| | | | DOW 33,301.93 | +0.19% | | | | S&P 4,183.96 | +0.21% | | | | NASDAQ 12,488.93 | -0.01% | | | | *As of market close | | • | Stocks traded mixed on Wednesday, with the Nasdaq closing slightly in the red. | | • | Oil rose 0.5 percent, closing at $102.23 per barrel. | | • | Gold slid 1 percent, ending at $1,886 per ounce. | | • | Cryptocurrencies generally rose, with Bitcoin at $39,167 at the stock market close. | | | | | | | | | | Pricing Power Continues to Point to Profitable Companies In Today's Tough Environment | | | | Every industry has a key metric that analysts are looking for. That could relate to gross profit margins, sales volume, or the spread between the cost of borrowing and the cost of lending. For the restaurant industry, sales are a key component. Higher-end chains may look at how many times a table turns over in the course of an evening, but for most players, that still translates to plain sales. » FULL STORY | | | | | | Insider Trading Report: Charles Schwab Corp (SCHW) | | | | Walter Bettinger, CEO at Charles Schwab Corp (SCHW), recently picked up 36,640 shares. The buy increased his holdings by just over 12 percent, and came to a total price of just over $2.5 million. This marks the first insider buy at the company going back to February, 2021. Company insiders, from C-suite executives and the company chairman, as well as a few directors, have been sellers of shares over the past two years as the stock has more than doubled. » FULL STORY | | | | | | Unusual Options Activity: Cantaloupe (CTLP) | | | | Shares of unattended retail market payment and software provider Cantaloupe (CTLP) have shed nearly half their value in the past year. One trader is betting on a strong rebound in the coming months. That's based on the September $7.50 calls. With 141 days until expiration, 21,673 contracts traded compared to a prior open interest of 464, for a 47-fold rise in volume on the trade. The buyer of the calls paid $0.32 to get into the position.
» FULL STORY | | | | | | • | Russia Stops Natural Gas Flow to Poland
Russia has stopped the supply of natural gas to Poland and Bulgaria, as the countries have refused to comply with Russia's new terms. Russia has asked that payments be made in rubles, but has also at times stated that payment in gold or Bitcoin would also be acceptable. The move came as Russia was largely kicked out of the international payments system. | | | | • | Pending Home Sales Drop 1.2 Percent
Pending home sales dropped 1.2 percent in March compared to February levels. It's a sign that the red-hot housing market is finally slowing down. The drop also coincides with the start of interest rates rising materially higher, although the market has yet to price in the recent 30-year fixed rate hitting 5 percent. | | | | • | Archegos Capital Management Owner Bill Hwang Charged with Fraud
Bill Hwang, the owner of Archegos Capital Management, was arrested yesterday. Hwang's fund imploded last year, as overly leveraged bets on a number of stocks, particularly media stocks, ended up blowing up. Hwang is being charged with securities fraud and wire fraud, as well as a racketeering conspiracy. | | | | • | Robinhood Announces Layoffs
Brokerage app Robinhood (HOOD) has announced that they will lay off 9 percent of its workforce. The move comes as the stock has hit a record low. The company notes that they have a strong balance sheet, but that they've grown from 700 employees to 3,800 since the start of 2020. | | | | • | Sense Raises $105 Million in Series C Funding
Sense, a company that helps individuals monitor their home energy use, has raised $105 million in a Series C capital raise. The company has now raised over $157 million. The company states that the capital raised will be used to expand its international reach to Europe and Asia. | | | | | | TOP | | ENPH | 7.723% | | | V | 6.469% | | | CME | 5.936% | | | MA | 5.074% | | | FISV | 5.026% | | | BOTTOM | | FFIV | 12.841% | | | RHI | 8.458% | | | BA | 7.531% | | | COF | 5.959% | | | EW | 5.565% | | | | | | | | | It's a high volatility, low volume market that's concerned about two things. One is, you know, Federal Reserve policy, and the other is the China lock downs and how long they last. | | - Art Hogan, chief market strategist at National Securities, on the biggest factors impacting the market right now, and why continued volatility is likely in the coming weeks. | | |
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