 | | |  Good morning. Typically, April 15th is the day taxes from the prior year are due. 2021, like 2020, has seen a delay in payment. Add in extensions, and you can float your payment to Uncle Sam for a year well into the autumn of the next.
Tax talk hasn't been too big in the past year. For those on the upward part of the K-shaped recovery, it's been withheld from their jobs as it's been made. For those on the lower end, there's been less made to tax, or even the lower tax rates on unemployment benefits. At some point, however, a recovering economy and a federal and state governments looking for revenue will want to make some changes. This year, you have another month to fund an IRA or Roth IRA, to keep a little less out of the government's hands.
Now here's the rest of the news:
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| | |  | DOW 33,732.21 | +0.16% | | |  | S&P 4,124.76 | -0.41% | | | | NASDAQ 13,857.84 | -0.99% | | | | | *As of market close | | | • | Stocks traded mixed on Wednesday, with tech reversing its gains from Tuesday. | | | • | Oil jumped 4.5 percent, to $62.89 per barrel. | | | • | Gold declined 0.6 percent, at $1,736 per ounce. | | | • | Cryptocurrencies jumped higher before dropping, with Bitcoin last at $62,080. | | | | | | | |
| | | Reopening Delays Bode Well for this On-Sale Sector | | | | A rise in Covid shutdowns internationally, combined with concerns over vaccine safety, may point to a prolonging of a full economic reopening. In any event, the past few weeks have caused a pullback in a number of recently high-flying names.
One of those areas is energy. While the sector is still up strongly for the year, the sector as a whole peaked in mid-March and has come back down. It's starting to look like a solid entry point for long-term investors.
» FULL STORY | | | | |
| | Insider Trading Report: Super League Gaming Corp (SLGG) | | | | Michael Keller, a director at Super League Gaming Corp (SLGG), recently bought 17,000 shares. The buy increased his stake by over 11 percent, and came to a total cost of just over $103,000.
This marks the first insider buy since December 2019. Over the past three years, insiders have all been sellers. That includes director and C-suite executive buys. Overall, insiders own about 12.5 percent of company shares.
» FULL STORY | | | | |
| | Unusual Options Activity: Nuance Communications (NUAN) | | | | AI speech company Nuance Communications (NUAN) moved higher on Monday as Microsoft (MSFT) announced it was buying the company. One trader sees the possibility for a bidding war that may lead to a higher price for shares.
That's based on the January 2022 $65 call. Over 5,145 contracts traded after the merger news, a 30-fold rise in the prior open interest of 171 contracts. The buyer of the option paid $0.33 on average to make the trade.
» FULL STORY | | | | |
| | • | [Free eBook] Learn the Double Dutch Pattern
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| | | | • | Cryptocurrencies Rally to All-Time High Ahead of Coinbase IPO
Bitcoin soared to over $64,500 before settling down in early morning trading ahead of the IPO for Coinbase (COIN). Retail trading in cryptocurrencies has been growing massively in the past year, as Coinbase showed in its pre-IPO revenue filings. The company has even managed to make a profit in the most recent quarter, something many companies going public have yet to do. | | | | • | Banks Kick Off Earnings Season By Beating Expectations
Several major banks reported their first-quarter earnings on Wednesday, with all of them beating expectations. Higher trading income from the retail rally at the start of the year helped boost the bottom lines of the likes of Goldman Sachs (GS) and JPMorgan Chase (JPM). | | | | • | Instagram Tests Feature to Hide Likes
Instagram, owned by Facebook (FB), has started testing a feature that allows users to hide the like counts on their posts. A similar test will be available on Facebook later in the week. The decision is based on feedback that allows users to control how their content is seen, as well as limit the impact of how little or much feedback a post receives. | | | | • | The Latest Challenge for Restaurants: Labor
With the economy reopening and with consumers having extra cash on hand, restaurants are now facing labor challenges. Lower-income workers may still be receiving enhanced unemployment benefits that are in excess of what they would earn at a low-wage job, particularly in one such as a franchise restaurant. Average wages for the restaurant industry are now near $13 per hour, before tips. | | | | • | Pozni Scheme Operator Bernie Madoff Dies at 82
Bernie Madoff has died in prison at the age of 82. He was sentenced to 150 years in 2009 for his role in creating a massive Ponzi scheme that eventually rose to $20 billion before he was caught in 2008. Last year, he petitioned for an early release based on his terminal kidney failure, but the request was rejected. | | |
| | | | TOP | | | FXC | 7.889% | | | | FANG | 6.045% | | | | NOV | 5.909% | | | | WFC | 5.529% | | | | EOG | 5.284% | | | | BOTTOM | | | DSICA | 4.953% | | | | DISCK | 4.888% | | | | ZM | 3.953% | | | | TSLA | 3.947% | | | | TWTR | 3.741% | | | | |
| | |  | | For a lot of people day-trading Coinbase, they'll be fixated on the price of bitcoin. For people who are long-term investors and see everything going on not just with bitcoin but with the 40, 50, 60, 100 tokens over time that enable all these other use cases, they'll realize that Coinbase is an index for the other things being built. | | - Roger Lee of Battery Ventures, a fund that invested in Coinbase in 2017, on why the company may perform well as a cryptocurrency brokerage and not as a proxy for the price of Bitcoin specifically. | |
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