| | | | DOW 34,139.02 | +0.94% | | | | S&P 4,173.46 | +0.93% | | | | NASDAQ 13,950.22 | +1.19% | | | | *As of market close | | • | Stocks rallied on Wednesday, posting their first gains in 3 days. | | • | Oil dropped 2.6 percent, to $61.01 per barrel. | | • | Gold rose 0.9 percent, closing at $1,795 per ounce. | | • | Cryptocurrencies generally rose, with Bitcoin slightly down at $55,435. | | | | | | | | | | The King of Streaming Is Down, But Not Out | | | | Shares of Netflix (NFLX) took a dive in after-hours trading on Tuesday as the company reported earnings. While earnings were fine, subscriber growth slowed to 208 million. That's up 14 percent from a year before, but it's also a sign that the boost at the start of the pandemic is starting to wear off. Despite the selloff, shares of Netflix were a top media play in the past year, edging out other companies that have also gotten into the streaming space.
» FULL STORY | | | | | | Insider Trading Report: APA Corp (APA) | | | | Juliet Ellis, a director at APA Corp (APA) bought 4,545 shares last month. The buy increased her stake by 130 percent, and came to a total purchase price of $100,000. A company insider also sold shares around the same time, but throughout 2019 and 2020, all insider transactions at the company were bullish. Overall, company insiders own 0.3 percent of company shares. » FULL STORY | | | | | | Unusual Options Activity: Coty (COTY) | | | | Shares of cosmetics company Coty (COTY) have nearly tripled since November, on expectations that a reopening economy will be good for cosmetics sales. One trader sees the potential for a move even higher. That's based on the November $12 calls. Expiring in 211 days, over 9,100 contacts traded, an 81-fold rise in volume from the prior open interest of 112. The buyer of the options paid about $0.72 to make the trade.
» FULL STORY | | | | | | • | [Free eBook] Learn the Double Dutch Pattern
Rob Booker, a trading veteran of 20-plus years, uses one main pattern to identify his entries on bullish stocks. He calls it the Double Dutch, and in this free eBook, you can learn all about how he finds those trades. With this pattern, Rob targets short-term entries on hot stocks off a bounce, looking to ride the upward momentum. And after you read this eBook, you'll understand the same pattern he uses pretty much every day. Claim your FREE copy of the Quick Strike Double Dutch Trading Playbook here (Clicking this link registers you automatically for the event, and for periodic updates from Daily Profit Publishing - Privacy Policy.) | | | | • | Money Flows into Stocks Remain Slow
Money flows into stock funds have turned negative recently, following some aggressive flows in the past few months. Money managers have little funds to deploy, even as consumers have trillions of dollars in extra cash on the sidelines. With low fund flows, the stock market is likely to take a slower course higher, but could also see a quick turn down as well on a rise in outflows. | | | | • | Mortgage Demand Rises as Interest Rates Drop
Interest rates fell to a two-month low. While the stock market was concerned over rising rates, the real change in activity occurred in the housing market, as demand for mortgages slowed considerably. Now, with rates back down, homeowners are looking to refinance and lower their rate, now back to near all-time lows. After a year near such lows, refi rates are about 23 percent lower than a year ago, when rates were first lowered during the pandemic. | | | | • | Supply Chain Woes Hit Small Businesses
A number of small businesses have bene impacted by issues in the supply chain, from sourcing key inputs to delivering finished goods to customers. Some have managed to tweak their production methods to avoid higher costs, while others have had to spend considerably to preserve relationships. That's in contrast to larger companies, which have largely been raising prices to pass on costs to customers. | | | | • | Car Shortage Points to Sustained Increases in Price
The average new car price came in at $37,200 in the first quarter of the year, up 8.4 percent compared to a year ago. And nearly half of car buyers are paying within 5 percent of the sticker price. The culprit? Higher demand as more consumers have sought personal vehicles to avoid public transportation during the pandemic. Rising input costs on items like steel are also likely to keep prices higher for the foreseeable future. | | | | • | Deel Hits Unicorn Club
Remote hiring startup Deel has raised $156 million in Series C funding at a valuation of $1.25 billion. That puts the company into the unicorn club, and it indicates a 20-fold rise in growth for the company compared to last year. The company provides payroll, compliance, and other tools and software to help companies hire remote employees. | | | | | | TOP | | DISH | 10.979% | | | NCLH | 10.318% | | | ISRG | 0.896% | | | DISCA | 8.486% | | | VIAC | 7.727% | | | BOTTOM | | NFLX | 7.4% | | | HAL | 3.584% | | | OCL | 3.256% | | | NEE | 3.179% | | | NVR | 2.165% | | | | | | | | | Personally, I am happy to work six months of the year 'for the government' and six months for myself. But many who live in high-tax cities and states already pay even more than the 50 percent combined effective rate that that implies, and at some point, higher effective rates (federal, state, and local combined) become confiscatory, which should never be the ethos of this country. | | - Billionaire Leon Cooperman, in an open letter to Massachusetts senator Elizabeth Warren, on why he had no interest in discussing her Ultra-Millionaire Tax Act, a proposal to raise taxes on the wealthiest 100,000 homes in America. | | |
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