Good morning. Ronald Reagan once quipped that the nine scariest words in the English language..
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 34,477.67 | -0.44% | | | | S&P 4,219.61 | -0.18% | | | | NASDAQ 13,911.75 | -0.09% | | | | *As of market close | | • | Stocks traded down on Wednesday, with all indices closing near their lows of the day. | | • | Oil declined 0.4 percent, closing the trading day at $69.74. | | • | Gold declined 0.2 percent, hitting $1,891 per ounce. | | • | Cryptocurrencies generally rallied, with Bitcoin last at $36,268. | | | | | | | | | | This Best-of-Breed Industry Player is Ready for a Rebound | | | | The past few years has held the promise of untold riches from a powerful tech trend named 5G. Simply the latest cell network, 5G enables faster processing and download speeds, and a greater network capacity given the rising number of pieces of tech connected to the internet. While there have been some winners and losers in the space over the past few years, it's taken a backseat to other tech trends. But that may be changing.
» FULL STORY | | | | | | Insider Trading Report: B. Riley Financial (RILY) | | | | Bryant Riley, Chairman and Co-CEO of B. Riley Financial (RILY), recently bought 33,316 additional shares. The stake increased his holdings by nearly 0.6 percent, and came to a total purchase price of just over $2.2 million. Riley has been a repeat buyer so far this year, with additional buys back in January when shares traded nearly 40 percent lower. Other company insiders have also been buyers in the past year, and only one insider sale has occurred in the past three years. » FULL STORY | | | | | | Unusual Options Activity: Twitter (TWTR) | | | | Social media giant Twitter (TWTR) saw its shares drop heavily in late April, closing out a bearish chart signal. Now, shares are trending up again, and one trader sees the potential for a new all-time high this summer. That's based on the August $80 calls. With 71 days until expiration, over 11,444 contracts traded, a 113-fold jump in volume from the prior open interest of 111. With shares just under $60, it would take a 33 percent rally for the option to move in-the-money.
» FULL STORY | | | | | | • | Stock-Picking Legend Leaks Secret Stock (Trades for Less Than $5)
One of the world's great stock pickers just did something crazy. He went onstage and outed a secret stock that trades under a hidden name. See the "leaked" footage here. Now, keep in mind... this stock picker is legendary for his big trades. He personally bought Apple in the '90s, when NOBODY thought Apple was going anywhere... and still holds every share. He bought Amazon in the early 2000s... and still holds every share. He even bought Netflix THIRTEEN years ago... and still holds every share. I've looked through his personal trading records... and let me assure you, it's absurd how much he made on these trades. But now he's done something I never thought I'd see. (Live camera footage here.) He's outed a secret stock - trading for less than $5 - that he says is the next big score. Click HERE to see the details for yourself. (Clicking this link will opt you in to the Liberty Through Wealth free e-letter and offers from us and our affiliates that we think might interest you. - Privacy Policy.) | | | | • | Biden Revokes Orders on TikTok and WeChat
President Biden signed an executive order revoking an order signed by President Trump that sought to ban the apps TikTok and WeChat outright. The new order will evaluate the companies as a security risk given their ownership and potential use by a foreign adversary. | | | | • | Paint Prices on the Rise
Paint giant Sherwin-Williams (SHW) warns that it will need to raise prices by 7 percent starting in August. The company is citing the rising costs of raw materials needed to make paint in the first place, as well as rising demand for residential paint amid a real estate boom and increase demand for home improvement projects. | | | | • | Banks Discouraging Deposits as Companies Stash Cash
Many companies cut back on spending, hit up lines of credit, and issued debt or shares to prepare for the uncertainties of the pandemic. Now, banks are suggesting that their corporate customers start spending that cash, rather than keep it on the books as deposits. Even for big companies, most bank deposits earn next to nothing in interest. | | | | • | Clean Energy Fuels Soares on Retail Meme Buzz
Retail traders are pushing into Clean Energy Fuels (CLNE), and the stock has become the second-most discussed name on internet boards such as the subreddit Wall Street Bets in recent days. Shares of the company jumped nearly 20 percent at the open on Wednesday, adding to gains over the prior few trading days. | | | | • | AI Investment Setting Up for Record 2021
Angel investors and venture capitalists are making big bets on artificial intelligence (AI), and the sector may be on pace for a record year, as well as raising more capital than other promising niches in the tech space. The investments include small startups as well as the $20 billion price tag that Microsoft (MSFT) is paying for Nuance Communications (NUAN). | | | | | | TOP | | M | 4.925% | | | BMRN | 4.177% | | | CTLT | 3.054% | | | REGN | 3.047% | | | SRE | 2.953% | | | BOTTOM | | DISH | 7.205% | | | CPB | 6.515% | | | BF.B | 5.647% | | | UPS | 4.148% | | | UAA | 3.647% | | | | | | | | | It may take a year longer until 2023 but inflation will re-emerge. And while it is admirable that this patience is due to the fact that the Fed's priorities are shifting towards social goals, neglecting inflation leaves global economies sitting on a time bomb. The effects could be devastating, particularly for the most vulnerable in society. | | - David Folkerts-Landau, Chief Economist of Deutsche Bank, on why inflation still poses some threats to the economy over the next 18 months as the Fed refocuses its actions on items such as social justice and climate change. | | |
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