Good morning. Inflation fears have risen over the past few weeks. With the amount of new money..
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 34,082.11 | +0.55% | | | | S&P 4,159.24 | +1.06% | | | | NASDAQ 13,535.74 | +1.77% | | | | *As of market close | | • | Stocks rallied on Thursday, with all three indices reversing a three-day loss. | | • | Oil declined 2.3 percent, closing at $61.95 per barrel. | | • | Gold dropped 0.2 percent, to $1,877 per ounce. | | • | Cryptocurrencies traded flat, with Bitcoin last at $39,835. | | | | | | | | | | Corporate Trends Support this Cloud Powerhouse | | | | Companies solving problems related to remote work trends fared well at the start of the pandemic. While that's ending, a few companies are likely to be able to continue carrying on their success. One such company is Salesforce (CRM). The company was recently given an upgrade to an overweight rating, as shares are at a solid discount from their peak and the enterprise software company is likely to continue consolidating its market share.
» FULL STORY | | | | | | Insider Trading Report: Corning (GLW) | | | | Roger Ferguson, a director at Corning (GLW), recently bought 1,399 additional shares. The buy increased his holdings by nearly 52 percent, and came to a total purchase price of just under $43,000. This marks the first insider buy in three years, and as shares are at a multi-year high. Prior insider activity shows a deluge of sales from company executives. This is the first insider activity from any director in the past three years as well. » FULL STORY | | | | | | Unusual Options Activity: Tesla Motors (TSLA) | | | | Electric car manufacturer Tesla Motors (TSLA) has been out of favor with the markets in recent weeks. At least one trader sees further short-term weakness. That's based on a number of unusual options trades. The June 11 $480 put is one such trade. Over 3,580 contracts traded from a prior open interest of 180, for a 20-fold rise in volume. The buyer of the option, which expires in 21 days, paid about $7.95 for the contract.
» FULL STORY | | | | | | • | What Others Say About the VOMMA Zone…
Let's keep this short today… Chaotic financial forces seem to be surrounding us from every side… Rogue "Reddit" Armies… Money Printing Maniacs at the Treasury… Power-Grabbing Politicians... ...who to their eternal shame, didn't miss a single paycheck during the pandemic… yet only threw a handful of nickels at those who did. So it's no surprise that people are seeking some stability and asking me… "What's the fastest path to create reliable monthly income from the stock market?" No matter your experience level or your account size - here's my answer. And it's exciting because it's the only way I know of to potentially multiply your money by as much as 50% each month... Click HERE to Discover How this VOMMA Zone Could Become the Most Prosperous, Positive Period of Time in Your Life! (By clicking the links above you agree to receive email updates and special offers from Trader News Media.) | | | | • | Jobless Claims Slide to Pandemic Low
Initial unemployment claims slid to 444,000, the lowest level since March 2020 at the start of the pandemic. The total number of people receiving pandemic-related aid has dropped to 16 million from 16.9 million as well. The drop is occurring as many states are dropping the extra $300 weekly unemployment aid. | | | | • | Cryptocurrencies Maintain Bounce
After dropping over $10,000 in a day for the first time, Bitcoin rebounded by more than $10,000 as well. Hitting $42,000 yesterday, Bitcoin managed to soar 40 percent off its lows from the day before. The total drop from the peak marks the sixth-largest pullback in Bitcoin, and many are starting to see a potential move higher ahead. | | | | • | Gold Shines Amid Crypto Slide
Gold prices have been trending higher in recent days. While still below the highs from last August around $2,063 per ounce, it has held up well as cryptocurrency prices have pulled back. That's leading some to tout gold's potential returns here, especially with inflation concerns on the rise and gold's historic role as an inflation hedge. | | | | • | Microsoft Ending Support for Internet Explorer
Microsoft (MSFT) has announced that it will end support for Internet Explorer on June 15, 2022. That will mark the official end of the web browser, which has been around for 26 years. Once the most-used browser, it fell below 50 percent of the market share in 2010 and now sits at about 5 percent. | | | | • | Robinhood Reports Strong Growth Ahead of IPO
Robinhood reported that its payment for order flow (PFOF) revenues increased considerably in the first quarter of the year. Given the backdrop of a frenzy in retail trading surrounding GameStop (GME) and others, that's no surprise. This data indicates that the company's strong trading revenues will allow it to go public later in the year. | | | | | | TOP | | ENPH | 8.533% | | | NTES | 7.99% | | | HRL | 7.374% | | | VIAC | 4.611% | | | ZM | 4.59% | | | BOTTOM | | RL | 7.005% | | | DISCK | 4.059% | | | GPS | 4.007% | | | LB | 3.907% | | | M | 3.887% | | | | | | | | | You need to reset expectations. The areas that have been doing well, the cyclical areas — they just need to take a little bit of a break. Nobody thought that you would see a stall-out in some of the mega cap infotech names. Yet, they're at the same prices back then even with way better fundamentals. | | - Tony Dwyer, analyst at Cannacord Genuity, on why the market may be in the start of a possible correction of 10 percent, and why traders may want to avoid overly aggressive trades right now. | | |
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