Good morning. Every few years, some big names on Wall Street disclose 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 35,345.78 | -0.78% | | | | S&P 4,448.32 | -0.70% | | | | NASDAQ 14,656.18 | -0.93% | | | | | *As of market close | | | • | Stocks closed lower on Tuesday, on lower-than-expected retail sales. | | | • | Oil declined 0.8 percent, closing at $66.76 per barrel. | | | • | Gold dropped 0.2 percent, last going for $1,787 per ounce. | | | • | Cryptocurrencies traded down, with Bitcoin at $45,387 at the stock market close. | | | | | | | |
| | | Data Breaches Provide Investment Opportunity | | | | The past few years have seen a number of companies have their data hacked. This can include everything from customer sales data to personal information as well. These hacks tend to lead to a drop in share price of a company, but they tend to recover in time.
The most recent company to see a big hack is T-Mobile (TMUS). The telecom giant has reported that the latest hack is a big one.
» FULL STORY | | | | |
| | Insider Trading Report: Genuine Parts Company (GPC) | | | | John Holder, a director at Genuine Parts Company (GPC), recently picked up 2,000 more shares. That increased his stake at the company by nearly 13 percent, and came to a total purchase price of just under $250,000.
This is the first insider buy of the year, and the third made by Holder in the past year. Insiders have generally been small buyers of shares overall, with the last insider sale occurring in 2019.
» FULL STORY | | | | |
| | Unusual Options Activity: Beyond Meat (BYND) | | | | Shares of plant-based meat alternative Beyond Meat (BYND) have been trading in a range over the past year, and are now trading near the lower end of their range. One trader sees the possibility for a big move higher in the coming months.
That's based on the December $150 calls. With 121 days until expiration, over 4,975 contracts traded compared to a prior open interest of 106 contracts, for a 47-fold rise in volume.
» FULL STORY | | | | |
| | • | Retail Sales Miss Expectations
US retail sales fell by 1.1 percent in July according to data from the Census Bureau. Expectations were for a drop of 0.3 percent. Consumer spending is estimated to be about two-thirds of the US economy, and the rise of Delta variant cases may have played a role, as well as consumers spending in areas other than retail. | | | | • | Homebuyer Sentiment Hits One Year Low
The sentiment among single-family homebuilders dropped 5 points to 75 points over the past month. The scale uses 50 as a baseline, so it's still wildly positive, but rising home sales and a slowdown in economic recovery are impacting sentiment the most. On the plus side, lumber prices have now dropped over 70 percent from their peak, which takes some profit margin pressure off the table for homebuilders. | | | | • | Corporate Spending and Buybacks Likely to Keep Stocks Up
Companies are setting on record levels of cash right now, and an increasing number of investors are betting that companies will dip into the cash hoards they built in 2020 to continue corporate expansions, or engage in share buybacks. Those two things could keep stocks trending higher for some time to come. | | | | • | Salesforce Closes on Slack Sales
In one of the largest tech mergers ever, Salesforce (CRM) finished its acquisition of Slack for $28 billion. The company has also announced its first integrations, with the hope that Slack's interface will become the preferred way for customers to engage with Salesforce and their suite of marketing products. | | | | • | Chinese Regulators Unveil More Antitrust Rules
Chinese tech stocks can't seem to catch a break as the government continues to crack down with new rules and regulations. The government is now adding new rules to curb anti-competitive behavior among internet firms based in China. That includes a ban on operators faking statistics, sales, or user reviews to mislead customers. | | |
| | | | TOP | | | MRNA | 7.489% | | | | KR | 4.58% | | | | VRTX | 3.912% | | | | PFE | 3.087% | | | | OGN | 3.059% | | | | BOTTOM | | | DXC | 11.832% | | | | UAA | 5.962% | | | | UA | 5.905% | | | | LOW | 5.799% | | | | FCX | 5.782% | | | | |
| | |  | | We remain bullish on stocks (particularly cyclicals/value) thanks to a strong earnings season, signs of receding risk from the delta variant, and normalization of bond-equity correlation. | | - JPMorgan Chase, in a note to clients on why events are likely to continue to benefit the current rally in the stock market. | |
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