Good morning. The first half of the year saw endless stories about the impact of rising lumber...
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 35,084.14 | +0.44% | | | | S&P 4,419.02 | +0.42% | | | | NASDAQ 14,778.26 | +0.11% | | | | *As of market close | | • | Stocks inched higher on Thursday, with the Dow and S&P 500 hitting record highs. | | • | Oil rose 1.7 percent, closing at $73.60 per barrel. | | • | Gold rose 1.6 percent, last going for $1,833 per ounce. | | • | Cryptocurrencies traded mixed, with Bitcoin at $39,714 at the stock market close. | | | | | | | | | | Insider Trading Report: Golub Capital BDC (GBDC) | | | | David Golub, CEO of Golub Capital BDC (GBDC) recently picked up 10,000 shares. The buy increased his stake by 0.24 percent, and came to ta total valuation of just under $160,000. He was joined by Lawrence Golub, company Chairman, who also bought 10,000 shares, paying about the same amount. The two have been active and steady buyers since 2019, and there have been no insider sales over the past 3 years. » FULL STORY | | | | | | Unusual Options Activity: Advanced Micro Devices (AMD) | | | | Shares of semiconductor company Advanced Micro Devices (AMD) surged to new all-time highs following earnings this week one trader sees shares potentially moving even higher. That's based on the November $85 calls. With 112 days until expiration, over 12,580 contracts traded against a prior open interest of 736, for a 17-fold rise in volume. The buyer of the calls paid about $16.15 to make the trade.
» FULL STORY | | | | | | • | GDP Growth Strong, But Slowing
GDP growth for the second quarter came in at an annualized rate of 6.5 percent. That's slightly higher than the first quarter, but lower than expectations for closer to 8.4 percent. The good news however? Total GDP is now above pre-pandemic levels for the first time. But lower growth amid rising inflation concerns could weigh on the economy from here. | | | | • | Corporate America Ramps Up Vaccine Requirements
A number of major companies are now requiring employees returning to the office to have a Covid vaccine. Some are even asking clients and customers visiting in person to have the same. While there are some carve-outs for religious and health exemptions, some studies are showing that most employees want their colleagues to be vaccinated. | | | | • | Robinhood Prices IPO at $38 Per Share
Investment brokerage app Robinhood (HOOD) went public at a price of $38 per share today. One of the most anticipated IPOs of 2021, the IPO price chosen was at the lower end of the range. The company is still dealing with some lingering concern from traders who were shut out of buying meme stocks at the start of the year. | | | | • | Facebook Unveils Metaverse Experience
Forget digital—now there's the metaverse. A virtual ecosystem that might be the next phase of the internet, a number of companies are building out the concept. Facebook (FB) is one such player, with CEO Mark Zuckerberg looking to pivot the company from being a social media play to a metaverse company. | | | | • | Nikola Founder Faces Fraud Indictment
Trevor Milton, founder of Nikola Motors (NKLA), has been charged with 3 counts of fraud, related to attempts to deceive retail investors for his own personal benefit. The other charges involve wire fraud and securities fraud related to these deceptive practices. The charges come as the company has yet to produce a functioning electric vehicle, and having likely staged a working prototype. | | | | | | TOP | | ALGN | 8.862% | | | XLNX | 6.287% | | | YUM | 6.28% | | | QCOM | 6.003% | | | CTSH | 5.918% | | | BOTTOM | | CTXS | 13.575% | | | PTC | 8.413% | | | PYPL | 6.229% | | | EQIX | 5.97% | | | BAX | 5.531% | | | | | | | | | The market is understanding we are having a blowout quarter here compared to a year ago. What's much more important this season is the guidance we're getting on quarters ahead, as the economy settles out into what might be the new normal. | | - Michael Reynolds, vice president of investment strategy at Glenmede, on why investors should look to guidance rather than earnings from the most recent 90-day period to get a sense of how the economy and stock market are likely to fare in the months ahead. | | |
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