Good morning. Looking over the second quarter of 2021, analysts at Goldman Sachs (GS) noted that...
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 34,681.46 | +0.30% | | | | S&P 4,358.33 | +0.34% | | | | NASDAQ 14.665.06 | +0.01% | | | | *As of market close | | • | Stocks closed higher on Wednesday, with all indices shaking off morning losses. | | • | Oil dropped 1.8 percent, closing at $72.02 per barrel. | | • | Gold rallied 0.6 percent, last trading at $1,804 per ounce | | • | Cryptocurrencies traded slightly higher, with Bitcoin at $34,592 at the stock market close. | | | | | | | | | | Supply Chain Issues or Not, Retail Trends Will Likely Move Higher | | | | The economy has been moving strongly past the pandemic, but concerns over inflation and supply chain disruptions have led to some uncertainty. While markets are generally heading higher, one area is likely to continue plugging along at a steady and growing rate.
That space? Retail. Pent-up consumer demand is coming out as the labor market looks to not only stabilize, but do so at higher wages. That bodes well to companies across the retail spectrum.
» FULL STORY | | | | | | Insider Trading Report: Alaska Air Group (ALK) | | | | Jessie knight, a director at Alaska Air Group (ALK) picked up another 1,200 shares last month. The buy increased his stake by nearly 32 percent, and came to a total purchase price of just over $66,000. That marks the first insider buy at the airline since a prior buy from the same director in November 2020. Overall, c-suite company insiders have been sellers of shares over the past three years, while company directors have been more inclined to make modest buys. » FULL STORY | | | | | | Unusual Options Activity: Newegg Commerce (NEGG) | | | | Shares of ecommerce platform Newegg Commerce (NEGG) traded in a narrow range for the past few months, before exploding more than 300 percent higher in recent sessions. One trader expects that move higher to continue in the next few days. That's based on the July 16 $30 calls. With 8 days until expiration, over 3,140 contracts traded against a prior open interest of 112 for a 28-fold jump in volume.
» FULL STORY | | | | | | • | Job Openings Remain at Record Levels
Job openings rose by another 16,000 positions at the end of May, leading to a total of 9.2 million job openings. That's a near-match for the 9.3 million Americans who were unemployed and actively seeking jobs in May. The labor market remains particularly tight in spaces such as leisure and hospitality, but those sectors have also shown strong job growth over the past few months. | | | | • | Fed Discussed Tapering in Its June Meeting
The Federal Reserve released the minutes of its June 15-16 meeting on Wednesday. As many suspected, the central bank made its first discussion since the start of the pandemic as to when and how it should scale back, or "taper" its purchases of financial assets. Currently, the Fed is buying $80 billion in Treasuries and $40 billion in mortgage-backed securities each month. | | | | • | Oil Spreads Drop as OPEC+ Drama Continues
Traders generally see the latest OPEC+ drama as a sign that production will increase overall and prices will likely come down as a result. Another part of that trend is the narrowing spread between international oil prices and US oil prices. This reduced spread tends to be good for producers, who can sell oil as a commodity globally. However, refiners who turn oil into gasoline or jet fuel, tend to see narrower profit margins. | | | | • | Trump Moves to Sue Social Media Giants
Former president Donald Trump filed a proposed class-action lawsuit against the likes of Twitter (TWTR) and Facebook (FB), two firms that have banned him from their platform, citing a silencing of conservative voices in general. Courts have typically dismissed such cases, and shares of these companies seemed unphased by the threat. | | | | • | Earth Imaging Firm Planet Moves to Go Public
Planet, a startup with around 200 satellites providing Earth imaging and analytics, is in talks to go public with a special purpose acquisition company, dMY Technology Group IV (DMYQ). The deal is valued at nearly $2.8 billion, with most of the proceeds going to the company to expand operations. This is the second deal among space companies in recent weeks. | | | | | | TOP | | AMG | 5.342% | | | ORCL | 3.623% | | | NUE | 3.393% | | | KMX | 3.119% | | | BIIB | 3.027% | | | BOTTOM | | M | 5.969% | | | XLNX | 4.668% | | | MKTX | 4.604% | | | PENN | 4.315% | | | AMD | 4.16% | | | | | | | | | It's going to get worse before it gets better. I still think $85 to $90 per barrel should be the upper end. You'll see more oil produced. They're not going to go crazy, but they're not going to live within the current structures. Russia will lead the charge. | | - John Kilduff, partner with Again Capital, on the failed OPEC+ meeting and why oil prices will likely trend higher in the coming months as member nations start to produce in excess of their quotas. | | |
No comments:
Post a Comment