| | | | DOW 33,240.18 | -2.38% | | | | S&P 4,175.20 | -2.81% | | | | NASDAQ 12,490.74 | -3.95% | | | | *As of market close | | • | Stocks sank on Tuesday, with the Nasdaq losing nearly 4 percent. | | • | Oil rallied 3.7 percent, closing at $102.18 per barrel. | | • | Gold rose 0.3 percent, ending at $1,901 per ounce. | | • | Cryptocurrencies sank, with Bitcoin at $38,346 at the stock market close. | | | | | | | | | | Stick With Recession-Resistant Companies that Are Performing Well Now | | | | Most stocks follow the overall market. When stocks are rising, even poorly-managed companies can go along for a rally. And when stocks are falling, even great companies can get sold off as well.
Right now, only a handful of companies are performing well in today's markets. Some of those are commodity plays, others are companies capable of growing no matter what the overall economy does. » FULL STORY | | | | | | Insider Trading Report: Xerox Holdings Corp (XRX) | | | | Carl Icahn, a major owner of Xerox Holdings Corp (XRX), recently added 2,130,423 shares to his holdings. The buy increased his stake by 6.6 percent, and came to a total price of just over $36.3 million.
This marks the first insider transaction of the year. Over the past two years, company insiders have generally been sizeable buyers of shares on a regular basis, with only one insider sale in that timeframe. » FULL STORY | | | | | | Unusual Options Activity: Fortress Transportation and Infrastructure Investors LLC (FTAI) | | | | Shares of rental and leasing service company Fortress Transportation and Infrastructure Investors LLC (FTAI) have been sliding over the past year. However, one trader sees the potential for a move higher in the coming months.
That's based on the June $28 calls. With 51 days until expiration, 3,592 contracts traded compared to a prior open interest of 123, for a 29-fold rise in volume on the trade. The buyer of the calls paid $0.70 to get into the trade.
» FULL STORY | | | | | | • | Home Prices Rise Nearly 20 Percent Year-Over-Year
The latest Case-Shiller Home Price Index shows that US home prices rose an average of 19.8 percent on a year-over-year basis for February. That's the highest level recorded, just edging out the 19.2 percent growth posted in January. Sunbelt cities continued to lead the growth, with areas like Phoenix, Tampa, and Miami showing the highest price increases. | | | | • | Fidelity to Offer Bitcoin in 401(k) Plans
Fidelity Investments is starting a program to allow 401(k) plans that it administers to add Bitcoin through a dedicated "digital assets account." This is the first major firm to offer an investment in Bitcoin via a 401(k) plan. The plan is likely to see strong demand, but may also face some regulatory hurdles before it's launched. | | | | • | Microsoft Posts Strong Growth in Cybersecurity
Microsoft (MSFT) reports that the company's cybersecurity division is the fastest growing part of the company. Revenues hit $15 billion for this segment, a 50 percent increase from the $10 billion a year earlier. The company is on track to continue to expand this area, including the possibility of growth through acquisitions. | | | | • | Roku Partners With Lionsgate for Free Movies
Streaming platform Roku (ROKU) is partnering with Lionsgate Films (LGF) in a multi-year deal to stream films. Roku's free streaming hub will start showing Lionsgate's films following their initial release window on Stars, and will start with the firm's 2022 theatrical releases. | | | | • | Consumer Goods Companies Look for Clean-Energy Tax Credits
Over 40 businesses have petitioned Congress to increase their use of tax credits for providing and implementing clean energy projects. The use of such tax credits would be to effectively lower costs and improve the economics of investing in technologies like wind and solar power, while reducing dependency on foreign fossil fuels. | | | | | | TOP | | SHW | 9.83% | | | WM | 5.501% | | | WHR | 4.685% | | | VLO | 4.56% | | | ROP | 3.657% | | | BOTTOM | | TSLA | 12.008% | | | GE | 9.98% | | | UHS | 9.232% | | | CRL | 8.333% | | | ZION | 8.291% | | | | | | | | | When the bond market is screaming for Fed to be a bit tighter, it's tough for stocks to hold up and I think that's what we're kind of going through now, but, I don't think that means that we should be selling equities here either. | | - Tom Lee, head of research at Fundstrat Global Advisors, on why investors may still want to stick with stocks right now, even as markets are still near their lows of the year. | | |
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