| | | | DOW 34,869.17 | +1.30% | | | | S&P 4,369.50 | +1.13% | | | | NASDAQ 14,701.92 | +0.98% | | | | *As of market close | | • | Stocks moved higher on Friday, shaking off Thursday's drop. | | • | Oil rallied 2.3 percent, closing at $74.61 per barrel. | | • | Gold rose 0.5 percent, last going for $1,810 per ounce. | | • | Cryptocurrencies traded mixed, with Bitcoin at $33,447 at the stock market close. | | | | | | | | | | Insider Trading Report: Piedmont Lithium (PLL) | | | | Jeffrey Armstrong, a director at Piedmont Lithium (PLL), recently picked up 2,500 shares. The buy increase his stake by more than 14 percent, and came to a total price of just over $174,000. This follows up from a 4,000 share buy from another director, Susan Jones, the day before. She spent over $292,000 to make the buy. Other than an insider sale around the same time, this is the first insider activity at the firm since 2009. » FULL STORY | | | | | | Unusual Options Activity: Expedia Group (EXPE) | | | | Shares of online travel agency Expedia Group (EXPE) has been trending down slightly in recent months as the market has largely priced in the reopening trade. However, one trader sees shares moving higher in the coming months. That's based on the November $165 calls. Expiring in 129 days, over 12,810 contracts traded against a prior open interest of 205, for a 62-fold rise in volume. The buyer of the calls paid about $14.40 on average to make the trade.
» FULL STORY | | | | | | • | Biden Prepares Executive Order on Big Tech
President Biden is preparing an executive order with 72 recommendations and actions for how federal agencies should interpret existing laws, with the goal of reining in big tech companies and increasing potential competition. | | | | • | Dallas Fed President Makes Case for Tapering
Robert Kaplan, President of the Dallas Federal Reserve, is wary on inflation, seeing it as potentially more than transitory. That's why he's become the first member of the Fed to raise the discussion on tightening monetary policy. The first step would be in reducing, or tapering, the bond purchases currently being made by the Fed before raising interest rates. | | | | • | Fracking Companies Wary as Oil Creeps Higher
Rising oil prices are leading to higher share prices and more financing interest in the space. But shale producers are showing some restraint, given the volatility in the sector. Shale companies tend to carry high debt, and tend to have short-lived wells. That's why this time around, these companies are paying down debt and focusing on buybacks or dividends rather than expanding, which could also help keep oil prices high. | | | | • | Construction Workers in Short Supply Amid Real Estate Boom
Strong demand for new homes, properties, and solar panel installations is leading to a shortage in construction workers. One estimate puts the labor shortage at as many as 1 million workers. That's in stark contrast to last year, when social distancing concerns largely shut down the construction industry. The space is now about 80 percent recovered, but is still down 238,000 from pre-pandemic levels. | | | | • | EU Fines Big Automakers on Emissions Cartel
The European Union has fined BMW and Volkswagen a $1 billion fine for their involvement in an emissions cartel. The companies, along with others, colluded to avoid emissions standards in diesel passenger cars and slowing the implementation of cleaner emissions technology. Daimler, as the whistleblowing party, appears to be avoiding fines on this issue. | | | | | | TOP | | M | 6.869% | | | DFS | 6.195% | | | NOV | 5.994% | | | STT | 5.679% | | | SIVB | 5.574% | | | BOTTOM | | BIIB | 2.951% | | | DXCM | 1.396% | | | RMD | 1.216% | | | BAX | 1.107% | | | EQIX | 0.95% | | | | | | | | | [T]he market continues to contemplate what to do after growth peaks and the Fed turns off the spigot (neither of which have necessarily happened yet) and ahead of a 2Q21 earnings season that starts Tuesday. | | - Chris Hussey of Goldman Sachs on why the market has been a bit more volatile lately, even as it hovers near all-time highs, and why investors may expect some bigger moves in the weeks ahead. | | |
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