Monday, December 7, 2020

👉 Win or Lose in the Job Market, Stocks Remain Set to Rise

Good morning. Unemployment fell to 6.7 percent in November. That's good. But the rate of job..
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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Good morning.Unemployment fell to 6.7 percent in November. That's good. But the rate of job growth slowed. That's bad. However, in the world of the stock market, bad news can be good news. As long as the Federal Reserve is supporting the markets, a struggling economy means the central bank will be providing support for a longer period of time.

The faster the economy recovers, the sooner the Federal Reserve can step back on its emergency measures, and may even shave a year or two off of its plans to next raise interest rates. That's why, even with a struggling job market, and even with on-again, off-again stimulus talks in Congress, the stock market will likely continue its upward trend.


Now heres the rest of the news:

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MARKETS
DOW 29,883.79 +0.20%
S&P 3,699.13 +0.88%
NASDAQ 12,464.23 +0.70%
*As of market close
Stocks rallied into the weekend, with the Dow closing over 30,000.
Oil prices rose 0.8 percent, hitting $46.01 per barrel.
Gold traded flat, ending at $1,840 per ounce.
Cryptocurrencies slightly dipped, with Bitcoin changing hands at $19,949.

Today's TOP TIPS
Gold's Pullback May Give Way to a New Rally in 2021
Gold prices jumped in 2020. For most of the year, the metal has outperformed the stock market. Since the start of October, gold prices have been trending down from their highs, but are starting to see some resistance to that drop.

It's likely that gold prices will continue their long-term uptrend into 2021, and with talk of more stimulus fueling fears of inflation and out-of-control government spending, traders may want to start placing their bets now for the next upswing in gold.

» FULL STORY

Insider Trading Report: Hormel Foods Corp (HRL)
Steven Lykken, a Senior Vice President at Hormel Foods Corp (HRL), recently bought 6,873 shares. The buy increased his stake by over 25 percent, and came to a total cost of $322,000.

This is the second buy from insiders in as many months, following a small sale by a Group Vice President in November. Generally, insiders have been nearly exclusively sellers of shares over the past three years.

» FULL STORY

Unusual Options Activity: Micron Technology (MU)
Shares of semiconductor giant Micron Technology (MU) have been soaring higher in recent weeks. Traders expect the trend to continue. The April 2021 $77.50 call option just saw over 8,450 contracts trade, against a prior open interest of 196. That's a 43-fold rise in volume.

The trader is betting that shares will rally another $4 from their current price near $73.50 in the next 130 days. The trader paid about $6.75 for the options.

» FULL STORY

IN OTHER NEWS
Unemployment drops to 6.7 percent, but hiring slows with only 245,000 jobs added last month.
The U.S. dollar is expected to decline further in 2021.
Mortgage rates hit a record low for the 14th time this year.
Bond markets are starting to price in higher inflation expectations.
NASA selects four companies for moon material collection.
Warner Brothers becomes the first studio to stream movies the same day they hit theaters
Corporate cash rises to $2.1 trillion, which could be used for acquisitions, buybacks, or internal growth.
Petco files to go public again after the company went private in 2006.
Health tech startup OTV closes $170 million in funding.
In earnings, Dollar General beats expectations, but holiday uncertainty weighs on shares.

S&P 500 MOVERS
TOP
OXY 13.423%
FANG 12.67%
MRO 10.622%
A[A 10.48%
EOG 10.027%
BOTTOM
ULTA 3.45%
D 3.214%
MKTX 2.962%
SRE 2.909%
PHM 2.571%

Quote of the Day
This jobs report is blaring warning that a double-dip recession is looming and must be a wakeup call for anyone who is standing in the way of true bipartisan emergency relief.
- Senate Minority Leader Charles Schumer, on the need for further stimulus measures given the slowing pace of job growth.

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Billionaire Fears America Will End As We Know It
An official government document outlines a coming event that is so shocking a famous billionaire believes this could be the end of America.

The good news is this event will also bring with it ample opportunities to build wealth swiftly for those who know how.

Click HERE for the shocking details…


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