitors. The stock is down 6%.

Salesforce (CRM) popped as much as 20% on strong quarters and guidance.

Snowflake (SNOW) falls after earnings beat top and bottom line expectations.

Rivian (RIVN) receives a bunch of price target cuts.

Happy Investing!

The Punkrock Capitalist