Good morning. The weekend saw a number of companies pull their investment and operating...
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 33,892.60 | -0.49% | | | | S&P 4,373.94 | -0.24% | | | | NASDAQ 13,751.40 | +0.41% | | | | *As of market close | | • | Stocks traded mixed on Monday, with the Nasdaq ending higher. | | • | Oil rallied 4.7 percent, closing at $95.93 per barrel. | | • | Gold rose 1.3 percent, going for $1,912 per ounce. | | • | Cryptocurrencies jumped higher, with Bitcoin at $41,667 at the market close. | | | | | | | | | | Strong Tailwinds and Massive Buyback Program Make This Tech Play Worth a Buy | | | | Stock buybacks can help move share prices higher in two ways. First, they simply act as buying pressure on a stock. Second, they help reduce the total share count, so a company can increase its earnings per share without increasing earnings. A number of companies have been increasing share buybacks as their operations have improved over the past year. One such player just made a huge increase to its buyback. » FULL STORY | | | | | | Insider Trading Report: Synovus Financial Corp (SNV) | | | | Kevin Blair, President and CEO at Synovus Financial Corp (SNV), recently bought 3,100 shares. The buy increased his holdings by 3.5 percent, and came to a total price of just over $150,000. This marks the first insider buy at the company since last April. Company insiders have been active sellers over the past few months as shares have trended higher. The last big insider buy occurred in early 2020. » FULL STORY | | | | | | Unusual Options Activity: Kinder Morgan Inc (KMI) | | | | Shares of pipeline company Kinder Morgan Inc (KMI) are up about 11 percent in the past year, about in-line with the S&P 500. One trader sees a further rally in shares from here.
That's based on the April 1 $18 calls. With 30 days until expiration, 6,102 contracts traded against a prior open interest of 145, for a 62-fold increase in trading volume. The buyer of the calls paid $0.18 to make the trade.
» FULL STORY | | | | | | • | Russian Ruble Sinks Amid Rising Sanctions
The Russian ruble fell as much as 30 percent against the US dollar over the weekend, as rising sanctions from Western countries weighed on the currency. Russian stocks trading on foreign exchanges likewise dropped, even as Russia kept its domestic stock market closed as the invasion of Ukraine continues. | | | | • | Traders Bet on Steady Rate Hikes
Even with rapidly-changing events, traders expect that the Federal Reserve will start hiking interest rates this month. And that rates will continue to rise steadily throughout the year. For now, traders making this bet see the Russia-Ukraine conflict as one that will remain contained. | | | | • | Target Boosts Starting Pay as High as $24 Per Hour
Retailer Target (TGT) set a company-wide minimum wage of $15 per hour in 2020. However, in some markets and for some jobs, starting rates could be as high as $24 per hours. Target has also lowered the number of weekly hours to qualify for the company medical plan from 30 hours to 25, in a bid to retain workers amid a tight labor market. | | | | • | TikTok Expands video Length to 10 Minutes
Social media platform TikTok is looking to expand its video length to 10 minutes. The maximum length is currently 3 minutes, after being expanded from 60 and 15 seconds before. The longer time is expected to give creators more time and flexibility in creating content. | | | | • | JPMorgan Chase Expands Private Deal Capacity
JPMorgan Chase (JPM) is expanding its business for providing services to startups and startup investors with an internal fintech investment. Known as Project Bloom, the suite of products includes the ability to match startup companies with prospective investors to help with fundraising. | | | | | | TOP | | SEDG | 13.003% | | | OXY | 11.397% | | | ENPH | 7.63% | | | LHX | 7.135% | | | DVN | 6.377% | | | BOTTOM | | EPAM | 45.865% | | | VTRS | 23.556% | | | XRAY | 7.301% | | | IPGP | 6.845% | | | APTV | 5.956% | | | | | | | | | It's a headline-driven market, and as we get some resolution and see what happens with Russia and Ukraine, the focus will be back on the Fed again. | | - Paul Hickey of Bespoke Investment Group, on why the market strongly rallied last week in spite of Russia's invasion of Ukraine, and why markets may yet decline again based on monetary policy changes. | | |
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