 | | |  Good morning. In financial markets, good news is often bad news. And bad news is often good news. While it seems counterintuitive, the logic is simple. If the economy is in poor shape, it will be supported by lower interest rates (cheaper money), and potentially even increased fiscal stimulus (things like direct payments). That's good for asset prices in the short-term.
Right now, rising alarm bells over a recession, which we're likely already in, have turned this bad news into good news, with markets slightly up for the week. The news isn't bad enough to slow down the Federal Reserve yet. But the narrative is growing that the Fed will stop raising rates sooner than expected, and will likely cut rates sooner than expected as well. Until that actually happens, however, investors and traders alike need to be strategic, and be willing to play both sides of what will remain a volatile market.
Now here's the rest of the news: | | | | | | | | Invest In This Biotech Company Solving A $240B Problem | | | | | | Every year, over 600M patients suffering from osteoarthritis spend $240 billion on painkillers and other palliative solutions to the cartilage damage caused by this debilitating disease. These "band-aid" therapies are temporary and do not treat the root cause of osteoarthritis.
Enter Cytonics.
This private biotech startup has harnessed the therapeutic potential of a naturally occurring blood protein, called "A2M," to reverse cartilage deterioration in arthritic joints. Their first FDA approved A2M-based therapy has successfully treated over 8,000 patients, proving the therapeutic efficacy of A2M, and restoring patients' quality of life.
Backed by Johnson & Johnson and the NIH, Cytonics is developing a genetically engineered A2M variant that is more potent than the natural form. This lead drug candidate, "CYT-108," has been proven to restore up to 80% of cartilage damage caused by osteoarthritis in preclinical studies.
Cytonics' first-in-in-class CYT-108 will enter Phase 1 clinical trials later this year. Invest in Cytonics as they blaze toward their second FDA drug approval, and before this private biotech goes public. | |
| | |  | DOW 30,677.36 | +0.64% | | | | | S&P 3,795.73 | +0.95% | | | | | NASDAQ 11,232.19 | +1.62% | | | | | *As of market close | | | • | Stocks closed higher on Thursday, shaking off a mid-day drop. | | | • | Oil dropped 2.1 percent, closing at $104.00 per barrel. | | | • | Gold declined 0.6 percent, going for $1,828 per ounce. | | | • | Cryptocurrencies moved slightly higher, with Bitcoin at $20,879 at the market close | | | | | | | |
| | | Keep Accumulating Industry Leaders While the Market Fear Continues | | | | With the stock market in the throes of a bear pullback, many are looking to history as a guide for when the bear will end. While the answer varies, chances are stocks will remain weak for a few more weeks and even months as economic data continues to come in.
That said, investors who start accumulating shares of great companies, particularly industry-leading companies, will end up with a strong portfolio performance on the market's next rally higher.
» FULL STORY | | | | |
| | Insider Trading Report: Analog Devices (ADI) | | | | Bruce Evans, a director at Analog Devices (ADI), recently picked up 3,650 shares. The buy increased his stake by 3.6 percent, and came to a total price just over $526,000.
This marks the first insider buy at the company since last October. Company insiders, including c-suite executives and directors, have been regular sellers of shares of the semiconductor firm over the past three years, with only a few buys from insiders.
» FULL STORY | | | | |
| | Unusual Options Activity: BP (BP) | | | | Shares of oil and gas giant BP (BP) have slid in recent days. One trader sees the possibility for a rebound into the start of next year.
That's based on the January 2023 $31 calls. With 210 days until expiration, 6,511 contracts traded compared to an open interest of 125, for a 52-fold rise in volume on the trade. The buyer of the calls paid $2.10 to get into the trade.
» FULL STORY | | | | |
| | • | Mortgage Rates Resume Their Rise
30-year, fixed-rate mortgages averaged 5.8 percent for this week, a slight gain over the 5.78 percent the week before. That's as high as in late 2008, and is nearly double the 3.02 percent rate just one year ago. Mortgage rates tie directly into the costs of homeownership, and rapidly-rising rates are likely to lead to a slowdown in sales and home prices in the months ahead. | | | | • | US Natural Gas Sales to Europe Rise as Sales to China Drop
In the last year, sales of natural gas from the US to China have dried up, as China is now buying natural gas supplies from Russia. However, thanks to trade restrictions from Russia's invasion of Ukraine, natural gas sales from the US to Europe are on the rise. | | | | • | Corporate Borrowing Slows as Rates Rise
No US company has issued corporate debt in the past week, according to Bank of America (BAC). And companies in general have slowed down their borrowing activity in the past month. The move comes as interest rates have started to rise, which increases the cost of borrowing money. | | | | • | FDA Bans Juul E-Cigarettes
The FDA has rejected an application from Juul to sell e-cigarettes in the United States. The company needs to stop selling and distributing its products. This follows up from the agency's 2020 ban on mint and fruit-flavored vaping products to cut down on teen vaping use. | | | | • | Facebook Pay Rebrands for the Metaverse
Facebook Pay is rebranding to Meta Pay. The move comes months after the company renamed itself Meta Platforms (META). The goal is to refocus the product on integration with the Metaverse, where real money can be used to purchase digital goods. | | |
| | | | TOP | | | ADSK | 8.43% | | | | FDS | 8.007% | | | | CDAY | 7.241% | | | | WHR | 7.055% | | | | ALGN | 6.819% | | | | BOTTOM | | | MOS | 9.574% | | | | CF | 9.009% | | | | VLO | 7.602% | | | | ADM | 7.336% | | | | SLB | 6.77% | | | | |
| | |  | | The odds are more likely in favor of a recession than not. That speaks to the degree of tightening that the Federal Reserve is going to have to do now, having not done so in prior periods when perhaps they would have avoided some of the problems that are going to happen as a result. Unfortunately, it's going to be more economic pain than people at least six months ago anticipated, but are increasingly coming around to the reality that that's probably what's going to happen. | | - Dan Greenhaus, Solus Alternative Asset Management chief strategist, on why the economy is sliding into a recession and why investors should expect markets to continue to be volatile and toward the downside. | |
| | Invest In This Biotech Company Solving A $240B Problem | | | | | | Every year, over 600M patients suffering from osteoarthritis spend $240 billion on painkillers and other palliative solutions to the cartilage damage caused by this debilitating disease. These "band-aid" therapies are temporary and do not treat the root cause of osteoarthritis.
Enter Cytonics.
This private biotech startup has harnessed the therapeutic potential of a naturally occurring blood protein, called "A2M," to reverse cartilage deterioration in arthritic joints. Their first FDA approved A2M-based therapy has successfully treated over 8,000 patients, proving the therapeutic efficacy of A2M, and restoring patients' quality of life.
Backed by Johnson & Johnson and the NIH, Cytonics is developing a genetically engineered A2M variant that is more potent than the natural form. This lead drug candidate, "CYT-108," has been proven to restore up to 80% of cartilage damage caused by osteoarthritis in preclinical studies.
Cytonics' first-in-in-class CYT-108 will enter Phase 1 clinical trials later this year. Invest in Cytonics as they blaze toward their second FDA drug approval, and before this private biotech goes public. | |
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