👀Here’s Why the Market Hasn’t Pivoted Yet – And What to Look For

Good morning. Last week saw a strong rally for the market, with the best-performing week for stoc...

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. Last week saw a strong rally for the market, with the best-performing week for stocks since 2020. That's in spite of data indicating the economy continues to contract. As we get into August, however, that rally should cool. On a technical basis, the market has now had a strong rally. But it also fits the pattern of a bear market rally. And until the Fed stops raising interest rates, we likely won't see a sustained rally higher – aka, the so-called "pivot" that will signal a true change in the market's long-term trajectory. All told, that points to some caution ahead for traders, especially given the steep rally in the past week. Traders can look for strategic put option plays here. And look for ways to hedge existing positions with options trades like covered calls as well. Now here's the rest of the news: Sponsored Content 2 Dividend Stocks that Deliver Cash Weekly Are you still looking for consistent income in this near-zero interest rate environment? There is a better way. I just revealed the Holy Grail of dividend stocks - a safe, reliable and consistent stock that pays dividends EVERY single week - 52 times a year. It's simple: Buy the stock this Monday and you'll get your first dividend payout in your bank account this Thursday....and then every Thursday after for as long as you own the stock! Tap here to reveal the name of this stock for FREE. MARKETS DOW 32,845.13 +0.97% S&P 4,130.29 +1.42% NASDAQ 12,390.69 +1.88% *As of market close • Stocks rallied going into the weekend, capping the market's best-performing week since 2020. • Oil rose 1.9 percent, closing at $98.21 per barrel. • Gold rallied 0.5 percent, last going for $1,779 per ounce. • Cryptocurrencies moved higher, with Bitcoin at $23,848 at the stock market close. Today's TOP TIPS Invest With Companies Simplifying Now In a bull market, companies will try all sorts of new ways to compete with each other. When times get tougher, companies that are quick to cut back to the basics are the most likely to keep their losses to a minimum. That's especially true as smaller or more leveraged players end up dealing with steep losses or even bankruptcy. Companies that can simplify and streamline operations should be more focused and have higher profit margins as the market turns around. » FULL STORY Insider Trading Report: Bed Bath & Beyond Corp (BBBY) Andrea Weiss, a director at Bed Bath & Beyond Corp (BBBY), recently added 2,000 shares. The buy increased her holdings by about 3 percent, and came to a total purchase price just over $9,200. The buy adds to two other director buys in the past month, as well as a 50,000-share pickup from the company's Interim CEO. Over the past three years, insiders have been regular buyers of the stock, with only one insider sale occurring in July 2021. » FULL STORY Unusual Options Activity: Newmont Corporation (NEM) Shares of gold mining firm Newmont Corporation (NEM) have shed 27 percent of their value over the past year, as gold has failed to keep up with inflation. One trader sees the potential for a rebound in the months ahead. That's based on the December $50 calls. With 137 days until expiration, 5,411 contracts traded compared to a prior open interest of 314, for a 17-fold rise in volume on the trade. The buyer of the calls paid $0.80. » FULL STORY IN OTHER NEWS • PCE Shows 0.6 Percent Rise in June Personal consumption expenditures, or PCE, a measure of inflation used as the preferred metric by the Federal Reserve, increased by 0.6 percent in June. That's above expectations for a 0.5 percent monthly increase, and it's a sign that inflation may not have peaked yet. • Eurozone Reports Higher GDP in the Second Quarter The Eurozone reported an increase in its GDP in the second quarter of the year. The lifting of pandemic restrictions was a big driver, even as Russia's invasion of the Ukraine created uncertainty over things like natural gas and wheat exports. Those rising prices could push the EU into a recession in the coming months. • Oil Companies Report Record Profits Major oil companies like Exxon (XOM) and Chevron (CVX) rallied on Friday following their earnings. Both companies reported record profits, as high energy prices in the second quarter and tight spending policies paid off. That trend may reverse in the coming quarter, as energy prices have slightly dropped. • Hershey Warns on Halloween Demand Chocolate giant Hershey (HSY) has warned that they will not be able to meet consumer demand for candy this Halloween. Demand is on the rise as pandemic restrictions have eased, and ongoing supply chain issues have resulted in lower or changed production outputs. • Twitter and Musk Confirmed for October Trial A Delaware judge has confirmed that Twitter (TWTR) and Elon Musk will appear for trial between October 17 through the 20th. The issue at stake is whether or not Musk will follow through with his buyout offer, particularly in light of Twitter's lack of clarity on the size and scope of bots on the platform. S&P 500 MOVERS TOP AMZN 10.957% NOV 9.19% CVX  8.771% GWW 8.391% URI 6.233% BOTTOM INTC 8.424% CHD 8.409% VFC 7.731% EW  6.133% DXCM 6.035% Quote of the Day The market is taking on a hope that slowing economic growth is going to result in a more dovish Fed moving forward, even if it's a little further out. So it would make sense to me that weaker rates expectations moving forward would result in a little buoyancy in the equity markets. - Lauren Goodwin, portfolio strategist at New York Life Investments, on why the market rallied last week even as the Fed raised interest rates and GDP numbers showed a second quarterly decline in a row. Sponsored Content 2 Dividend Stocks that Deliver Cash Weekly Are you still looking for consistent income in this near-zero interest rate environment? There is a better way. I just revealed the Holy Grail of dividend stocks - a safe, reliable and consistent stock that pays dividends EVERY single week - 52 times a year. It's simple: Buy the stock this Monday and you'll get your first dividend payout in your bank account this Thursday....and then every Thursday after for as long as you own the stock! Tap here to reveal the name of this stock for FREE. Not sure the best way to get started? 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