Good morning. Faced with rising inflation, the Bank of Canada has hiked its interest rates by 50...
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 34,564.59 | +1.01% | | | | | S&P 4,446.59 | +1.12% | | | | | NASDAQ 13,643.59 | +2.03% | | | | | *As of market close | | | • | Stocks rallied on Wednesday, with the Nasdaq closing 2 percent higher. | | | • | Oil rose 3.7 percent, closing at $104.32 per barrel. | | | • | Gold rallied 0.2 percent, going for $1,981 per ounce. | | | • | Cryptocurrencies moved higher, with Bitcoin at $41,057 at the market close. | | | | | | | |
| | | Strong Earnings Will Continue to Beat a Weak Economy | | | | Investors remain concerned as inflation is running at its hottest since 1981, and as commodity prices have spiked higher, weighing on the overall economy. But no matter how good or bad the economy has been, individual companies that have been able to grow their earnings can thrive in any market.
That's especially true when a company is in a space where poor performance in a weak economy is expected.
» FULL STORY | | | | |
| | Insider Trading Report: Invesco (IVZ) | | | | Trian Fund Management, a major holder at Invesco (IVZ), recently picked up 3,724,600 shares. The buy increased the fund's stake by just over 7 percent, and came to a total price of just over $86 million.
The buy comes as the fund bought nearly 10 million shares back in March, paying more than $210 million for that stake in total. Going further back, company insiders have been regular sellers of shares.
» FULL STORY | | | | |
| | Unusual Options Activity: PulteGroup (PHM) | | | | Shares of homebuilder PulteGroup (PHM) have been sliding in recent months. But one investor sees the possibility for a rally in the coming months.
That's based on the July $45 calls. With 92 days until expiration, 27,149 contracts traded compared to a prior open interest of 119, for a 228-fold rise in volume on the trade. The buyer of the calls paid $2.18 to get into the trade.
» FULL STORY | | | | |
| | • | Producer Prices Rise Most on Record
Producer prices rose 11.2 percent year-over-year in March. That's the highest level on record since the data point was first calculated in 2010. It's also a sizeable increase over the 10 percent rise in February. Producer prices measure input costs for goods, and is another way of monitoring inflation besides the consumer price index. | | | | • | Employees Fleeing Toxic Workplaces as Great Resignation Trend Continues
With millions of workers changing jobs in the past few years, surveys show that the number one reason for a change has been to escape a toxic company culture. A healthy work/life balance followed closely as the second reason. Currently, one-quarter of employees have resigned over the last six months, and one-third are considering quitting their jobs. | | | | • | UK Inflation Soares to 30-Year High
Inflation rates in the United Kingdom have hit 7 percent annualized. That's the highest level in 30 years, and an increase from the 6.2 percent rise noted in February. UK data shows this as the highest increase since records started in 1988, and the rising cost-of-living is hitting the biggest levels since the 1950s. | | | | • | Google Investing in US Offices, Data Centers
Alphabet (GOOG), owner of Google, is looking to invest $9.5 billion in US offices and data centers this year, an increase from the $7 billion spent in 2021. The expansion is estimated to create 12,000 full-time jobs. The company is opening a new office in Atlanta, and expanding its presence in New York City and Boulder, Colorado. | | | | • | Salsify Raises Capital at $2 Billion Valuation
E-commerce solution provider Salsify is raising $200 million in a Series F funding round at a $2 billion valuation. The company's last round of funding raised $155 million, but at an undisclosed valuation. The round is being led by a number of funds, and overall the company has raised over $450 million to help customers create a centralized ecommerce center. | | |
| | | | TOP | | | AAL | 10.566% | | | | HST | 8.123% | | | | ZM | 7.853% | | | | LUV | 7.508% | | | | MAR | 7.498% | | | | BOTTOM | | | ABBV | 4.358% | | | | JPM | 3.17% | | | | PYPL | 2.984% | | | | APTV | 1.903% | | | | LLY | 1.722% | | | | |
| | |  | | I think it's very likely inflation peaked. If it didn't peak in March, we're in the process of peaking. | | - Scott Minerd, Guggenheim Partners Global Chief Investment Officer, on why Tuesday's inflation reading is likely going to be the worst before inflation rates start to slow later in the year. | |
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