😲 How the Gig Economy Might Get Killed

Good morning. The financial crash in 2008 led to the creation of the gig economy. From ride..

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 financial crash in 2008 led to the creation of the gig economy. From ride sharing to room rentals, finding ways to monetize assets that people had became a big business in and of itself. Now, that threat is under fire. Some states, like California, have already decided that gig workers should be treated like employees. That means higher pay and benefits, rather than just making money per gig. That's a lot costlier, and can eat into a gig worker's sense of independence. It's also a threat to this growing part of the economy, which has created plenty of part-time and full-time jobs alike. Stocks naturally sold off on an announcement from the U.S. Labor Secretary that gig workers may get classified as employees. While stocks bounced back, if that change does happen, it may make for a rougher few months while the market adjusts. Now here's the rest of the news: Sponsored Content Buy These 3 Cryptos to Beat Bitcoin The cryptocurrency market is exploding in value right now… Bitcoin broke through $60,000…. And dozens of cryptos have gone up more than 1,000%... If you're ready to start capitalizing on this massive boom, legendary crypto investor Matt McCall just released a new free report, "3 Cryptos to Beat Bitcoin." You can claim your free report by clicking HERE. MARKETS DOW 34,062.60 +0.72% S&P 4,211.61 +0.68% NASDAQ 14,082.554 +0.22% *As of market close • Stocks ended the day higher on Thursday, overcoming a steep intraday drop. • Oil rose 1.7 percent, to $64.96 per barrel. • Gold traded slightly down, closing at $1,774 per ounce. • Cryptocurrencies were slightly down, with Bitcoin at $52,753. Today's TOP TIPS The King of Share Buybacks Ups the Stake to $90 Billion For most companies, share buybacks sound attractive. They can offset shares issued to executives. And as long as the market is rising, things look good. Most companies aren't Apple (AAPL). The consumer tech giant just beat earnings and raised its share buyback program to a staggering $90 billion. That's on top of a dividend payout as well, increasing the amount of cash the company returns to shareholders every year. » FULL STORY Insider Trading Report: Apollo Medical Holdings (AMEH) Allied Physicians of California, a major holder in Apollo Medical Holdings (AMEH), recently added 100,000 shares. The buy increased the organization's position by just under 1 percent, and came to a total cost of $2.45 million. The group has been both a buyer and seller of shares in the past year. Other company insiders, largely C-level executives have mostly been buyers in the past year, with a smattering of sales. » FULL STORY Unusual Options Activity: Visa (V) Credit card processing company Visa (V) hit an all-time high following a strong earnings report. One trader sees the trend continuing in the next few months. That's based on the August $240 calls. With 112 days until expiration, over 15,890 contracts traded against a prior open interest of 593, for a 27-fold surge in volume. With shares near $234, the options will move in-the-money on another 2.5 percent move higher in shares. » FULL STORY IN OTHER NEWS • Hydrogen-Powered Vehicles: 3 Stocks to Power Your Portfolio In this Profit Trends special report, you'll discover... How three major companies are using hydrogen fuel cell technology to revolutionize the electric car industry... and how you could position yourself to profit before this technology goes mainstream. What makes hydrogen-powered vehicles a no-brainer over standard battery-powered vehicles in the field of alternative energy... and why minimum environmental impact means maximum opportunity for market growth. And why one up-and-coming company launched a $6.7 billion plan to go all-in on hydrogen-powered vehicles, and how its long-term commitment could produce big returns for early investors. And so much more! Get Your FREE Report (By clicking this link, you will automatically be opted in to receive emails from Profit Trends. You can unsubscribe at any time. - Privacy Policy.) • GDP Grows at 6.4 Percent Annualized Rate The U.S. economy grew at a 6.4 percent annualized rate in the first quarter, leaving it within 1 percent of its pre-pandemic size. The growth comes as pandemic restrictions have come to an end and a third round of stimulus checks hit bank accounts. The rate of growth is higher than the 4.3 percent annualized growth in the last quarter of 2020. • Crop Rally Set to Continue Prices of commodities such as corn and soybeans have been on a tear year-to-date. Prices are at their highest levels since 2013, and estimates are that the rally still has room to run. The big driver is growth in China, although others have cited winter weather impacting planting season and inflation from monetary stimulus as another key reason for the move higher. • FDA Proposes Ban on Menthol-Flavored Cigarettes The FDA states that it will propose a ban on menthol-flavored cigarettes. These flavored versions of cigarettes have been seen as a way for consumers to get introduced to smoking. The FDA notes that the cigarettes are popular with minorities, who also have disproportionately higher levels of lung cancer and other smoking-related diseases. • Paxos Raises $300 Million at $2.4 Billion Valuation Blockchain infrastructure company Paxos has raised $300 million in Series D funding. The company is working to develop blockchain technology for business clients to allow them to offer cryptocurrency products for consumers. The company has been a key partner with PayPal (PYPL) as the payment giant has been implementing cryptocurrency access on its platform. • Amazon Looks to Raise Wages for 500,000 Workers Mega corporation Amazon (AMZN) has announced that it will raise wages anywhere from $0.50 per hour to $3.00 per hour for more than 500,000 workers. Despite the raise, the company will still be paying under $15 per hour, a level many politicians are clamoring for. The total investment for the extra salaries will come to over $1 billion in wages. Globally, Amazon employs 1.3 million. S&P 500 MOVERS TOP DISH 8.319% FB 7.297% TAP 6.998% GNRC 6.649% DXC 4.862% BOTTOM EBAY 10.029% PTC 10.028% F 9.413% NOW 9.375% HOLX 8.522% Quote of the Day The primary market trend remains positive. But we expect a choppier environment as tensions are set to persist between better economic growth and earnings prospects versus the potential for higher taxes and rising interest rates as the economy normalizes - Keith Lerner, chief market strategist at Truist, on why the stock market will likely continue higher, but at a slower pace and with more pullbacks than in the prior few months. Sponsored Content Buy These 3 Cryptos to Beat Bitcoin The cryptocurrency market is exploding in value right now… Bitcoin broke through $60,000…. And dozens of cryptos have gone up more than 1,000%... If you're ready to start capitalizing on this massive boom, legendary crypto investor Matt McCall just released a new free report, "3 Cryptos to Beat Bitcoin." You can claim your free report by clicking HERE. Not sure the best way to get started? 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