Good morning. The term "unicorn" was created to describe startup companies that had a valuation...
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 34,746.71 | -0.02% | | | | S&P 4,391.42 | -0.19% | | | | NASDAQ 14,579.54 | -0.51% | | | | *As of market close | | • | Stocks closed lower going into the weekend, as weak payroll data came in. | | • | Oil rose 1.6 percent, closing at $79.57 per barrel. | | • | Gold traded flat, last going for $1,757 per ounce. last going for $1,757 per ounce. | | • | Cryptocurrencies generally rose, with Bitcoin at $54,676 at the stock market close. | | | | | | | | | | Improving Guidance May Send This Sector Back Toward a High | | | | Most companies are having a solid year, even when comparing their sales and earnings to post-pandemic quarters. However, a few sectors haven't fared too well in recent months and have missed out on most of 2021's gains.
One such area is with pot stocks. These companies were popular at the start of the year, but have since been lagging the overall market. But that may be about to change. » FULL STORY | | | | | | Insider Trading Report: Asana Inc (ASAN) | | | | Dustin Moskovitz, President and CEO of Asana Inc (ASAN), recently acquired another 500,000 shares. The buy increased his holdings by nearly 6 percent, and came to a total purchase price of just under $50 million.
This marks the CEO's third buy in the past month, now totaling over 1 million shares. Over the same timeframe, other company insiders have been sellers of smaller amounts of shares, showing considerable overall activity, even for a tech company. » FULL STORY | | | | | | Unusual Options Activity: Alcoa Corporation (AA) | | | | Shares of aluminum processor Alcoa Corporation (AA) have been moving steadily higher over the past year amid a booming commodity market. One trader sees that trend continuing into the first half of next year.
That's based on the June $55 calls. With 249 days left before expiration, over 6,525 contracts traded against a prior open interest of 161, for a 41-fold rise in volume. The buyer of the calls paid $5.13 to make the trade.
» FULL STORY | | | | | | • | US Economy Adds 194,000 Jobs in September
While private payroll data indicated that nearly half a million jobs may have been created in September, government data indicates a mere 194,000 jobs were created in September. That indicates the economy has a ways to go until normal, but the unemployment rate has dropped to 4.8 percent on the news. | | | | • | Covid Cases Drop Under 100K Per Day
After spiking higher in the summer, cases of Covid have dropped from an average of 172,500 per day in September to under 100,000 per day, the lowest level since early August. Hospitalizations have dropped from 104,000 to 69,000. Data also indicates that more than 56 percent of the population has been fully immunized against the virus. | | | | • | Evergrande Growth Shows Similarities to Housing Bubble
The growth of now-imploding Evergrande shows many similarities to the US housing bubble of the late 2000s. Rising prices and debt loads were ignored, regulators downplayed risks, and investors interested in higher yields continued to allow the company to finance its debts. | | | | • | Rising Natural Gas Prices May Push Producers to Oil
Natural gas prices have been spiking higher in recent weeks. In some parts of Europe, the cost has been the equivalent of $200 per barrel of oil. With those prices, a number of energy producers may be looking to shift back to oil, even though it's not as clean-burning as natural gas. The move could also mean higher oil prices for longer in the months ahead. | | | | • | Tesla Makes Move to Austin
Electric carmaker Tesla Motors (TSLA) has joined a number of other companies relocating out of the high-cost Bay Area (and regulatory-heavy California). The company's new headquarters will be in Austin, Texas, even as the company still works to expand its Gigafactory in California. | | | | | | TOP | | APA | 6.623% | | | HES | 6.542% | | | EOG | 5.519% | | | COP | 4.776% | | | MRO | 4.622% | | | BOTTOM | | CTXS | 5.259% | | | HBI | 4.977% | | | CHTR | 4.817% | | | CMCSA | 4.574% | | | ALB | 3.747% | | | | | | | | | Investors still have dry powder given money markets' (assets under management) of $4.5 trillion. Equities are the only asset class to produce positive real yields and tend to perform well in a higher inflation regime…Equities are less complacent now, as investors rotated back towards defensives in Q3 and added downside hedges. Q4 seasonality is typically supportive of equities vs. bonds. | | - Emmanuel Cau, Head of European Equity Strategy at Barclays, on why the stock market will likely be the top performing asset class into the final months of 2021. | | |
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