Friday, October 8, 2021

📆A Two-Month Breather Before the Next Market Drop?📆

Good morning. One of the biggest market fears has been the debt ceiling debate out of...
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.

Good morning. One of the biggest market fears has been the debt ceiling debate out of Washington. While the government can find ways to keep paying its bills without going into debt, such as a plan to mint a one-trillion-dollar coin, a default could wreak havoc on the Treasury markets, an asset class typically regarded as the safest in the world.

Now, a deal has been made to raise the debt ceiling, allowing stocks to follow up on Wednesday's rally with an even larger move higher on Thursday. But traders are likely only to see fears creep back in. That's because the deal is only good until December 3.

Typically, the markets are starting their year-end rally around that time. This year? We may be in for some more volatility. But for now, we have a breather after a few rough weeks of trading.

Now here's the rest of the news:

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In fact, Future Acres recently secured $150M+ in commercial collaborations with Sun World International and Grown Rogue. What's more? They've also partnered with Abundant Robots – another pioneer in the field of agriculture technology – to focus on specialty crop fruit picking using mobile robotics, AI, advanced sensors, and computer vision.

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MARKETS
DOW 34,754.15 +0.98%
S&P 4,3399.83 +0.83%
NASDAQ 14,654.02 +1.05%
*As of market close
Stocks moved higher on Thursday, but closed near their lows of the day.
Oil rose 1.8 percent, closing at $78.79 per barrel.
Gold declined 0.3 percent, last going for $1,756 per ounce.
Cryptocurrencies traded mixed, with Bitcoin at $53,996 at the stock market close.

Today's TOP TIPS
Value and Inflation-Fighting Pricing Power Make this Company a Buy
While many companies have reported trouble in finding workers right now, news of a strike is a different, pre-pandemic sort of labor problem. Yet that's the case at Kellogg Company (K), where nearly 5 percent of the company workforce has gone on strike.

While a prolonged strike could mean favorite cereal brands getting sold out at grocery stores, shares of the company were slightly up the day the story broke. Yet it does point to the relative value the company is trading at now.

» FULL STORY

Insider Trading Report: Oracle Corp (ORCL)
Alison Fairhead, a director at Oracle Corp (ORCL), recently added 1,286 shares. The buy increased her stake by nearly 5.7 percent, and came to a total purchase price of just under $110,000.

The director has been a prior buyer of shares back in March, picking up 10,242 shares for just under $689,000, and at a purchase price about 35 percent lower compared to where shares trade today. Otherwise, company insiders at the tech company have largely been sellers.

» FULL STORY

Unusual Options Activity: Ginkgo Bioworks Holdings (DNA)
Shares of biotech firm Ginkgo Bioworks Holdings (DNA) suffered a double-digit loss on Tuesday following a short-seller issuing a report questioning the company's revenue sources. However, one trader sees shares shaking off the fear and moving higher.

That's based on the March $14 calls. With 161 days to trade, nearly 4,600 contracts traded, a 32-fold rise in volume from the prior open interest of 144. The buyer of the call paid $1.28 for the trade.

» FULL STORY

IN OTHER NEWS
Lawmakers Reach Debt Ceiling Deal

Stocks rose yesterday as the Senate reached a deal to stave off a debt default in the coming weeks. The proposal is to raise the debt ceiling by $480 billion, which will allow the US Treasury to pay its bills through December 3. The extension will allow Congress to work on reconciling various spending bills currently under consideration.
Energy Prices Cool as Inventories Rise

Oil, natural gas, and even coal prices have been big winners in the past few weeks. New supply data is showing an increase in production in the US, and Russia may look to increase production to supply European markets as well. That's allowed prices to cool after a particularly strong rally, including a 40 percent move higher in natural gas in just two days.
Chinese Property Development Bonds Continue to Decline

Bonds for property developers in China have continued to move downwards in recent days. Part of that is the strength of the US dollar, which many of the bonds are denominated in. But part of the decline is a potential spread of debt default beyond Evergrande to the rest of the Chinese property market. This debt default may still take some time to play out.
General Motors Sees Sales Doubling with All-Electric Fleet

General Motors (GM) sees its revenue doubling to more than $200 billion in annual sales by the end of the decade, as the firm shifts towards all-electric vehicles. The company also predicts the shift will increase profit margins for the firm.
Snapchat Launches Tools to Reduce Drug Sales on Platform

Social media firm Snapchat (SNAP) is adding out tools and educational resources to prevent younger users from acquiring illicit drugs through the platform. The specific concern is on counterfeit pill buying. Snapchat has already reported a 112 percent rise in enforcement as its has worked to increase detection capabilities to find drug dealers and remove them from the platform.

S&P 500 MOVERS
TOP
FCX 8.373%
5.772%
PENN 4.831%
GM 4.765%
APTV 4.496%
BOTTOM
PNW 8.095%
LW 6.769%
NCLH 1.967%
K 1.915%
LYV 1.9%

Quote of the Day
As deadlines approach without a deal to lift the debt ceiling, rising risk aversion could spark more market volatility, but we believe the economic expansion ultimately will be the main influence on equity and bond prices through next year.
- A Paul Christopher, Wells Fargo Investment Institute global market strategist, on why the market will likely remain volatile for a few more weeks before some of the biggest issues, notably the debt ceiling, is resolved.

Sponsored Content
Today is the FINAL DAY to invest in Future Acres – the company developing robotic farming tools of tomorrow.

Future Acres is creating the autonomous farm tools of tomorrow. Their first robot, Carry, is designed to transport crops more efficiently—and is estimated to increase farm efficiency by 30%. Such a boost to output means Carry can pay for itself in only 80 days, and provide farmers with up to $13,500 in efficiency gain per Carry per season.

In fact, Future Acres recently secured $150M+ in commercial collaborations with Sun World International and Grown Rogue. What's more? They've also partnered with Abundant Robots – another pioneer in the field of agriculture technology – to focus on specialty crop fruit picking using mobile robotics, AI, advanced sensors, and computer vision.

This is the FINAL DAY to invest in Future Acres. The opportunity closes tonight at Midnight EST.

Don't miss out – invest in Future Acres now.


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