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This week’s Friday Update includes a summary of the recent Cabot Turnaround Letter, and comments on earnings at Macy’s (M). We also summarize the podcast and include The Catalyst Report.

The major indexes have been up and down this week, but net-net, there’s not too much change—as of this morning, just about every index and growth fund we watch is down a touch to up less than 1%.

This week’s Friday Update includes comments on earnings from Duluth Holdings (DLTH). Two stocks are at or near our price targets and we summarize the podcast.

The market is having one of its better days in a few weeks—as of 2 pm ET, the Dow is up 578 points and the Nasdaq is up 329 points

This market distinctly turned ugly again. The S&P 500 and the Nasdaq closed at year-to-date lows on Friday.

It was hoped that earnings could save the floundering market. But it isn’t happening. Inflation and slowing growth are creating a pall over everything. The Fed seems determined to make up for lost time and aggressively hike interest rates. Stocks can’t get much traction as investors look ahead to more inflation, rising interest rates and a weaker economy.

It’s been another week of choppy trading action as more earnings reports pour in. We received a solid earnings report from Silvergate Capital (SI), and that stock has perked up.

For the major indexes, it hasn’t been a bad week—the big-cap indexes are down a bit, while some of the broader indexes are up a tad—but the story of the week has been under the surface, where growth stocks were taken apart (ARKK down 9% through Thursday) while even some leading areas (XME down 6.5%) also took hits.

The market is finally enjoying a rally today, with the major indexes up after a few positive earnings reports. As of 2:45 ET, the Dow was up 644 points and the Nasdaq was rallying 400 points.

It’s the heart of earnings season. More than a third of all S&P 500 companies report this week. Can the earnings barrage save this market?

The market could sure use some help. It just got hit with more bad news when it was already teetering. The market was see-sawing between generally positive earnings in a still strong economy and the specter of an aggressive Fed seriously slowing the economy over the rest of the year. Then it got hit with news of Covid spreading in China and likely slower growth in that country and globally.

The market got off to a decent start to the week, but things have deteriorated for many names over the last two days. There are a few stocks that I had anticipated selling relatively soon, hopefully into some strength.

While things can turn up quickly, especially during earnings season, the market’s downturn over the last two days suggests we should drop a couple of names today.

The bleeding out among growth stocks is continuing today thanks in part to Netflix’s (NFLX) implosion, with the Nasdaq and most growth funds under pressure.

What a difference a few days can make. A little over a week ago the market looked like it was about to roll over and die. But since the close on March 14 the S&P 500 has soared more than 8% and the Nasdaq has spiked more than 12%. Will the magnificence last?

I doubt it.

It’s Fed decision day. The Central Bank is going to raise rates. And the market loves it.

All three market indexes are up big for the second day in a row. Despite the fact that the Fed will today announce the first rate hike since 2018, it’s expected and the market isn’t worried. As a matter of fact, investors sense we will navigate this minefield with no additional cause for concern.

Clif Droke, Chief Analyst for Cabot’s SX Gold & Metals Advisor, advised me that he had traded out of our latest recommendation, the iPath Series B Bloomberg Tin Subindex Total Return ETN (JJT).