Good morning. As with many geopolitical fears, the flare-up between Russia and the Ukraine...
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 34,566.17 | -0.49% | | | | S&P 4,401.66 | -0.38% | | | | NASDAQ 13,790.92 | -0.00% | | | | | *As of market close | | | • | Markets closed lower on Monday, having a wild day amid the latest war rumors. | | | • | Oil gained 2.0 percent going for $94.95 per barrel. | | | • | Gold rose 1.7 percent, last going for $1,874 per ounce. | | | • | Cryptocurrencies continued lower, with Bitcoin at $42,205 at the stock market close. | | | | | | | |
| | | Market Fears Create Opportunities in Industry-Leading Companies | | | | There's an old saying that the Chinese word for crisis is also the same word for opportunity. That can be the case in the stock market often, as short-term fears create long-term buying opportunities for astute investors.
That's the case with many beaten-down tech stocks right now. While there are still some pockets of overvaluation, a number of opportunities are available for industry-leading companies at a reasonable price right now.
» FULL STORY | | | | |
| | Insider Trading Report: Salient Midstream (SMM) | | | | Saba Capital Management, a major owner of Salient Midstream (SMM), recently added 35,636 shares. The buy increased the fund's holdings by over 1.2 percent, and came to a total purchase price of just over $261,000.
That adds on the fund's other buys, including another 38,000 shares added earlier in February, as well as nearly 100,00 shares in January and over 100,000 in December alone.
» FULL STORY | | | | |
| | Unusual Options Activity: Baker Hughes (BKR) | | | | Shares of oil services company Baker Hughes (BKR) have been trending higher over the past year. One trader sees the potential for a big move higher in the coming months.
That's based on the September $33 calls. With 212 days until expiration, 4,164 contracts traded against a prior open interest of 138, for a 30-fold jump in volume. The buyer of the calls paid $2.13 to make the trade.
» FULL STORY | | | | |
| | • | Fed May Consider Asset Sales to Curb Inflation
Esther George, the Kansas City Federal Reserve President, has stated that the bank should consider how to sell the $9 trillion of assets in its portfolio. Doing so could address inflation, and work to ensure that raising short-term interest rates doesn't cause those rates to move over long-term rates, which could bring on a recession. | | | | • | US Suspends Avocado Imports
The United States has suspended avocado imports from Mexico, citing a threat to USDA inspectors. The Mexican state of Michoacan is the only state authorized to export avocados to the US, and the state is in a region rife with criminal organizations vying for control. | | | | • | Food Delivery Services Still Unprofitable
A number of food delivery companies have seen their valuation drop considerably in recent months. The trend is partly due to the drop in demand as the pandemic has waned, and also a sign that investors are looking for companies that can not only grow, but make a profit as they do so. | | | | • | BlockFi to Pay Largest SEC Crypto Case Fine
Cryptocurrency broker BlockFi has agreed to pay a $100 million fine to the SEC. This is the largest penalty assessed in a crypto enforcement action. The fine is based on allegations that the company's crypto lending platform acts as a security, but wasn't registered as such. | | | | • | UK Authorities Make First NFT Seizure on Record
Members of Her Majesty's Revenue and Customs have seized three non-fungible tokens (NFTs) during a probe into suspected tax fraud. The seizure was part of a suspected value-added tax (VAT) fraud case worth $1.9 million. This marks the first time that the new asset class has been listed as seized by government officials. | | |
| | | | TOP | | | EXPE | 2.806% | | | | LVS | 2.513% | | | | NWL | 2.419% | | | | KMX | 2.295% | | | | AMD | 2.156% | | | | BOTTOM | | | MRNA | 12.336% | | | | CF | 6.613% | | | | APA | 6.283% | | | | MRO | 4.998% | | | | MOS | 4.886% | | | | |
| | |  | | Its conceivable equities see another pullback in the 10.0% range as investors sell first and ask questions later. Growth and defensives will likely outperform initially, yet we suspect value and cyclicals are best positioned for the global cyclical recovery. We encourage investors to adhere to long-term strategies during near-term volatility. | | - John Lynch, chief investment officer at Comerica Wealth Management, on how markets may react to the unfolding geopolitical situation, and why patience is needed to handle more short-term volatility.  | |
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