Investor's Playbook

📖Today’s Agenda

• Stock Market : Stock Market Surge: S&P 500 and Nasdaq Hit Record Highs Amid Bitcoin Rally

• Entrepreneurship : TOP 3 AI TOOLS OF THE WEEK

📈Stock Market

Stock Market Surge: S&P 500 and Nasdaq Hit Record Highs Amid Bitcoin Rally

The stock market rally suffered a sharp loss Tuesday but quickly rebounded, with the S&P 500 and Nasdaq composite hitting record highs. The Dow Jones fell modestly, but pared losses. Nvidia (NVDA) and chipmakers led the advance, while some software names struggled. CrowdStrike (CRWD) rose strongly on earnings in a wild week. Tesla (TSLA) was a big loser amid multiple headlines. Novo Nordisk (NVO) soared on new obesity trial data. Treasury yields fell even as Fed chief Jerome Powell continued to stress that he’s in no rush to cut rates. A mixed jobs report likely doesn’t change that. Bitcoin kept surging.

Stock Market At Record High

The Nasdaq composite and S&P 500 hit all-time highs Thursday, quickly rebounding from a Tuesday tumble. The Russell 2000 hit a 23-month high. The Dow Jones declined, but came off its worst levels. Chip stocks continued to surge, but a number of non-tech sectors shined. Treasury yields retreated.

Powell Sees No Reason To Rush Cuts

Fed chief Jerome Powell had few surprises in his congressional testimony, continuing to make the case that there’s no reason to rush rate cuts. Economic data during the week didn’t do much to change that, but may have eased fears that the Fed will scale back rate-cut plans even further at the March 20 meeting.

Nonfarm payrolls rose by 275,000 in February, above forecasts, but sharp downside revisions from the prior two months more than offset that. The hiring trend remains solid though. However, the jobless rate unexpectedly popped to two-year-high of 3.9% due to a surprisingly weak household employment survey. Hourly average earnings rose just 0.1%, with the annual gain cooling to 4.3%. Earlier, the ISM services index fell slightly, still pointing to modest growth.

Bitcoin Hits Record High

Bitcoin topped $70,000 briefly on Friday extending a massive run over the past few weeks. Ethereum ran up to its best levels since December 2021. Coinbase (COIN) skyrocketed yet again amid growing optimism for the cryptocurrency exchange’s trading volume, BlackRock (BLK) filed with the SEC to add bitcoin exposure to its $17.83 billion Global Allocation Fund, including its iShares Bitcoin Trust (IBIT) ETF.

Meanwhile, Marathon Digital (MARA) fell more than 11% for the week. The bitcoin miner on Tuesday reported it produced 833 bitcoin in February, up 22% from the prior year but down 23% from January. Marathon faces maintenance issues at two of its major facilities.

Novo Nordisk Soars On Obesity Pill

Novo Nordisk (NVO) said its weight-loss pill, amycretin, lost more than 13% of their body weight over 12 weeks in a phase one trial. The results were better than Novo’s own injectable weight-loss drug, Wegovy, which stoked about 6% weight loss over the same time period. Novo shares soared to a record high.

But on Friday, the FDA said it would hold an advisory committee meeting to discuss the benefits and risks of Eli Lilly’s Alzheimer’s drug, donanemab. That will delays the FDA’s decision on whether to approve donanemab, which was expected this quarter. Eli Lilly (LLY) edged lower.

🎯Entrepreneurship

TOP 3 AI TOOLS OF THE WEEK

1. CHATFLOW

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CHATFLOW offers AI-powered chatbot creation and text analysis for enhanced customer engagement. Its key features include the capacity to generate original text, intelligent chatbot interaction, advanced text analysis, insightful website analysis, and in-depth video analysis. Ideal for SaaS, e-commerce, and digital sectors, CHATFLOW empowers businesses to spark dynamic interactions with customers, boost productivity, and improve marketing decisions.

2. Dealstream

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DealStream is an AI-powered sales acceleration platform equipped with data analysis, visualization, content management, and task oversight capabilities. Its key features include analyzing dense data, visualizing data for enhanced comprehension, organizing and controlling content, and efficiently managing tasks. Beyond sales, DealStream informs smart decision-making in marketing and communications, providing insights to enhance customer engagement and brand visibility. Its rich analytics support data-informed decisions and future predictions. By leveraging DealStream, organizations drive efficiency, boost productivity, and optimize operations, ultimately redefining sales performance standards.

3. Avenga

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Avenga is an AI tool focused on transforming business operations through data analysis and visualization. Its key features include astute data analysis, delivering comprehensive insights critical for strategic planning, and highly intuitive data visualization, making complex data narratives easier to understand. Commonly used in the finance sector, Avenga helps financial institutions improve decision-making, forecasting accuracy, risk management, and operational efficiency. With Avenga, businesses can expect increased digitalization, efficiency, and optimized results, accelerating their journey towards achieving their goals.