Today is Monday, October 30, 2023.

The Early Bird Index today is 50.53.

New to this newsletter? Sign up here.

2 Stocks to Buy and 3 to Avoid

With the stock market appearing bearish in the fourth quarter of 2023, StockCharts.com Chief Market Strategist Dave Keller discusses the top stocks to pick and avoid during a new episode of the Early Bird Podcast.

Playing Defense: Keller is looking at buying opportunities with stocks that are outperforming benchmarks. The list includes insurance companies such as Assurant (NYSE: AIZ) and Progressive (NYSE: PGR), which have held up even as the rest of the market went lower.

Also: Keller is also looking at buying opportunities in sectors such as utilities and consumer staples.

Yes, But: Now is a time to avoid the homebuilding stocks due to rising rates, according to Keller. This includes Lennar (NYSE: LEN) and Toll Brothers (NYSE: TOL).

Going Further: This is also the time to avoid airline stocks due to higher fuel prices and concerns about discretionary spending from consumers. In particular, Keller said that Southwest Airlines (NYSE; LUV) is underperforming the broader market.

Final Thoughts: What advice does Keller have for newer investors right now? Find out by listening to a new episode of the Early Bird podcast.

Alts.co (Sponsored)

Alts.co is the world's largest community of alternative investors. If it's unique or outside the mainstream, we love it. We have 50,000+ subscribers, and getting new ones is like a knife through butter.

Try Alts.co now

Notables

Notable Earnings Today: McDonald's (NYSE: MCD), SoFi Technologies (Nasdaq: SOFI), Arista Networks (NYSE: ANET), Pinterest (NYSE: PINS), ON Semiconductor (Nasdaq: ON), Transocean (NYSE: RIG), Western Digital (Nasdaq: WDC), AGNC Investment (Nasdaq: AGNC), HSBC (NYSE: HSBC), V.F. Corp (NYSE: VFC), JinkoSolar (NYSE: JKS), Wolfspeed (NYSE: WOLF), XPO (NYSE: XPO), Lattice Semiconductor (Nasdaq: LSCC), Air Canada (OTCMKTS: ACDVF), Monolithic Power (Nasdaq: MPWR), Check Point Software (Nasdaq: CHKP), Arch Capital (Nasdaq: ACGL), Daqo New Energy (NYSE: DQ), Public Storage (NYSE: PSA), Amkor (Nasdaq: AMKR), Chegg (NYSE: CHGG), Comstock (NYSE: CRK), Cushman & Wakefield (NYSE: CWK), Denny's (Nasdaq: DENN), Douglas Dynamics (NYSE: PLOW), FMC Corp (NYSE: FMC), Forward Air (Nasdaq: FWRD), Harmonic (Nasdaq: HTLF), Independence Realty Trust (NYSE: IRT), Kemper (NYSE: KMPR), Kforce (Nasdaq: KFRC), Leggett & Platt (NYSE: LEG), ONE Gas (NYSE: OGS), Otter Tail Power (Nasdaq: OTTR), Piedmont Office Realty Trust (NYSE: PDM), PotlatchDeltic (Nasdaq: PCH), PriceSmart (Nasdaq: PSMT), Rambus (Nasdaq: RMBS), Simon Properties (NYSE: SPG), Tenet Healthcare (NYSE: THC), Varonis Systems (Nasdaq: VRNS), Vornado Realty Trust (NYSE: VNO), Welltower (NYSE: WELL), Wolfspeed (NYSE: WOLF), ZoomInfo Technologies (Nasdaq: ZI).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: AI TV @ MyStreme (Wefunder), Splash Wines (StartEngine), Hard Training Club (SMBX), Tres Jardines (Honeycomb), Cann-Ade (StartEngine), GenesisAI (Netcapital).

Notable Economic Events Today: N/A.

Solana Jumps Again Amid Optimism

The cryptocurrency Solana jumped by 3.8% on Sunday, higher than most digital coins yesterday. Solana is now up over 60% in the last 30 days. 

Final Thoughts: This price jump comes as an asset management firm recently predicted that the price of Solana could grow by 10,000% in 2030.

ArcelorMittal Faces Fallout After Fire Deaths

Keep an eye on the price of ArcelorMittal (NYSE: MT) today. Over the weekend, a coal mine in Kazakhstan owned by the steel giant caught fire, resulting in 42 deaths.

Final Thoughts: ArcelorMittal is down 16% this year. Kazakhstan already confirmed that it is nationalizing the local unit owned by the company.

Trends to Watch

Improved Sentiment: Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish (Cointelegraph)

Driving Production Higher: Toyota September production jumps on stronger Japan output (Reuters)

Activist Investor: Peltz’s Push for Disney Board Seats Boosted by Perlmutter’s Shares (Wall Street Journal)

More Labor Pains: Stellantis Workers in Canada Strike as Contract Talks Fail (Bloomberg)

Unexpected Drop: Oil prices slip even as Middle East tensions spike, as investors eye Fed meeting (CNBC)

Thank you for reading!

Forward to a friend and tell them to sign up here.

Be social: Like our Facebook page and follow us on Twitter.

Want more investing tips? Listen to the podcast.

Show Your Support: Buy Me a Coffee.

Questions or comments? Hit reply to reach out.