Good morning. The United States was brought into World War II after...
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 35,313.19 | +0.13% | | | | S&P 4,524.13 | +0.03% | | | | NASDAQ 15,309.38 | +0.33% | | | | *As of market close | | • | Stocks traded mixed on Wednesday, with a slight loss for the Dow. | | • | Oil dropped 0.3 percent, closing at $68.33 per barrel. | | • | Gold declined 0.1 percent, last going for $1,817 per ounce. | | • | Cryptocurrencies generally rose, with Bitcoin at $48,184 at the stock market close. | | | | | | | | | | Insider Trading Report: FMC Corporation (FMC) | | | | Carol Davidson, a director at FMC Corporation (FMC), recently picked up 1,500 shares. The buy increased her stake by nearly 50 percent, and came to a total purchase price of just over $140,000.
She was joined by the company CEO, who bought shares last week, picking up 1,1100 shares at a price of nearly $100,000. This marks the first insider buy at the company since late 2018. Otherwise, company insiders have been steady sellers of shares. » FULL STORY | | | | | | Unusual Options Activity: Vinco Ventures (BBIG) | | | | Shares of product research company Vinco Ventures (BBIG) have quadrupled in recent sessions. One trader sees the possibility for a surge even higher.
That's based on the October $20 calls. Over 10,173 contracts traded against a prior open interest of 111, for a 92-fold jump in volume. The buyer of the calls paid about $1.33 to make the trade.
» FULL STORY | | | | | | • | Latest Jobs Report Misses Expectations
Private payroll provider ADP (ADP) reported that 374,000 jobs were added last month. That's far less than the 600,000 expected by economists. July's initial 330,000 read was also revised lower to 326,000. The slowing recovery of the job market in recent months could weigh on the economy, although it's also possible the slowdown is seasonal and that trends toward the end of the year will accelerate. | | | | • | Mortgage Finance Demand Drops
Applications to refinance a home dropped 4 percent last month, more than offsetting a 1 percent rise in applications to finance the purchase of a home. That may indicate that the housing market is still strong, but that many who wish to refinance their mortgages have already done so. | | | | • | Retails Beef Up Measures to Combat Theft
Organized rings sealing from stores in bulk is leading to a $45 billion annual business for the thieves. Companies are beefing up their security to offset in-store thefts of goods on a large scale that end up being resold online. | | | | • | Walmart Looks to Hire 20,000 Supply Chain Workers
Retail giant Walmart (WMT) is looking to hire 20,000 workers, primarily in its fulfillment and distribution centers. The jobs are permanent, with a mix of full-time and part-time roles. The hiring demonstrates the company's push into online sales and home deliveries as a way of better competing with others in the retail space. | | | | • | Google to Appeal French Copyright Fine
Tech giant Alphabet (GOOG) is appealing a $592 million fine given to its Google division by France in July. The fine was given by the country's competition authority on how the company paid news publishers for content reuse. The company is characterizing the fine as "disproportionate." | | | | | | TOP | | PVH | 14.372% | | | BIDU | 5.369% | | | TCOM | 3.864% | | | KSU | 3.7% | | | BFB | 3.66% | | | BOTTOM | | ABBV | 7.516% | | | DXC | 5.052% | | | WFC | 4.694% | | | DVN | 4.336% | | | MRO | 4.17% | | | | | | | | | Although this bull market has laughed at nearly all the worry signs in 2021, let's not forget that September is historically the worst month of the year for stocks. Even last year, in the face of a huge rally off the March 2020 lows, we saw a nearly 10% correction in the middle of September. | | - LPL Financial Chief Market Strategist Ryan Detrick, reinforcing a point we've made about the market's seasonal weakness over the past few days, and that it doesn't signify the end of the market rally. | | |
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