| | | | DOW 34,002.92 | -0.94% | | | | S&P 4,300.46 | -1.30% | | | | NASDAQ 14,255.48 | -2.14% | | | | *As of market close | | • | Stocks dropped on Monday, as Treasury yields and energy ticked higher. | | • | Oil rose 2.3 percent, closing at $77.59 per barrel. | | • | Gold rallied 0.6 percent, last going for $1,769 per ounce. | | • | Cryptocurrencies dropped over the weekend and into Monday, with Bitcoin last at $44,074. | | | | | | | | | | This Sudden Commodity Shortage Bodes Well for Best-of-Breed Firms | | | | With inflation continuing to come in hot, investors are turning to commodities. It's been less than 18 months since oil prices briefly traded at negative prices thanks to some desperate traders.
Now, the pain is coming at the gas pump as oil prices are likely to buck a seasonal trend higher, just as winter sets in and natural gas prices are also on the rise.
» FULL STORY | | | | | | Insider Trading Report: Apartment Investment & Management Co (AIV) | | | | Terry Considine, a director at Apartment Investment & Management Co (AIV), recently picked up 305,375 shares. The buy increased his stake by nearly 20 percent, and came to a total price of just over $2.13 million. This is the ninth buy from company insiders this year, including both directors and a company executive, totaling over 1 million shares purchased. So far this year, there's been one sale, also from a director, of just 12,200 shares. » FULL STORY | | | | | | Unusual Options Activity: Microsoft (MSFT) | | | | Shares of tech giant Microsoft (MSFT) have traded down over the past few weeks, in line with the broader market. One trader sees a possibility for a rebound back to the company's old all-time highs in the next month.
That's based on the November 5th $310 calls. With 31 days left on the clock, over 3,800 contracts traded, a 33-fold rise in volume from the prior open interest of 116 contracts. The buyer of the calls paid $2.01 for the trade.
» FULL STORY | | | | | | • | US Keeps China Tariffs in Place
As part of a push to keep China compliant with a 2020 trade deal, the US is continuing to keep tariffs in place. US companies will be allowed to seek exemptions. The trade deal involves a pledge from China to buy more US goods and services, given the uneven trade balance. The news comes as China's internal regulatory crackdown and debt bubble collapse continues to weigh on the economy there. | | | | • | Amazon Starts Black Friday Deals
E-commerce giant Amazon (AMZN) has started Black Friday deals about 53 days early. The company has announced deep deals across a number of categories, with the expectation that shoppers who buy now will be able to avoid shipping delays and supply chain issues. | | | | • | Qualcomm Scoops Up Veoneer
Wireless chipmaker Qualcomm (QCOM) has partnered with investment group SSW Partners to acquire Veoneer in an all-cash transaction valued at $4.5 billion. The Swedish automotive tech company will expand Qualcomm's offerings into the latest generation of tech vehicles. The offer is an 18 percent premium to a prior deal on the table for the company to be acquired. | | | | • | Facebook Whistleblower Accuses Platform of Betraying Democracy
A whistleblower from Facebook (FB) has come out accusing the company of being a "betrayal of democracy." The statement is based on documents that company executives are aware of the negative mental health effects that social media platforms can have, particularly on younger users. | | | | • | Pandora Papers Reveal Worldwide Tax Dodges
The International Consortium of Investigative Journalists have complied the Pandora Papers. These leaked papers indicate a list of global elites parking money in offshore havens with enhanced privacy protections, which allow these individuals to evade the full brunt of their tax burdens. | | | | | | TOP | | DVN | 5.678% | | | FANG | 4.957% | | | MRO | 4.6% | | | PSX | 4.492% | | | WMB | 4.11% | | | BOTTOM | | ENPH | 6.501% | | | TWTR | 6.091% | | | EW | 5.629% | | | FB | 5.217% | | | NVDA | 5.154% | | | | | | | | | A combination of slowing growth, less accommodative monetary policy, China headwinds, fading fiscal stimulus, and nagging supply chain bottlenecks all conspired to weigh on investor sentiment as we head into fall and 4Q21. | | - Chris Hussey, a managing director at Goldman Sachs, on the headwinds that impacted markets in September, and may continue to weigh in the weeks ahead until they are resolved. | | |
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