Good morning. For a few weeks, a number of traders have quietly been pushing the idea that oil...
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 34,787.93 | +0.45% | | | | S&P 4,352.41 | +0.75% | | | | NASDAQ 14,639.33 | +0.81% | | | | | *As of market close | | | • | Stocks closed mixed after the holiday weekend, with all indices closing at their highs of the day. | | | • | Oil dropped 1.9 percent, closing at $73.76 per barrel. | | | • | Gold rallied 0.8 percent, last trading at $1,797 per ounce. | | | • | Cryptocurrencies traded slightly higher, with Bitcoin at $34,099 at the stock market close. | | | | | | | |
| | | A New CEO Could Break this Stock Out of Its Stuck Range | | | | There's nothing wrong with a company trading in a range, moving up a little and down a little, but mostly unchanged over time. But investors who look for catalysts can likely find hints as to whether a company will break out of its range higher or lower.
Right now, one range-bound stock is also one of the biggest out there.
» FULL STORY | | | | |
| | Insider Trading Report: First United Corp (FUNC) | | | | Christy DiPietro, a director at First United Corp (FUNC) recently bought 3,000 shares. The buy increased her sake by 136 percent, and came to a total purchase price of just under $55,000.
Company insiders have been repeated buyers throughout the year, albeit in small lots of as few as 11 shares. This is the largest buy year to date following a 2,100 share buy from another director in March. The last insider sale was in December 2020, albeit for a single share.
» FULL STORY | | | | |
| | Unusual Options Activity: Keurig Dr Pepper (KDP) | | | | Shares of beverage firm Keurig Dr Pepper (KDP) have been trading in a narrow range over the past few months. One trader sees the potential for a further move higher in shares in the coming months.
That's based on two different option trades with unusual activity. The most interesting is the October $36 calls. With about 100 days until expiration, over 10,912 contracts traded, a 70-fold jump in volume from the prior open interest of 157 contracts.
» FULL STORY | | | | |
| | • | Oil Tops Six-Year High on Collapsing OPEC+ Meeting
The recent OPEC+ meeting collapsed without a deal on increased production numbers, resulting in a price of oil topping $77 per barrel in pre-market trading. That marks a six-year high for oil prices. However, in regular trading prices came down slightly, as the failed meeting suggests that individual members might produce oil beyond their official commitments. | | | | • | China Targets Overseas Listed Firms Following Didi Probe
Chinese regulators say that they will be intensifying their scrutiny of technology companies in the months ahead. The move comes as ride-sharing firm Didi (DIDI) has come under scrutiny, following its recent IPO. The regulations would extend to how data security, border flows, and other confidential information is stored and managed. | | | | • | Retailers Look to Tackle Closed Fitting Rooms and Higher Returns
While most retailers are open for in-store business, fitting rooms for many clothing and footwear outlets remain closed. That's resulted in a surge of returns, with over 42 percent of consumers returning unwanted products. Returns eat into company profitability, so retailers are looking for technological solutions to better help customers with a virtual shopping experience. | | | | • | Iceland Reports Success with Shorter Workweek
Between 2015 and 2019, a number of public sector employees in Iceland have been working under a 35–36-hour workweek, down from 40. The initial results of the trial report maintained or even increased productivity while also increasing work-life balance. The country has now rolled out the program nationwide, with 86 percent of the population now working shorter hours. | | | | • | Pine Labs Raises $600 Million at $3 Billion Valuation
Asian merchant commerce platform Pine Labs has raised $600 million, with a valuation that values the firm at $3 billion. The company operates a payments terminal system that's connected to the cloud and offers a suite of software as well. Early investors have included PayPal (PYPL) and MasterCard (MA). | | |
| | | | TOP | | | AMG | 6.964% | | | | AMZN | 4.693% | | | | GNRC | 3.408% | | | | ZM | 3.145% | | | | AMBD | 3.057% | | | | BOTTOM | | | FANG | 7.026% | | | | HAL | 6.518% | | | | OXY | 6.354% | | | | NOV | 6.314% | | | | MAC | 5.989% | | | | |
| | |  | | Our base case is that rates drift higher, but in order to that get that move higher you need a catalyst to get there. Either the Fed has to move forward aggressively on tapering, or you have to get the data really rocking, and you don't have either. |  | | - Brian Daingerfield, head of G10 FX strategy Americas at NatWest Markets, on why the stock market is likely to continue to drift higher, and why the next catalyst for a drop will likely result from the Federal Reserve. | |
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