😏 The Senate Drama is Just Getting Started

Good morning. The stock market had a brief shakeup on Friday. It came on news ..

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. The stock market had a brief shakeup on Friday. It came on news that the Democratic-controlled senate may not be as powerful as thought. Following the Georgia election runoffs, the senate is technically split 50-50, but the vice president will have a tiebreaking vote. Enter Joe Manchin. He's a Democrat from West Virginia, with a voting record that's crossed the aisle several times. Manchin managed to send markets lower on the mere suggestion that he wouldn't support a plan for a $2,000 stimulus check. That announcement alone revealed the truth that with such a narrow majority, any Democratic senator can defect and hold up or derail legislation in the next two years. Fortunately, markets remembered that the Federal Reserve is still printing money like there's no tomorrow, otherwise we might have had a down day. Now here's the rest of the news: Sponsored Content He's CRUSHED the World's Greatest Investor for Nearly a Decade Since 2012, Adam O'Dell has crushed the returns of the person most consider to be the greatest investor in history. Want to know his secret? He'll reveal it to the first 250 people who request it today (click this link for more). MARKETS DOW 31,097.97 +0.18% S&P 3,824.68 +0.55% NASDAQ 13,201.98 +1.03% *As of market close • Stocks closed higher on Friday, shaking off an intra-day pullback. • Gold sank 3.4 percent, with the metal closing at $1,848. • Oil prices rose 3.3 percent, closing the day at $52.50 per barrel. • Cryptocurrencies dropped, with Bitcoin last trading at $39,367 after nearing $42,000. Today's TOP TIPS A Relative Bargain in the Chip Space Ready to Soar Technology companies continue to push the stock market higher. Finding a bargain, even a relative one, is a tough one. That's especially true with the chipmakers, which are firing on all cylinders. But for those companies that can provide both the hardware and software, higher profit margins are likely. That points to a possible bargain looking ahead. That's also why it's no surprise that Piper Sandler just upgraded one of the biggest names in the space. » FULL STORY Insider Trading Report: At Home Group (HOME) Clifford Sosin, a major owner of At Home Group (HOME), recently picked up nearly 370,000 shares in transactions over two different days. The buys came to a total just under $6 million, and increases his holdings to just over 10.8 million shares. This marks the first buy at the home décor retailer chain since November. Insiders have otherwise been shares, including massive sales from another 10 percent owner and C-suite executives. » FULL STORY Unusual Options Activity: Mr. Cooper Group (COOP) Shares of mortgage finance company Mr. Cooper Group (COOP) have been in a steady uptrend for several months. Shares have pulled back slightly to start 2021, but one trader sees the uptrend continuing. That's based on the April 2021 $35 calls. Over 5,500 contracts traded against an open interest of 268, for a 21-fold rise in volume. The option, expiring in 95 days, would move in-the-money if shares rise another $5, or 16 percent. » FULL STORY IN OTHER NEWS • 140,000 jobs were lost in December, leaving the unemployment rate at 6.7 percent. • The PPP is relaunching as Covid case numbers and lockdown remain strong. • The United Kingdom is probing Google on its plan to end user tracking on the Chrome browser. • Hyundai Motors shares surge on rumors of a possible electric vehicle partnership with Apple. • Mercedes develops a new touchscreen system that takes up the whole dashboard. • Boeing will pay $2.5 billion in fines to settle fraud allegations with the FAA over the 737 Max. • Acacia Communications scraps its plan to be acquired by Cisco on antitrust grounds. • Tesla Motors overtakes Facebook as the fifth-most valuable U.S. company. • In streaming, Roku acquires the content from short-lived service Quibi. • In earnings, Micron beats and raises guidance, with revenue up 12 percent over the prior year. S&P 500 MOVERS TOP BIDU 15.566% TRIP 11.511% TSLA 7.84% MELI 7.574% FFIV 6.186% BOTTOM SIRI 7.944% WDC 5.334% AVY 3.823% NEM 3.608% VLO 3.285% Quote of the Day In some ways, bad news is good news, because it increases the probability for more stimulus. Investors have convinced themselves this week that given what's happened in Georgia, given the weakness in the economic data, that more help is on the way. We're going to get more fiscal help, and it's likely to happen pretty soon. - Michael Arone, chief investment strategist for US SPDR Business, on why the stock market has remained resilient amid a tumultuous week. Sponsored Content He's CRUSHED the World's Greatest Investor for Nearly a Decade Since 2012, Adam O'Dell has crushed the returns of the person most consider to be the greatest investor in history. Want to know his secret? He'll reveal it to the first 250 people who request it today (click this link for more). Not sure the best way to get started? 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