Good morning. Last week saw the stock market dive on rising Delta variants to Covid 19...
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 35,059.58 | -0.24% | | | | S&P 4,401.67 | -0.47% | | | | NASDAQ 14,660.58 | -1.21% | | | | *As of market close | | • | Stocks closed lower on Tuesday, but well off their lows of the day. | | • | Oil declined 0.2 percent, closing at $71.74 per barrel. | | • | Gold traded flat, last going for $1,800 per ounce. | | • | Cryptocurrencies generally declined, with Bitcoin at $37,964 at the stock market close. | | | | | | | | | | Insider Trading Report: FAST Acquisition Corp (FAST) | | | | Chatham Asset Management, a major holder at FAST Acquisition Corp (FAST), recently acquired another 395,000 shares. The buy increased the fund's stake by over 13 percent, and came to a total cost of just over $4.6 million. The fund has been a regular buyer throughout the month of July, picking up over 1.1 million shares in total at a price of over $11 million all told. Prior to that, another major holder was a seller of shares throughout late 2020. » FULL STORY | | | | | | Unusual Options Activity: Morgan Stanley (MS) | | | | Shares of investment bank Morgan Stanley (MS) have nearly doubled in the last year. One trader sees the potential for a further move higher in shares in the months ahead. That's based on the February 2022 $100 calls. Expiring in over six months, over 11,220 contracts traded against a prior open interest of 215 contracts, for a 52-fold rise in volume. The buyer of the calls paid about $5.10 to do so.
» FULL STORY | | | | | | • | China Cracks Down on Tech Stocks
China has continued to crack down on a number of tech stocks, ramping up in recent weeks. That's caused Chinese stocks to drop 6 percent on Monday and another 5 percent on Tuesday. The latest firms to see the country's ire involve tutoring companies. That's on top of the country cracking down on ecommerce firm Alibaba Group (BABA) and ride-sharing firm Didi Global (DIDI) in recent months. | | | | • | Home Price Growth Hits Record High
The Case-Schiller Index rose 16.6 percent over the past year. That's the highest annual rate of growth since the index was created. Housing trends have slowed in general in recent weeks, but a shortage remains thanks to a tight supply and a pandemic-induced demand for more housing. | | | | • | Jet Fuel Shortage Hits Airports
Increasing demand for leisure travel has filled airlines to capacity, but a shortage for jet fuel has emerged at some airports in the Western United States. A shortage of tank truck drivers is exacerbating the problem, with nearly 20 percent of tankers idled. Pipelines shifted out of jet fuel last year as air travel dwindled as well, and isn't yet back to pre-pandemic levels. | | | | • | CDC Reverses Indoor Mask Policy
The Center for Disease Control reversed its indoor mask policy. The CDC now says that those who are fully vaccinated should wear a mask indoors, particularly in areas that are Covid hotspots. The move comes as the Delta variant may be bringing about a new surge in cases. | | | | • | 1Password Hits $2 Billion Valuation
1Password has raised $100 million in a Series B funding round, at a valuation of $2 billion. That's doubled the company's valuation since its last round. The software as a service platform boasts over 90,000 customers, up from 50,000 during its last raise. The unicorn is also one of the few companies profitable in its pre-IPO state. | | | | | | TOP | | FFIV | 6.204% | | | PNR | 4.643% | | | BSX | 3.502% | | | AON | 3.188% | | | EIX | 2.992% | | | BOTTOM | | LW | 13.525% | | | UPS | 6.99% | | | ATVI | 6.756% | | | IPGP | 5.408% | | | PTC | 5.102% | | | | | | | | | It appears that we're going to get really solid earnings from these companies and that should give a little bit of a boost to the market. Some of these names have already run so much this year that perhaps we don't get a large bounce. | | - Victoria Fernandez, Crossmark Global Investments chief market strategist, on the big tech earnings this week and why the market will likely only see some modest further gains over the next few months. | | |
No comments:
Post a Comment