📊 What Goes ↑ Must Go ↓

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» Target ($TGT) announced the launch of its paid membership program, Target Circle 360, priced at $99 annually, aiming to enhance its e-commerce segment and counteract declining sales. With perks including unlimited free same-day delivery and special discounts, Target joins Amazon ($AMZN) and Walmart ($WMT) in leveraging subscription models for revenue growth and customer retention. (link)

» Bitcoin reached a new all-time high above $69,000 before experiencing an 8% tumble, reflecting the volatile nature of the cryptocurrency market. Amidst this year's 45% surge, experts warn of potential steep corrections, even as the asset demonstrates resilience and potential for future growth. (link)

» Apple's ($AAPL) iPhone sales in China plummeted 24% in the first six weeks of 2024, amid tough competition from local brands, notably Huawei, which saw a 64% jump in shipments following its Mate 60 launch. The resurgence of Huawei, alongside slight declines for Oppo, Vivo, and Xiaomi ($1810), signifies shifting dynamics in China's smartphone market. (link)

» CrowdStrike's ($CRWD) shares surged up to 21% after-hours as the company outperformed earnings expectations and provided strong guidance for the year. With a focus on expanding through acquisitions and achieving $10 billion in annual recurring revenue by 2030, CrowdStrike positions itself as a leader in cybersecurity. (link)

» Gold soared to an all-time high, reaching $2,141.79 an ounce, driven by anticipation of a Federal Reserve policy shift and rising geopolitical concerns. This remarkable rally, bolstered by macro funds and momentum buying, underscores the metal's appeal amidst stock market correction fears and global instability. (link)

» Tech giants' recent downturn casts a shadow over U.S. stocks, fueled by high valuations and geopolitical tensions despite the AI boom. As the market braces for Powell's Congress testimony and mixed economic signals, investors weigh the sustainability of the tech-led rally. (link)

The few major earnings releases scheduled for the remainder of the week are summarized below:

Economic results from yesterday are below, along with today’s schedule:

We will fail when we fail to try.

Rosa Parks