Happy Monday, Zingernation! You never know how important having a rainy-day fund is until it starts pouring and you’re caught with a white tee shirt and no umbrella. Here are five steps that some dude named Warren Buffett suggests taking before a recession hits.

–Aaron Bry & Nic Chahine

Today’s Price Action:

$SPY: +.12%
$QQQ: +.70%
$DIA: -.46%

Plus, looking to take advantage of the rising demand for copper and uranium? Today’s partner has you covered.

And, why haven’t you checked out the “MoneyLine” yet? Stop getting trade ideas from your buddies at the bar, and start following a pro.  

TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

Odds Of Ethereum Approval 75%: ETF Analyst

Briefly: Crypto markets are surging on strong spot Bitcoin ETF weekly inflows — and a bombshell report that spot Ethereum ETFs may be approved after all.

So Basically: Bloomberg senior ETF analysts Eric Balchunas and James Seyffart sent markets into a frenzy after updating their odds of an ETF approval this week from 25% to 75%.

So Then: Balchunas attributed the pivot to “chatter” that the Securities and Exchange Commission (SEC) “could be doing a 180,” for potentially political reasons.

So What? Major cryptocurrencies are trading higher at the time of writing. Online crypto traders also weighed in on the possibility of approval.

Click here to read what they said.

PRESENTED BY SPROTT

Potential Supply-Demand Imbalance? The Growing Role Of Uranium And Copper Amid The Global Energy Transition

Uranium and copper are shaping up to be the unsung heroes of the global green transition. As the world races towards zero-carbon emissions, these essential commodities are becoming indispensable players in the energy market.

Click here to keep reading

FIVE MOVERS

Palo Alto Networks stock dropped like a rock after the close, trading down nearly 10% after the cybersecurity company reported earnings.

Peloton shares took a hit today, trading down nearly 5% after the company announced new refinancing plans.

Hims and Hers saw strong growth today, trading up nearly 30% on news that the telehealth company will start offering weight-loss drugs to customers.

Cruise names like Carnival and Norwegian Cruise Lines soared in today’s session after delivering strong guidance numbers.

Meme stocks like AMC and GameStop had another strong day today after investors and traders appeared ready to buy the dip on the two.

ONE TRADE IDEA FOR TOMORROW

AI-Driven Rally Set To Expand To Power, Commodities, Utilities

Briefly: NVIDIA is in the spotlight as it prepares to report its Q1 2024 earnings on Wednesday — but, according to one analyst, the AI rally is “not just about NVIDIA any more.”

So Basically: That’s according to Bank of America’s Ohsung Kwon, who said the AI-driven gains initiated by NVIDIA are now expected to extend beyond the chipmaking sector to encompass power, commodities and utilities.

So Then: That doesn’t mean NVIDIA won’t be feeling the rally too. Wall Street consensus estimates predict it will report an earnings per share (EPS) of $5.60, more than five times the EPS from the same quarter last year. Revenue projections are similarly optimistic: three times the revenue in Q1 2023.

So What? As BoA noted, NVIDIA’s market capitalization has surged by $1.5 trillion since its “blowout” Q1 2023. Could similar gains be heading to other sectors now too?

Click here for the full analyst breakdown.

PRESENTED BY INFRACAP

ETF Insights with Jay Hatfield: Shaping Modern Portfolios

Secure your spot now to uncover expert insights, elevate your investment knowledge and gain a competitive edge in the world of ETFs!

Date: Thursday, May 21, 2024
Time: 12 PM – 1 PM EST

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