May 5, 2023

May 5, 2023

Happy Cinco de Mayo.

It’s always nice when a Friday and a holiday marketed for drinking overlap. But before the celebratory extracurriculars, let’s talk about the market. Stocks dropped again as regional banks seem to be tumbling one-by-one. PacWest, which we previously mentioned was struggling, had its trading halted multiple times as its stock fell by over 50%.

Market snapshot as of yesterday’s close:

Insight:

The job market is still presenting nationwide per the new jobs data. As tech and banks have pulled back, job growth totaled more than 250,000, which beat expectations. In following, unemployment was also better than expected.

Apple continues to perform admirably. Per its earnings call, the tech giant beat earnings as well as increased its quarterly dividend and planned repurchases. This year, the stock has gained more than 27%, well outpacing the market.

You know the drill, investing always comes with some level of risk, so make sure to do your research and consult with a financial advisor before making any big decisions. Remember, stay smart, stay informed, and stay invested!

Don’t forget to grab some good food and margaritas as well.

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