Market Update Newsletter 5/1/23

Stocks rallied last week led by the Nasdaq. Earnings from META, MSFT, and somehow GOOG(?) helped to make investors feel a little more at ease. This week's fed decision is expected to be a quarter-point raise increase in interest rates, but every cut brings us closer to the end of cutting rates.

The "Kids Online Safety Act" is a bipartisan bill that seeks to restrict social media use to ages 18 and up. Rising cases of teenage depression and suicide are the reason for this direction.

More Fast food earnings this week will come from Pappa Johns (PZZA), Yum Brands (YUM), and others. Fast-food restaurants have shown impressive resilience lately even with price hikes. For many, buying a fast food meal is cheaper than cooking a store-bought meal. But as inflation is (hopefully) slowing, this will change and groceries will become more economical.

Stocks to Watch

Apple (AAPL) received another PT raise from Bank of America.

Bristol Meyers (BMY) lowered by Barclays. Pt lowered by 1$. Might as well not lower it at all.

Eli Lilliy (LLY) Pt raise. Great dividend. Great pipeline. Buy.

Happy Investing!

The Punkrock Capitalist