🔥 As Commodities Turn South, This One Is Just Heating Up… 🔥

Good morning. China announced it was unleashing its strategic reserves of some commodities. That..

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. China announced it was unleashing its strategic reserves of some commodities. That help broke a strong uptrend for many goods such as iron ore. In the US, strong production and a slowing demand for houses has helped curb the excesses in the lumber market, which is now far off its peak. With most commodities still coming off highs, one is still coming in hot: literally. Hot rolled steel prices have hit a record high. This high-grade steel is moving higher in anticipation of an infrastructure bill passing in the coming weeks and new construction projects coming online later in the year. Time will tell if that's the outcome, but higher steel prices can still create some shortages throughout the rest of the economy. Now here's the rest of the news: Sponsored Content Just $19 –That's It. "Hi, my name is Jeff Clark. For the past 36 years, I've shown people from all walks of life how to make money in the markets. Retired stockbrokers... presidents of companies... people with almost no financial experience... and everything in between. But I haven't done it the usual way… My method is different. It's unlike anything you've probably ever seen before. We're unveiling it right now for just $19. That's the lowest price my publisher has EVER offered for a trading research service… And it won't be available for long. Watch a '10-second live demo' of this method to see how it works." Watch Now MARKETS DOW 34,294.59 +0.03% S&P 4,292.07 +0.03% NASDAQ 14,528.33 +0.19% *As of market close • Stocks edged higher on Tuesday, with the Nasdaq and S&P 500 again closing at record highs. • Oil rose 0.6 percent, closing at $73.38 per barrel. • Gold declined 1.1 percent, last trading at $1,762 per ounce. • Cryptocurrencies trended higher, with Bitcoin at $36,405 at the stock market close. Today's TOP TIPS This Tech Play Joined the Trillionaire Club, and Still Has Room to Rally Big tech companies have been in the spotlight over a number of their business practices. While the jury is still proverbially out on more regulation for big tech, one judge recently threw out a lawsuit against Facebook (FB). The lawsuit was an FTC complaint regarding a number of antitrust complaints, given the company's anti-competitive nature. Shares of the social media firm rallied on the news, allowing the firm to hit a $1 trillion market cap for the first time. » FULL STORY Insider Trading Report: FinTech Acquisition Group V (FTCV) Luxor Capital Group, a major owner of FinTech Acquisition Group V (FTCV), recently added to their stake with a 63,904 share buy. The buy increased the firm's stake by 1.8 percent and came to a total price of $761,000. That follows on a number of other buys in the month of June, adding nearly 500,000 shares in total by the fund. One other major holder has also been a buyer since the company went public, with no insider sales. » FULL STORY Unusual Options Activity: Expedia (EXPE) Shares of travel booking firm Expedia (EXPE) have been trading in a range for the past few months, but saw a drop to the bottom of their range on Monday. One trader sees the opportunity for a strong rebound in the months to come. That's based on the November $180 calls. With 142 days until expiration, over 13,894 contracts traded hands, a 121-fold jump in volume from the prior open interest of 115. The buyer of the calls paid about $13.80 to make the trade. » FULL STORY IN OTHER NEWS • Home Prices Rise at Fastest Rate Ever Home prices, as measured by the Case-Shiller Index, rose at 14.6 percent annually in April, up from 13.3 percent in March. That's the highest amount of change ever measured by the index, which looks at a variety of housing markets nationwide and has been in use for over 30 years. • New Cars Selling Over Sticker Price As the shortage in the automotive space continues, buyers are now paying more than the sticker price of a car. While some sales occur at that price in most years, it's usually with a number of incentives added on by a car dealer. Some vehicles are now selling for as much as $10,000 over the asking price. • JPMorgan Buys OpenInvest Bank JPMorgan Chase (JPM) has agreed to buy OpenInvest. The fintech firm allows users to created customized portfolios in the ESG, or environmental, social, and governance space. This marks the third fintech investment by the bank in the past year. Terms of the deal have yet to be disclosed. • United Airlines Makes Its Largest Jet Buy in Company History In an all-in bet on a rebound in travel, United Airlines (UAL) has announced orders to buy 270 jets. That's the largest order in the company's history, and the largest order by any airline in the past decade. The list price for that total is about $35 billion. Typically, however, airlines pay a discount to the list price, and it's likely United will pay as low as half the list price for the jets. • ShipBob Hits $1 Billion Valuation E-commerce logistics company ShipBob has raised $200 million, and now has a valuation over $1 billion. The company works with over 5,000 e-commerce businesses to run shipping and logistics. While the privately-held company is currently profitable, the firm expects to use the money to grow its business geographically and invest more in R&D for robotics and autonomous systems. S&P 500 MOVERS TOP SWKS 4.516% QRVO 4.447% JD 3.41% MS 3.352% XLNX 3.11% BOTTOM FOXA 7.039% AIV 3.463% FOX 3.204% VIAC 2.978% NOC 2.674% Quote of the Day The breakout to new highs in Growth was the catalyst to push the S&P 500 to new highs. We see the situation where Growth may continue to outperform Value in the weeks ahead. - MKM Partners chief market technician JC O'Hara, on why the stock market may continue to head higher in the coming weeks as growth stocks have started to push higher. Sponsored Content Just $19 –That's It. "Hi, my name is Jeff Clark. For the past 36 years, I've shown people from all walks of life how to make money in the markets. Retired stockbrokers... presidents of companies... people with almost no financial experience... and everything in between. But I haven't done it the usual way… My method is different. It's unlike anything you've probably ever seen before. We're unveiling it right now for just $19. That's the lowest price my publisher has EVER offered for a trading research service… And it won't be available for long. Watch a '10-second live demo' of this method to see how it works." Watch Now Not sure the best way to get started? 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