😜 This Isn’t the “Fight For $15” Anyone Expected

Good morning. With a record 8.1 million job openings, it's clear that businesses need labor. But..

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.

Good morning. With a record 8.1 million job openings, it's clear that businesses need labor. But right now, labor has a system to game. We've already seen that an extra $300 per week of federal unemployment on top of state unemployment can make for $600 or more per week. Over a 40 hour workweek, the math says that's $15 per hour. With most minimum wages below that nationally, it's clear to see that not working is what pays best right now for many low-skilled workers. President Biden has weighed in on the matter, downplaying the effect the extra unemployment benefits are causing. He's also stated that anyone who has a suitable job offer needs to get back to work. Without defining the word "suitable," however, it's clear that the system can still be gamed. Expect the labor market to remain out of whack as long as extended benefits remain available. Now here's the rest of the news: Sponsored Content Your FREE Guide to the Year's Ten Best Plays in Tech Is Here The man who found AMD before it soared 4,170%... NIO before it skyrocketed 2,693%... and Chegg before it launched 1,467% has just unleashed his boldest prediction yet: TEN stocks he believes have 10X potential. The best part? You can get the details for FREE. MARKETS DOW 34,270.35 -1.36% S&P 4,152.09 -0.87% NASDAQ 13,389.43 -0.09% *As of market close • Stocks closed lower on Tuesday, although tech fared relatively better. • Oil rose 0.7 percent, closing at $65.36 per barrel. • Gold traded flat, closing at $1,838 per ounce. • Cryptocurrencies moved higher, with Bitcoin last at $56,646. Today's TOP TIPS Pipeline Shutdown Puts Cybersecurity in the Spotlight Colonial Pipeline shut down on Friday following a ransomware attack. The pipeline moves about 45% of the fuel used in the Northeast from facilities in Texas. The company has a tentative date to restore operations by Friday, leaving the pipeline off for a whole week. The impact is raising gasoline prices and the possibility of shortages in some areas, but also bringing an eye once again towards cybersecurity companies. » FULL STORY Insider Trading Report: Lumber Liquidators (LL) Joseph Nowicki, a director at Lumber Liquidators (LL), recently bought 6,274 shares. The buy increased his holdings by 258 percent, and came to a total purchase price of $150,000. This is the first insider buy since last August. Since 2019, company insiders have been exclusively buyers. This is the first purchase from a director since 2014. Overall, company insiders own nearly 5 percent of the company. » FULL STORY Unusual Options Activity: Micron Technology (MU) Shares of semiconductor company Micron Technology (MU) have been caught up in the recent tech selloff. One trader sees the potential for a bounce higher in the near future. That's based on the August $82.50 calls. Over 12,730 contracts traded, a 35-fold rise in volume from the prior open interest of 360 contracts. The buyer of the option paid $6.25 to make the trade, which expires in 100 days. » FULL STORY IN OTHER NEWS • 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.) • US Job Openings Reach Record High There were a record 8.1 million job openings in March. That exceed the prior record of 7.6 million set in November 2018. Openings were concentrated in warehouses, factories, and restaurants, reflecting a demand for lower-skilled labor. This growth has occurred as hiring has slowed. • Several States See Gas Shortages Following Pipeline Shutdown Stockpiling by drivers on the East Cost has led to a 20 percent jump in demand for gasoline in recent days. Coupled with the shutdown of a major pipeline supplying nearly half the region, shortages have started from Georgia to Virginia. Some states have started declaring emergencies to deal with the situation. • Druckenmiller Warns on Fed Billionaire investor Stanley Druckenmiller warned that the Fed's policies designed to keep the economy going could threaten the US dollar's world reserve status. With a thriving economy, added stimulus and zero percent interest rates could threaten to cause the economy to overheat, and the latest inflation fears may just be the latest warning. • L Brands Looks to Spin off Victoria's Secret L Brands (LB) is looking to spin off Victoria's Secret from its existing Bath & Body Works brand. The company believes the two companies would work best as separate entities, and a spinoff would create more value for shareholders than an outright sale. • Bezos Buys $500 Million Yacht Billionaire Jeff Bezos has bought a 417-foot superyacht. The vessel, currently under construction, is simply known as Project 721. It includes a helipad, as well as a "support yacht." With a net worth closing in on $200 billion, the cost is negligible for the billionaire. The news comes as boat sales hit a 13-year high in 2020. S&P 500 MOVERS TOP NLOK 10.769% FCX 4.82% ZM 3.424% BIDU 3.424% NOW 3.149% BOTTOM HBI 11.964% OXY 7.886% PXD 5.896% HPQ 4.709% DHI 4.643% Quote of the Day Clearly 2020 was a phenomenal year for cloud-computing companies as we entered that work-from-home economy. I really think there is a misconception that as we reopen the economy, we are all going to stop using cloud-computing solutions, and that's not really true. - Pedro Palandrani, research analyst at Global X, on the recent selloff in cloud-based tech stocks relative to the overall market and why the move looks overdone. Sponsored Content Your FREE Guide to the Year's Ten Best Plays in Tech Is Here The man who found AMD before it soared 4,170%... NIO before it skyrocketed 2,693%... and Chegg before it launched 1,467% has just unleashed his boldest prediction yet: TEN stocks he believes have 10X potential. The best part? You can get the details for FREE. Not sure the best way to get started? 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