 | | |  | DOW 34,754.93 | +0.80% | | | | | S&P 4,463.12 | +1.17% | | | | | NASDAQ 13,893.84 | +2.05% | | | | | *As of market close | | | • | Stocks continued higher on Friday, marking the best weekly performance since November. | | | • | Oil rose 1.5 percent, closing at $104.55 per barrel. | | | • | Gold dipped 1.3 percent, going for $1,918 per ounce. | | | • | Cryptocurrencies trended higher, with Bitcoin at $42,155 at the market close. | | | | | | | |
| | | Uncertain Economic Outlooks Play Well for Discount-Themed Plays | | | | With high inflation, rising interest rates, and a geopolitical drama unfolding, there's a lot of uncertainty in markets right now. It may not take much for the economy to potentially slip into a recession, even as some see low odds of that occurring.
When markets get uncertain, investors get defensive. One way to stay on the offense is to buy companies that have built a business model around being a discount player.
» FULL STORY | | | | |
| | Insider Trading Report: Desktop Metal (DM) | | | | Ric Fulop, CEO of Desktop Metal (DM), recently picked up 128,850 shares. The buy increased his holdings by 0.64 percent, and came to a total price just under $526,000.
This marks the first insider buy at the company since it went public last year. One company director has been a seller of shares on two occasions over the past two months, otherwise, insiders have been holding their position.
» FULL STORY | | | | |
| | Unusual Options Activity: Cameco (CCJ) | | | | Shares of uranium mining firm Cameco (CCJ) recently soared as calls for further nuclear power use have gained traction. One trader sees the potential for an even bigger gain in the next few months.
That's based on the September $40 calls. With 179 days until expiration, 18,390 contracts traded compared to an open interest of 306, for a 60-fold jump in volume on the trade. The buyer of the calls paid $1.48 to get in.
» FULL STORY | | | | |
| | • | Home Prices Soar 15 Percent Year-Over-Year
US home prices rose 15 percent in February compared to their prices in February 2021. The median home price rose to $357,300. The move has been fueled in part by strong demand for housing and low supply, even as sales have started to slow in recent months and mortgage rates have started to rise. | | | | • | Credit Bureaus to Remove Most Medical Debt
The three largest credit bureaus, Equifax, TransUnion, and Experian, are looking to phase out the reporting of medical debts from credit reports. The move will remove a total of billions of dollars in overall debts from reports, and make it easier for millions of Americans to borrow. | | | | • | Fed Governor Waller Calls for Half-Point Rate Hikes
Federal Reserve Governor Christopher Waller is calling for the central bank to increase interest rates by half points, rather than the current quarter point strategy. The Fed governor has cited the multi-decade high levels of inflation as a reason for moving faster. The governor also called for the Fed to start reducing its balance sheet of bond holdings soon. | | | | • | SEC Moves Forward on Delisting Chinese Stocks
The Securities and Exchange Commission is looking to delist some Chinese stocks from US exchanges, citing the lack of compliance with US auditing rules. The delisting would come as soon as 2024, and would start with smaller companies rather than larger Chinese-based companies trading on US exchanges. | | | | • | Porsche Unveils EV Roadster Concept
Porsche has announced that it expects 80 percent of its sales to be all electric vehicles by 2030. To that end, the company has unveiled an EV version of the Porsche 718, the company's mid-sized roadster. The company notes that its signature 911 model will continue to be offered in a combustion engine. | | |
| | | | TOP | | | EPAM | 8.899% | | | | MTCH | 7.957% | | | | HPQ | 7.944% | | | | CDAY | 6.898% | | | | NVDA | 6.497% | | | | BOTTOM | | | CEG | 4.119% | | | | FDX | 4.005% | | | | OXY | 3.077% | | | | CINF | 3.018% | | | | HCA | 2.675% | | | | |
| | |  | | Fortunately, investor expectations for inflation over the next five years was brought down quite a bit, which, if sustained, will continue [to] be helpful for the Fed and the markets despite somewhat higher interest rates. | | - John Vail, chief global strategist at Nikko Asset Management, on why investors are starting to see lower inflation expectations on a long timeframe, which could be supportive to financial markets in the coming weeks. | |
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