Good morning. Before it ended with the tech bubble, the prosperity of the 1990s...
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 35,399.84 | -0.16% | | | | S&P 4,528.81 | +0.43% | | | | NASDAQ 15,265.89 | +0.90% | | | | *As of market close | | • | Stocks traded mixed on Monday, with a slight drop in the Dow. | | • | Oil rose 0.4 percent, closing at $69.01 per barrel. | | • | Gold declined 0.4 percent, last going for $1,813 per ounce. | | • | Cryptocurrencies traded slightly down, with Bitcoin at $48,677 at the stock market close. | | | | | | | | | | Insider Trading Report: Enterprise Products Partners LP (EPD) | | | | John Rutherford, a director at Enterprise Products Partners LP (EPD), recently bought 10,000 more shares. The buy increased his stake by nearly 26 percent, and came to a total purchase price of just under $222,000.
This is the first insider buy in nearly a month. Overall, company insiders have been buyers of shares with just one small exception over the past three years back in 2019. » FULL STORY | | | | | | Unusual Options Activity: eBay (EBAY) | | | | Online auction site eBay (EBAY) has seen shares move higher over the past year with a number of small dips along the way. One trader sees that trend continuing in the short term. That's based on the September 10 $70 calls. Over 5,715 contracts traded compared to an open interest of 122, for a 47-fold rise in volume. The buyer of the calls paid about $0.47 to make the trade.
» FULL STORY | | | | | | • | 750,000 Households Face Evictions as Moratorium Expires
According to an estimate from Goldman Sachs (GS), between 2.5 million and 3.5 million renters are behind on payments. With the recent end to the eviction moratorium, the investment bank now estimates that about 750,000 renters could face eviction by the end of the year. | | | | • | Oil Refining, Pipelines Shut Down from Hurricane Ida
Oil prices traded flat on Monday, after hurricane Ida hit the coast of Louisiana as a Category 4 storm. Many pieces of critical infrastructure for the oil industry such as pipelines and refineries were in the storm's path, and fuel supplies are likely to be impacted in the region for several weeks. | | | | • | China Restricts Video Games to Three Hours Per Week
China continues with a regulatory crackdown in the tech space, with the country now imposing a limit for video game playing. Starting September 1, video game companies will restrict gaming time to just 3 hours per week, from 8-9 PM on Friday, Saturday, and Sunday. The regulation comes as fears rise that video game addiction is becoming a significant problem for the country's youths. | | | | • | SEC to Review "Gamification" of Stock Apps
The Securities and Exchange Commission promises to take a closer look at the design of popular stock apps, with an eye towards whether or not those designs encourage more trading and less investing. This is part of a broader "gamification" trend by companies in recent years, designed to keep eyeballs on a website or app while only adding marginal value and potentially leading to bad decisions. | | | | • | PayPal Looking at Stock-Trading Platform for US Customers
PayPal (PYPL) reports that it's looking at ways for users to trade individual stocks. The company has recently hired a brokerage industry veteran to look into integrating that into the app. That would add to the company's addition of cryptocurrency trading in the past year, and create more interest in customers keeping money on the app. | | | | | | TOP | | PYPL | 3.643% | | | ETSY | 3.474% | | | AAPL | 3.042% | | | HPQ | 2.835% | | | IDXX | 2.798% | | | BOTTOM | | COF | 6.035% | | | SYF | 5.005% | | | TRIP | 4.701% | | | DFS | 4.675% | | | DAL | 3.878% | | | | | | | | | Interest rate hikes are far, far away, and investors are happy about that. I think Powell deserves some credit for navigating the tapering of assets, avoiding a tantrum. The market seems well prepared for the start of tapering. | | - Michael Arone, chief investment strategist for State Street Global Advisors, on Fed Chairman Jerome Powell's speech on Friday, which was met with approval by the stock market, potentially allowing the central bank to scale back its asset purchasing program without causing a major selloff. | | |
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