😣 Markets Grow Doubtful on Spending and Inflation

Good morning. The stock market is forward-looking. So when looking at the price tag of proposed..

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 stock market is forward-looking. So when looking at the price tag of proposed legislation like a multi-trillion spending bill, there's usually some concern. Ditto with proposals to raise tax rates. Yet Treasury bonds have sold off a bit, and fears of higher persistent inflation are starting to wane. The news also comes as it appears that any big government spending bills will likely face a lot of changes before being passed into law. With Congress narrowly divided, the fewer big changes on the horizon make it easier for businesses to plan. The rise of gridlock, or at least muted new spending, indicates that markets may still be capable of moving far higher in the months to come. Now here's the rest of the news: Sponsored Content The 32-Second Options Trading "Training Video" Retirees Can't Get Enough Of Options expert Jeff Clark is on a mission to show every American at or near retirement how easy it is to trade options. Watch his 32-second options trading "training video" HERE. MARKETS DOW 33,430.84 -0.29% S&P 4,073.82 -0.10% NASDAQ 13,698.38 -0.05% *As of market close • Stocks closed lower on Tuesday, with stocks closing near lows of the day. • Oil rose 1.2 percent, to $59.35 per barrel. • Gold prices rose 0.8 percent, at $1,742 per ounce. • Cryptocurrencies generally rose, but Bitcoin traded down to $58,462. Today's TOP TIPS Buybacks Bode Well for this Key Tech Supplier Stock buybacks have had mixed results. But companies that are able to buy back shares at this point in the economic recovery are likely companies that are doing something right. Case in point? Corning (GLW). The high-end glass supply company, responsible for products such as smartphone screens, is looking to buy back a 35 million share block held by Samsung Display. The block represents about 4 percent of outstanding shares. » FULL STORY Insider Trading Report: Republic Services Inc (RSG) Cascade Investments, a major owner at Republic Services Inc (RSG), recently bought 10,055 more shares. The buy came to just under $1 million, and increased the fund's holdings by 0.01 percent. Cascade Investments is the fund managing the stock market investments of Bill Gates. This is the first insider buy since late 2018. Insiders have mostly been sellers since then, particularly C-suite executives. Among company insiders, less than 0.2 percent of shares are owned. » FULL STORY Unusual Options Activity: Applied Materials (AMAT) Semiconductor play Applied Materials (AMAT) has more than doubled since November. One trader sees the trend continuing. That's based on the June $185 calls. Expiring in 72 days, over 9,000 contracts traded against a prior open interest of 150, for a 60-fold rise in volume. Shares would need to rise about 22 percent from their current price of $143 to close in-the-money at expiration. » FULL STORY IN OTHER NEWS • Man Who Predicted 2020 Crash Issues Huge Warning Wall street insider Chris Rowe says, "fortunes will be made, and lost… in what will go down as the greatest stock market event in the last 20 years." You need to see this ASAP. (Clicking above will opt you in to receive emails from True Market Insiders - Privacy Policy.) • 150,000 Stores Could Close By 2026 Although the pandemic is ending, the massive shift towards ecommerce could still lead to tens of thousands of stores closing, with as many as 150,000 by 2026. While that may not mean a wave of bankruptcies, it may mean the strategic closing of many retail locations with the poorest sales, particularly in malls. • SPAC Selloff Creates Unique Opportunity Starting the year on a wave of euphoria, SPACs (special purpose acquisition companies) tended to trade at a 20-30 percent premium to their cash on the books even without an announced deal. Now, thanks to a selloff in the SPAC space, traders can buy several names under $10 per share— or less than the value of the cash per share right now. • Unicorn OneStream Hits $6 Billion Valuation Enterprise financial software company OneStream has just raised another $200 million at a valuation of $6 billion. The company's focus on digital transformation has led to a surge in revenue over the past year. The company plans to use the funding to continue building out its business, and for the moment appears to prefer to remain private. • Credit Suisse Takes $4.7 Billion Hit on Archegos The implosion of hedge fund Archegos has impacted several of its counterparties as well. Credit Suisse announced a $4.7 billion hit from the fund's implosion. The overall impact will likely result in a first-quarter loss of $960 million for the bank. Two executives, the Investment Bank's division CEO and the Chief Risk and Compliance Officer are also stepping down. • Small Businesses Support Antitrust Action on Amazon Citing unfair business practices, several groups representing thousands of businesses are reaching out to congressional representatives asking for stricter antitrust enforcement against Amazon (AMZN). Talk of regulating big tech has become common in recent years, with no action yet. Amazon has been accused of numerous practices over the years that suggest it's working to stifle competition. S&P 500 MOVERS TOP ILMN 7.88% ENPH 5.689% NCLH 4.611% ETSY 4.468% TWTR 4.296% BOTTOM PAYX 4.922% TRIP 4.49% PENN 2.574% AMAT 2.454% KLAC 2.388% Quote of the Day They want a full recovery and they will wait it out. That said, the concern is not just what we're getting in stimulus but whether you get additional stimulus in infrastructure. The Fed is not going to put that in their forecast until they see it, but the bond market is front-running that. - Diane Swonk, Chief Economist at Grant Thornton, on why the Fed is risking higher levels of inflation with its current policies, even as economic data for the spring is set to look strong. Sponsored Content The 32-Second Options Trading "Training Video" Retirees Can't Get Enough Of Options expert Jeff Clark is on a mission to show every American at or near retirement how easy it is to trade options. Watch his 32-second options trading "training video" HERE. Not sure the best way to get started? 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