Good morning. Last week saw natural gas futures prices in Europe soar 40 percent the morning...
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 34,058.75 | +2.51% | | | | S&P 4,384.65 | +2.24% | | | | NASDAQ 13,694.62 | +1.64% | | | | *As of market close | | • | Stocks continued higher on Friday, with markets again closing near highs of the day. | | • | Oil dipped 0.5 percent, closing at 3$92. 9 per barrel. | | • | Gold sank 1.8 percent, ending the week at $1,892 per ounce. | | • | Cryptocurrencies moved slightly higher, with Bitcoin at $39,132 at the market close. | | | | | | | | | | Crypto Integration Remains Strong Amid Volatile Prices | | | | While cryptocurrencies can offer traders fast moves in either direction, the downward movement in prices in the past few months has scared off traders. But it hasn't scared off investors looking to develop cryptocurrency-related products with a long-term view in mind.
In fact, a growing interest in crypto payments is fueling growth for a number of companies that might otherwise have faced declining growth rates. » FULL STORY | | | | | | Insider Trading Report: A.O. Smith Corp (AOS) | | | | Michael Larsen, a director at A.O. Smith Corp (AOS), recently added 3,925 shares. The buy increased his holdings by 112 percent, and came to a total price of just over $274,000. This marks the first insider buy at the company in the past three years. Over that timeframe, company insiders have been active and regular sellers of shares, particularly among company directors. » FULL STORY | | | | | | Unusual Options Activity: Kohl's Corporation (KSS) | | | | Shares of discount clothing retailer Kohl's Corporation (KSS) jumped higher earlier this year on a report that the company had received a buyout offer. While the company has downplayed any buyout offer, one trader is betting that one could occur in the first half of the year.
That's based on the July $60 calls. With 136 days until expiration, 6,124 contracts traded compared to a prior open interest of 202, for a 30-fold jump in volume.
» FULL STORY | | | | | | • | Consumer Spending Rises 2.1 Percent in January
Consumer spending rose 2.1 percent in the US in January, more than twice as high as the 1 percent growth expected by economists. On an inflation-adjusted basis, the rise is still 1.5 percent. Consumer sentiment continues to drop however, which may be a sign that a larger percentage of increased spending is simply due to the effects of inflation. | | | | • | Year-Over-Year Consumer Spending His Highest Increase Since 1982
Over the past year, consumer spending has increased by 6.1 percent according to Commerce Department data. This is the highest rate of increase since 1982, about the same time that inflation was running as hot as it is now. Backing out food and energy costs, the rate was a somewhat lower 5.2 percent. | | | | • | SEC Proposes More Rules for Short Selling
The Securities and Exchange Commission has proposed a series of rules to increase the frequency and depth of data on short selling. That could help regulators better understand market events, and ensure that funds don't heavily short a stock and render it vulnerable to a short squeeze. | | | | • | Hack VC Raises $200 Million for Crypto Startup Investments
Hack VC is raising a $200 million seed fund which would invest in startup-level cryptocurrency companies. The initial fundraising was done last fall and involved 15 starting investments. This is part of a broader trend of increased investor interest in the crypto space, which hit record levels last year and shows no signs of slowing. | | | | • | Cyberwar Fears Rise Amid Russian Invasion of Ukraine
A number of analysts believe that the US and Western nations may be at a heightened risk of a cyberwar in the coming weeks. Ukraine has reported a number of cyberattacks targeting the government and banking system, coinciding with Russia's invasion of the country. | | | | | | TOP | | ETSY | 16.214% | | | DISH | 11.337% | | | MOS | 9.217% | | | NUE | 7.568% | | | MELI | 7.527% | | | BOTTOM | | MRNA | 3.136% | | | EOG | 2.561% | | | INTU | 2.002% | | | EBAY | 1.515% | | | HPE | 1.415% | | | | | | | | | While there may be some additional volatility in the short term, these dislocation events historically present opportunities, as long as recession doesn't follow. Higher energy prices will also support sticky inflation which may keep pressure on the Fed to stay on course. | | - Cliff Hodge, CIO at Cornerstone Wealth, on why Russia's invasion of the Ukraine isn't a slam dunk for an easy monetary policy to continue, as other factors still point to problems such as high inflation remaining persistent. | | |
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