Good morning. The third stimulus check of the pandemic, totaling up to $1,400, has started to hit..
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. The third stimulus check of the pandemic, totaling up to $1,400, has started to hit bank accounts. With markets closed, the real action was on Coinbase, where buyers bid up Bitcoin to a new high of over $60,000 before a pullback.
While the market was expected to rally, trading was muted. Why? A new tax plan is in the works to pay for all the stimulus done now to bolster the economy. If passed, it would be the first tax hike since 1993. The tax package has an expected $2-4 trillion in revenue, and would also address infrastructure programs and climate change.
Have you gotten your stimulus check yet?
If so, how much of it are you investing in the markets? Hit reply and share your thoughts.
Now here's the rest of the news:
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| | |  | DOW 32,952.14 | +0.53% | | | | S&P 3,968.92 | +0.65% | | | | NASDAQ 13,459.71 | +1.05% | | | | | *As of market close | | | • | Stocks spiked higher into the close on Monday, as the Dow and S&P closed at all-time highs. | | | • | Oil declined 0.4 percent, last trading at $65.33. | | | • | Gold rose 0.6 percent, trading at $1,730 per ounce. | | | • | Cryptocurrencies pulled back from weekend highs, with Bitcoin last at $56,570. | | | | | | | |
| | | Obvious Value in a Heavily-Watched Sector | | | | Health care and biotech companies have had some big moves over the past year, but seem to be settling back into the relative underperformance that marked the pre-pandemic era. That's also applied to pharmaceutical companies too, including those who have developed Covid vaccines.
The drug industry's historically rapid development of a vaccine seems to be no longer impressive. Neither does the likely profits to be had thanks to government support and backing.
» FULL STORY | | | | |
| | Unusual Options Activity: American Airlines (AAL) | | | | Shares of American Airlines (AAL) have roughly doubled since the announcement of a Covid vaccine in early November. One trader sees a further move higher in the next month.
That's based on the April $29 calls. With 31 days until expiration, over 24,200 contracts traded, a 33-fold rise in volume from the prior open interest of 724. The option buyer paid about $0.62 for the contract.
» FULL STORY | | | | |
| | Insider Trading Report: Lions Gate Entertainment (LGF-B) | | | | Gordon Crawford, a director at Lions Gate Entertainment (LGF-B), recently picked up 100,000 shares. The total cost of the buy came to just under $1.6 million, and increased the director's stake by over 62 percent.
This marks the first insider buy of the year. Insiders have been active buyers in the past 18 months, but before that were more likely to be sellers, at a far higher price than where shares trade today.
» FULL STORY | | | | |
| | • | Elon Musk Declares Himself the "Technoking" of Tesla
In the latest filing with the SEC, Tesla Motors (TSLA) has given its CEO, Elon Musk a new title: Technoking. The company's CFO has also been named "Master of Coin." The move comes just after the company made a $1.5 billion purchase of Bitcoin, which topped $60,000 over the weekend. Tesla also announced some internal moves suggesting further development in its truck division. | | | | • | Women's Participation in the Labor Market Sinks to 33-Year Low
The labor market has been tougher for women than men during the pandemic. The latest data now shows that labor force participation among women is at a 33-year low. Trends have been slower for women since the financial crisis as well. The trend suggests that further gains in the labor market may be slower than in the earlier stages of the pandemic recovery. | | | | • | Banks Set to Improve Profits on Loss Reserves
With pandemic-era uncertainty, banking firms cut back on loans, and increased cash on hand to deal with the unexpected. With the economy recovering, banks can now reduce these loan-loss reserves, which can be used for further lending activity. That suggests higher banking profits are ahead, even if interest rates remain low. | | | | • | Toys R Us Finds New Owner, Reopening Plan
WHP Global has acquired a controlling interest in Tru Kids, owner of the Toys R Us brands. The company plans on opening stores again in the U.S. before the 2021 holiday season. The toy retailer declared bankruptcy back in 2017, leading to the brand's acquisition by Tru Kids. The company has had some pop-up stores and an online presence since then. | | | | • | Stripe Hits $95 Billion Valuation Ahead of IPO
Fintech payment company Stripe recently raised another $600 million. The valuation from that deal makes the company worth about $85 billion. The company plans on using the funding to expand its business in Europe. This is now one of the largest unicorns, and speculation continues to increase on the timing of the company's IPO. | | |
| | | | TOP | | | M | 10.838% | | | | NXPI | 8.961% | | | | UAL | 8.261% | | | | AAL | 7.702% | | | | AIV | 6.604% | | | | BOTTOM | | | LLY | 9.093% | | | | OXY | 4.342% | | | | EMN | 3.333% | | | | XRX | 3.159% | | | | UPS | 3.012% | | | | |
| | |  | | The markets have way too high expectations around what the Fed is going to do or say. I think the message is going to be consistent. | | - Gregory Peters, head of multi-sector and strategy at PGIM Fixed Income, on why investors night be too optimistic about the Fed changing its policy to be more accommodating in its upcoming meeting this week. | |
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