🙃The Big Players Enter a Tug of War

Good morning. For the past decade, some of the largest buyers of stocks have been companies...

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. For the past decade, some of the largest buyers of stocks have been companies themselves. Share buybacks have been popular, as they tend to help keep share prices high, and can offset dilution from stock options to executives. Share buybacks have increased in recent weeks, a sign that many companies view their shares are undervalued. That's good news. But big institutions are still sellers, with yesterday's trading resulting in the 4th largest sell program in history (so far). This tug of war indicates that we're not at a bottom yet for stocks, but we are starting to see enough values that it's not a one-sided way down from here. Expect continued volatility, and with it the chance for short-term trades to play off quickly thanks to continued large daily swings in the market. Now here's the rest of the news: Sponsored Content Former Goldman Sachs PhD: "Never returning to normal" PhD Economist: "Don't Bet on It" According to former Goldman Sachs executive, Nomi Prins… Americans who are hoping for a 'return to normal' are going to be shocked when they see what happens next in America. She says, "If you're betting your job, savings, or retirement accounts on a return to 'normal' you're about to be left behind by a brand-new crisis few see coming." Click here now to see America's next crisis. MARKETS DOW 29,927.07 -2.42% S&P 3,666.78 -3.25% NASDAQ 10,646.10 -4.08% *As of market close • Stocks sank on Thursday, on rising recession fears. • Oil rallied 1.6 percent, closing at $117.19 per barrel. • Gold rose 2 percent, ending the day at $1,855 per ounce. • Cryptocurrencies continued lower, with Bitcoin at $20,875 at the market close. Today's TOP TIPS This Tech Trend Won't Be on Hold Forever A number of technologies are being developed, even with the economy teetering on the edge of a recession. Some that are under way already will likely develop a lead over competitors, who may have a tough time getting under way thanks to rising interest rates and a pullback in tech trends. One of the biggest tech trends last year was the metaverse. A number of companies talked about developing the concept. » FULL STORY Insider Trading Report: Fiserv (FSV) ValueAct Capital Master Fund, a major holder of Fiserv (FSV), recently added 1,000,000 shares. The buy increased the fund's holdings by 7.3 percent, and came to a total cost of just under $92 million. Over the past three years, insiders have generally been sellers of shares. That includes both directors and c-suite executives. Funds have tended to be large buyers of shares at the company. » FULL STORY Unusual Options Activity: Riot Blockchain (RIOT) Shares of Bitcoin mining company Riot Blockchain (RIOT) has slid 90 percent from its highs. One trader sees the possibility for a further decline in the months ahead. That's based on the December $3.00 puts. With 182 days until expiration, 10,208 contracts traded compared to a prior open interest of 308, for a 33-fold increase in volume on the trade. The buyer of the puts paid $0.35 to get into the trade. » FULL STORY IN OTHER NEWS • Central Banks Raise Rates A number of central banks around the world are raising interest rates to curb inflation, even amid signs that their economies are slowing down. The Swiss National Bank raised its interest rates 0.5 percent, to -0.25 percent from -0.75 percent, a surprise move. And the Bank of England also raised its interest rates a quarter point as well. • Housing Starts Decline Housing starts, a way of looking at the supply of new homes, dropped 14.4 percent in May compared to April, according to Commerce Department data. Residential building permits overall fell by 7 percent in May, a larger number than expected. Rapidly rising interest rates are fueling a pullback in the home lending space right now. • Revlon Files for Chapter 11 Bankruptcy Cosmetics company Revlon (REV) is filing for bankruptcy. The company has had to contend with lower demand for cosmetics during the pandemic, and more recently supply chain issues, combined with its high debt load. The company is the first major company to file for bankruptcy protection in the retail space in years. • Redfin and Compass Announce Layoffs The number of companies reporting layoffs has been on the rise recently. The real estate space is starting to see some pressure as well. Redfin reports that its is cutting its employee base by about 8 percent, and Compass is reporting a 10 percent reduction. • HomeLight Raises $60 Million and Makes Acquisition Property tech startup HomeLight has raised $60 million in an extension of its Series D raise from last September. The company has now raised $645 million and is valued at $1.7 billion. The capital is being used to acquire Accept.inc, a tech-enabled lending startup. S&P 500 MOVERS TOP NEM 3.574% CME 1.951% WMT 1.24% CHD 1.018% BA 0.927% BOTTOM NCLH 11.211% PENN 11.178% CCL 10.62% RCL 10.595% ENPH 9.903% Quote of the Day At this point the market has done much of the Fed's work for them in terms of stocks and bonds selling off over the past week – not to mention the entire year – so it's not that surprising that both markets moved higher today (stock and bond prices higher; bond yields lower), given that they had sold off so much coming into [the] meeting. - Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, on why the market has rallied since the Fed raised interest rates by 0.75 percent. Sponsored Content Former Goldman Sachs PhD: "Never returning to normal" PhD Economist: "Don't Bet on It" According to former Goldman Sachs executive, Nomi Prins… Americans who are hoping for a 'return to normal' are going to be shocked when they see what happens next in America. She says, "If you're betting your job, savings, or retirement accounts on a return to 'normal' you're about to be left behind by a brand-new crisis few see coming." Click here now to see America's next crisis. 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! We are dedicated to teaching people how to make the world a better place so we can all thrive, together. We love sharing stories and featuring past learners who have applied our teachings and changed their situations. It's our passion to build a strong community centered around fun and mindset! 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