Good morning. Stocks are in the midst of earnings season. There are some big winners in the crowd..
It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.
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| | | | DOW 28,210.29 | -0.35% | | | | S&P 3,435.35 | -0.23% | | | | NASDAQ 11,484.69 | -0.28% | | | | *As of market close | | • | Stocks traded sideways on Wednesday, closing near the lows of the day. | | • | Oil dropped nearly 4 percent, closing at $40.05 per barrel. | | • | Gold advanced 0.6 percent, to $1,927 per ounce. | | • | Cryptocurrencies advanced yet again, with Bitcoin soaring nearly 15 percent to $12,690. | | | | | | | | Big Banks Are Buying into Fintech — Consider this Top Play Instead | | | | One of the biggest trends in the past few years has been in the payment space. A number of companies are offering alternative ways to clear payments that bypass the existing credit card system or the banking system as well. Naturally, big banks have noticed, and are starting to get into the trend themselves. JPMorgan Chase (JPM), for example, just launched QuickAccept. The new service offers a mobile app and contactless card reader.
» FULL STORY | | | | | | Insider Trading Report: Tiptree (TIPT) | | | | Michael Barns, Executive Chairman and a major holder at Tiptree (TIPT), recently added 6,104 shares to his holdings. The buy came to just under $32,000. He followed up with a buy on Tuesday of 4,954 shares. Barnes has been a regular buyer of shares over the past few weeks, and his holdings have crept up from 8.55 million shares to over 8.60 million. » FULL STORY | | | | | | Unusual Options Activity: Sibanye Stillwater Limited (SBSW) | | | | Although shares of Sibanye Stillwater (SBSW) are at a 52-week high, one trader sees shares moving even higher. The April 2021 $15 calls on the company saw a 20-fold rise in volume. Over 2,580 contracts traded hands against a prior open interest of 127. The bet, expiring in 176 days, is that the precious metals mining company will rise another $1.50 from its current price near $13.50. The calls will move in-the-money on a further 11 percent move in shares.
» FULL STORY | | | | | | | TOP | | TWTR | 8.393% | | | CB | 7.477% | | | AVY | 6.119% | | | TRV | 5.834% | | | CINF | 5.6% | | | BOTTOM | | ETSY | 8.136% | | | NFLX | 6.922% | | | PXD | 6.094% | | | CXO | 6.007% | | | COP | 5.955% | | | | | | | | | The recovery remains highly uncertain and highly uneven — with certain sectors and groups experiencing substantial hardship. These disparities risk holding back the recovery. Further targeted fiscal support will be needed alongside accommodative monetary policy to turn this K-shaped recovery into a broad-based and inclusive recovery. | | - Federal Reserve Governor Lael Brainard, on the shortlist to be Secretary of the Treasury should former Vice President Joe Biden win the election, on the need for further economic stimulus aimed at lower-income groups now. | | |
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