Good morning. When it comes to investing, it can pay to look where investors aren't. A few months...
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 34,311.73 | -0.24% | | | | S&P 4,188.17 | -0.21% | | | | NASDAQ 13,657.17 | -0.03% | | | | *As of market close | | • | Stocks dipped slightly on Tuesday, after starting the day with a slight gain. | | • | Oil dropped 0.3 percent, closing at $65.82 per barrel. | | • | Gold rose 0.8 percent, to $1,899 per ounce. | | • | Cryptocurrencies dropped, with Bitcoin last at $37,486. | | | | | | | | | | This Payments Giant Has Thrived Amid the Cryptocurrency Crash | | | | A number of payments companies have started embracing cryptocurrencies in the past year, starting with Bitcoin. Some of those companies have struggled in recent weeks as the rapid moves in the cryptocurrency have had large swings in how these companies are valued. However, PayPal (PYPL) has held up more strongly than other names. That's even as the company, along with its other division Venmo, has moved to increase its cryptocurrency trading abilities for customers in the past few months.
» FULL STORY | | | | | | Insider Trading Report: AT&T (T) | | | | Pascal Desroches, a senior executive VP at AT&T (T), recently bought another 19,976 shares. The buy increased the VP's stake by nearly 12 percent, and came to a total price just under $589,000. Company CEO John Stankey also bought 34,614 shares on the same day. The CEO paid just over $997,000 to add to his stake. Overall, insiders own just 0.1 percent of company shares. » FULL STORY | | | | | | Unusual Options Activity: Ballard Power Systems (BLDP) | | | | Fuel cell energy company Ballard Power Systems (BLDP) saw shares rally to a speculative high back in February over $40, only to slide lower. One trader sees the potential for an even further drop in shares, despite a rally in recent sessions. That's based on the June 18 $13 puts. With 23 days left to trade, over 46,524 contracts traded against a prior open interest of 104, for a staggering 447-fold rise in volume.
» FULL STORY | | | | | | • | Man Who Predicted 2020 Crash Issues Huge Warning
Wall street insider Chris Rowe says, "fortunes will be made, and lost… in what will go down as the greatest stock market event in the last 20 years." You need to see this ASAP. (Clicking above will opt you in to receive emails from True Market Insiders - Privacy Policy.) | | | | • | Home Prices Jump at 13.3 Percent Annual Rate
Home prices continued trending higher, with a 13.3 percent annual increase based on March. That's higher than estimates for 12.4 percent. The steep rise is being blamed on tight supply and high competition among buyers. | | | | • | Exxon Faces Activist Showdown
Energy giant ExxonMobil (XOM) is fending off an activist campaign, where four board seats may be up for grabs. If the activists succeed, they want to put the company on a path to be carbon neutral by 2050. The proxy fight has become the most expensive in history, with Exxon spending $35 million to educate shareholders, and the activists spending $30 million to persuade shareholders. | | | | • | DC Attorney General Sues Amazon on Antitrust Grounds
The attorney general for Washington DC announced that he's suing Amazon (AMZN) on antitrust grounds. Specifically, the company has allegedly and unfairly raised prices for consumers and suppressed innovation as a result. The suit is looking to recover damages and impose penalties. | | | | • | Propy Launches First Auction of Real Property as NFT
Propy, a blockchain startup, is starting the first-ever auction of a real piece of property, which will be sold as a collectible NFT. The company uses blockchain technology to secure real estate sales. The apartment is a new one-bedroom, one-bath in Kiev, Ukraine, which was also the first-ever blockchain-based real estate sale. | | | | • | Fed Raises Groundwork for Digital Dollar
Federal Reserve Board of Governors member Lael Brainard laid out the argument for a central-bank-backed digital currency as a way of creating a more efficient payment system. Such a currency could also help Americans who are underserved by traditional banks. The Fed is set to issue a paper this summer on the benefits and risks of a digital dollar. | | | | | | TOP | | NVR | 3.947% | | | RCL | 3.645% | | | NCLH | 3.561% | | | SNPS | 2.917% | | | CCL | 2.437% | | | BOTTOM | | STX | 4.738% | | | APA | 4.502% | | | EIX | 4.489% | | | BKR | 4.016% | | | HFC | 3.684% | | | | | | | | | Evidence that inflation fears were calming in the bond and commodity markets began to drive the stock market late last week and has continued into [Monday]. Growth stocks, including technology have regained leadership as yield and inflation fears ease. | | - Jim Paulsen, chief investment strategist at the Leuthold Group, on why inflation fears may start to wane, and as a result, why the stock market may be about to see its next leg higher. | | |
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