 | | |  Good morning. One of the best investment opportunities today might just be found in your couch cushions. That's because the price of nickel, the metal, has been soaring. That means that the nickel content of a nickel, the coin, is now worth more than double its face value of five cents.
Sure, there's the obvious joke that the government can lose money literally producing money, but nickel is useful in a variety of high-tech applications such as electric vehicles. While the London Metals Exchange has limited trading in the metal in recent days to try and walk back the recent explosion in price, markets can only be tamped down for so long. The exchange has seen trading days where the price has hit its limit going up and going down.
For years, some traders have talked about hoarding nickels to melt them down, but the better play here might be in nickel-producing commodity companies, which should benefit over the long term, even if daily price volatility in the metal settles down.
Now here's the rest of the news: | | | | | |
| | |  | DOW 34,707.94 | +1.02% | | | | S&P 4,520.16 | +1.43% | | | | NASDAQ 14,191.84 | +1.93% | | | | | *As of market close | | | • | Stocks rallied on Thursday, with markets closing near highs of the day. | | | • | Oil dropped 3.2 percent, closing at $111.28 per barrel. | | | • | Gold rose 1.3 percent, going for $1,962 per ounce. | | | • | Cryptocurrencies rose, with Bitcoin at $43,889 at the market close. | | | | | | | |
| | | Pick Up This "Third Time's the Charm" Brand Giant Today | | | | Companies constantly need to reinvent themselves to stay competitive. Sometimes, a change of management can break the stale company culture and breathe new life into a company. However, sometimes new management may stray too far, or, worse, not make new big and bold change to move the needle.
When new management comes along, traders may not always know what they're going to get. But when a former manager comes back to a company, it can sometimes lead to resurgent growth and a renewed focus.
» FULL STORY | | | | |
| | Insider Trading Report: GameStop Corp (GME) | | | | Ryan Cohen, Chairman and major owner of video game platform GameStop (GME), recently bought 100,000 shares on the open market. The buy increased his holdings by 1.1 percent, and came to a total price of just over $10.175 million.
This marks the first big buy at the company since Cohen's last buy in December 2020. A number of company directors made some small sales back in January and June 2021, otherwise, company insiders have been buying and holding.
» FULL STORY | | | | |
| | Unusual Options Activity: Xerox Holdings Corporation (XRX) | | | | Shares of information technology company Xerox Holdings Corporation (XRX) have been trending slightly down over the past year, with some periodic spikes higher in price. One trader is betting on a rally in shares in the next few months.
That's based on the May $23 calls. With 56 days until expiration, 4,800 contracts traded compared to a prior open interest of 105, for a 46-fold jump in volume. The buyer of the calls paid $0.22 to make the trade.
» FULL STORY | | | | |
| | • | Oil Rises on Pipeline Outage Concerns
Russia has warned that its Caspian Pipeline System may be offline for more than a month due to storm damage. The pipeline carries oil to the Black Sea. Repairs are underway, but until the pipeline is fully up and running, Russia may reduce its oil imports by 1 million barrels per day, which has led to another jump higher for oil prices. | | | | • | Jobless Claims Drop to Lowest Level Since 1969
Initial jobless claims fell to 187,000 in the past week, according to Labor Department data. That's the lowest level of initial claims since 1969, and indicates that the labor market remains tight right now as job openings exceed applicants. The four-week average has also dropped by 11,500 to 211,750. | | | | • | Mortgage Rates Surge Higher
30-year fixed rate mortgages continue to rise, with the latest reading hitting 4.4 percent. That's the highest level since January 2019. Over the past week, rates have increased by over one-quarter of a percentage point, and rates are 1.25 percent higher compared to the same week a year ago. Higher interest rates could curb today's high-flying home sales and prices. | | | | • | Billionaire Fink Sees End to Globalization
Billionaire Larry Fink of the world's largest asset manager, BlackRock (BLK), says that Russia's invasion of Ukraine marks the end of globalization. The three-decade long trend of increasing trade between nations is likely to be reversed as communities start looking more inward than outward, as seen by Western sanctions. | | | | • | Coinbase Expands Operations into India
Cryptocurrency brokerage firm Coinbase (COIN) is expanding payment instruments into India, the world's second-largest internet market. The new payment methods could increase the attractiveness of making cryptocurrency investments there. The platform is now supporting UPI, a payment method system popular in that country. | | |
| | | | TOP | | | NVDA | 9.304% | | | | INTC | 6.528% | | | | MPWR | 6.094% | | | | AMD | 5.284% | | | | AMAT | 5.003% | | | | BOTTOM | | | EPAM | 4.98% | | | | JD | 4.923% | | | | NTES | 3.635% | | | | BIDU | 3.467% | | | | OXY | 3.292% | | | | |
| | |  | | The idea of having a soft landing was always going to be really challenging, and when you think about the additional wrinkle of a complication of Russia invasion of the past month, and the surge in commodity prices, it makes it super difficult for Fed to calibrate. | | - Michael Schumacher, head of macro strategy at Wells Fargo Securities, on why the Fed may not be able to adjust interest rates to avoid a recession later in the year given the multiple issues facing the global economy right now. | |
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