 | | |  Good morning. Is it the beginning of the end for social media? In some ways, perhaps. Many of the big players could be swept up in potential antitrust legislation aimed at breaking up big tech.
And, as former President Donald Trump stated in an op-ed in the Wall Street Journal, social media has taken the place as radio, broadcast television, and even town halls in terms of how many connect for political speech.
The points are well-taken, but considering the messenger, it's more likely that, for now, any changes to social media will come from increased regulation of big tech overall. The former president may have been banned from nearly all current social media platforms, but he's already been working on one of his own, as well as maintaining a presence on smaller platforms with a high commitment to the freedom of speech. That's less of an end, and more of a new beginning.
Now here's the rest of the news: | | | | | |
| | |  | DOW 35,000.39 | +0.37% | | | | S&P 4,384.75 | +0.35% | | | | NASDAQ 14,733.24 | +0.21% | | | | | *As of market close | | | • | Stocks moved higher on Monday, with the S&P 500 and Nasdaq again hitting all-time highs. | | | • | Oil dropped 0.5 percent, closing at $74.20 per barrel. | | | • | Gold declined 0.2 percent, last going for $1,807 per ounce. | | | • | Cryptocurrencies generally moved lower, with Bitcoin at $32,833 at the stock market close. | | | | | | | |
| | Insider Trading Report: R.R. Donnelley & Sons (RRD) | | | | Chatham Asset Management, a major holder of R.R. Donnelley & Sons (RRD), has bought another 185,000 shares recently. The buy increased the fund's stake in the company by nearly 1.75 percent, and came to a total purchase price of just over $1.1 million.
This adds to the fund's purchases of shares from May and June. In total, over the past few months, the fund has bought over 2.4 million shares, and is the sole insider to make any changes.
» FULL STORY | | | | |
| | Unusual Options Activity: Boston Properties (BXP) | | | | Shares of office real estate investment trust (REIT) Boston Properties (BXP) have generally been rising over the past few months. One trader sees a continued rally in shares.
That's based on the November $130 calls. With just over 4 months until expiration, 5,000 contracts traded against a prior open interest of 138, for a 36-fold rise in volume. The buyer of the calls paid about $2.20 for the trade.
» FULL STORY | | | | |
| | • | As Markets Slow, Investor Confidence Slumps
47 percent of portfolio managers described themselves as bullish on stocks at the end of the second quarter. That's down from 51 percent at the end of the first quarter. None of those surveyed described themselves as very bullish. That's likely because, even with stocks hitting all-time highs, the market activity and volume has slowed significantly since the start of the year. | | | | • | Unicorn IPO Activity to Remain Strong Through the End of 2021
A number of highly-valued companies went public in the first half of the year. The second half looks to be just as strong, with privately-held firms like Robinhood, Instacart, Warby Parker, NerdWallet, and others looking to make the change to publicly-traded in the months ahead. | | | | • | Homebuyers See More Listings and Lower Interest Rates
The housing market has started to show some signs of a slowdown, but other signs of an adjustment are at work. New listings of homes rose 4 percent over the past month, up from 3 percent in the same period in 2019, a pre-pandemic peak. And declining Treasury yields are also leading to lower interest rates on mortgages. Both factors help with a home's affordability. | | | | • | Richard Branson Makes Historic Space Flight
Billionaire Richard Branson celebrated his space flight on Sunday, as the Virgin Galactic (SPCE) spaceship flew its first passengers into space. Launched from New Mexico, the spacecraft first piggybacks on a conventional airplane to launch from a higher altitude. This flight marks the start of the space tourism industry. | | | | • | ByteDance Delays IPO on Chinese Regulatory Concerns
ByteDance, the company behind social media giant TikTok, is shelving its IPO plans. Chinese regulators are likely to want to review the company's operations, and the firm wants to avoid issues that plagued ride-sharing company Didi (DIDI), which had these issues hit right after it went public. | | |
| | | | TOP | | | ALB | 6.826% | | | | TSLA | 4.376% | | | | LB | 4.163% | | | | DIS | 4.146% | | | | DFS | 3.423% | | | | BOTTOM | | | HPQ | 2.763% | | | | TRIP | 2.623% | | | | BIIB | 2.546% | | | | FFIV | 2.536% | | | | CHTR | 2.264% | | | | |
| | |  | The effects of the pandemic are not only on the volatility of markets, but also on the ability to go back to the 2% aim… Therefore until we are not, well, somehow moving towards that target, I think we have to maintain all our instruments, and we will discuss them in our meetings. | | | - Italian Central Bank Governor Ignazio Visco, on why the European Central Bank sees it still premature to scale back its emergency measures implemented during the pandemic. | |
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