Markets will digest the U.S. non-farm payrolls report data this morning. They will guess how the Federal Reserve interprets unemployment data in its interest rate policy. Watch changes in Treasury yields.
Momentum traders will look for follow-through buying in shares of Peloton (PTON). The firm partnered with TikTok as part of its makeover strategy. It will create a new fitness hub. This will feature short-form videos, live classes, and content from Peloton’s instructors.
In the speculative EV space, traders should avoid heavy bets on NIO Inc. (NIO). The company risks losing more as it increases sales. Similarly, Nikola (NKLA) has poor prospects. It does not have a viable business model. Lucid Motors (LCID) is still struggling to win back its investor’s confidence. Fisker (FSR), despite its plan to meet its delivery target, is a high-risk stock. Short-sellers have a 42% short interest on FSR stock.
Fisker has an asset-light strategy. It will start selling its vehicles at dealerships across North America and Europe.
Value investors who bet on Pfizer (PFE) bottoming in the high $20s might want to wait for firmer buying action. Until the stock returns to $30, sentiment remains weak. Shareholders lost confidence in Pfizer’s CEO for delivering profit growth. PFE stock fell by 2% on Thursday.