Good morning. Coinbase is expected to make its initial public offering today. Analysts have..
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 33,679.44 | -0.20% | | |  | S&P 4,141.66 | +0.33% | | | | NASDAQ 13,966.10 | +1.05% | | | | | *As of market close | | | • | Stocks traded mixed on Tuesday, with a rally in tech. | | | • | Oil rose 1.2 percent, to $60.44 per barrel. | | | • | Gold rallied 0.7 percent, at $1,745 per ounce. | | | • | Cryptocurrencies jumped higher, with Bitcoin last at $63,101. | | | | | | | |
| | | Over-the-Top Performance Shows the Value of this Tech Giant Play | | | | Nvidia (NVDA) has done it again. The graphics processing giant just took the thunder from a number of competitors by releasing the specs on its first line of data-center chips. That will open up an entirely new market for the company, and one with massive potential in a world driven by a need to quickly process big data.
The company also noted that it would likely exceed its revenue forecast, as the firm has been a beneficiary from the recent semiconductor shortage.
» FULL STORY | | | | |
| | Insider Trading Report: Discovery Inc (DISCA) | | | | Gunnar Wiedenfels, CFO of Discovery Inc (DISCA) bought 40,000 shares of the company last month. The buy increased his holdings by 400 percent, and occurred right before a hedge fund implosion triggered a selloff in shares.
Over the past year, company insiders have been net sellers of shares, as the company went from a price in the low $20 range into the $80 range before its selloff. Prior to the surge in the past year, insiders and sellers have generally been more even.
» FULL STORY | | | | |
| | Unusual Options Activity: Barclays PLC (BCS) | | | | British bank Barclays PLC (BCS) has been trending higher in the past six months, but the rate of the rally has started to slow in recent weeks. Traders seem to be sensing a weakness ahead for the bank.
That's based on the September $10 put. With 156 days until expiration, over 8,080 contracts traded against a prior open interest of 126, for a 64-fold rise in volume. The buyer of the puts paid about $0.80 for the trade.
» FULL STORY | | | | |
| | • | 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."
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| | | | • | Johnson & Johnson Vaccine Pulled on Blood Clots
A number of government agencies suggested putting a temporary halt on the Johnson & Johnson (JNJ) Covid vaccine. The halt comes as six (out of 6.8 million) have experienced a rare and severe blood clot. The news led to a drop in company shares, and dampened the early morning performance of stocks. While a number of Covid vaccines are available, JNJ was the first to develop a single-shot version. | | | | • | Inflation Rates Spike
Consumer prices rose by 2.6 percent in March. One big reason for the move higher was a 22.5 percent jump in the price of gasoline. Used vehicle prices also continued to rise, now up 9.4 percent compared to a year earlier, on stronger demand for vehicular travel. Policymakers maintain that this increase in prices will moderate on a fully open economy, and as supply chain issues are worked out. | | | | • | Landlords Lagging on Pandemic Aid
The combination of a spike in unemployment and a moratorium on evictions has made for a tough year for landlords. While stimulus funds have been allocated to address the issue, the myriad of federal, state, and local organizations in charge of issuing the funds have been overwhelmed, leading to delays. | | | | • | Grab Prepares for Record-Setting SPAC Deal
Singapore-based Grab, a private ride-hailing and delivery company, is looking to go public via a special purpose acquisition company, or SPAC. With a valuation at $40 billion, and with over $10 billion raised so far, the company looks to set the largest company to go public via a SPAC (so far). The SPAC deal would allow the company to raise $4.5 billion in cash for future expansion. | | | | • | NFT Sales Top $2 Billion
With more than two dozen companies now publicly admitting to having Bitcoin on their balance sheets, the cryptocurrency has gone mainstream. That's a far cry from an asset that was created to work around the challenges of the existing financial system. As the mass adoption appears to be continuing at a rapid pace, it may explain why recent Bitcoin pullbacks have been relatively smaller than drops in the past. | | |
| | | | TOP | | | TSLA | 8.596% | | | | ZM | 6.606% | | | | DHR | 3.407% | | | | WST | 3.203% | | | | NVDA | 3.094% | | | | BOTTOM | | | BEN | 5.246% | | | | PVH | 4.235% | | | | SYF | 3.917% | | | | MU | 3.599% | | | | DXC | 3.531% | | | | |
| | |  | | We remain positive but once we get to the end of this year and early next year, and we've worked through the supply chain bottlenecks and demand has normalized, as the economy opened up, we don't think it's a sustained source of inflation over the medium term. | | - Blerina Uruci, senior U.S. economist at Barclays, on why inflation concerns are likely at their highest right now and why inflation levels may taper off by the end of the year. | |
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