Good morning. There's two ways to improve your wealth quickly. The first is to cut down on...
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 35,443.82 | +0.37% | | | | S&P 4,536.95 | +0.28% | | | | NASDAQ 15,331.18 | +0.14% | | | | *As of market close | | • | Stocks closed higher on Thursday, with the S&P 500 and Nasdaq hitting new intraday highs. | | • | Oil rallied 1.7 percent, closing at $69.72 per barrel. | | • | Gold declined 0.2 percent, last going for $1,812 per ounce. | | • | Cryptocurrencies generally rose, with Bitcoin at $49,295 at the stock market close. | | | | | | | | | | Insider Trading Report: Riley Exploration Permian (REPX) | | | | Alvin Libin, a major owner at Riley Exploration Permian (REPX), recently bought 4,814 additional shares. The buy increased his stake by nearly 0.3 percent, and came to a total purchase price of just under $96,000. Libin has been a major buyer throughout the past month, with three additional purchases in August, totaling nearly 35,000 shares. Going further back, there has been more of a mix of insider buys and sells, with buying overall exceeding insider sales. » FULL STORY | | | | | | Unusual Options Activity: Mastercard Incorporated (MA) | | | | Shares of credit card giant Mastercard (MA) have been sliding over the past month. However, one trader sees the potential for a move higher in the coming few months. That's based on the November $355 calls. With 77 days until expiration, over 17,960 contracts traded against a prior open interest of 110, for a 163-fold explosion in volume. The buyer of the calls paid about $13.85 to make the trade.
» FULL STORY | | | | | | • | Hurricane Ida Disruptions May Keep Gas Prices High
While the Labor Day weekend typically signifies the end of the summer driving season and the start of declining gas prices, Hurricane Ida has disrupted oil production and refining facilities along the Gulf Coast. Additionally, the storm has led to flooding and disruptions as it moves up the Eastern Seaboard, which may continue to keep gas supplies limited and prices high for a few weeks. | | | | • | FAA Investigates Richard Branson's Space Flight
The Federal Aviation Administration is investigating the launch flight of Virgin Galactic (SPCE) carrying billionaire Richard Branson. The issue is that the flight veered off its course on its descent back to earth, which resulted in changing the course of the spaceship. | | | | • | Employers Losing Millions on Delayed Office Returns
With many companies announcing permanent work from home options, or hybrid work options, a few other companies are delaying plans to return their workforce permanently to the office. These delays are costing companies millions in unused office space, as well as the costs of managing a remote workplace, such as surveillance and covid testing. | | | | • | $75 Billion Lost on SPAC Pullback
Special purpose acquisition companies, or SPACs, were hot investments at the start of the year. The entire space has had some big drops, however. Now, with the sector down over 25 percent, over $75 billion in total value of these startup companies has been lost. | | | | • | HomeLight Raises $100 Million on $1.6 Billion Valuation
Real estate technology platform HomeLight has raised $100 million in Series D funding. The funding now values the company ay over $1.6 billion, nearly triple the valuation when it raised $109 million in a Series C funding in 2019. The company sees large growth ahead following the strength of the real estate market. | | | | | | TOP | | PWR | 12.057% | | | COG | 6.704% | | | OXY | 5.981% | | | XEC | 5.811% | | | BAX | 4.837% | | | BOTTOM | | ADSK | 5.201% | | | HRL | 4.598% | | | GPS | 2.911% | | | V | 2.581% | | | GPN | 2.412% | | | | | | | | | The relentless march higher on low volatility in U.S. equities continues and with breadth, volume positioning and sentiment measures all positive in our view we look for the rally to extend further into new highs yet. | | - Credit Suisse, in a note to clients on why they remain bullish on the stock market going into the end of the year. | | |
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