| | | | DOW 34,912.56 | +1.56% | | | | S&P 4,438.26 | +1.71% | | | | NASDAQ 14,823.43 | +1.73% | | | | *As of market close | | • | Stocks rallied strongly on Thursday, with all three indices closing near highs of the day. | | • | Oil rose 1.2 percent, closing at $81.38 per barrel. | | • | Gold advanced 0.2 percent, last going for $1,798 per ounce. | | • | Cryptocurrencies moved higher, with Bitcoin at $57,768 at the stock market close. | | | | | | | | | | Stronger Travel Trends Point to Profitability For this Industry Leader | | | | After being pent up at home for months on end, consumers are looking to get out and travel more. That's a trend showing signs of growth, a welcome indicator as the economy contends with persistent inflation and supply chain issues for physical goods.
With that trend moving higher, a number of companies are likely to benefit. Probably not airlines, given higher energy prices. But investors who look elsewhere can be rewarded. » FULL STORY | | | | | | Insider Trading Report: Life Time Group Holdings (LTH) | | | | Partners Group Private Equity, a major holder at Life Time Group Holdings (LTH), recently added 277,777 more shares. The buy increased the fund's holdings by over 4 percent, and came to a total cost of just under $5 million.
This marks the first insider transaction since the company went public earlier in the month. Overall, company insiders own nearly 15 percent of shares. » FULL STORY | | | | | | Unusual Options Activity: Wells Fargo & Company (WFC) | | | | Shares of megabank Wells Fargo & Company (WFC) have nearly doubled in the past year. However, over the past 5 years, shares are largely down thanks to a number of scandals. One trader expects a further decline in shares in the next few years.
That's based on the January 2024 $40 put. With 826 days until expiration, over 10,760 contracts traded against a prior open interest of 442, for a 24-fold jump in volume. The buyer of the put paid $5.60 to make the trade.
» FULL STORY | | | | | | • | Jobless Claims Hit New Pandemic Low
Jobless claims hit 293,000 last week. That came in well under expectations for 318,000 claims, and marks the first time the number came in under 300,000 since the start of the pandemic. Continuing claims dropped 134,000 to 2.59 million as well. | | | | • | Worker Strikes Rise on Low Pay and Benefits
A number of companies have seen workers go on strikes in recent weeks, citing not just higher pay, but better healthcare, vacation time, and retirement benefits as well. The strikes occur as a number of sectors see a significant shortage of workers. | | | | • | Winter Heating Costs Likely to Rise 30-50 Percent This Year
The Energy Information Administration estimates that nearly half of American homes are heated with natural gas during the winter. Given the rise in gas prices, a jump in heating costs of 30 percent seems likely, with a potential for a rise over 50 percent if winter is colder than expected this year. | | | | • | Bank Earnings Come in Strong
With many megabanks reporting this week, stocks have been relieved at the results so far. Nearly all firms have reported solid demand for lending business, improving credit quality, and even a rise in business thanks to ongoing IPO and merger activity this year, more than offsetting rising inflation fears. | | | | • | Cannabis Investment Soars 165 Percent Over 2020
While pot stocks soared at the start of the year and have now been a significant underperformer, investments continue to move to the space. Year-to-date, over 205 funding rounds have been reported for private cannabis companies, with the average investment size up 165 percent to $19.9 million per round. | | | | | | TOP | | WBA | 7.29% | | | APA | 6.644% | | | AMG | 4.607% | | | ASML | 4.505% | | | CARR | 4.494% | | | BOTTOM | | USB | 2.213% | | | BA | 2.056% | | | WFC | 1.933% | | | DISCK | 1.483% | | | HWM | 1.42% | | | | | | | | | The print reflected that while transitory factors continue to roll-off, stickier more persistent factors are becoming more prevalent, which the Fed is more likely to respond to. | | - A Bank of America analysis on the latest CPI numbers showing inflation is running its hottest in 20 years, and why that may cause the Fed to start tapering its asset purchases rather than simply talk about it. | | |
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