Good morning. Early studies are showing that the latest round of stimulus money went into spending
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 33,502.40 | +0.17% | | | | S&P 4,079.16 | +0.42% | | | | NASDAQ 13,829.31 | +1.03% | | | | *As of market close | | • | Stocks moved higher on Thursday, with the S&P 500 once again at a record high. | | • | Oil traded flat, around $59.77 per barrel. | | • | Gold prices rose 0.8 percent, at $1,755 per ounce. | | • | Cryptocurrencies generally rallied, with Bitcoin last at $57,958. | | | | | | | | | | Data-Center Trends Bode Well for This Overlooked Tech Play. | | | | Semiconductors continue to look like a bright spot in the tech space following a drop in a number of tech heavy names so far this year. In particular, companies offering new products now to meet demand for the latest and next-generation tech can likely fare well. One surprising play? Intel (INTC). Often written off as a has-been in the chip space thanks to its focus on computers, the company just launched its latest line in server chips, and early results are promising.
» FULL STORY | | | | | | Insider Trading Report: The Howard Hughes Company (HHC) | | | | Allen Model, a director at The Howard Hughes Company (HHC), recently bought 4,300 shares. The buy increased his holdings by 26 percent, and came to a total purchase price of just under $418,000. Insiders have been active in the past year, with some major buys from Pershing Square Capital Management, but also some sales by them and some various insiders along the way. Overall, company insiders own about 3.6 percent of shares. » FULL STORY | | | | | | Unusual Options Activity: Dropbox (DBX) | | | | File sharing app company Dropbox (DBX) is trading at its highest level since shortly after it went public in 2018. One trader sees the potential for shares to continue higher. That's based on the May 21st $29 call. Expiring in 42 days, over 7,750 contracts traded, a 36-fold rise in volume compared to the prior number of contracts at 213. The option buyer paid about $1.50 for the contract.
» FULL STORY | | | | | | • | Why Monday Is This Trader's Favorite Day.
Most people dread Mondays because it signals the end of the weekend… And the beginning of the grueling week to come. But Monday is Tom Busby's favorite trading day of the week. . That's because his "Hidden Breakout" trade signals every Monday at exactly 12:01PM… During this workshop Tom explains how his Hidden Breakout Trade works…. So click HERE and get signed up! (Clicking this link registers you automatically for the event, and for periodic updates from DTI Trader.) - Privacy Policy.) | | | | • | Jobless Claims Unexpectedly Surge
Initial jobless claims rose to 744,000 last week, far higher than estimates. It's the first reversal in several weeks of what has otherwise been a downward trend. Still, the overall trend remains down, although there's a long way to go before a return to the pre-Covid average of 220,000 claims per week. | | | | • | Dividend Payments on the Rise
One early victim of the pandemic were company dividends and share buybacks as companies looked to preserve capital amidst an uncertain outlook. However, that trend is now reversing. In the first quarter of 2021, 121 members of the S&P 500 announced dividend increases. That's a jump over the 91 companies that bumped up payments in the final quarter of 2020. | | | | • | $14.7 Billion Block Transfer the Largest Ever
Prosus (PROSY) the largest shareholder of Tencent (TCEHY), just sold off $14.7 billion worth of shares in a single block. That's the largest block trade ever. Typically, such trades aren't done on the open market, but rather made between two institutional investors to avoid volatility. Nevertheless, the news was enough to send shares of Tencent down. | | | | • | Twitter Eyes Clubhouse Acquisition
Social media giant Twitter (TWTR) is said to have held talks with social app Clubhouse about a $4 billion acquisition offer. The talks allegedly took place several months ago and have ended, although the reason why is unclear. Recent reports suggest Clubhouse has been looking to find new funding at a valuation of around $4 billion, rather than sell a stake to Twitter. | | | | • | GameStop names Ryan Cohen Chairman
Billionaire Ryan Cohen, a co-founder of Chewy (CHWY), made a big investment in GameStop (GME) shares last year. Now, the company is planning to make him Chairman, likely after the annual meeting in early June. Cohen has been a proponent of the company, seeing an opportunity to expand into online digital sales and scale back on its presence as a physical retailer. | | | | | | TOP | | ETSY | 5.573% | | | IPGP | 5.106% | | | PENN | 4.22% | | | ALGN | 4.197% | | | CZR | 3.845% | | | BOTTOM | | STZ | 4.567% | | | LUMN | 4.229% | | | VIAC | 3.646% | | | DISCA | 3.48% | | | COG | 3.409% | | | | | | | | | It's really important to recognize that these are transitory, and following those transitory pressures associated with reopening, it's more likely that the entrenched dynamics that we've seen for well over a decade will take over. | | - Federal Reserve Governor Lael Brainard on why inflation pressures are unlikely to lead to any sustained changes in inflation rates, and why a recovering economy will likely result in the moderate-growth, low-inflation of the 2010s. | | |
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