😑Is Biden Right About the Economy?😑

Good morning. Most Americans are feeling pain at the grocery store and even worse at the gas pump...

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. Most Americans are feeling pain at the grocery store and even worse at the gas pump. Yet on Friday, President Biden came out to tout the better-than-expected jobs numbers and to downplay the role inflation is playing in the economy. Biden has stated that "families are carrying less debt" and that "more Americans feel financially comfortable." While the President may not like touting the stock market as much as his predecessor, the pullback in asset valuations, the slowdown in home prices, and the continued high inflation point to a tumultuous midterm season. If Biden is right about the economy, that's a lot of hard data to ignore. Investors and traders alike should remain cautious, and look for more big swings in the market as these two narratives play out. Now here's the rest of the news: Sponsored Content Invest In The Robots Revolutionizing America's Favorite Food 94% of Americans eat pizza regularly. But as tech steps in to make it even more convenient and delicious, the pizza automation market could be swimming with investors in no time. Today's your chance to beat the crowd. Piestro could be the freshest, fastest solution to satisfy a $54 billion U.S. pizza appetite. The company's 40-square-foot robotic pizzeria can cook and serve an artisanal pie in under 3 minutes. They can squeeze into high-traffic areas like malls, stadiums, and office buildings. They can achieve more than 2x the profit margin of a traditional pizzeria. And their pies are good. Real good. That's why Piestro already has $580 million in pre-orders, and why you probably shouldn't sit this one out. Get shares in Piestro while the funding round is open. MARKETS DOW 32,898.45 -1.05% S&P 4,108.46 -1.64% NASDAQ 12,012.73 -2.47% *As of market close • Stocks dropped on Friday, following better-than-expected numbers on employment. • Oil rose 3 percent, closing at $120.42 per barrel. • Gold dropped 1 percent, ending the day at $1,854 per ounce. • Cryptocurrencies trended lower, with Bitcoin at $29,566 at the market close. Today's TOP TIPS Separate the Growth Plays from the Hype Plays for Big Profits Ahead Growth investing isn't dead. But companies that were posting strong growth in the past year are either going to falter now that the economy has slowed – or they'll continue to show that they're strong growth plays in the years ahead. Investors can follow some big trends seeing capital flows and deals occurring now to get an idea of where the best opportunities are for growth stocks. One such trend still seeing investor interest right now is in AI. » FULL STORY Insider Trading Report: Wolfspeed (WOLF) Loan Le Duy, a director at Wolfspeed (WOLF), recently bought 1,000 shares. The buy increased his holdings by nearly 5 percent, and came to a total price of just over $75,000. This follows up on a number of other buys in the past month, including a 4,000 share buy from the President and CEO, and a buy from a director for just over $500,000. Insiders have been buyers for the past year, but have been more mixed over the last three years. » FULL STORY Unusual Options Activity: Park Hotels & Resorts (PK) Shares of hotel proprietor Park Hotels & Resorts (PK) have been trading in a range for the past year. One trader sees some potential downside in the weeks ahead. That's based on the July $17.50 put. With 39 days until expiration, 6,748 contracts traded compared to a prior open interest of 149, for a 49-fold rise in volume on the trade. The buyer of the puts paid $0.73 to make the downside bet. » FULL STORY IN OTHER NEWS • Job Growth Continues to Soar The US economy added 390,000 jobs in May. That left the unemployment rate at 3.7 percent, and in excess of estimates for the addition of 328,000 jobs. In total, unemployment rates remain just above their pre-pandemic levels, and the better-than-expected job growth is unlikely to change the pace of interest rate increases in the coming months. • Mortgage Rates Drop Again Mortgage rates have dropped for a third consecutive week. However, the 30-year fixed rate is still at 5.09 percent, only modestly lower than the prior week's 5.10 percent. And comparted to one year ago, rates are significantly higher than the 2.99 percent average. • Autonomous Car Crash Data Coming Soon The National Highway Traffic Safety Administration is preparing a report on the data it's collected so far on vehicles with advanced driver assistance or automated driving modes. The report will look over accident data, and provide the first detailed look into how these new technologies are playing out as they're increasingly used. • Tesla Announces Hiring Freeze In a leaked email, Tesla Motors (TSLA) is being directed by company CEO Elon Musk to pause all hiring, and even prepare for job cuts. The cuts would be for salaried workers, but would not apply to those building cars, where total headcount may increase in the coming months. • New York State Passes Crypto Mining Bill The state of New York has passed a bill to ban crypto mining operations, specifically those that run on carbon-based power sources. The measure is headed to the governor. If passed, the law would be the first state-level ban on the development of blockchain technology and crypto infrastructure. S&P 500 MOVERS TOP NOV  3.92% PWR  3.38% ALK 3.229% COP 2.828% EOG 2.589% BOTTOM TSLA 9.202% AAL 7.388% MU 7.298% ETSY 7.091% ILMN 6.184% Quote of the Day I find there's a lot of people saying the economy is weakening very broadly, but really I think when people are saying that, they're just thinking about the housing data. There's no way I can argue the housing data is not bad. - Tom Simons, economist at Jefferies, on why the housing market will likely lead to a lot of concerns over the economy in the months ahead. Sponsored Content Invest In The Robots Revolutionizing America's Favorite Food 94% of Americans eat pizza regularly. But as tech steps in to make it even more convenient and delicious, the pizza automation market could be swimming with investors in no time. Today's your chance to beat the crowd. Piestro could be the freshest, fastest solution to satisfy a $54 billion U.S. pizza appetite. The company's 40-square-foot robotic pizzeria can cook and serve an artisanal pie in under 3 minutes. They can squeeze into high-traffic areas like malls, stadiums, and office buildings. They can achieve more than 2x the profit margin of a traditional pizzeria. And their pies are good. Real good. That's why Piestro already has $580 million in pre-orders, and why you probably shouldn't sit this one out. Get shares in Piestro while the funding round is open. Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income We just wanted to take a moment and say thank you so much for being part of our family! 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