Good morning. Investing occurs on two levels. The first level includes the fundamentals, like how..
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 33,153.94 | +0.52% | | | | S&P 4,019.82 | +1.18% | | | | NASDAQ 13,480.11 | +1.76% | | | | *Stocks were closed for Good Friday. | | | | | | | | | This Pandemic-Era Trend Is Continuing Strong in 2021 | | | | While the pandemic caused a shift to working from home and made companies like Zoom Communications (ZM) a household name, other trends played out as well. Spending more time in the home, consumers started spending more on home goods. That's a trend that looks likely to continue as the economy recovers and incomes rise. For those on the higher-end of the economic scale who were relatively unaffected, it bodes very well for high-end furnishing companies.
» FULL STORY | | | | | | Insider Trading Report: QuantumScape (QS) | | | | Volkswagen Group, a major holder of QuantumScape (QS) made an additional 15.2 million share buy recently. That increased the company's holdings by nearly 30 percent. The purchase price came to just over $100 million. The share buy occurred as the lithium-metal battery company met a technical milestone. This purchase by Volkswagen is the first insider transaction at the company. In total, all insiders at the company still retain over 30 percent of shares. » FULL STORY | | | | | | Unusual Options Activity: Rio Tinto Group (RIO) | | | | Mineral ore producer Rio Tinto Group (RIO) saw shares double in the past year, going from $45 to $92, before a pullback starting in February. Now, one trader sees a rebound in shares. That's based on the January 2022 $86.57 calls. Over 13,862 of the contracts traded, a 60-fold jump in volume from the prior open interest of 230. The trade expires in 292 days. The buyer paid about $4.60 for each contract.
» FULL STORY | | | | | | • | Unemployment Rate Drops to 6 Percent
Payrolls rose by 916,000, far past expectations for 675,000 jobs created. The massive jump caused the unemployment rate to drop to just 6.0 percent. The biggest gains occurred in the reopening parts of the economy, such as leisure and hospitality. Construction also rose, likely on the back of the strong housing market. Revisions to January and February's numbers also added over 150,000 jobs there. | | | | • | Treasury Market Reports Worst Quarter Since 1980
Rising bond yields indicate falling prices. The rapid rise of bond yields in the first quarter of 2021 marks the worst quarter for Treasuries since 1980, 40 years ago. The Treasury market dropped 4.6 percent in the first quarter. 1980's drop was a bigger decline of 6.8 percent, but it occurred at a time when bond yields were peaking before a massive bull market in Treasuries. | | | | • | Lending Market Tight as Housing Soars
Home sales are faring well, and record-low interest rates in the past year have enticed many to refinance their homes at lower rates. However, mortgage rate availability is at its lowest rate since 2014. Most home loans are going to borrowers with high credit scores who put down ample down payments. Those with qualifications and higher-risk loans are having more difficulty financing right now. | | | | • | Non-Fungible Token Sales Spark Debate
The past few months has seen an explosion higher in non-fungible token (NFT) sales. These are assets such as pictures or songs that provide unique and provable ownership rights. Some see this as the future of art collecting, while others view it as nothing more than a fad like the initial coin offerings (ICOs) during the last cryptocurrency boom in 2017. | | | | • | Coinbase Sets Direct Listing for April 14th
Cryptocurrency trading platform Coinbase has announced a direct listing on April 14th. The company will provide further financial details for prospective investors on April 6th. A direct listing ensures retail investors can get in early, without first going through the large blocks of shares bought by investment bankers. Coinbase is one of the largest unicorn companies yet to go public. | | | | | | TOP | | FANG | 10.518% | | | MRO | 10.393% | | | XEC | 8.469% | | | DVN | 7.552% | | | LRCX | 7.402% | | | BOTTOM | | KMX | 7.048% | | | PVH | 4.466% | | | M | 2.903% | | | RL | 2.615% | | | DVA | 2.162% | | | | | | | | | The consumer is the big story. It's not just the stimulus bills. ... It's the leftover stimulus money that's accumulated in bank accounts. We think there's $3.5 trillion sitting in bank accounts above and beyond the normal level. | | - Ethan Harris, head of global economic research at Bank of America, on why the economy may continue to expand higher following a full reopening of the economy, which should continue to benefit the stock market. | | |
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