The U.S. strike on Houthi anti-ship missiles will continue to disrupt shipping activity. This will raise the shipping day rates, contributing to global inflation.
Shipping stocks to watch include Maersk (AMKBY), Star Bulk Carriers (SBLK), Golden Ocean (GOGL), and Matson (MATX).
To cut costs, Citi (C) reportedly cut executive-level jobs in risk and investment banking and markets. Last week, the bank announced a 20,000 job cut. The decrease will result in fewer middle management positions.
Citi, Bank of America (BAC), Wells Fargo (WFC), JP Morgan (JPM), and Morgan Stanley (MS) are among the stocks to consider trading today.
The retail sector has growing prospects. Watch Walmart (WMT) today after the company raised annual wages for store managers. Well-compensated staff will work more productively and boost staff morale.
In the tech sector, Apple (AAPL) will have volatility. After cutting iPhone prices in China only (excluding the U.S.), JD and Alibaba (BABA) are reportedly doubling the price cut ahead of the Chinese New Year on Feb. 10. Be wary of JD and BABA stock while AAPL stock continues to show strength.
Trade S&P Options
Throughout this year and last, the S&P 500 would dip sharply in the morning until around 11 a.m. to 1 p.m. The index would rebound steadily and close flat or up on the day. Option traders are buying risky zero days to expiry and 1DTE options.
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