Good morning. Elon Musk once tweeted, "The most entertaining outcome is the most likely outcome...
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 34,451.23 | -0.33% | | | | | S&P 4,392.59 | -1.21% | | | | | NASDAQ 13,351.08 | -2.14% | | | | | *As of market close | | | • | Stocks slid lower on Thursday, with the Nasdaq reversing Wednesday's 2 percent rally. | | | • | Oil rose 1.8 percent, closing at $106.17 per barrel. | | | • | Gold dipped 0.5 percent, going for $1,975 per ounce. | | | • | Cryptocurrencies generally dropped, with Bitcoin at $39,769 at the market close. | | | | | | | |
| | | For the Best Profits, Follow Consolidating Industries | | | | When an industry is new, many companies will flourish. Over time, the market will determine the best winners in the space. It could come from a better product, a better brand, a better business model, or simply lower costs.
Over time, that leads to consolidation as weaker players go out of business and smaller players are bought out. Investors who buy ahead of an offer can make money on the company being acquired. But owning the industry leader over time can be lucrative as well.
» FULL STORY | | | | |
| | Insider Trading Report: Darden Restaurants (DRI) | | | | Juliana Chugg, a director at Darden Restaurants (DRI), recently added 1,925 shares. The buy represents an initial stake at the company for the director, and came to a total cost of just over $248,000.
This represents the first insider buy at the company since a cluster of 12 buys back in April 2020. Over the past two years, company insiders, including both executives and directors, have been consistent sellers of shares instead.
» FULL STORY | | | | |
| | Unusual Options Activity: Bank of America (BAC) | | | | Shares of megabank Bank of America (BAC) have been trending down in recent months, and shares just went negative over the past year. One trader sees the possibility for a rebound in the next few weeks.
That's based on the May 27 $50 calls. With 42 days until expiration, 10,023 contracts traded compared to a prior open interest of 278, for a 36-fold rise in volume on the trade. The buyer of the calls paid $1.34 to get into the trade.
» FULL STORY | | | | |
| | • | Mortgage Rates Hit 5 Percent
30-year, fixed-rate mortgages have hit 5 percent this week. That's the highest level for the industry standard mortgage rate since 2011. That's a full 2 percentage points higher than in the same week a year ago, and is a rise of 0.28 percentage points over the prior week. | | | | • | Retail Sales Rose 0.5 Percent in March
Retail sales in the US rose by 0.5 percent in March. The biggest reason for the jump was the increase in gasoline prices. However, import prices also rose by 2.6 percent, the biggest one-month jump in such prices in 11 years. The rate does indicate a decrease from the 0.8 percent rise in February | | | | • | Musk Makes Cash Offer for Twitter
Elon Musk has filed an offering with the SEC to buy Twitter (TWTR). The billionaire is making an all-cash offer at $54.20 per share, a significant premium to where the stock currently trades, and a 54 percent premium to where Musk first started buying shares. Musk sees the platform succeeding best as a privately-held entity. | | | | • | Amazon Adds Fuel and Inflation Surcharge
Retailer Amazon (AMZN) is adding a 5 percent surcharge to cover the rising costs of fuel and as inflation continues to soar. It's the first time the retailer has made such a move, and will raise costs for both businesses and customers on its platform. The company notes that until now, it has absorbed these rising costs. | | | | • | Steinway Prepares IPO
Piano maker Steinway has filed to go public. The company has previously been public before being bought out, and the company is currently backed by hedge fund manager John Paulson. The news did not come with any specific details to the price of the IPO, the number of shares being issued, or any details on the company's expected valuation. | | |
| | | | 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% | | | | |
| | |  | | Given the extreme level of geopolitical crisis [and] sharpest Fed pivot, the market has been resilient. Returns are going to be lower but there is still an argument to be made for investing in equities – there is almost nowhere else to go. We will have to see how earnings go – how much companies talk about inflation, supply chain issues impacting margin, and rest of year outlook. | | - Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs, on why the stock market still looks like the most attractive asset class for investors today, and why earnings season could point to further profitable trades in the space. | |
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