| | | | DOW 34,742.82 | -0.10% | | | | S&P 4,188.43 | -1.04% | | | | NASDAQ 13,401.86 | -2.55% | | | | *As of market close | | • | Stocks closed lower on Monday, as declining tech stocks dragged down other indices as well. | | • | Oil traded flat, closing at $64.84 per barrel. | | • | Gold rallied 0.4 percent, closing at $1,838 per ounce. | | • | Cryptocurrencies traded lower, with Bitcoin last at $54,071. | | | | | | | | | | Don't Ignore the Power of 5G Amid the Tech Slump | | | | While tech stocks have been out of favor the past few months, companies continue to innovate and roll out new products. Some are mere ideas, others are on the cusp of massive profitability. The 5G network is in the second category. It's been discussed for years, and started slowly rolling out shortly before the pandemic started. With an end to the pandemic, it's likely to speed up, and one company stands to dominate no matter how the sector unfolds.
» FULL STORY | | | | | | Insider Trading Report: Weyerhaeuser Co (WY) | | | | Nancy Lowe, CFO of Weyerhaeuser (WY) recently bought 10,000 more shares. The buy increased her stake by over 46 percent, and came to a purchase price of just over $385,000. Insiders have been active buyers and sellers in the past few years, with large insider buys at the pandemic low last year giving buyers an edge. Overall, insiders own just 0.2 percent of company shares. » FULL STORY | | | | | | Unusual Options Activity: Palantir Technologies (PLTR) | | | | Big data firm Palantir Technologies (PLTR) has lost half its value from a speculative peak earlier in the year. One trader sees a rebound in the coming weeks. That's based on the June 11 $24.50 calls. Expiring in 31 days, over 3,900 contracts traded against an open interest of 201, for a 19-fold rise in volume. With shares trading around $20 in recent sessions, the option would move in-the-money on a 20 percent move higher in shares.
» FULL STORY | | | | | | • | Shortcut to the Very Best Stocks in the Market Right Now! This is investing legend and IBD founder, William J. O'Neil and here's how he is going to help you make money in stocks. Get free stock trading lessons from Investor's Business Daily, the leader in investing education for over 35 years. >> Click here for your FREE copy now<< (By clicking links above you agree to receive email updates and special offers from Investors Business Daily.) | | | | • | Gas Future Rise on Pipeline Cyberattack
A cyberattack shut down a key pipeline between Texas and the East Coast. The shutdown affects nearly 45 percent of the fuel supply to the East Coast. While oil price dipped during trading, gasoline futures climbed somewhat. The move was muted thanks to relatively high oil and gas inventories. | | | | • | ESG Investing to Top $1 Trillion by 2030
ESG Investments—short for environmental, social and governance—could top $1 trillion by 2030. Funds with an ESG focus saw a $21 billion inflow of funds in the first quarter of the year. ESG funds can vary in what investments they do or don't accept based on various criteria, and whether they're considered a growth or value play within the ESG space. | | | | • | Ethereum Tops $4,000
While meme cryptocurrency Dogecoin sold off following Elon Musk's appearance on Saturday Night Live, altcoins (non-Bitcoin cryptos) continued their move higher. Ethereum topped $4,100, a record high. It's up over 30 percent in the past week and 465 percent year-ot-date. Ethereum has become the platform of choice for non-fungible tokens, or NFTs, which have seen an explosion in sales this year. | | | | • | Used Car Market Likely to Remain Tight
Used car prices continue to edge higher. The average price of a preowned vehicle hit $25,463 in April, about $2,800 higher than the same price point a year ago. The combination of demand for cars and a global chip shortage impacting new car production is keeping used car sales higher than average, a trend likely to last through the end of the year. | | | | • | Snack Opens Up to Investors
Gen-Z dating app Snack is opening up to investors with a $2 million SAFE offering. That's on top of the $3.5 million the app has raised in seed capital. Snack offers TikTok-style video feeds for users looking to showcase their interests. Other dating apps are based off of either mobile apps, or Google-like functions. | | | | | | TOP | | VTRS | 6.818% | | | LYV | 3.877% | | | MAC | 3.275% | | | BDX | 3.024% | | | KR | 2.995% | | | BOTTOM | | ALGN | 7.327% | | | LRCX | 6.992% | | | QRVO | 6.901% | | | GNRC | 6.772% | | | MELI | 6.535% | | | | | | | | | To average 2% you've got to be above 2% for some period of time. So inflation rates of 2.5% don't bother me as long as it's consistent with averaging 2% over some period of time. | | - Charles Evans, Chicago Federal Reserve President, on why the Fed will likely take longer to act to raise interest rates and provide additional support to the economy, even with inflation indicators perking up. | | |
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