Good morning. The past few weeks have seen some relief at the gas pump, as oil prices have come...
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 31,072.61 | -0.69% | | | | | S&P 3,830.85 | -0.84% | | | | | NASDAQ 11,360.05 | -0.81% | | | | | *As of market close | | | • | Stocks moved lower on Monday, reversing morning gains. | | | • | Oil rose 4.9 percent, closing at $102.34 per barrel. | | | • | Gold increased 0.1 percent, last going for $1,706 per ounce. | | | • | Cryptocurrencies trended higher, with Bitcoin at $21,566 at the stock market close. | | | | | | | |
| | | Stick With Proven Winners as Retail Spending Slows | | | | While the latest data shows that retail spending is up – rising 1 percent in the past month—the rate of spending has slowed. That's an indicator that consumers will likely cut back on luxury goods, and focus more on buying basics where they can get reasonable prices.
For investors, that's potentially bad news for a number of retail stocks. However, some companies tend to fare well as they provide customers a variety of goods at inexpensive prices.
» FULL STORY | | | | |
| | Insider Trading Report: Rent-A-Center Inc (RCII) | | | | Jeffrey Brown, a director at Rent-A-Center Inc (RCII), recently added 1,223 shares to his holdings. The buy increased his stake by just over 1.6 percent, and came to a total cost of just over $25,000.
The director last bought shares in April, paying about the same amount for only 962 shares. And other insiders have been active buyers in the past year as well, including a 40,000 share buy from the company CEO for just over $1 million back in March.
» FULL STORY | | | | |
| | Unusual Options Activity: EQT Corporation (EQT) | | | | Shares of oil and gas exploration company EQT Corporation (EQT) are up 90 percent over the past year. One trader is betting that shares will rebound back to their 52-week highs in the coming months.
That's based on the December $40 calls. With 150 days until expiration, 4,632 contracts traded compared to a prior open interest of 101, for a 46-fold rise in volume on the trade. The buyer of the calls paid $4.90 to get into the position.
» FULL STORY | | | | |
| | • | Labor Market Shows Mixed Signals
The latest jobs data shows that the labor market remains strong – at least on a headline level. Data from employers and households, however, is showing a slight divergence, and a sign that some households are losing ground, while others are gaining thanks to holding down multiple jobs. | | | | • | Goldman CEO Warns on Inflation
David Solomon, CEO of Goldman Sachs (GS), warns that inflation remains "deeply entrenched" in the global financial system. The CEO remains uncertain of how that will play out through the end of the year, but the investment banks has slowed its rate of hiring and has cut its fee rate as well. | | | | • | Foreign Homebuying Shows Signs of Recovery
Foreign buyers of US homes have slowed in recent years, amid a competitive bidding market. Now, with interest rates rising and domestic demand slowing, the National Association of Realtors reports that international buyers have increased their buying by 8.5 percent compared to the prior year ending March. | | | | • | Manhattan Rent Tops $5,000
The average rental price in Manhattan topped $5,000 last month, a new record for the history of the city. The average hit $5,018, or $82.18 per square foot. That's a 29 percent increase compared to a year ago, and a 1.7 percent increase compared to May. | | | | • | Meta Ruling On Giphy Sale Kicked Back To Lower Court
Meta Platforms (META) will be holding onto Giphy, the GIF market place for now. The news comes as the UK's Competition Appeal Tribunal has sent the case back to the country's regulator. UK regulators initially ordered the company to sell the platform, but didn't provide full disclosure on documents related to the decision. | | |
| | | | TOP | | | FCX | 6.197% | | | | ENPH | 5.91% | | | | SEDG | 5.578% | | | | CCL | 5.12% | | | | NCLH | 5% | | | | BOTTOM | | | PGR | 4.988% | | | | BIO | 3.694% | | | | FTNT | 3.687% | | | | REGN | 3.43% | | | | DHR | 3.409% | | | | |
| | |  | | The market is getting a little bit more convinced that the Fed is probably not going to be delivering a full point rate increase at the end of the month and that we're getting close to seeing peak Fed tightening get priced into the market… [That's] giving some relief for investors to scale back into equities. | | - Edward Moya, senior analyst at OANDA, on the market pricing in the end to interest rate hikes, potentially by the end of the year. | |
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