Good morning. Bitcoin prices continued moving higher, nearing $54,000 in trading on Friday.
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.
 | | |  | DOW 3,906.74 | -0.18% | | |  | S&P 3,494.32 | +0.00% | | | | NASDAQ 13,874.46 | +0.07% | | | | | *As of market close | | | • | Stocks traded flat on Friday, resulting in the first weekly loss in three weeks. | | | • | Oil prices declined 2.6 percent, closing the day at $58.97. | | | • | Gold rallied 0.3 percent with the metal changing hands at $1,780. | | | • | Cryptocurrencies continued higher, with Bitcoin hitting $55,426. | | | | | | | |
| | | Food Inflation is Rising, making this Equipment Play a Buy | | | | There's always a good profit to be had in the "picks and shovels" of any trend. Companies that provide infrastructure or supplies can profit from a number of ways that other firms may not be able to do.
One trend is rising food prices, which you may have noticed at the shelves of your local grocery store. Rising crop prices are pushing up the final cost of food as well.
» FULL STORY | | | | |
| | Insider Trading Report: Two Harbors Investment Corp (TWO) | | | | Matthew Koeppen, Chief Investment Officer at Two Harbors Investment Corp (TWO), recently added 20,000 shares to his holdings. The buy came to just over $133,000.
He was joined a day later by William Greenberg, the company President and CEO, who bought 35,000 more shares, at a total cost of just over $230,000. These mark the first insider buys since 2019. Prior actions over the past year have been sales.
» FULL STORY | | | | |
| | Unusual Options Activity: Freeport McMoRan (FCX) | | | | Copper giant Freeport McMoRan (FCX) has been on a tear, and one trader sees shares continuing to move even higher in the next few months.
That's based on the May $42 calls. Expiring in 88 days, over 3,250 contracts traded recently, a 20-fold rise in volume from the prior open interest of 163. Shares would need to rise another 13.5 percent for the option to move in-the-money before expiration. The trader paid about $2.41 to make the trade.
» FULL STORY | | | | |
| | • | Pfizer-BioNTech's Covid Vaccine Becomes Easier to Transport
One of the challenges with Covid vaccines has been stringent transportation requirements. The vaccine has required cold storage needs. However, process improvements have made that obstacle easier, which in turn should make delivery of vaccines easier. Lower spoilage is also likely, in another move that should prove a boon to the economy. | | | | • | Global Services Remain Mixed
U.S. services companies have seen rising demand for their services in recent months, whereas similar companies based out of Europe and Japan have seen a decline. That's in contrast to global manufacturing, which has been recovering at a steadier pace globally. | | | | • | UK Supreme Court Rules Uber Drivers are Employees
Ride-share firm Uber (UBER) has spent millions lobbying to keep its contractors as just that. In a blow to the company overseas however, the United Kingdom supreme court ruled that those who offer their services on the ride share app are employees, not independent contractors. The distinction can mean a difference of thousands of dollars annually in healthcare and other benefits. | | | | • | Rising Fuel Costs Threaten Return to Profitability for Airlines
It's possible that some short-term Treasury yields could end up going negative thanks to a supply crunch. When that happens, bond buyers pay a small percentage to hold rather than receive a small percentage for loaning out their capital. Auction rules prevent the move from happening, but the move could occur in secondary markets by risk-averse investors who want to stay out of the stock market. | | | | • | Empire State Building Sees 94 Percent Drop in Observatory Tourism
One of the most attractive tourist destinations in New York City, the pandemic has led to a collapse in tourists visiting the observatory at the Empire State Building. The real estate investment trust that owns the property reported a 94 percent drop in the fourth quarter. Just 55,000 visitors went to the space, compared to 894,000 at the same time a year ago. | | |
| | | | TOP | | | BIDU | 14.06% | | | | ALB | 10.399% | | | | DE | 9.908% | | | | HFC | 9.814% | | | | FCX | 9.813% | | | | BOTTOM | | | HOLX | 8.056% | | | | WST | 5.119% | | | | ZTS | 4.734% | | | | PKI | 4.074% | | | | KEYS | 3.952% | | | | |
| | |  | | [Bitcoin] has started to get so big that it arguably creates its own demand as companies and institutions begin to make forays into a field they wouldn't have touched a few months previously. Ironically it is turning itself into a credible asset class to many by rallying so much of late and also by getting increasing institutional buy-in. | | - Deutsche Bank research strategist Jim Reid, as Bitcoin prices topped $54,000 and the market cap for all BTC hit $1 trillion in valuation as companies look to expand offerings there. | |
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