| | | | DOW 35,355.71 | +0.61% | | | | S&P 4,479.51 | +0.85% | | | | NASDAQ 14,942.65 | +1.55% | | | | *As of market close | | • | Stocks rose on Monday, with the S&P 500 and Nasdaq hitting record highs. | | • | Oil jumped 5.3 percent, closing at $65.46 per barrel. | | • | Gold rose 1.2 percent, last going for $1,806 per ounce. | | • | Cryptocurrencies moved higher, with Bitcoin at $49,302 at the stock market close. | | | | | | | | | | Insider Trading Report: Krispy Kreme Inc (DNUT) | | | | JAB Holdings, a major holder at Krispy Kreme (DNUT), recently added 234,748 more shares to their holdings. The buy increased the company's stake by 0.35 percent, and came to a total purchase price just over $3.37 million.
This buy follows up on a number of insider buys back in July, including a 294,118 share buy from the company's chairman of the board. Overall, company insiders own nearly 45 percent of company shares. » FULL STORY | | | | | | Unusual Options Activity: Caesars Entertainment (CZR) | | | | Shares of casino giant Caesars Entertainment (CZR) have been steadily declining since early June. However, one trader see the possibility for a strong rebound.
That's based on the December $125 calls. With 115 days until expiration, over 20,015 contracts traded compared to an open interest of 186, for a 108-fold jump in volume. The buyer of the calls paid about $1.27 to make the trade.
» FULL STORY | | | | | | • | Home Sales Continue Rise
Sales of previously-owned homes rose 2 percent in July compared to the prior month and 1.5 percent higher compared to July 2020. Overall, it's a sign that the housing market is strong, but slowing down compared to the soaring demand of recent months. Existing home sale prices hit $359,900, slightly down from the peak $362,800 recorded the prior month. | | | | • | Shipping Delays Likely to Impact Holidays
The global supply chain disruptions continue. Shipping container rates remain at record highs and ports remain backed up, with one of China's largest ports now shut down due to a Covid outbreak. A number of companies are reporting that they expect the delays to impact shipping into the holiday season. | | | | • | Drugmakers Prepare for Boosters and Covid Variants
Like the cold or flu, Covid appears to be here to stay. Some doctors are already suggesting booster shots on an annual basis that could be used to fight against new variants. Drugmakers are already preparing for the possibility that these will be widely needed, and the steady income from such booster shots will likely continue to boost the share price of the drugmakers with Covid vaccines. | | | | • | Ridesharing Firms Drop as California Court Rules on Prop 22
Ridesharing firms such as Lyft (LYFT) and Uber (UBER) dropped on Monday, following a court ruling that California's Prop 22 was unconstitutional. The proposition, passed by a majority vote in California last November, was created to allow the gig economy to continue, rather than follow a state law that would turn Uber drivers into full-time employees with mandated benefits and other costs. | | | | • | Virgin Orbit Looks to Go Public
Virgin Orbit, the startup that looks to fly satellite payloads into low earth orbit, is preparing to go public in a SPAC merger deal. The deal would value the company at about $3.2 billion, and provide the firm with $483 million in cash at closing. Virgin Orbit was spun off from Virgin Galactic (SPCE), which went public via SPAC a few years ago and just saw its first successful test flight. | | | | | | TOP | | APA | 7.623% | | | MRNA | 7.447% | | | OXY | 6.72% | | | XLNX | 6.391% | | | DVN | 6.039% | | | BOTTOM | | CBOE | 2.674% | | | ROL | 2.365% | | | POOL | 2.316% | | | AEE | 2.199% | | | XEL | 2.167% | | | | | | | | | With Fed tapering coming while delta variant keeps spreading, the transition away from liquidity/policy regime to more mid-cycle markets means we may experience a bumpier ride ahead. Market narrative may thus turn more cautious, as concerns about peaking growth rates, delta variant and policy mistake may prove headwinds, at a time when seasonality and technicals are unfavorable. | | - Barclays equity strategists on why market volatility is likely to rise in the weeks ahead, although it may not result in a full-blown market correction. | | |
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