 | | |  | DOW 32,196.66 | +1.47% | | | | | S&P 4,023.89 | +2.39% | | | | | NASDAQ 11,805.00 | +3.82% | | | | | *As of market close | | | • | Stocks closed higher on Friday, significantly reducing last week's losses. | | | • | Oil rose 4 percent, closing at $110.34 per barrel. | | | • | Gold slid 0.9 percent, ending at $1,808 per ounce. | | | • | Cryptocurrencies rallied, with Bitcoin at $30,004 at the stock market close | | | | | | | |
| | | Long-Term Trends Bode Well for Tech Infrastructure Plays Now | | | | Even with a modest slowdown in the overall economy in the first quarter of the year, and even with a potential recession if the second quarter also shows a slowdown, the world continues to improve. New technologies and networks are rolled out. New ideas hit the drawing board.
And there's still ample demand for those products to make an investment in the right tech stocks now a worthwhile one.
» FULL STORY | | | | |
| | Insider Trading Report: Fastenal (FAST) | | | | Michael Ancius, a director at Fastenal (FAST), recently added 1,000 shares. The buy increased his stake by 3 percent, and came to a total purchase price of $51,000.
This is the fourth buy from the director this year, who in total has now acquired over 2,100 shares. Going back further, sellers at the company have exceeded buyers over the past three years.
» FULL STORY | | | | |
| | Unusual Options Activity: Nu Holdings (NU) | | | | Shares of Brazilian bank Nu Holdings (NU) have been in a steep downtrend since the company went public late last year. One trader is betting on a further decline in shares.
That's based on the June 17th $2 puts. With 32 days until expiration, 3,758 contracts traded compared to a prior interest of 112, for a 34-fold increase in volume on the trade. The buyer of the puts paid $0.18 to get into the trade.
» FULL STORY | | | | |
| | • | Consumers Sour on the Economy
Consumer sentiment has dropped 9.4 percent between April and May, according to the latest data from the University of Michigan. That's reversed a small gain seen in April as gas prices moderated. Continued high inflation and bare shelves in stores are keeping consumers from having an optimistic outlook on the economy going forward. | | | | • | Soybean Prices Set to Drop
Amid high food inflation, a bumper crop of soybeans, met with declining demand for the commodity, are likely to lead to a drop of as much as 27 percent this year. The grain is the key ingredient for tofu, and can be used for other food products and feedstock for livestock as well. | | | | • | Diesel Prices Hit Record High
Diesel fuel has hit a record high. That's a big problem in Europe, where diesel fuel is used more often, and as Russian sanctions kick in. It's also a problem in the US, as diesel fuel is used primarily for transportation of goods via trucks. The trend is likely to continue given a shortfall of fuel. | | | | • | Inflation Costing Households $341 Per Month
With consumer prices up 8.5 percent in the past year per official government sources, households are now spending an extra $341 per month on the same goods and services compared to a year ago. That price rise may moderate in the coming months, but the total nominal price is unlikely to increase. | | | | • | Musk Says Twitter Deal on Hold
Elon Musk has put his deal to buy Twitter (TWTR) on hold, citing the company's potential valuation in light of how many users may be spam bots. On Twitter, Musk noted that he still wants the deal to go through. If the deal doesn't go through, Musk faces a $1 billion kill fee for not going through with the acquisition of the social media company. | | |
| | | | TOP | | | LVS | 15.063% | | | | WYNN | 13.166% | | | | ENPH | 11.955% | | | | MPWR | 11.135% | | | | CZR | 10.355% | | | | BOTTOM | | | TWTR | 9.672% | | | | DVA | 2.911% | | | | WRK | 2.634% | | | | NLSN | 1.988% | | | | CHRW | 1.783% | | | | |
| | |  | | You're getting this market that really is begging for a bottom, for a relief rally. But, at the end of the day, there really hasn't been a capitulation day. | | - Andrew Smith, chief investment strategist at Delos Capital Advisors, on why the stock market may not have finished holding off yet, and why bullish investors should wait for a severe selloff with all the signs of capitulation. | |
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