Good morning. Tracking economic growth (or decline) in real-time is tricky. By the time statistic...
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 34,911.20 | +1.45% | | | | S&P 4,462.21 | +1.61% | | | | NASDAQ 13,619.66 | +2.15% | | | | *As of market close | | • | Stocks rallied strongly on Tuesday, closing near highs of the day. | | • | Oil dropped 5.3 percent, closing at $102.50 per barrel. | | • | Gold slid 1.9 percent, ending at $1,949 per ounce. | | • | Cryptocurrencies generally rallied, with Bitcoin at $41,325 at the stock market close. | | | | | | | | | | In an Oligopoly Market, Buy Where the Growth Lies | | | | Many sectors of the market trend towards an oligopoly, where a small number of players will dominate the market. One such example is the media industry, where six large corporations control about 90 percent of the news today. Other sectors also have this factor at work. Smaller companies end up being bought out by larger companies, and the largest companies tend to jockey for position based on their ability to grow. » FULL STORY | | | | | | Insider Trading Report: iHeartMedia Inc (IHRT) | | | | Global Media & Entertainment, a major owner of iHeartMedia Inc (IHRT), recently added 3,908,826 shares. The buy increased the fund's stake by just over 17 percent, and came to a total purchase price of $74.1 million. Company insiders, including directors, C-suite executives, and other major holders, have generally been buyers of shares over the past three years, with only one sale by an institution in October 2021. » FULL STORY | | | | | | Unusual Options Activity: Intel (INTC) | | | | Shares of chipmaker Intel (INTC) have been a poor performer in the past year, but the company has had some surges higher. One trader sees another such move playing out in the weeks ahead. That's based on the May 28th $50 calls. With 37 days until expiration, 16,101 contracts traded against an open interest of 261, for a 71-fold surge in volume on the contract. The buyer of the calls paid $0.17 to get into the trade.
» FULL STORY | | | | | | • | IMF Sees Rising Risks to World Economy
The International Monetary Fund has cut global growth rate expectations in the wake of Russia's invasion of Ukraine. The IMF notes that risks to the global economy have risen sharply. The group cut its global GDP estimates by 0.2-0.8 percent, with a projected 3.6 percent increase in global GDP this year and for 2023. | | | | • | First Time Homebuyers Dropping as Prices, Mortgage Rates Rise
First-time homebuyers are quickly dropping out of the housing market. The combination of rising prices over the past two years and now rapidly-rising mortgage rates are making it difficult to finance down payments and cover financing costs. | | | | • | Blackstone Makes Big Buy in Student Housing
Blackstone Group (BX) has been a major buyer of single-family residences. Now, the firm is moving into student housing. The company has made a $13 billion deal to acquire American Campus Communities (ACC). The deal includes the company's existing debt, and will allow the company to benefit as students return to in-person learning. | | | | • | Natural Gas Prices Spike to 2008 Highs
Natural gas prices soared to nearly $8 per mBTUs late Monday, on news that a Nor'easter was set to hit the Northeastern US with snow. That's the highest level for natural gas since September 2008. And, over the past year, natural gas prices are now up 113 percent. | | | | • | Apple Increases Use of Recycled Materials
Apple (AAPL) reports that it has more than doubled the use of its recycled materials, now around 20 percent of all materials use. That includes a 59 percent use of recycled aluminum. And the company reports that it has used recycled gold for the first time in its ecosystem of products. | | | | | | TOP | | SBNY | 8.094% | | | ABMD | 7.207% | | | GNRC | 7.165% | | | CFG | 6.937% | | | SIVG | 6.635% | | | BOTTOM | | XRAY | 13.106% | | | TWTR | 4.788% | | | TRV | 4.784% | | | NOV | 4.22% | | | PFE | 3.193% | | | | | | | | | Can the Fed raising rates actually solve some of the shortages we have with labor, with semiconductors, with wheat? Probably not. So maybe they're going to act a little bit less aggressively in the end than some people think. | | - Adam Parker of Trivariate Research, explaining why the Federal Reserve will likely not hike interest rates as much as have been priced into the markets in recent months, given ongoing shortages elsewhere in the market. | | |
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