 | | |  | DOW 34,043.82 | +0.67% | | | | S&P 4,180.20 | +1.09% | | | | NASDAQ 14,016.81 | +1.44% | | | | | *As of market close | | | • | Stocks closed higher on Friday, with the S&P 500 closing at a record high. | | | • | Oil rose 1.1 percent, to $62.13 per barrel. | | | • | Gold declined 0.3 percent, closing at $1,776 per ounce. | | | • | Cryptocurrencies tanked on Friday, with Bitcoin trading down to $50,924. | | | | | | | |
| | | Revenue Miss Creates Buying Opportunity in Economic Recovery Play | | | | While earnings season has come in strong, a few misses have occurred. Within that group of stocks, some companies are likely to continue to struggle. Other firms, however, are demonstrating short-term issues that are likely to lead to higher prices in time.
One such name in the latter category is American Express (AXP). Shares dropped on Friday as the company reported solid earnings with better-than-expected profits. The issue? The company's revenues were a little on the low side.
» FULL STORY | | | | |
| | Insider Trading Report: Paramount Gold Nevada Corp (PZG) | | | | Rachel Goldman, CEO at Paramount Gold Nevada Corp (PZG) recently picked up 15,000 shares. The buy doubled her stake in the firm, and came to a total price of just over $15,500.
Insiders have been steady, incremental buyers of the gold mining venture over the past three years, upping their buys in early 2021. That includes both company insiders as well as major holders. Overall, insiders own nearly 22 percent of company shares.
» FULL STORY | | | | |
| | Unusual Options Activity: Micron (MU) | | | | Shares of chip giant Micron (MU) are still near their all-time highs, but sold off strongly on Thursday on reports of higher potential tax rates. One trader sees a clear rebound in the coming weeks.
That's based on the May $96 call options. With 26 days until expiration, over 12,321 contracts traded, a 108-fold jump in volume from the prior open interest of 112. The buyer of the calls paid about $0.62 to make the trade.
» FULL STORY | | | | |
| | • | Hydrogen-Powered Vehicles: 3 Stocks to Power Your Portfolio
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| | | | • | Gas-Tax Increase in the Cards for Infrastructure Funding
A bipartisan consensus is emerging to raise gasoline taxes as a way to fund infrastructure spending. The national gas tax is currently 18.4 cents per gallon, and has been set at that level since 1993. State gas taxes also add to the total cost per gallon. No specific higher rate has been suggested at this time, but the funds would be used for repairing roads, bridges, and other pieces of infrastructure. | | | | • | Supreme Court Limits FTC Powers Against Deceptive Practices
The Supreme Court ruled 9-0 in a case that limits the ability of the Federal Trade Commission (FTC) to extract relief for consumers from companies that are found to use deceptive practices. The opinion, written by Justice Breyer, notes that the agency needs to follow a remedy that follows administrative proceedings. | | | | • | SpaceX Launches Astronauts on Re-Used Dragon Spacecraft
SpaceX had its second official astronaut delivery mission for NASA, this time using the Crew-2 Dragon spacecraft. This spacecraft used re-flown components, including the first-stage booster used during the Crew-1 launch, and the Dragon capsule. SpaceX has been focused on finding ways to reuse spacecraft parts to dramatically cut down the costs of a launch. | | | | • | Green Energy Boom Hits Record
A record $501 billion poured into green energy investments in 2020, and the trend looks on track to continue. However, some are concerned as the pattern mirrors that of a decade ago, when many green energy projects ended up going bust. Given the lower costs of producing green energy compared to a decade ago and the amount of capital available, some companies may end up going bust, but the long-term trends are here to stay. | | | | • | Chipmaker Shortage Expected Through 2023
The new CEO of Intel (INTC) warned that the current shortage of chips may last another 2 years, through 2023. The news comes as a recovering economy and a boom in technology have created a surge in demand for semiconductor chips in everything from homes to cars to mobile gadgets. Intel reported solid earnings numbers and beat guidance, but warned that the shortage could shrink profit margins. | | |
| | | | TOP | | | SIVB | 8.715% | | | | STX | 6.03% | | | | XLNX | 5.346% | | | | AAL | 5.182% | | | | FCX | 5.181% | | | | BOTTOM | | | KMB | 5.858% | | | | INTC | 5.322% | | | | CLX | 3.338% | | | | CHD | 2.31% | | | | HON | 2.076% | | | | |
| | |  | | Things are getting more established. The more money that gets into the market, the less volatility there will be. And for the retail investors who are going in there, the strategy is always never to put everything in one basket and just put a very small fraction of your portfolio into cryptocurrency, into bitcoin. It doesn't matter if you are a strong believer or not, the diversification of your assets is key. | | - Eric Demuth, CEO and co-founder of digital asset broker Bitpanda, on why Bitcoin and cryptocurrency is an asset that's here to stay, even as the space is now going through another correction. | |
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