🚶 Congress Steps into the GameStop Fray

Good morning. Congress is having its hearing on the retail trading frenzy in GameStop (GME) last..

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.

Good morning. Congress is having its hearing on the retail trading frenzy in GameStop (GME) last month. So far, witnesses have pointed out that a few things could have avoided the big moves at the video game retailer. Had hedge funds not collectively shorted more than 100 percent of the stock's float, shares may never have been so susceptible to a squeeze. And if brokerage firms had the speed of any other 21st century business, they may have cleared trades faster, requiring less collateral or a need to buy shares as a hedge. While Congress weighs in, will this be an opportunity for genuine change in fixing a clearly broken part of trading (and one that favors hedge funds over retail traders? Or will we simply see the status quo with maybe one or two more useless new "rules" in place that are poorly enforced? Hit "Reply" to this email and let us know what you think! Now here's the rest of the news: Sponsored Content Tap Into Income Streams Big Banks Don't Want You To Know About The reality is you can potentially make money much faster with options than with stocks – which is why professional traders prefer them. Learn more with big financial insider and trading expert, Dave Aquino's Ultimate Beginner's Guide to Options. Click HERE to get your Free copy today MARKETS DOW 31,494.13 -0.38% S&P 3,914.02 -0.44% NASDAQ 13,865,36 -0.72% *As of market close • Stocks traded down on Thursday, but closed off their lows of the day. • Oil prices declined 1.8 percent, closing the day at $60.02. • Gold traded flat, with the metal changing hands at $1,774. • Cryptocurrencies were generally higher, with Bitcoin flat around $52,101. Today's TOP TIPS Solid Earnings and Stimulus Prospects Make This Retailer a Buy Now Markets continue to see some big moves in individual companies reporting earnings. Or, more accurately, in companies making announcements in conjunction with earnings. For instance, Walmart (WMT) reported solid earnings thanks to rising ecommerce sales, and boosted its share buyback program to $20 billion. Yet shares sold off anyway, as the firm came in light with guidance for the year ahead. It also didn't help that the company announced a higher wage for 425,000 workers. » FULL STORY Insider Trading Report: CVS Health Corp (CVS) Edward Ludwig, a director at CVS Health Corp (CVS) recently picked up 3,000 shares. The buy increased his stake by over 13 percent, and came to a total cost of exactly $216,000. This is the first insider buy at the company since last May, when an EVP bought 5,000 shares. Overall insiders have been sellers of shares, and entirely from the C-suite of executives, rather than from company directors. Insiders own a paltry 0.17 percent of shares. » FULL STORY Unusual Options Activity: Facebook (FB) Social media giant Facebook (FB) has been trading in a range between $250 and $300 over the past few months. At least one trader sees a big selloff ahead. That's based on the September $150 put options. Expiring in 210 days, shares would need to drop 47 percent for the trade to move in-the-money. Over 12,400 contracts traded, a 43-fold rise in volume over the prior open interest of 288. » FULL STORY IN OTHER NEWS • Marriott Reports First Annual Loss Since 2009 Hotel chain Marriott International (MAR) just reported its first loss since 2009. The company reported a total loss of $267 million, the second largest on record. The pandemic-driven slump impacted travel demand, which continues to remain low to this day. The news comes shortly after the death of company CEO Arne Sorenson, who passed away on Monday. • Biden Order Supply Chain Review Citing a heavy reliance on semiconductors and rare earth elements, President Biden ordered a review of key U.S. supply chains. The order may impact trade with China, which has spent years becoming the low-cost producers for many of these key goods, which also have potential military applications as well. • Rising Oil and Copper Prices Becoming "detached from reality" Rising commodity prices in recent months may not accurately reflect supply and demand fundamentals. In particular, notes Commerzbank, are oil and copper. The big moves higher there have been based on speculation. In the case of oil, OPEC nations have been discussing increasing their oil production thanks to the higher prices now occurring today. • McDonald's Ties Pay to Diversity Goals Setting the goal of having gender parity in management by the end of 2030, McDonald's (MCD) has tied its executive pay towards hitting that goal. Besides closing the gender gap, the fast-food giant is also looking to increase underrepresented groups from a current level of 29 percent to 35 percent by 2025. • Clubhouse Tops Eight Million Downloads Social media app Clubhouse, which operates via audio only, has topped 8 million downloads globally. The app has received a major boost following the disclosure that it was being used by billionaire Elon Musk, as well as Facebook (FB) CEO Mark Zuckerberg. At the start of the month, only 3.5 million downloads had been achieved. S&P 500 MOVERS TOP FE 7.199% KHC 5.24% LKQ 4.976% DISH 4.154% CBOE 3.718% BOTTOM ALB 10.167% WAB 9.187% MOS 9.136% XEC 7.199% WMT 6.481% Quote of the Day Builders report concerns over increasing lumber and other construction costs and delays in obtaining building materials. Rising interest rates will also erode housing affordability in 2021, as inventories of existing homes remain low. - Robert Dietz, chief economist at the National Association of Home Builders, on the impact of lumber prices hitting $1,000 per 1,000 board feet, double the price from three months ago, and the impact that may have on housing prices and housing starts. Sponsored Content Big Financial Insider Teaches How To Create Steady Income You've saved and you're ready to put your investment to work, but where to start? Is there a guide that teaches the basics and the secrets of top traders? "Ultimate Beginners Guide to Options" is what you've been searching for! Click HERE and let expert options trader, DaveAquino, give you the golden rules of successful traders. Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income Nothing in this email should be considered personalized financial advice. ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment. 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