 | | |  | DOW 34,678.35 | -1.56% | | | | S&P 4,530.41 | -1.57% | | | | NASDAQ 14,220.52 | -1.54% | | | | | *As of market close | | | • | Stocks dropped on Thursday, closing at lows of the day. | | | • | Oil dipped, closing at $100.61 per barrel. | | | • | Gold traded flat, going for $1,941 per ounce. | | | • | Cryptocurrencies generally declined, with Bitcoin at $45,739 at the market close. | | | | | | | |
| | | One of the Top Rebound Plays for the Next Growth Stock Surge | | | | The uncertainty in markets right now has hit growth stocks, particularly in the tech space, hard. Many names are down as much as 50 percent off their highs, and at the market low a few weeks back, that included nearly half the stocks in the Nasdaq.
Markets are starting to come up, although they're still willing to sell off on uncertainty. However, one top growth name has managed to navigate supply chain and other global issues to remain strong.
» FULL STORY | | | | |
| | Insider Trading Report: Farmland Partners Inc (FPI) | | | | Paul Pittman, CEO of Farmland Partners Inc (FPI), recently picked up 2,000 more shares. The buy increased his holdings by 0.1 percent, and came to a total purchase price of just under $27,000.
This marks the first insider buy of the year. Pittman was an active buyer late last year with a number of transactions at a slightly lower price. The last insider sale at the company occurred in March of last year.
» FULL STORY | | | | |
| | Unusual Options Activity: Knight-Swift Transportation Holdings (KNX) | | | | Shares of trucking company Knight-Swift Transportation Holdings (KNX) have been in an uptrend for the past few months. One trader sees the rally losing steam in the coming weeks.
That's based on the May $45 puts. With 49 days until expiration, 7,549 contracts traded compared to a prior interest of 202, for a 37-fold rise in volume. The buyer of the puts paid $0.45 to make the trade.
» FULL STORY | | | | |
| | • | Biden Administration Considers Further Oil Reserve Drawdown
The Biden administration is considering releasing 1 million barrels of oil per day from the strategic oil reserve as a way to lower prices at the gas pump. The drawdown could last for as long as 180 days, and would constitute the largest release from that reserve. That total amount, however, only adds up to two days' worth of global demand, so any price drop on the news would likely be brief. | | | | • | Supply Chain Improves Year-Over-Year, But New Crises Point to Further Problems
Problems with the global supply chain, which started just over two years ago during the first of the Covid lockdowns, were expected to be largely history by now. However, new events, like Russia's invasion of Ukraine, has cut off a number of key commodities globally, and China's latest covid lockdowns are also impacting production. Nevertheless, the numbers are still improving on a year-over-year basis. | | | | • | Pot Stocks Rally Ahead of House Vote
Pot stocks have been a strong performer for the month of March, as the US House is set to vote on a bill to decriminalize pot use at the federal level. The average pot stock is up over 10 percent this month, although the space as a whole has still lost about half its value over the last 12 months. | | | | • | Consumer Spending Rose, But Slowed, Last Month
Consumer spending rose by 0.5 percent in February, a slowdown from the 2.1 percent increase in January. The rise occurred amid the backdrop of the omicron variant of covid, and the start of Russia's invasion of Ukraine. Part of the rise is likely due to higher commodities costs, and is therefore based on inflation. | | | | • | Gumi Cryptos Capital Raises $110 Million for Second Fund
Gumi Cryptos Capital has started an early-stage investment fund, which has raised $110 million. The fund is looking to back about 50 blockchain companies in their earliest stages, including those looking to invest in blockchain games, infrastructure, web3 applications, and other tools. The fund will make $500,000 to $5 million initial investments. | | |
| | | | TOP | | | NCLH | 3.346% | | | | CCL | 3.214% | | | | ENPH | 2.965% | | | | RCL | 2.921% | | | | MKC | 2.879% | | | | BOTTOM | | | BIDU | 7.954% | | | | AMD | 7.943% | | | | ETSY | 7.61% | | | | PVH | 7.407% | | | | HPQ | 6.372% | | | | |
| | |  | | We're going to be bouncing around between good news and bad news, unfortunately. That's going to create some volatility. | | - George Mateyo, Key Private Bank chief investment officer, on where the markets are at as negotiations between Russia and Ukraine continue, and as the impact of high commodity prices and shortages are starting to impact a number of sectors. | |
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