Good morning. Despite some of the increased economic lockdowns during the holidays, corporate..
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. Shares of Despite some of the increased economic lockdowns during the holidays, corporate earnings continue to beat expectations. That's partly because companies are good at setting low expectations. But the fact remains that big business simply moves on in spite of just about anything from wars, to civil strife, to even a pandemic.
Yet despite this strong earnings season, the market isn't rearing to head to new all-time highs. What gives? It may partly be valuations, which are stretched by any measure, such as GDP growth, earnings, sales, book value, or dozens of other metrics. Simply put, the strong earnings this quarter may not be enough to materially move markets higher, but at least it's preventing the averages from having a big drop lower.
Now here's the rest of the news:
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| | |  | DOW 30,937.04 | -0.07% | | | | S&P 3,849.62 | -0.15% | | | | NASDAQ 13,626.06 | -0.07% | | | | | *As of market close | | | • | Stocks traded slightly down on Tuesday, on a busy day for earnings. | | | • | Oil declined 0.5 percent, closing at $52.52 per barrel. | | | • | Gold dipped sank 0.3 percent, hitting $1,850 per ounce. | | | • | Cryptocurrencies traded mixed, with Bitcoin last at $32,095. | | | | | | |
| | | A Strong Way to Play a K-Shaped Recovery | | | | The pandemic and related lockdowns have left some better off. For others, job losses have led to a challenge. The end result? A K-shaped recovery, as some trend higher and some lower.
With that theme in mind, there are plenty of investment opportunities. Many consumers, particularly on the lower-end, are likely to continue their shift towards lower-priced consumer goods. That bodes particularly well for outlets such as dollar stores.
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| | Insider Trading Report: B. Riley Financial (RILY) | | | | Michael Sheldon, a director at B. Riley Financial (RILY) recently bought 2,089 shares. That increased his holdings by nearly 10 percent, and came to a total purchase price of just over $102,000.
That follows on a buy from the company Co-CEO earlier in the month for 110,000 shares on two separate occasions, and a buy from the company president of 1,600 shares. Overall, company insiders have been massive buyers of shares, with the last insider sale occurring in early 2019.
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| | Unusual Options Activity: The TJX Companies Inc (TJX) | | | | Discount retailer giant The TJX Companies Inc (TJX), parent company of HomeGoods, T.J. Maxx, and others, has seen shares decline rapidly over the past few sessions. However, one trader sees shares moving higher in the next 51 days.
That's based on the March 2021 $72.50 call options. Over 21,500 contracts traded against a prior open interest of 262, for an 82-fold rise in volume. The buyer paid about $1.44 for the contracts on average.
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| | | | TOP | | | LUMN | 28.095% | | | | FOX | 8.866% | | | | FOXA | 8.85% | | | | VIAC | 8.824% | | | | KR | 7.232% | | | | BOTTOM | | | ENPH | 7.591% | | | | FCX | 6.798% | | | | AES | 6.367% | | | | OXY | 5.253% | | | | ROK | 6.287% | | | | |
| | |  | | These are astounding numbers. It makes you feel like, wait a second, the market went up lot; maybe it should have. When you look at Raytheon and when you look at General Electric, has it occurred to you that nobody is flying and yet they're crushing it when it comes to aviation. | | - Jim Cramer, CNBC analyst, on earnings from GE and Raytheon showing that the stock market's recent move higher may be justified—and likely to continue as the economy fully opens up. | |
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