Good morning. Europe is backing an embargo of Russian coal. As a result, demand for coal from...
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 34,721.12 | +0.40% | | | | S&P 4,488.28 | -0.27% | | | | NASDAQ 13,711.00 | -1.34% | | | | *As of market close | | • | Stocks traded mixed on Friday, with the Dow closing higher as the S&P 500 and Nasdaq slid. | | • | Oil rallied 2 percent, closing at $97.97 per barrel. | | • | Gold rose 0.6 percent, going for $1,949 per ounce. | | • | Cryptocurrencies traded flat, with Bitcoin at $42,806 at the market close. | | | | | | | | | | In the Retail Trade, Stick with This Key Metric | | | | Every sector has a key metric that may be more important than things like earnings or profit margins in the short-term. For instance, the restaurant industry may look at how many times its tables turn over customers during the course of an evening.
For retailers, the key metric is same-store sales. It cuts through the false growth that could be reported if a company is expanding by opening new locations, even if it may be cannibalizing existing locations. » FULL STORY | | | | | | Insider Trading Report: PG&E Corp (PCG) | | | | Newtyn Management, LLC, a major holder of PG&E Corp (PCG), recently added to their position with a 2,400 share buy. The purchase increased their holdings by just under 0.2 percent, and came to a total price of just over $58,000.
This is the second buy from the fund this month, following up on another 2,400 share buy. And the fund made a 363,468 share buy in April for over $9.4 million. Two company directors were also small buyers of shares last year. The last insider sales occurred in 2018. » FULL STORY | | | | | | Unusual Options Activity: Kinross Gold Corp (KGC) | | | | Shares of Kinross Gold Corp (KGC) have been knocked down over 20 percent in the past year, although shares have been starting to slightly trend up in the last week. One trader sees the possibility for a big move in shares.
That's based on the September $8 calls. With 158 days left to trade, 51,342 contracts traded compared to an open interest of 791, for a 65-fold jump in volume on the option. The buyer of the calls paid $0.22 to make the trade.
» FULL STORY | | | | | | • | Bullard Warns Fed "Behind the Curve"
James Bullard, President of the St. Louis Federal Reserve, warns that the central bank is "behind the curve" on raising interest rates to curb inflation. He states that based on a rules-based approach, the central bank may want to raise its borrowing rate to 3.5 percent, well over the current level of 0.25 percent. | | | | • | Consumer Debt Rose $40 Billion in February
Consumer Debt rose to $4.5 trillion in February, a $40 billion rise. It's also a seasonally-adjusted increase of 11.3 percent, and far in excess of January's growth of 2.4 percent. That includes a 20.7 percent boost in the use of credit cards, to $1.1 trillion. The increase comes as inflation rates have hit a multi-decade high. | | | | • | Corporate Bonds Face Worst Year Since 1980
Year-to-date, the corporate bond market has fallen by 7 percent this year. That's the worst quarterly performance since 1980. That's also slightly more excessive than the 5.6 percent drop in the Treasury market since the start of the year as yields have started to rise. With even higher yields in sight, further losses on bond prices appear likely. | | | | • | Walmart Offers $110,000 Starting Pay for Truck Drivers
Retailer Walmart (WMT) is raising starting pay for in-house truck drivers to as high as $110,000 per year. The company is also expanding a program to train existing workers to become drivers. That's a significant increase from the existing salary of $87,000. | | | | • | Tencent Shutting Down Game Streaming Service
China-based Tencent is shutting down its video game streaming service. The world's largest video games company states that it is doing so due to "changes in business strategies." The company has already owned the two largest gaming streaming platforms in China, and at one point had over 70 percent of the market. | | | | | | TOP | | EPAM | 11.488% | | | CTRA | 7.335% | | | OXY | 6.923% | | | DISH | 6.482% | | | DISCA | 6.004% | | | BOTTOM | | MPWR | 5.783% | | | ENPH | 5.562% | | | NVDA | 4.466% | | | SEDG | 4.169% | | | ETSY | 3.795% | | | | | | | | | We're in a trading range market and it's going to be this way for some time. And it's really because we just have so many unknowns to deal with. | | - Stephanie Link, chief investment strategist and portfolio manager at Hightower, on why traders might not want to get too bullish or bearish right now given the mixed economic data coming out right now. | | |
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