Good morning, and Happy Memorial Day. The market returns of the past few years have been driven by..
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 34,530.37 | +0.19% | | | | S&P 4,204.32 | +0.08% | | | | NASDAQ 13,748.74 | +0.09% | | | | *As of market close | | • | Stocks traded higher into the holiday weekend, with the Nasdaq just barely closing higher. | | • | Oil declined 0.4 percent, closing at $66.59 per barrel. | | • | Gold rallied 0.4 percent, to $1,907 per ounce. | | • | Cryptocurrencies mostly dropped, with Bitcoin last at $35,938. | | | | | | | | | | Cloud Services Remain Strong in the Post-Pandemic Era | | | | Traders may be shifting towards airlines, cruise ships, and reopening movie chains as the world settles into a post-pandemic recovery. But many changes that occurred are likely to remain. One of those is the shift towards cloud services that started last year. As the work-from-home era likely won't go back to the pre-pandemic levels of being in the office, it's no surprise that many cloud names in tech have been reporting solid earnings in the first quarter of 2021.
» FULL STORY | | | | | | Insider Trading Report: Peloton Interactive (PTON) | | | | TCV X Cycle LP, a major owner of Peloton Interactive (PTON), has been adding to their stake. They made two separate buys last week, one for 39,388 shares, and one for 16,492 shares. The two buys increased the fund's stake in the firm by nearly 3 percent. This adds to other buys made by the fund earlier in May as well, totaling over $9.5 million. Outside of this fund buy, company insiders have generally been sellers since the company went public. » FULL STORY | | | | | | Unusual Options Activity: AMC Entertainment Company (AMC) | | | | Shares of movie theater chain AMC Entertainment Company (AMC) are leading a new potential retail short squeeze higher. Naturally, that's caused some traders to expect the company to crater down in the coming days, weeks or months. With a number of put options on the company leading unusual option activity by volume, the August $18 puts are the most interesting for a potential post-squeeze drop.
» FULL STORY | | | | | | • | Why July 27th Could Set Off A "Tech Boom" In Stocks
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.) | | | | • | Personal Spending Rises 0.5 Percent In April
Money flows into stock funds have turned negative recently, following some aggressive flows in the past few months. Money managers have little funds to deploy, even as consumers have trillions of dollars in extra cash on the sidelines. With low fund flows, the stock market is likely to take a slower course higher, but could also see a quick turn down as well on a rise in outflows. | | | | • | Biden Proposes $6 Trillion Spending Plan
The bond market has been somewhat unfazed this year by government spending levels. That trend looks set to continue as the Biden administration looks set to unveil a $6 trillion budget. The budget would far exceed tax revenues, even if proposed tax increases were made. In theory, this could cause the bond market to panic and for interest rates to soar, but there's no sign of that quite yet. | | | | • | Jobless Benefits Expire in 24 States in June and July
24 states have moved to end the extended federal unemployment benefits that are currently set to expire in September. Those states will phase out of that extra $300 per week by July. The reduction in extra payment occurs months after states have started reopening and many businesses are having trouble finding workers given the extra financial boost for staying unemployed right now. | | | | • | Tesla Activates In-Car Camera for Autopilot Users
Tesla Motors (TSLA) has enabled a feature to activate its in-car camera when drivers are using the Autopilot mode. The driver assistance tool is not a complete self-driving tool, and only aids with driving. The camera will be able to detect driver attentiveness to help reduce potential accidents while the feature is in use. | | | | • | Bitcoin Set to Close Worst Month in 10 Years
Cryptocurrencies corrected heavily in May, with Bitcoin seeing its worst monthly decline since September 2011. As part of a broader selloff that's been the sixth-worst for the cryptocurrency, prices are down more than half from their all-time high set in April, and down 36 percent in May alone. Many have pointed out that these corrections are normal for the cryptocurrency. | | | | | | TOP | | CRM | ULTA% | | | NVDA | 4.884% | | | ULTA | 5.177% | | | XLNX | 3.235% | | | TCOM | 2.927% | | | BOTTOM | | HPQ | 8.941% | | | GPS | 4.836% | | | M | 3.127% | | | DLTR | 2.607% | | | COST | 2.382% | | | | | | | | | Sooner rather than later I think it would be wise to start talking about moderating some of these purchases that we put in place during the crisis. I think maybe the efficacy of these vs. the side effects, I think that balance is changing as we're emerging from the crisis and making progress. | | - Robert Kaplan, Dallas Federal Reserve President, on why the central bank may need to start tapering its asset purchases now, even as it looks to avoid a big market disruption by raising interest rates. | | |
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