Good morning. The stock market saw a classic rally in the last two months of 2020.
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 30,223.89 | -1.25% | | | | S&P 3,700.65 | -1.48% | | | | NASDAQ 12,698.45 | -1.47% | | | | *As of market close | | • | Stocks dropped in the first trading day of 2021, although indices closed off their lows. | | • | Gold prices soared 2.8 percent, with the metal closing at $1,947.70. | | • | Oil prices slid 2.5 percent, closing the day at $47.32 per barrel. | | • | Cryptocurrencies generally rallied, with Bitcoin soaring over the holiday weekend to $31,286. | | | | | | | | | This Pandemic Beneficiary Has Room to Move Higher | | | | A number of companies were obvious beneficiaries from the pandemic. Work-from-home trends were the clear winners. But consumer spending changed in other ways as well. For instance, spending on business apparel dropped and sales rose on more comfortable apparel (especially items that wouldn't be seen during a Zoom meeting). But despite the rising trend of athletic and leisure ware, many of these names have seen strong growth but a relatively poor stock performance.
» FULL STORY | | | | | | Insider Trading Report: The Kroger Company (KR) | | | | Ronald Sargent, a director at grocery chain The Kroger Company (KR), recently bought 3,200 shares. The buy increased his holdings by just under 3 percent, and came to a total cost of just over $101,000. This buy marked the only time a company insider bought shares in 2020. Insiders were generally sellers, with the last insider buy occurring in July 2019. Shares of the chain had a strong year as the grocer benefited from pandemic-related shopping trends. » FULL STORY | | | | | | Unusual Options Activity: American Airlines (AAL) | | | | Shares of American Airlines (AAL) have outperformed the market in recent months, even with a more recent pullback. News of a Covid vaccine could mean a quick return to air travel. But at least one trader thinks the current move is overdone, and a pullback is likely. That's based on the August 2021 $12 puts. Expiring in 227 days, and with shares at $15, the trade would move in-the-money on a 20 percent pullback in shares.
» FULL STORY | | | | | | | TOP | | FLIR | 19.188% | | | ZM | 6.718% | | | LB | 6.48% | | | NEM | 5.443% | | | TPR | 5.245% | | | BOTTOM | | TDY | 7.549% | | | NCLH | 6.685% | | | CCL | 5.91% | | | HWM | 5.851% | | | MGM | 5.744% | | | | | | | | | There's no denying that bitcoin has proven itself as an established and top-performing asset. Bitcoin's value grew over 300% last year as more institutional investors took that leap to embrace digital currencies. We're seeing it emerge as a part of the recommended allocation strategy for institutional investors and investment banks. | | - Eric Demuth, CEO of digital asset broker Bitpanda, on why Bitcoin's price is likely to continue rising in 2021 (albeit with some big volatility along the way). | | |
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