Good morning. Investing during a times of crisis can mean starting a small position as a hedge...
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 34,955.89 | +0.27% | | | | S&P 4,575.51 | +0.71% | | | | NASDAQ 14,354.90 | +1.31% | | | | *As of market close | | • | Stocks closed higher on Monday, reversing an intraday drop to close at the highs of the day. | | • | Oil slid 9.6 percent, closing at $102.96 per barrel. | | • | Gold dropped 1.9 percent, going for $1,917 per ounce. | | • | Cryptocurrencies generally rose, with Bitcoin at $47,886 at the market close. | | | | | | | | | | Finding the Best Value in a Former Growth Trend | | | | One of the best growth trends of the last decade was in streaming services. Starting as an ancillary platform for viewing shows online, a number of companies embraced the model. Many even started producing their own original content, and now top streaming companies are having their original productions nominated for –and winning—Oscars. But since Netflix (NFLX) proved it was a viable model, other media companies scrambled to create their own services leading to competition and slower growth. » FULL STORY | | | | | | Insider Trading Report: Agree Realty Corporation (ADC) | | | | Joey Agree, President and CEO of Agree Realty Corporation (ADC), recently picked up 1,560 shares. The buy increased his holdings by 0.3 percent, and came to a total purchase price of just over $100,000. That followed up on a buy he made the day before, for 1,749 shares at a cost of just under $112,000. Over the past three years, a number of company insiders have been buyers, with the last insider sale occurring back in June 2020. » FULL STORY | | | | | | Unusual Options Activity: Range Resources Corporation (RRC) | | | | Shares of oil and gas exploration company Range Resources Corporation (RRC) have been steadily rising over the past year. One trader sees that trend continuing through the rest of the year.
That's based on the January 2023 $40 calls. With 297 days until expiration, 6,378 contracts traded compared to an open interest of 224, for a 28-fold jump in volume. The buyer of the calls paid $4.90 to get into the trade.
» FULL STORY | | | | | | • | Oil Sinks as China Increases Lockdowns
The price of oil sank about 8 percent on Monday, as news came out that China was preparing to increase lockdowns due to Covid outbreaks. With a plan to lock down highly-populated Shanghai, traders are concerned on how that could lead to further shutdowns in the country, a key driver of energy use globally. | | | | • | Great Resignation Trend Starting to Reverse
The "Great Resignation" trend of the past year, with workers leaving jobs for ones with higher pay – or to simply take time off—seems to be winding down, and even reversing. The latest jobs data still shows more opening than available workers, but a return to a more normalized job market is coming about. | | | | • | Uber Inks Deal with NYC Taxis
Ridesharing company Uber (UBER) has reached a deal to list all New York City taxis on its app. The deal comes amid a driver shortage and rising fares, and taxi drivers in the Big Apple will now have less to fear from the app taking its business. | | | | • | Tesla Asks for Shareholder Approval on Stock Split
Tesla Motors (TSLA) stated that it would ask shareholders at its annual meeting to vote to increase the number of shares, which would allow the company to have a stock split. The news led to a rise in shares, even though there were no specifics on when a split would take place and the extent of the split. | | | | • | Bitcoin Turns Positive for 2022
Bitcoin, the largest cryptocurrency by market cap, pushed over $47,000 on Monday. The crypto is now up year-to-date, and is up about 5 percent over the past year. With no specific news driving the price higher, many are pointing to the ongoing adoption of cryptocurrencies as a store of wealth and institutional interest for the move. | | | | | | TOP | | TSLA | 7.104% | | | CEG | 5.353% | | | CCL | 5.275% | | | INTU | 4.498% | | | MELI | 4.314% | | | BOTTOM | | DISCA | 6.527% | | | DISCK | 6.28% | | | MOS | 4.878% | | | SLB | 4.602% | | | BKR | 4.584% | | | | | | | | | Equities are rallying despite a hawkish Fed and stagflation concerns, as many believe there is no alternative to stocks. | | - Mark Haefele, chief investment officer at UBS Global Wealth Management, on why investors are staying invested in stocks, as they offer better return potential than other asset classes such as bonds right now. | | |
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