Good morning. Traditional financial asset allocation models suggest a portfolio with a blend of...
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 34,049.46 | +0.70% | | | | S&P 4,296.12 | +0.57% | | | | NASDAQ 13,004.85 | +1.29% | | | | *As of market close | | • | Stocks closed higher on Monday, reversing a morning loss. | | • | Oil slid 3.1 percent, closing at $98.92 per barrel. | | • | Gold dropped 1.8 percent, ending at $1,899 per ounce. | | • | Cryptocurrencies rose with stocks, with Bitcoin at $40,188 at the stock market close. | | | | | | | | | | Stay Focused on Industry Leaders that Can Pass on Inflation | | | | A company can either pass on inflation to its customers, or it can't. If a company offers a product or services with inelastic demand, chances are that company won't feel the worst of the multi-decade-high inflation rates right now. Companies can pass on inflation through a variety of ways. One is shrinkflation, where it simply lowers its content size and keeps the price the same. Or a company may benefit from higher prices because they simply collect a percentage of assets moving through their network. » FULL STORY | | | | | | Insider Trading Report: Rocket Companies (RKT) | | | | Jay Farner, CEO at Rocket Companies (RKT) continues to buy. On Friday of last week, he picked up 43,600 more shares, increasing his stake by 2.2 percent. The buy came to a total of just under $400,000. That's on top of similarly-sized buys last Wednesday and Monday as well. The CEO has been a steady buyer since late March, and has increased his overall holdings from over 1.7 million shares to just over 2.01 million. » FULL STORY | | | | | | Unusual Options Activity: Adobe (ADBE) | | | | Publishing software company Adobe (ADBE) has been sliding well off its peak. One trader sees the potential for a strong rebound in the months ahead.
That's based on the July $575 calls. With 80 days until expiration, 1,405 contracts traded compared to a prior open interest of 110, for a 13-fold rise in volume on the trade. The buyer of the calls paid $0.90 to get in.
» FULL STORY | | | | | | • | China Stockpiles Amid Harsh Lockdowns
China continues its harsh lockdown of the port city of Shanghai, following an outbreak of Covid 19 there. The country is also stockpiling goods and tests, with an eye towards a possible outbreak of Covid in the key industrial district of Chaoyang. | | | | • | Meta Unveils Store Concept
Meta Platforms (FB) has unveiled a new brick-and-mortar store concept called the Meta Store. The single store (for now) will sell the company's physical products like virtual reality headsets, and showcase the hardware needed for navigating around the Metaverse. | | | | • | BlackStone Makes Offer for PS Business Parks
Private equity firm BlackStone (BX) is acquiring PS Business Parks (PSB) for a deal valued at $7.6 billion. The all-cash deal represents a 12 percent premium to where shares traded, and will allow BlackStone to add to its real estate portfolio in the commercial space. | | | | • | GM to Introduce Electric Corvettes
General Motors (GM) states that it will produce an electrified version of its popular Chevrolet Corvette model, followed by a fully-electric version as well. The company still expects to continue to manufacture traditional, gas-powered versions of the iconic car for the foreseeable future. | | | | • | Twitter May Close on Musk Offer
The board of social media company Twitter (TWTR) appears to be closing in on an agreement to be bought out by billionaire Elon Musk. That follows after the offer was initially rejected by the board last week, and ahead of detailed plans by Musk regarding financing of the deal to take the platform public. | | | | | | TOP | | MRNA | 7.175% | | | MTCH | 6.701% | | | FTNT | 6.31% | | | TWTR | 5.661% | | | PENN | 4.925% | | | BOTTOM | | CRL | 7.212% | | | SLB | 7.107% | | | HAL | 6.262% | | | MOS | 4.733% | | | BKR | 4.534% | | | | | | | | | Investors appear to be moving away from the TINA 'there is no alternative' narrative as of late when it comes to equities. This is the second straight week of significant outflows from equity mutual funds and days like [Friday] are unlikely to change the sentiment moving forward. | | - Brian Price, head of investment management for Commonwealth Financial Network, on the market's negative sentiment of the past few weeks, and why outflows from the stock market are likely to continue. | | |
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