🙃 Prepare for This Bear Market Rally to End

Good morning. Some investors are getting ahead of events, in anticipation of the Federal Reserve...

 

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. Some investors are getting ahead of events, in anticipation of the Federal Reserve reversing course with its interest rate hikes. With the bank meeting this week, another hike of at least 0.75 percent is likely already in the cards. The data clearly shows that inflation remains far higher than desired by the central bank, so they're likely to raise for longer than many would like right now. That's true even as data like last week's PMI data showed a contraction in the manufacturing sector. With companies shutting down production, and retailers reporting excess inventory, it's clear that we're still early in the stage of the economy clearing out its excesses. That means the current rally in recent weeks is likely a bear market rally – and that it's likely to see an end sooner rather than later. Traders should continue to be cautious, and look for some downside opportunities after the market's recent run. Now here's the rest of the news: Sponsored Content The Forever Battery: Making Gas Guzzlers Obsolete Only 2% of cars sold in the U.S. today are electric vehicles… but that's about to change — FAST. A new battery breakthrough is ready to hit the market. It could revolutionize the $2 trillion automotive industry … and could soon make gas guzzlers obsolete. This technology is predicted to cause a 1,500% surge in electric vehicle sales over the next four years. The company pioneering this new battery could be the investment of a lifetime. Click here for details. MARKETS DOW 31,899.29 -0.43% S&P 3,961.63 -0.93% NASDAQ 11,834.11 -1.87% *As of market close • Stocks dropped on Friday, reversing some of their gains from last week. • Oil fell another 1.9 percent, closing at $94.55 per barrel. • Gold rose 0.5 percent, last going for $1,722 per ounce. • Cryptocurrencies slightly rose, with Bitcoin at $22,639 at the stock market close. Today's TOP TIPS This Top Tech Name Looks Attractive Ahead of Earnings It's still the early stages for earnings season. But we've seen companies perform above expectations, even as overall performance has started to slow in the past year. With some big tech names about to report, now may be the time to look at adding these stocks. While they've typically been growth names, in a market slowdown, smaller companies may not be able to grow. And the big established names could end up with a larger market share as a result. » FULL STORY Insider Trading Report: Comtech Telecommunications Corp (CMTL) Lisa Lesavoy, a director at Comtech Telecommunications Corp (CMTL), recently added 10,000 shares. The buy increased her stake by 118 percent, and came to a total price just over $102,000. The buy comes a day after the company CFO bought 4,000 shares for just over $32,000, and the company President and CEO picked up 6,250 shares, for just under $60,000. Insiders were otherwise sellers of shares in 2019 and earlier. » FULL STORY Unusual Options Activity: United Parcel Service (UPS) Shares of shipping and logistics company United Parcel Service (UPS) are down about 12 percent over the past year. One trader is betting on a rally in the next few weeks. That's based on the August $205 calls. With 25 days until expiration, 5,468 contracts traded compared to a prior open interest of 173, for a 32-fold rise in volume on the trade. The buyer of the calls paid $1.58 to make the trade. » FULL STORY IN OTHER NEWS • Chinese Property Developer Bonds Take a Dive Nearly a year after Chinese property development companies have seen stalled growth and a drop in share prices, the bond market is warning that the space is still in danger. Developer bonds are in a steep bear market, as lending has slowed in China, and as some have been looking to avoid making payments amid the current economic uncertainty. • Germany Bails Out Natural Gas Importer The German government is bailing out natural gas distributer Uniper. Up to $15.3 billion will be provided to keep the company going. The money will be a combination of covering future losses, and an expansion of credit facilities. The company has been under pressures as soaring spot prices for natural gas have hit the firm. • Russia Slashes Interest Rates The Central Bank of Russia has made a fifth cut in interest rates this year. The rate now stand at 9.5 percent following a 150-basis point, or 1.5 percent, cut. In February, rates also stood at 9.5 percent, but were raised to 20 percent following the country's invasion of Ukraine. • California Town Risks Municipal Debt Default The California town of Paradise is running out of funds to make a $5 million repayment on its municipal funds. The town has been ravaged by wildfire in recent years, but is shining a light on other potential dangers in the muni market right now. • Twitter Reveals $33 Million Cost for Pending Acquisition In its most recent earnings report, social media company Twitter (TWTR) reports that it spent $33 million in the second quarter on the potential acquisition by Elon Musk. The figure is likely to increase at the company is taking Musk to court after he has reneged on a deal to acquire the company. S&P 500 MOVERS TOP HCA 11.428% SLB 4.282% PPG  3.888% PM 2.5% DHI 2.057% BOTTOM SIVB 17.152% STX 8.109% META 7.589% RHI 6.832% NUE 6.738% Quote of the Day This is showing you that market expectations are really low, that a little bit of good news can go a long way when you have low expectations. - Keith Lerner, analyst at Truist, on why investors have moved quickly back into growth stocks, even as data continues show the economy remains weak. Sponsored Content The Forever Battery: Making Gas Guzzlers Obsolete Only 2% of cars sold in the U.S. today are electric vehicles… but that's about to change — FAST. A new battery breakthrough is ready to hit the market. It could revolutionize the $2 trillion automotive industry … and could soon make gas guzzlers obsolete. This technology is predicted to cause a 1,500% surge in electric vehicle sales over the next four years. The company pioneering this new battery could be the investment of a lifetime. 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