Soft Landing AND Goldilocks Economy? May 10, 2023

Locator: 44608M. 

After CPI numbers come out, the market surges. But less than 30 minutes later, turns negative.

In the news: copper. Link here.

And a 5% dividend.

Strategic investor Dennis Gartman thinks if copper closes down sharply on Monday the market could be looking at trouble.

Gartman is watching the technicals and says copper is currently flirting with some key levels. “You start to break some very important short-term technical uptrend lines,” he said.

And as goes copper, so goes the market, he said. In fact, Gartman pointed out that the recent correlation between copper prices, crude oil prices and stock prices has been “unbelievable.” 

A bit of hyperbole? As copper goes, so goes the market?

Let's look at others:

• AAPL: up nicely; trading at $173; floor, $133; ceiling, $200.
  
• RIVN: up 9%! -- Whoo-hoo!
• RIDE: flat
• BUD: down 2%; down to $62;
• BRK-B: down slightly
• AMD: up 1.7%
• ABBV: flat; pays 4%
• JNJ: up slightly
• KVUE: up slightly
• F: up 1.3%
• GM: up 1.3%
• SRE: flat

Overall, a blah day. 

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