Good morning. Social media platform Reddit came onto the map for investors last year with retail...
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 33,794.66 | -0.29% | | | | S&P 4,363.50 | -0.53% | | | | NASDAQ 13,537.94 | -1.56% | | | | | *As of market close | | | • | Stocks turned lower on Thursday, in volatile trading. | | | • | Oil dropped 1.8 percent, closing at $108.61 per barrel. | | | • | Gold rose 1.0 percent, going for $1,941 per ounce. | | | • | Cryptocurrencies dipped, with Bitcoin at $41,998 at the market close. | | | | | | | |
| | | Retail Remains Strong, Which Should Benefit This Industry Leader | | | | Although inflation remains high, consumers are continuing to buy. That might be to get ahead of continued expected price increases, or simply a reflection that the economy is running hot.
There are a number of ways to play the retail trend. Many have been reporting solid earnings right now. One recent reporter hasn't had good numbers, but the market likes what it has to hear anyway.
» FULL STORY | | | | |
| | Insider Trading Report: Coterra Energy (CTRA) | | | | Thomas Jorden, CEO, President and Chairman at Coterra Energy (CTRA), recently added 44,000 shares. The buy increased his holdings by 3.75 percent, and came to a total price of just over $1.02 million.
This marks the first insider buy at the company since late 2019. Insiders have otherwise been regular sellers of shares at the energy exploration and production company, primarily by employees at the Vice President level.
» FULL STORY | | | | |
| | Unusual Options Activity: Advanced Micro Devices (AMD) | | | | Shares of chipmaker Advanced Micro Devices (AMD) have been more volatile than the overall market in recent months. One trader sees shares moving higher in the next upswing in the market.
That's based on the March 11 $127 calls. With 7 days until expiration, 7,830 contracts traded compared to a prior open interest of 599, for a 13-fold jump in volume. The buyer of the calls paid $0.46 to make the trade.
» FULL STORY | | | | |
| | • | Jobless Claims Drop More than Expected
Initial jobless claims for the last week came in at 215,000. That's an 18,000 decrease from the prior week's level, and slightly under expectations. Economists are a bit wary this month, as January's initial data for employment and jobless claims looked worse than expected until revised data came in. | | | | • | Mortgage Rates Drop
Demand for bonds amid Russia's invasion of Ukraine has led to declining yields, which in turn has pushed down mortgage rates. After the 30-year fixed rate closed in on 4 percent, yields have now dropped to about 3.76 percent. Given the ongoing inflation and the Fed's commitment to hike rates, the window may be closing to lock in an ultra-low rate on a 30-year mortgage. | | | | • | China's Property Bond Market Remains Depressed
China's market for property-developer bonds remains well underwater, following last year's debt defaults at Evergrande. Other property managers have likewise had to contend with a slowing market, which has continued to push this once high-yield market into depressed value territory. | | | | • | Retailers Warn on Russia-Ukraine Conflict
A number of retailers have warned that Russia's invasion of Ukraine will impact their earnings this quarter, as those markets have become largely cut off from global retail trade right now. Retailers see the biggest uncertainty in how long the conflict will last, and some may continue to stay out of Russia altogether due to global sanctions. | | | | • | Spotify Shuts Down Russia Operations
Spotify (SPOT) has joined the ranks of companies ending operations in Russia due to the country's invasion of Ukraine. The company had just opened an office in Moscow last month, pursuant to a Russian law requiring anyone with an audience of over 500,000 to establish an office in the country this year. | | |
| | | | TOP | | | KR | 10.138% | | | | BBY | 9.223% | | | | BFB | 7.127% | | | | DLTR | 5.232% | | | | LUMN | 4.013% | | | | BOTTOM | | | EPAM | 11.857% | | | | IPGP | 9.204% | | | | ZM | 7.113% | | | | NTES | 6.776% | | | | JD | 6.735% | | | | |
| | |  | | Despite the difficult events in Ukraine, global equities have been fairly robust. Losses have been concentrated in stocks with direct Russia exposure and Financials. We still want to buy the dips, and highlight that global equities have ended 10-20% higher after previous geopolitical crises. | | - Robert Buckland, strategist at Citigroup, on why the overall market will likely trend higher when the current geopolitical crisis ends. | |
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