 | | |  Good morning. There's an old saying that people vote with their feet. The past two years of rent data, as compiled by Realtor.com, indicates that the pandemic sent many Americans toward the Sunbelt. From Riverside, California to Tampa, Florida, the lowermost states saw larger rent growth than in ones north of the sun belt.
Overall, rents in these areas jumped 58 percent over the past two years, a level that may bring some skepticism about the government's official inflation rates. It also helps that many of these states, such as Texas, Florida, and Tennessee, are tax-friendly at the state level. The migration of Americans from snowy and high-tax climates to more year-round sun and lower taxes will likely continue, especially with inflation so high right now.
Investors should target companies growing in those areas seeing the most population growth for the best returns going forward.
Now here's the rest of the news: | | | | | |
| | |  | DOW 34,451.23 | -0.33% | | | | | S&P 4,392.59 | -1.21% | | | | | NASDAQ 13,351.08 | -2.14% | | | | | *As of market close | | | • | Stocks were closed on Friday, in observation of Good Friday. | | | | | | | |
| | | Stick With Commodity Plays as the Boom Continues | | | | After a massive surge higher in a number of commodities as Russia invaded Ukraine, prices for many such goods have come back down a bit. But company executives remain bullish on the space, and with ongoing tensions in many parts of the world, not to mention high inflation, the commodity bull market appears here to stay.
Investors who buy top commodity stocks now, even with shares near 52-week or even multi-year highs, can continue to play this trend higher.
» FULL STORY | | | | |
| | Insider Trading Report: Dakota Gold Corp (DC) | | | | Robert Quartermain, a director and major holder at Dakota Gold Corp (DC), recently picked up 10,000 shares. The buy increased his stake by 0.14 percent, and came to a total purchase price of just under $50,000.
The buy comes just a few days after the company President and CEO picked up 12,500 shares, at a price of just under $59,000. That constitutes the only two insider transactions since the company went public just a few weeks ago.
» FULL STORY | | | | |
| | Unusual Options Activity: AT&T (T) | | | | Shares of telecom company AT&T (T) dropped recently as the company completed a spinoff of its media properties. However, shares have been trending higher since. One trader sees a further move higher over the summer.
That's based on the September $22 calls. With 151 days until expiration, 3,603 contracts traded, a 24-fold jump in volume from the prior open interest of 150. The buyer of the calls paid $0.35 to make the trade.
» FULL STORY | | | | |
| | • | Retail Crime Hits Record High
The combination of the pandemic and increasingly lax law enforcement against retail theft has led to a surge in some areas. Retailers are reporting record losses due to theft, which drives up prices for paying customers. The trend is potentially strong enough to continue to weigh on inflation, even as the Fed raises interest rates. | | | | • | Tight Labor Market Indicates High Job Security
Jobless claims are at their lowest level since 1968. And job openings continue to come in at higher levels than available employees. That indicates that job security is at its highest levels since the late 1960s as well, especially with employers losing key employees amidst a trend known as the Great Resignation. | | | | • | Walmart Removing Cigarettes in Some Stores
America's largest retailer is backing out of tobacco sales. Walmart (WMT) reports that cigarettes are being removed in some markets, starting with California, Florida, Arkansas, and New Mexico. The move comes after the company raised the minimum age to buy tobacco to 21 back in 2019. | | | | • | Musk Defends Twitter Buyout Offer
Billionaire Elon Musk defended his offer to buy out Twitter (TWTR) and take the company private. In a TED talk, Musk noted that there needed to be a venue for free speech, and that Twitter's biggest issue today came from its policies that in many ways amounted to censorship, as well as too much spam and bots on the platform. | | | | • | Biden Nominates Michael Barr for Bank Regulation Job
The Biden administration has nominated Michael Barr to serve as the Fed's banking regulator. Barr has previously served as an assistant Treasury secretary during the Obama administration. The nominee is the second for the role as Sarah Bloom Raskin withdrew her candidacy in March. | | |
| | | | TOP | | | NKE | 4.683% | | | | HII | 4.569% | | | | CAT | 4.371% | | | | USB | 4.149% | | | | DISH | 3.299% | | | | BOTTOM | | | STT | 8.546% | | | | GWW | 6.769% | | | | MELI | 6.64% | | | | GNRC | 6.304% | | | | EPAM | 5.844% | | | | |
| | |  | | What's happening with yields directly impacts stocks at this stage of the game, because it's just one more of so many other negative data points, or bearish data points, that investors have to deal with. | | - Adam Sarhan, founder and CEO at 50 Park Investments, on why investors should be mindful of a number of events going on right now, besides the drama unfolding with rising bond yields and the recently-inverted yield curve. | |
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