| | | | DOW 34,988.84 | +1.22% | | | | S&P 4,471.01 | +1.58% | | | | NASDAQ 14,139.76 | +2.53% | | | | *As of market close | | • | Markets jumped higher on Tuesday, as war fears declined. | | • | Oil dropped 3.7 percent going for $91.98 per barrel. | | • | Gold sank 0.8 percent, last going for $1,854 per ounce. | | • | Cryptocurrencies trended higher, with Bitcoin at $44,149 at the stock market close. | | | | | | | | | | This Hot Market Stands to Get Hotter, So Stay Invested Here | | | | It's no surprise that conventional energy stocks have been strong performers in the past year. From industry leaders to smaller players, rising energy prices have fueled market-beating performance. With oil nearing $100 per barrel, it may be unthinkable, but the commodity could further rally further.
Given the amount of insider trades and unusual options activity in the energy sector we've seen over the past year and a half, it's clear that institutional investors and experts are betting on a further rally as well. » FULL STORY | | | | | | Insider Trading Report: CVS Health Corp (CVS) | | | | Edward Ludwig, a director at CVS Health Corp (CVS), recently added 1,000 shares. The buy increased his holdings by 3.5 percent and came to a total price of just under $106,000.
The director was also responsible for the last insider buy at the company last August, with a 3,000 share pickup for just under $239,000. Otherwise, company insiders have largely been sellers at the drugstore chain. » FULL STORY | | | | | | Unusual Options Activity: Pinterest (PINS) | | | | Shares of social media company Pinterest (PINS) have been in a steady downtrend for the past year, shedding more than two-thirds of their value. One trader sees the potential for a rebound ahead.
That's based on the March $25 call option. With 29 days until expiration, 12,053 contracts traded compared to an open interest of 621, for a 19-fold jump in volume. The buyer of the calls paid $1.89 to make the trade.
» FULL STORY | | | | | | • | Producer Price Index Rises 1 Percent in January
The producer price index, a measure of price changes for America's producers, rose 1 percent in January, adjusted for seasonal swings. Economists had forecast an increase of only 0.5 percent. Over the past year, the index is up 9.7 percent, showing a high level of inflation at the producer level, and a sign that inflation trends remain strong as the Fed prepares to hike interest rates. | | | | • | Farm Prices See Big Inflation Jumps
Farmers are seeing higher prices for chemicals, seeds, and particularly fertilizer, where it's even available. That's likely to continue to push up food prices, even after food prices hit a decade-high jump in prices in 2021. That's before other factors like the weather come into play, which can also help or hinder crop production. | | | | • | VIntel Makes Offer for Tower Semiconductor
Chip giant Intel (INTC) has made a $5.4 billion offer to acquire Tower Semiconductor (TSEM). The deal would allow Intel to build on its strategy of creating custom foundries, for which the company has already committed $20 billion to make. | | | | • | Virgin Galactic Opens Ticket Window
Virgin Galactic (SPCE) has opened up its ticket sales for those looking for one of its spaceflights. Ticket prices start at $450,000, with a deposit of $150,000 ($25,000 is refundable). A number of package deals are available beyond single-ticket purchases, including the chance to book an entire flight. | | | | • | Musk Gives Away $5.7 Billion
Tesla Motors (TSLA) CEO Elon Musk gave away more than 5 million shares of the company, valued at $5.7 billion, at the end of 2021, according to SEC filings. For now, the CEO hasn't revealed the recipient of the shares, but the amount is close to the $6 billion the UN World Food Program has stated it could use to end world hunger. | | | | | | TOP | | MPWR | 10.013% | | | NVDA | 8.811% | | | AAL | 8.032% | | | HSIC | 7.93% | | | EPAM | 7.705% | | | BOTTOM | | FIS | 7.677% | | | IPGP | 6.511% | | | STZ | 6.077% | | | IQV | 4.873% | | | CRL | 4.751% | | | | | | | | | I do think we need to front-load more of our planned removal of accommodation than we would have previously. We've been surprised to the upside on inflation. This is a lot of inflation/Our credibility is on the line here and we do have to react to the data. However, I do think we can do it in a way that's organized and not disruptive to markets. | | - James Bullard, President of the St. Louis Federal Reserve, on why the central bank should start raising interest rates faster than a quarter point at a time to shock inflation out of the economy. | | |
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