Market Update Newsletter 4/12/23

Markets closed mixed yesterday. Dow was up, S&P was unchanged, and the Nasdaq was down. Bitcoin is up to $30,2k. Futures are up due to cooling CPI data.

Consumer prices rose less than expected in March. Inflation is still 5% from last year to now, but prices rose only 1% in March. Once again, this is showing the Fed's efficacy and I believe a 25-point rate hike is to be expected in May.

Stocks to Watch

Ford (F) is transitioning one of its plants in Ontario into an EV Hub. The company plans to build 2M EVs a year by 2026.

Shopify (SHOP) receives an upgrade to outperform market perform. The price target implies a 45% gain.

AbbVie (ABBV) is raised to 160 from 155 by Barclays. Great call.

Happy Investing,

The Punkrock Capitalist