 | | |  Good morning. Friday's job numbers were rough. Whether it's a one-time event or part of a bigger slowing down in the economy remains to be seen. But a dig into the jobs numbers shows that if it's part of a bigger trend, things could get ugly for the markets fast.
For the 6th time since 2010, food service employees saw a drop, losing 41,500 jobs in total. If restaurants are losing waiters and bartenders, it could be a sign that dining out trends have stopped improving. As a key portion of the economy, it may be a warning sign of things to come.
In the good news category, however, manufacturing jobs continue to grow, with a notable increase in auto workers, an area where growing electric vehicle trends could significantly add to the economy's bottom line in the years ahead. Once past the short-term caution, things don't look so bad.
Now here's the rest of the news: | | | | | |
| | |  | DOW 35,369.09 | -0.21% | | | | S&P 4,535.51 | -0.03% | | |  | NASDAQ 15,363.52 | +0.21% | | | | | *As of market close | | | • | Stocks traded mixed going into Labor Day weekend, with the Nasdaq making a record close. | | | • | Oil dropped 1 percent, closing at $69.27 per barrel. | | | • | Gold rose 1.1 percent, last going for $1,832 per ounce. | | | • | Cryptocurrencies trended higher, with Bitcoin at $50,447 at the stock market close. | | | | | | | |
| | Insider Trading Report: Global Self Storage (SELF) | | | | Russell Burke, a director at Global Self Storage (SELF) recently picked up 1,800 shares. The buy increased his stake by just over 8 percent, and came to a total price of just over $23,000.
This follows up on 5,000 shares bought by the company President and CEO over the two prior weeks. Over the past 3 years, insiders have only bought shares with no sales.
» FULL STORY | | | | |
| | Unusual Options Activity: Cameco (CCJ) | | | | Shares of uranium producer Cameco (CCJ) were on a strong uptrend until June, then slid. In recent days, they've moved higher. One trader sees that trend continuing in the weeks ahead.
That's based on the October $21 calls. With 39 days until expiration, over 5,065 contracts traded against an open interest of 155, for a 33-fold rise in volume. The buyer of the calls paid about $1.32 on average.
» FULL STORY | | | | |
| | • | Job Growth Comes in Far Below Expectations
The private sector grew by 235,000 jobs in August. While usually a good sign, it's far under the 750,000 expected by economists. Job growth was expected to be strong thanks to the ongoing labor shortage, but there have been some concerns of the Delta variant weighing on job growth over the past few months. The increase is the smallest since January. | | | | • | Biden Administration Taps Oil Stockpile
The Biden administration is releasing 1.5 million barrels of crude oil from its strategic reserve. The move is designed to help deal with the shortages affecting Louisiana in the aftermath of Hurricane Ida. With a capacity for more than 600 million barrels of crude oil, the strategic petroleum reserve (SPR), the move is a small one relative to the total size. | | | | • | Apple Delays Plan to Scan for Child Exploitation Imagery
Tech giant Apple (AAPL) is delaying a plan that would scan users photo libraries for images of child exploitation. The plan runs against the company's promises to protect customer's privacy. The company expects to take some additional time to review how to roll out such a system in the future while still protecting customer privacy. | | | | • | Automakers Expect Poor Labor Day Weekend Sales
Labor Day weekend is typically one of the strongest sales events of the year for auto dealers, as they like to make deals on current-year models before the next year's models roll into showrooms. However, limited inventory thanks to shortages points to below-average sales this year, as with last year. | | | | • | Firefly Launches and Loses its First Rocket
Commercial launch firm Firefly fired its first rocket out of Vandenberg Space Force Base in California. An anomaly and explosion shortly after launch resulted in the total loss of the vehicle, and its payloads designed for low-earth orbit. An investigation into the explosion is underway. | | |
| | | | 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% | | | | |
| | |  | | I, for one, won't support a $3.5 trillion bill, or anywhere near that level of additional spending, without greater clarity about why Congress chooses to ignore the serious effects inflation and debt have on existing government programs. | | - Senator Joe Manchin (D-WV), on why he's opposing the current spending proposals coming from his own party, a move that could take some of the wind out of inflationary concerns. | |
|
No comments:
Post a Comment