Good morning. A large crack has appeared on the Hernando DeSoto bridge. Spanning the Mississippi..
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 34,382.07 | +1.06% | | | | S&P 4,173.80 | +1.49% | | | | NASDAQ 13,429.98 | +2.32% | | | | | *As of market close | | | • | Stocks rallied into the weekend, with all major indices moving higher. | | | • | Oil rose 2.5 percent, closing at $65.40 per barrel. | | | • | Gold rose 1 percent, closing at $1,843 per ounce. | | | • | Cryptocurrencies generally rallied, with Bitcoin last at $50,245. | | | | | | | |
| | | Pandemic-Driven Profits Have Slowed, But Reopening Profits Loom | | | | Many companies were able to quickly shift to changing consumer needs during the pandemic. For entertainment companies, the rise of streaming services from nearly every studio has proven a boon.
That was the case with The Walt Disney Company (DIS). Despite a record-long shutdown of many of its parks and cruise ships, a surge in streaming subscribers allowed shares to head to new highs. In fact, the trend was so strong the company hit its 5-year streaming subscriber goal in its first full-year of service.
» FULL STORY | | | | |
| | Insider Trading Report: American Homes 4 Rent (AMH) | | | | Wayne Hughes, a major holder at American Homes 4 Rent (AMH), recently bought an additional 54,000 shares. The buy increased his stake by 0.3 percent, and came to a purchase price just under $2 million.
Hughes has been a regular buyer over the past year. Other company insiders bought last March, near the pandemic low. Otherwise, insiders have generally been sellers over the past year. Overall, company insiders own nearly 15 percent of shares.
» FULL STORY | | | | |
| | Unusual Options Activity: Las Vegas Sands (LVS) | | | | Casinos have been a hot gamble with investors over the past year. Pandemic-driven shutdowns led to a collapse in business. But speculation on reopening has been good for the space. One trader sees room for a further rally in Las Vegas Sands (LVS).
That's based on the August $60 calls. Expiring in 95 days, and with shares near $56, the trade would move in-the-money if shares rallied less than 10 percent higher from here.
» FULL STORY | | | | |
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| | | | • | Retail Sales Come in Flat
Retail spending, which makes for the bulk of economic activity, came in flat in April compared to March. Expectations were for a 1 percent increase. However, March's data was revised upward to 10.7 percent from 9.8 percent, as the last round of stimulus checks hit the economy. | | | | • | Banks Ease Restrictions on Credit Card and Auto Loans
Banks are reducing the credit-score requirements for loans such as credit cards and auto loans. The easing of restrictions comes after most banks tightened during the pandemic to head off potential loan losses. The reduction level on personal loans hit a record, and for auto loans, the reduction makes for the highest ease of lending in 8 years. | | | | • | Tesla Still Pushing for Self-Driving Cars
Electric car maker Tesla Motors (TSLA) is pushing ahead with fully autonomous vehicles. The news comes a month after a fatal crash from one of the company's cars using its "autopilot" mode. The autopilot feature isn't full autonomy, and drivers are cautioned to take over driving as the need arises. | | | | • | Cisco Goes on Acquisition Binge
Tech giant Cisco Systems (CSCO) bought three companies last week. The firm has bought Kenna, a startup using machine learning to asses threat data on a daily basis. The company also announced last week its intent to acquire Sedona Systems, and Socio Labs. All three companies will give Cisco a bigger footprint in cybersecurity. | | | | • | Dogecoin Millionaire Buys the Dip
One investor who put $185,000 into cryptocurrency Dogecoin in February became a millionaire last month as the coin surged higher. Following a big drop last week, Glauber Contessoto invested another $17,000, and has seen a rebound in his holdings to $2 million. He sees further gains ahead, as the cryptocurrency remains popular among younger crypto investors. | | |
| | | | TOP | | | STX | 12.441% | | | | WDC | 8.287% | | | | CCL | 8.28% | | | | NCLH | 8.094% | | | | RCL | 7.405% | | | | BOTTOM | | | FOXA | 3.82% | | | | DIS | 2.602% | | | | FOX | 2.158% | | | | ABC | 2.101% | | | | HRL | 1.771% | | | | |
| | |  | | Higher inflation is likely to remain in the spotlight as the post-pandemic recovery accelerates. But while we expect inflation fears to generate bouts of volatility, and we continue to position for reflation, we also see such market swings as an opportunity to build exposure to structural winners. | | - Mark Haefele, chief investment officer at UBS Global Wealth Management, on why inflation is likely to run at its highest rate in years for some time, but why it may create buying opportunities in high-quality companies capable of passing on higher costs to customers.  | |
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