| | | | DOW 35,213.12 | -0.54% | | | | S&P 4,469.92 | -0.58% | | | | NASDAQ 14,945.81 | -0.64% | | | | *As of market close | | • | Stocks moved lower on Thursday, with all indices closing near their lows of the day. | | • | Oil declined 0.7 percent, closing at $67.88 per barrel. | | • | Gold rose 0.2 percent, last going for $1,795 per ounce. | | • | Cryptocurrencies traded lower, with Bitcoin at $47,036 at the stock market close. | | | | | | | | | | Insider Trading Report: Six Flags Entertainment Corp (SIX) | | | | Arik Ruchim, a director at Six Flags Entertainment Corp (SIX), recently bought 100,000 shares. The buy increased his stake by 1.2 percent, and came to a total purchase price of just over $3.8 million.
This follows a buy from the day before by the company president and CEO, who bought 13,200 shares. That buy came in at just under $500,000. Prior insider activity over the past year had previously been all sales until these buys. » FULL STORY | | | | | | Unusual Options Activity: Academy Sports and Outdoors (ASO) | | | | Sporting goods retailer Academy Sports and Outdoors (ASO) is already up over 200 percent in the past year. One trader sees the opportunity for a further move higher.
That's based on the December $45 calls. With 112 days until expiration, over 9,800 contracts traded compared to a prior open interest of 121, for an 81-fold jump in volume. The buyer of the calls paid about $4.90 to make the trade.
» FULL STORY | | | | | | • | Jobless Claims Inch Up
Initial jobless claims hit 350,000 last week, a 1,000 rise over the week prior. The four-week moving average for claims fell to a pandemic-era low of 366,500. Unemployment benefit claims have also been trending down, a sign that the job market is continuing to recover. | | | | • | Americans Migrating to Higher-Risk Climate Change Areas
Data from real estate risk providers indicate that of the top 50 counties most likely to face risks from changes in the climate, a majority saw an increase in population over the last 5 years. That includes low-lying coastal areas, as well as areas prone to storms, heat, drought, flood and fire. Areas ranked for the lowest risk saw a population drop of 1.4 percent over the past 5 years. | | | | • | Oil Forms Golden Cross
Oil prices have formed a "golden cross," where the commodity's 50-day moving average has crossed over the 200-day moving average. This has happened just twice in the last 20 years, but each time oil has continued to rally from there, with a 20-50 percent move likely in the months ahead. | | | | • | Taiwan Semiconductor Raises Prices
Taiwan Semiconductor (TSM), the world's largest manufacturer of semiconductor chips, will be raising prices by roughly 10 percent for its most advanced chips, and as much as 20 percent for less advanced chips. The price increases are to take effect later this year and into next year. This can impact the cost of everything from smartphones to new cars. | | | | • | Picsart Hits Unicorn Valuation
Startup Picsart has raised $130 million in a valuation round led in part by SoftBank. The new raise values the company at over $1 billion, although the company declined to provide a precise figure. In its last round of funding in 2019, the firm was valued at $600 million. Presently, the firm has hit the $50 million ARR mark, and is set to hit $100 million this year. | | | | | | TOP | | ETSY | 5.097% | | | NTAP | 4.716% | | | MCHP | 2.965% | | | CRM | 2.645% | | | ADI | 2.48% | | | BOTTOM | | DLTR | 12.077% | | | ADSK | 9.373% | | | WDC | 4.473% | | | GPS | 4.221% | | | PVH | 4.21% | | | | | | | | | The 10-year Treasury bond yield has continued rising in recent days and exploded higher in [Wednesday's] trading, sending a strong message that the Delta variant of Covid may be peaking in the U.S. which should improve confidence, restart economic reopenings, and drive investment flows toward small caps and cyclicals. | | - Jim Paulsen, chief investment strategist at the Leuthold Group, on why the recent stock market's rally higher is being driven by a potential peak in Covid cases right now. | | |
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