| | | | DOW 32,637.19 | +1.61% | | | | S&P 4,057.84 | +1.99% | | | | NASDAQ 11,7405.65 | +2.68% | | | | *As of market close | | • | Stocks rallied again on Thursday, up for the second day in a row. | | • | Oil rose 3.3 percent, closing at $113.99 per barrel. | | • | Gold rallied 0.2 percent, ending at $1,851 per ounce. | | • | Cryptocurrencies traded mixed, with Bitcoin at $29,357 at the stock market close. | | | | | | | | | | Consider Luxury Goods Amid Today's Market Turmoil | | | | During the Covid crisis, there was talk of a K-shaped recovery, with the wealthy seeing solid returns while those less fortunate would continue to suffer. That appears to be playing out today. While the wealthy are being hit harder by the stock market decline, they're less vulnerable to changes in housing and energy prices. That may be why luxury goods sales have been holding up so far this year, even as it appears most consumers are spending more to get less thanks to inflation. » FULL STORY | | | | | | Insider Trading Report: HomeStreet Inc (HMST) | | | | John Michel, CFO at HomeStreet Inc (HMST), recently added 3,000 shares. The buy increased his holdings by just over 5 percent, and came to a total cost of $119,400. He was joined by the company's CIO, who picked up 1,000 shares for just over $39,000 on the same day. And in the prior week, a company director acquired 27,000 shares. Insiders have largely been notable buyers of shares going back over the past three years, with only a handful of sales. » FULL STORY | | | | | | Unusual Options Activity: Avaya Holdings (AVYA) | | | | Shares of digital communications company Avaya Holdings (AVYA) have been sliding in recent months. One trader sees further downside ahead in the coming days.
That's based on the June 17th $3.00 put option. With 21 days until expiration, 20,384 contracts traded hands, compared to a prior open interest of 368, for a 57-fold rise in volume on the trade. The buyer of the puts paid $0.53 to bet on a further downside.
» FULL STORY | | | | | | • | GDP Dropped 1.5 Percent in the First Quarter of 2022
While initially reported as a 1.3 percent decline, official government data is now showing a 1.5 percent drop in GDP in the US for the first quarter of the year. This marks the worst quarter of economic performance since the second quarter of 2020. Economists generally expect a rebound for the second quarter, but the US could still officially move into a recession. | | | | • | Biden Administration Proposes Limiting Oil Exports
The Biden administration is looking into limiting oil exports. Such a move could potentially free up oil use for domestic consumption, which would also lower gasoline prices. However, that would also reduce exports at a time when the economy is weak. | | | | • | Wealthy Investors Increase Private Equity Holdings
Wealthy individual investors are increasing their holdings in private equity investments, according to asset-management firms. Private equity investments tend to come off as less volatile, although that's usually in part because investments are locked up for years and positions aren't repriced daily. | | | | • | Companies Continue to Keep Loss Leaders… For Now
While food prices are rising at their fastest rate since the 1980s, grocery stores are continuing to keep a lid on certain items, such as rotisserie chickens. Despite the price of chicken rising over 16 percent in the past year, grocers have kept the price of this good steady. Typically, this is a "loss leader" product designed to be sold with other goods and ensure customers keep coming back. | | | | • | Meta Consolidates Privacy Policy
Meta Platforms (FB) has redesigned its user agreement and privacy policies, with an eye towards simplification. The move is to ensure that global regulators are happy, as such agencies are cracking down on data and privacy violations at big tech and social media platforms. | | | | | | TOP | | DLTR | 21.873% | | | M | 19.287% | | | DXC | 15.976% | | | DG | 14.402% | | | BIDU | 14.231% | | | BOTTOM | | KHC | 5.788% | | | MDT | 5.197% | | | MOH | 4.258% | | | CNC | 3.528% | | | CF | 3.073% | | | | | | | | | All participants reaffirmed their strong commitment and determination to take the measures necessary to restore price stability…To this end, participants agreed that the Committee should expeditiously move the stance of monetary policy toward a neutral posture, through both increases in the target range for the federal funds rate and reductions in the size of the Federal Reserve's balance sheet. | | - Wednesday's Federal Reserve meeting summary, indicating that the central bank is staying to its recent course of raising interest rates and reducing its balance sheet in order to rein in inflation. | | |
No comments:
Post a Comment