system
A chat on subreddit /r/wallstreetbets
human
 Market Sentiment at the Open:

**Markets likely to open high and then sell off.** Market waiting for Fed meeting minutes later today to understand the reason for higher rate increase forecast. Powell had focus on job market strength in his statement last time

#### Bulls may like this

* Futures point higher after sell off of yesterday
* China is pausing massive investments aimed at building a chip industry to compete with the US

#### Bear thesis

* Bodies pile up with Covid surge in China.

#### Stock Specific

* Apple hikes the price of iPhone battery replacements by $20
* Microsoft looking at tapping ChatGPT to increase Bing marketshare. On the other hand, it recognizes its first union as ZeniMax software testers organize. Downgrade by UBS
* Southwest Airlines’ schedule stabilizes after holiday meltdown but costs are piling up as they refund and compensate cancellations
* Cathie Wood continues to buy TSLA
* Salesforce is announcing it will lay off about 10 percent of its staff and close some offices as part of a restructuring strategy
* Google and Meta represented less than 50 percent of U.S. digital ad dollars spent last year, the first time since 2014, as Amazon and TikTok gain momentum.

Other news

&amp;#x200B;

* Sam Bankman-Fried pleads not guilty to federal fraud charges in New York

### Significant Events Calendar:

##### Time &gt;&gt;&gt;&gt;&gt; Event &gt;&gt;&gt;&gt;&gt;&gt;&gt; Interpreting the report (Oversimplified)

* 07:00 ET &gt;&gt;&gt; MBA Mortgage Applications Index &gt;&gt;&gt;
* 10:00 ET &gt;&gt;&gt; ISM Manufacturing Index &gt;&gt;&gt; If this Index drops, it shows contraction in economy. If not, gives more reason to Fed for rate increase.
* 2 PM ET &gt;&gt;&gt; FOMC Minutes &gt;&gt;&gt; Details of the committee's policy-setting meeting held about two weeks earlier. Most details are already known but still could move markets.
gpt
imagine writing all this and missing the 10AM JOLTs jobs opening data release