Good morning. The stock market's rally yesterday was a welcome change after four down days in a...
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 33,285.65 | +2.00% | | | | S&P 4,277.88 | +2.57% | | | | NASDAQ 13,255.55 | +3.59% | | | | *As of market close | | • | Stocks rallied strongly on Wednesday, reversing several days of losses. | | • | Oil sank 11.3 percent, closing at $109.72 per barrel. | | • | Gold dropped 2.4 percent, going for $1,995 per ounce. | | • | Cryptocurrencies jumped higher, with Bitcoin at $41,839 at the market close. | | | | | | | | | | Stick With Companies Capable of Growing with Inflation | | | | While the market has been contending with the latest geopolitical headlines in the short-term, longer-term trends are still in play. That means high levels of inflation, whose growth may moderate later this year, but will likely still remain high. As one of the largest trends, investors should look at investing in companies that are capable of growing alongside inflation, rather than losing profit margin as customers start to look for cheaper bargains elsewhere. » FULL STORY | | | | | | Insider Trading Report: Digital Turbine (APPS) | | | | Michelle Sterling, a director at Digital Turbine (APPS), recently added 1,000 shares. The buy increased her stake by 2.6 percent, and came to a total purchase price of just under $37,000. This marks the first insider buy of the year. Insiders were last active buying shares at higher prices in November and December last year. The buys have been overshadowed by a sale from the company CEO earlier this month. Over the past three years, however, insider buys have exceeded insider sales. » FULL STORY | | | | | | Unusual Options Activity: Corning Incorporated (GLW) | | | | Shares of display technology Corning International (GLW) are down slightly over the past year. One trader sees a rebound ahead in the coming months.
That's based on the May $42 calls. With 70 days until expiration, 18,242 contracts traded compared to a prior open interest of 585, for a 31-fold jump in volume. The buyer of the calls paid $0.87 to make the trade.
» FULL STORY | | | | | | • | Job Openings Steady at 11.3 Million
As of January, 11.3 million jobs remained open in America, slightly larger than expectations. Revised numbers for December indicate a record high of 11.4 million jobs, breaking the previous peak of 11.1 million openings in July, 2021. The openings reflect a shortage in several industries, particularly hospitality and service jobs. | | | | • | White House Orders Study of Cryptocurrency Risk
President Biden has signed an executive order asking federal agencies to study the risks presented by cryptocurrencies, as well as the potential creation of a US digital currency. The move comes as cryptocurrencies have increased in popularity as an asset class, and as their potential to move money outside the existing financial system has come under scrutiny. | | | | • | Feds Investigating Options Trades Ahead of Microsoft-Activision Deal
The Department of Justice is investigating a number of traders who may have violated securities laws by buying options in Activision Blizzard (ATVI) ahead of its buyout offer by Microsoft (MSFT). Barry Diller, Alexander von Furstenberg and David Geffen bought options on the stock 4 days before the buyout offer for $95 per share came in. | | | | • | House Committee Urges DOJ Investigation of Amazon
The House Judiciary Committee is asking the Department of Justice to investigate Amazon (AMZN) over a potentially criminal obstruction. A letter sent to the Attorney General notes that the company repeatedly misled the committee during a 16-month probe into the company's competitive practices, as well as the practices of other big tech players. | | | | • | Uber Eats Adds Bill-Splitting Option
Uber (UBER) has added a feature to Uber Eats allowing for a bill to be split among a group. The feature is being relaunched after being shut down during the pandemic. One user can set a deadline for submitting an order, with reminders being sent out for those who haven't put in their order or made payment arrangements. | | | | | | TOP | | MTCH | 12.805% | | | TPR | 10.638% | | | CZR | 10.464% | | | MRNA | 10.218% | | | CCL | 8.753% | | | BOTTOM | | PSX | 5.883% | | | XOM | 5.685% | | | SLB | 5.59% | | | HAL | 5.223% | | | VLO | 3.755% | | | | | | | | | The strength of the U.S. labor market, consumer and aggregate corporate sector should act as the weight to keep us out of recession near-term. Overall, volatility is likely to persist, [there's a] wide range of outcomes possible in Ukraine, but the fundamentals of the U.S. economy still look decent, especially if the Fed can navigate raising rates without breaking demand. | | - Ross Mayfield, investment strategy analyst at Baird, on why rising commodity prices are likely to lead to continued volatility, but why the US may escape a recession. | | |
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