Good morning. The band Abba is releasing a new album in November, their first since 1981...
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 35,369.09 | -0.21% | | | | S&P 4,535.51 | -0.03% | | | | NASDAQ 15,363.52 | +0.21% | | | | *As of market close | | • | US markets were closed Monday, in observance of Labor Day. | | | | | | | | | | Insider Trading Report: Abercrombie & Fitch (ANF) | | | | Kerri Anderson, a director at Abercrombie & Fitch (ANF), recently picked up 1,000 shares. The buy increased her stake by nearly 3 percent, and came to a total purchase price of just over $35,000.
This is the second buy in recent weeks, following a 700 share buy from another director in August. Overall, company insiders have been more active on the sell side before these buys, which have occurred as shares have slid in recent weeks. » FULL STORY | | | | | | Unusual Options Activity: Northern Oil & Gas (NOG) | | | | Shares of energy producer Northern Oil & Gas (NOG) have been moving higher over the past year. Shares trended down over the summer, but are now starting to move higher, and one trader sees that rally continuing. That's based on the March $20 calls. With 192 days until expiration, over 2,645 contracts traded against a prior open interest of 131, for a 20-fold rise in volume. The buyer of the calls paid about $2.10 to make the trade.
» FULL STORY | | | | | | • | China to Create Stock Exchange in Beijing
China has announced that it will create a stock exchange based out of its capital in Beijing. The exchange will handle China's growing capital needs for companies above and beyond the exchanges currently in Shanghai and Shenzhen (to say nothing of Hong Kong). The move comes as China has intensified regulatory actions in recent months. | | | | • | IPO Market to Surge this Fall
2021 has already been the busiest year for companies going public since 2000. But another 90-110 initial public offerings are on track for the next few months, which would make 2021 the biggest year ever for IPOs. In total, 2021 could have as many as 375 IPOs, raising over $125 billion for the companies going public. | | | | • | Gensler Warns Stock Market Needs an Update
SEC Chairman Gary Gensler warns that the stock market needs an update. The chairman has stated in recent days that payment for order flow, the use of dark pools, and other measures have created conflicts of interest between brokers and customers, and that moves will likely occur in the days ahead. | | | | • | Companies Begin Tracking Carbon Emissions
A number of companies have already committed to reducing their carbon emissions. But a big question remains: How is that best tracked? The information can be difficult to calculate, and including information from suppliers and vendors can also impact the total. Companies are working on improving this calculation as they unveil. | | | | • | Playbyte Moves to Become TikTok for Games
Startup Playbyte has launched an app that the company hopes will make it the TikTok for games. Users will be able to create games on their phone and share them with users, and users can have a customized feed that shows games that users would like to play. | | | | | | TOP | | MRNA | 4.788% | | | ETSY | 3.227% | | | XEC | 3.128% | | | NOW | 2.775% | | | COG | 2.651% | | | BOTTOM | | CCL | 4.413% | | | RCL | 4.22% | | | M | 4.106% | | | PVH | 3.808% | | | NCLH | 3.375% | | | | | | | | | It appears that we have underestimated the earnings power of US stocks yet again despite bumping up our 2021 EPS target back in May. And with analysts continuing to raise annual EPS estimates we believe our current EPS target is again likely too low. | | - Brian Belski of BMO, on why the investment bank is seeing further upside to the stock market as earnings season continues. | | |
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