Good morning. Bonds, cryptocurrencies, and stocks have fallen precipitously so far this year. Now...
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 31,928.62 | +0.15% | | | | S&P 3,941.48 | -0.81% | | | | NASDAQ 11,264.45 | -2.35% | | | | *As of market close | | • | Stocks traded mixed on Tuesday, as tech stocks once again took a dive. | | • | Oil dipped 0.2 percent, closing at $110.02 per barrel. | | • | Gold rose 1 percent, ending at $1,866 per ounce. | | • | Cryptocurrencies were mostly lower, with Bitcoin at $29,397 at the stock market close. | | | | | | | | | | Bear Markets Create Great Opportunities to Buy Growth on Sale | | | | Growth stocks were priced for perfection at the end of last year. Now, with stocks in bear market territory, a lot of the froth has come out of many high-growth names. Some of the expected growth has stalled out along with the economy. But for traders looking for long-term opportunities to outperform the market, buying top growth names on sale now could deliver great returns 1-2 years out. That's especially true for companies announcing new growth initiatives now. » FULL STORY | | | | | | Insider Trading Report: KBR Inc (KBR) | | | | Mark Sopp, an EVP and CFO at KBR Inc (KBR), recently picked up 2,150 shares. The buy increased his holdings by just under 2 percent, and came to a total purchase price of just under $101,000. This marks the second buy from this CFO in the past six months. Over the past three years, company insiders have been more likely to be sellers than buyers. » FULL STORY | | | | | | Unusual Options Activity: Starbucks (SBUX) | | | | Shares of coffeehouse chain Starbucks (SBUX) have lost more than one-third of their value in the past year. One trader sees the potential for a rally in shares in the second half of the year.
That's based on the December $85 calls. With 205 days until expiration, 46,245 contracts traded compared to a prior open interest of 485, for a 95-fold surge in volume on the trade. The buyer of the calls paid $3.06 to get into the trade.
» FULL STORY | | | | | | • | Treasury Yields Slide
US Treasury yields have been sliding in recent sessions, with the 10-year falling to 2.73, a one-month low. As yields drop, prices rise. That indicates that investors continue to demand bonds at current yields. However, falling yields are also a sign that the recent market pressures may be peaking, as traders try and determine how high interest rates will move. | | | | • | UK Energy Bills Continue to Soar
Energy prices are likely to rise by another 40 percent in the UK this year. The move comes after regulators already allowed for price rises of 54 percent, amid low supplies for natural gas. Rising energy prices are contributing to rapidly-increasing inflation over in the UK, and reduced output from Russia to Europe will likely keep prices high for some time. | | | | • | Corporate Insider Buying Slightly Ticks Up
Typically, corporate insiders are regular sellers of shares of the companies they work at. However, some small-cap stocks have seen company insiders start to buy in recent weeks as markets have officially flipped into bearish territory. Overall, and looking at larger-companies, there's been no meaningful uptick in insider buying there yet. | | | | • | Broadcom Looks to Buy VMware for $60 Billion
Talks are underway for Broadcom (AVGO) to buy VMware (VMW) for about $60 billion. The deal would largely be in a cash-and-stock deal, with a tentative price of around $140 per share. If the deal comes to fruition, it would be one of the largest deals so far this year. | | | | • | Starlink Adds RV Plan
Privately-held internet provider Starlink is adding an option for RVs. The plan will allow for roving coverage, however, it is intended to be used when stationary during a trip, not while on the road. The plan adds functionality to those on the road, but the service is considered second-tier relative to standard home users. | | | | | | TOP | | AZO | 5.393% | | | ORLY | 4.993% | | | SBAC | 3.915% | | | AMT | 3.562% | | | LNT | 3.551% | | | BOTTOM | | NCLH | 12.086% | | | DXCM | 11.413% | | | CZR | 11.026% | | | CCL | 11.022% | | | RCL | 10.563% | | | | | | | | | This kind of environment where you've got the whipsaw and ups and downs that are so big is a trading environment where it can feel on any given day like you were wrong yesterday and that is ripe for mistakes. | | - Liz Young, Head of Investment Strategy at Sofi, on why traders should be cautious in today's markets as they'll likely be volatile for some weeks to come. | | |
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