Good morning. Energy prices have been rising, even though seasonally they should be cooling...
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 35,677.08 | +0.21% | | |  | S&P 4,544.95 | -0.11% | | | | NASDAQ 15,090.20 | -0.82% | | | | | *As of market close | | | • | Stocks traded mixed on Friday, with tech stocks taking a dive. | | | • | Oil rose 1.8 percent, closing at $84.00 per barrel. | | | • | Gold rallied 0.7 percent, last going for $1,795 per ounce. | | | • | Cryptocurrencies sold off again, with Bitcoin at $60,837 at the stock market close. | | | | | | | |
| | | Inflation-Resistant Pricing Power Makes this Company Likely to Keep Rallying | | | | Investors are looking for how companies are navigating the worst environment for inflation in 25 years. Many companies are doing well, having found ways to cut costs, or raise prices without losing out on sales. Some of the best companies do a little bit of both.
That's the case with Chipotle Mexican Grill (CMG). The company reported solid earnings, as higher costs were offset by higher menu prices, allowing the company to report earnings of $7.02 per share, beating estimates of $6.32.
» FULL STORY | | | | |
| | Insider Trading Report: Lamb Weston Holdings (LW) | | | | Robert Niblock, a director at Lamb Weston Holdings (LW), recently bought 2,500 shares. The buy increased his stake by 27.5 percent, and came to a total price of $141,000.
The buy came just a few days after another director bought 5,000 shares, increasing his holdings by 32 percent and at a cost of just under $279,000. The buys come a few months after the company President and CEO made the last insider sale.
» FULL STORY | | | | |
| | Unusual Options Activity: Vodafone (VOD) | | | | Shares of telecom giant Vodafone (VOD) have been trending down since May. However, one trader sees a potential rebound in shares ahead in the next six months.
That's based on the April $17 calls. With 171 days until expiration, 60,066 contracts traded against a prior open interest of 364, for a 165-fold explosion in volume. The buyer of the calls paid $0.50 to make the trade.
» FULL STORY | | | | |
| | • | Investors Continue to Bet on Inflation
Investors continue to bet on inflation staying with the economy for some time. One key indicator, the 10-year break-even rate, is now pricing in the consumer price index to rise by an average of 2.64 over the next decade, the highest-such reading since 2012. | | | | • | Second Bitcoin ETF Starts Trading
A second exchange-traded fund in the Bitcoin space has launched over the weekend. The Valkyrie Bitcoin Strategy ETF (BTF) also employs futures contracts, rather than own underlying Bitcoin as an asset. A third futures ETF for Bitcoin may also launch next week. | | | | • | Business Groups Warn on Consequences of Vaccine Mandates
The National Association of Wholesale-Distributers, representing an industry with nearly six million workers, has warned that vaccine mandates may result in tens of thousands losing their jobs. The vaccine is mandatory for employees of federal contractors with a deadline of December 8. | | | | • | Snap Drops as Ad Business Hit Hard
Shares of social media company Snapchat (SNAP) dropped nearly 25 percent on Friday following the company's earnings. The company reported $1.07 billion in revenue against expectations of $1.11 billion, and total users were up. However, new privacy changes resulted in a disruption to advertising revenues. | | | | • | Trump SPAC Repeatedly Halted
Digital World Acquisition Corp (DWAC) shares were halted repeatedly on Friday as shares continued to soar higher. The company, which is taking a social media company tied to former President Donald Trump public, saw shares trade over $150 at one point, or about 15 times higher than their price before the deal was announced. | | |
| | | | TOP | | | SIVB | 7.342% | | | | EBAY | 6.102% | | | | STX | 5.806% | | | | AXP | 5.297% | | | | EFX | 5.245% | | | | BOTTOM | | | INTC | 11.973% | | | | FB | 5.774% | | | | MELI | 5.079% | | | | TWTR | 4.908% | | | | ALK | 4.448% | | | | |
| | |  | | In a quarter where we thought things would slow down and there was concern about what profit margins were going to look like, these [S&P 500] companies are still doing well. | | - Victoria Fernandez, chief market strategist at Crossmark Global Investments, on why the stock market is continuing to move higher, even with inflation and monetary policy concerns still overshadowing the markets. | |
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