Good morning. Typically, growth stocks lead the market. That's because these companies have the...
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 32,160.74 | -0.26% | | | | S&P 4,001.05 | +0.25% | | | | NASDAQ 11,737.67 | +0.98% | | | | *As of market close | | • | Stocks traded mixed on Tuesday, as the Nasdaq reversed about one quarter of Monday's drop. | | • | Oil dropped 3.4 percent, closing at $99.57 per barrel. | | • | Gold slid 1.6 percent, ending at $1,836 per ounce. | | • | Cryptocurrencies traded mixed, with Bitcoin at $31,292 at the stock market close. | | | | | | | | | | One Top Play Amid the Crypto Carnage | | | | Cryptocurrencies took a major dive on Monday, as the largely unregulated space allows traders to use more leverage than in other financial markets. And companies catering to the space likewise underperformed the stock market's large drop.
However, changes based on the price of cryptocurrencies may be misleading. That's because rising adoption and investment in the space is creating a value for a number of companies catering to the industry. » FULL STORY | | | | | | Insider Trading Report: Brown & Brown (BRO) | | | | Hugh Brown, a director at Brown & Brown (BRO), recently added 1,311 shares. The buy increased his stake by nearly 3 percent, and came to a total price of just under $79,000.
That buy came the same day that two other directors picked up shares as well, with one director picking up 10,000 shares at a cost of $589,000, and the other buying nearly 1,700 shares for just under $100,000. » FULL STORY | | | | | | Unusual Options Activity: Apple (AAPL) | | | | Shares of consumer tech giant Apple (AAPL) have succumbed to the recent market decline, although shares are faring somewhat well given the company's relatively strong cash flows and excellent branding. However, one trader sees further downside ahead.
That's based on the June 24th $125 puts. With 44 days until expiration, 13,129 contracts traded compared to an open interest of 122, for a 108-fold surge in volume on the trade. The buyer of the puts paid $1.46 to get into the trade.
» FULL STORY | | | | | | • | Household Debt Nears $16 Trillion
Total consumer debt in the Us rose 1.7 percent in the first quarter of 2022. It now stands at a record $15.84 trillion. The biggest reason for the rise is an increase in housing debt, and largely occurred before the recent spike higher in interest rates. Student loan debt rose 6.5 percent, a $14 billion increase. | | | | • | Bitcoin Hits 50 Percent Loss from All-Time High
Bitcoin's recent drop has left the largest cryptocurrency by market cap now down over 50 percent from its all-time highs. Smaller names in the space have dropped more on a percentage basis. While the space has always been volatile, in recent years it's tended to trade more in line with tech and other stocks. | | | | • | Miami Rents Soar as New Yorkers Move In
Rental rates for apartments are up 58 percent over the past two years in Miami, with some properties seeing even larger increases. The culprit is a large number of new residents from the Northeast, particularly New York. Other parts of the Florida market are likewise booming as housing supply has been insufficient to meet migratory demand. | | | | • | Andy Warhol Painting Sets Record
Andy Warhol's Shot Sage Blue Marilyn has sold for $195 million at Christie's. After the auction fees, the price is a more modest $170 million. This is now the record-high price for a work by an American artist, surpassing the previous record by nearly $60 million. | | | | • | Paper Raises $9.3 Million
Crypto payment startup company Paper has raised $9.3 million. The company is looking to onboard individuals into the NFT market via email, addressing the accessibility problems that the space has today. Cryptocurrency Polygon was among one of the backers for this capital raise. | | | | | | TOP | | FTNT | 6.924% | | | SYY | 6.746% | | | MCHP | 6.36% | | | IFF | 4.871% | | | ADBE | 4.762% | | | BOTTOM | | XRAY | 7.134% | | | MO | 6.723% | | | NWL | 6.266% | | | PLD | 5.296% | | | VTR | 5.204% | | | | | | | | | The sentiment has been very bearish for the last few months, if not the last few weeks for sure, and an inability to rally...tells you everything that you need to know about the current state of the market, meaning the bears are in control. | | - Adam Sarhan, founder and CEO of 50 Park Investments, on market sentiment and why a strong rally beyond a few oversold bounces higher may be unlikely until the economic narrative changes in the coming months. | | |
No comments:
Post a Comment