🐌The Currency Market Hints at the Winners in Today’s Sluggish Economy🐌

Good morning. The currency market is usually exciting only when traders leveraging minute moves...

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.

Good morning. The currency market is usually exciting only when traders leveraging minute moves in currency pairs end up suffering a massive blowup. But we're seeing a number of currency trends emerge that could clue in investors for the best returns going forward. First, the US dollar has been on a strengthening trend for some time. That's bad news for the US economy, as it means a higher price for its goods overseas relative to the local currency. And the Russian ruble is continuing its rally, now hitting a 7-year high. Demand is soaring as European buyers of Russian natural gas have to make payments in rubles. For investors, that suggests the US may slow compared to Europe. And that Russia, despite what the latest war headlines say, will continue to play strongly on the global stage despite the relative size of its economy. Now here's the rest of the news: Sponsored Content Pizza automation is here. Invest while you can. Pizza purists: you've got bigger concerns than pineapple. Most pizzerias struggle with low margins, and automation has the potential to more than double those. That kicks the door open for robots to take over the $54 billion U.S. pizza market. Piestro's 40-square-foot pizzerias can cook up an artisanal pie in less than 3 minutes. They make a faster pizza without sacrificing quality. And these pods can squeeze into high-traffic commercial spaces–think shopping malls, stadiums, office buildings, and beyond. That's a win-win for everyone in the pizza world and probably why Piestro has locked in $580 million in pre-orders. This is only the beginning. Get your slice of Piestro before things really get rolling. MARKETS DOW 31,261.90 +0.03% S&P 3,901.38 +0.02% NASDAQ 11,354.62 -0.30% *As of market close • Stocks traded mixed going into the weekend, thanks to a late-day rally in shares. • Oil rose 0.4 percent, closing at $112.70 per barrel. • Gold traded flat, ending at $1,842 per ounce. • Cryptocurrencies slightly dropped, with Bitcoin at $29,241 at the stock market close. Today's TOP TIPS Stay Defensive with Recession-Resistant Trades Now While investors have largely soured on growth stocks, a few sectors are holding up well. Most of them are commodity-based companies, as that space has delivered strong returns this year. Some companies are also holding up well because business tends to be steady, no matter what's happening in the economy. One of the better possible trades in the coming months could come from companies offering both. » FULL STORY Insider Trading Report: Paramount Global (PARA) National Amusements Inc, a major holder at Paramount Global (PARA), recently added 646,764 shares. The buy increased the company's stake by just over 2 percent. The company paid just under $21 million to make the buy. This is the first insider activity at the company since the summer of 2020. Over the past three years, company insiders have largely been buyers when there has been insider activity. » FULL STORY Unusual Options Activity: Transocean (RIG) Shares of offshore drilling equipment company Transocean (RIG) are up about 7 percent in the past year. One trader sees the potential for shares to fall in the months ahead. That's based on the May 2023 $3.00 puts. With 361 days until expiration, 10,032 contracts traded compared to a prior open interest of 352, for a 29-fold rise in volume on the trade. The buyer of the puts paid $0.60 to get into the trade. » FULL STORY IN OTHER NEWS • Emergency Funds Dwindle Amid High Inflation One third of US adults are contributing to emergency funds. The culprit? High inflation. With prices rising 8.3 percent year-over-year, more money is needed to buy the same amount of goods as a year before, leaving less for an emergency. A rising number of consumers are also reporting that they're delaying other financial goals as inflation rises. • Euro Nears Par with US Dollar The US dollar has been on a strengthening trend since 2021. That equates to falling prices for other currencies. Now, the Euro trades for about $1.035, a significant drop from $1.37 at the start of the year. As the Euro gets relatively cheaper, it may make post-pandemic travel to the EU from the US more affordable, as well as other goods and services. • China Slashes Interest Rates At a time when most countries are raising interest rates, China, the world's second-largest economy, is lowering theirs. The People's Bank of China cut its five-year loan rate by 15 basis points to 4.45 percent. That's the largest move on record and the second rate cut this year. The move may be to help support the country's slowing real estate market. • Costa Rica Hit with Ransomware Attack The country of Costa Rica has been hit with a ransomware attack, something usually reserved for large corporations. The Conti ransomware gang has declared war on the country, and has asked for a ransom of $20 million and for the government there to be overthrown. • Sotheby's Reports Record Sales for Contemporary Art Auction house Sotheby's has completed its recent contemporary art auction, hitting record sales numbers. The 27 lots in the recent auction hit a record $210.5 million, far exceeding expectations. Before fees, the total came to $283.4 million. S&P 500 MOVERS TOP VFC  6.075% AMT  4.729% LLY 4.478% MKTX 4.244% UAA 3.772% BOTTOM ROST 22.47% DE 14.072% AAP 7.232% DG 6.8% TSLA 6.417% Quote of the Day While many cross-currents are causing the current sell-off, the proximate cause of the recent acceleration in the stock declines revolves around fears about the U.S. consumer. For the first time in the post-Covid period, retailers have been stuck with some excess inventories. Costs due to inflation are also taking their toll on their earnings. Lastly, there is evidence that the lower-end consumer is feeling the pinch from the increase in prices. - Bill Stone, CIO of Glenview Trust CIO, on why a combination of rising inventories, high inflation, and slowing consumer spending is contributing to the latest stock market selloff. Sponsored Content Pizza automation is here. Invest while you can. Pizza purists: you've got bigger concerns than pineapple. Most pizzerias struggle with low margins, and automation has the potential to more than double those. That kicks the door open for robots to take over the $54 billion U.S. pizza market. Piestro's 40-square-foot pizzerias can cook up an artisanal pie in less than 3 minutes. They make a faster pizza without sacrificing quality. And these pods can squeeze into high-traffic commercial spaces–think shopping malls, stadiums, office buildings, and beyond. That's a win-win for everyone in the pizza world and probably why Piestro has locked in $580 million in pre-orders. This is only the beginning. Get your slice of Piestro before things really get rolling. Not sure the best way to get started? 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