Good morning. Demand for American Eagles, a one-ounce gold coin produced by the US Mint, has...
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 33,248.28 | +1.33% | | | | S&P 4,176.82 | +1.84% | | | | NASDAQ 12,316.90 | +2.69% | | | | *As of market close | | • | Stocks rallied on Thursday, closing near highs of the day. | | • | Oil rose 1.7 percent, closing at $117.26 per barrel. | | • | Gold rose 1.3 percent, ending the day at $1,874 per ounce. | | • | Cryptocurrencies traded mixed, with Bitcoin at $30,312 at the market close. | | | | | | | | | | Insider Trading Report: VF Corp (VFC) | | | | Rodney McMullin, a director at VF Corp (VFC) recently bought 3,000 shares. The buy increased his stake by nearly 12 percent, and came to a total cost of just under $150,000. That's the fourth such buy from the director this year. The other three buys were also for 3,000 shares each. Going further back, there's a mix of both insider buying and selling, by both directors and C-suite executives. » FULL STORY | | | | | | Unusual Options Activity: eBay (EBAY) | | | | Shares of online auction site eBay (EBAY) have lost nearly one-quarter of their value in the past year and are nearly 50 percent off their highs. One trader is betting that the decline will continue in the coming weeks. That's based on the August $47.50 puts. With 77 days until expiration, 8,187 contracts traded compared to a prior open interest of 153, for a 54-fold rise in volume. The buyer of the puts paid $3.75 for the option.
» FULL STORY | | | | | | • | OPEC Agrees to Oil Production Increase
Oil cartel OPEC has agreed to increase its production by 648,000 barrels per day starting in July and August. That's 200,000 more barrels per day than what was previously scheduled. The move comes as Russian oil has faced significant sanctions and has been dropping out of Western markets. | | | | • | Fed Vice Chair Warns That It's Too Early to Pause on Rate Hikes
Lael Brainard, Vice Chair of the Federal Reserve, doesn't see the central bank slowing down on its interest rate hikes anytime soon. She notes that inflation is still far from the central bank's 2 percent target, and that signs of inflation peaking are still early. | | | | • | Earnings Expectations Remain High
Wall Street analysts continue to raise their earnings expectations for companies on average. That's true even as inflation has been rising and the economy turned negative in the first quarter of the year. Typically, analysts tend to downgrade stocks after they move lower, as the market is pricing in lower growth and lower earnings. | | | | • | Amazon Launches Invite-Only Ordering Option
Online retailer Amazon (AMZN) is creating an invite-based ordering experience for users. The option is designed to manage sales of high-demand items that aren't in inventory often. The first products being sold under the plan are the PlayStation 5 and Xbox Series X video game consoles. | | | | • | Sheryl Sandberg Steps Down as Meta COO
After 14 years as COO at Facebook and now parent company Meta Platforms (FB), Sheryl Sandberg is stepping down. She will continue to serve as a member of the board. Her time working at the company has seen tremendous growth as well as controversy. | | | | | | TOP | | GNRC | 10.289% | | | SEDG | 10.28% | | | DXCM | 9.857% | | | MELI | 9.774% | | | ENPH | 9.009% | | | BOTTOM | | HRL | 5.22% | | | HPE | 5.197% | | | REGN | 4.283% | | | PARA | 2.844% | | | LLY | 2.781% | | | | | | | | | Our view is cautious as we close out the second quarter. Global central bank uncertainty and the pace of tighter monetary policy, still-tight global energy and agriculture markets — which may lead to higher prices still — and headwinds for corporate earnings growth are risks for investors moving forward. | | - Rob Haworth, senior investment strategist at U.S. Bank Wealth Management, on why investors should remain cautious this month, as the data is showing significant risks remain in the economy. | | |
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