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• Trend Tracker - Up To Date News and Trends On The Stock Market 📈

• Hot or Not? - All Your Real Estate Needs 🏠

• Crypto Chronicles - Basically the Avengers of Crypto! How Cool Is That? 🦸‍♂️

• Money Moves - Who doesn’t wanting to be making money moves? Latest on your Personal Finance.

📈 Trend Tracker

🧗‍♂️ Stocks climbed on Friday morning as investors monitored developments in the debt ceiling negotiations and processed positive first-quarter earnings results. The S&P 500 increased by 0.20%, the Dow Jones Industrial Average edged up by 0.04%, and the Nasdaq rose by 0.15%.

⬇️ Bank of America analysts maintained their negative outlook on Okta, a company listed on NASDAQ (ticker: OKTA), ahead of its Q1 earnings report. They anticipate revenue of $511 million and earnings per share of 11 cents, slightly below consensus estimates. The analysts expressed concerns about Okta's growth prospects and predicted the company would reiterate its FY24 cRPO (calculated remaining performance obligation) guidance of $1,940 million, citing ongoing risks. BofA set a price target of $64 per share, indicating a potential 20% decline, noting limited upside to Okta's management target of 15% FY24 cRPO growth.

⬇️ Foot Locker (FL) stock plummeted 25% as the company lowered its full-year sales forecast due to weak same-store sales and challenging economic conditions. The retailer expects a potential 9% decline in comparable store sales, worse than its initial projection of 5.5%. Revenue and earnings for the first quarter also missed expectations, causing concern in the athletic apparel sector, impacting brands like Nike (NKE) and Under Armour (UAA).

🏠 Hot or Not?

Crypto Chronicles 💥

📉 Ethereum (ETH) price dips 1% to $1,805 in the past 24 hours amid a 1% cryptocurrency market decline. Despite a 2.5% weekly rise and a 50% year-to-date gain, ETH is down 9% in the last 30 days. The increase in trading volume and large whale transfers hint at potential future rallies.

⛔️ The crypto market remained cautious as investors awaited a speech by Fed Chair Jerome Powell, following hawkish comments from other central bank officials. Bitcoin traded flat, while major coins suffered moderate losses. Treasury yields rose, indicating a higher probability of an interest rate hike, impacting investor risk appetite. Bitcoin's recent correlation with gold, rather than Nasdaq, was observed.

💻 Litecoin (LTC) is trading at a discount, according to an onchain metric. The negative market value to realized value (MVRV) Z-score suggests LTC is undervalued relative to its fair value, as per Glassnode. MVRV compares market capitalization and realized value, excluding lost coins.

💸 Money Moves 💰

🚀 The Internal Revenue Service (IRS) plans to launch a pilot program for a government-run tax-filing system next year. The move aims to reduce costs and simplify the tax-filing process. The success of the program, called Direct File, will depend on collaboration with state tax departments.

📈 Delinquency rates for credit card and personal loan payments are rising, particularly among high-risk borrowers. Reports show an increase in missed payments, prompting lenders to tighten lending requirements but holding off on reducing credit limits, a common recession response. Riskier borrowers with lower credit scores have higher delinquency rates.

You got it! Alright, financial mavericks, it's time to wrap up today's discussion. But fear not, we can keep the conversation going like the true money mavericks we are.

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