💪This Strong Market Will Keep Assets Moving Lower

Good morning. The pandemic has brought about a number of unusual surprises. The housing market...

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. The pandemic has brought about a number of unusual surprises. The housing market took off at a time when many thought that sales would drop as people stayed at home. Today, we're facing a labor market with shortages, as the latest data shows nearly 2 jobs for every available hire. With many recently-laid-off employees quickly finding new work, the labor market remains strong. That's good news for laborers, but bad news if you're trying to slow the economy and wring out inflation. That's a likely reason why the jobs numbers are about to make markets more volatile. It's also why traders should expect some more down days ahead, as we're nowhere near bringing down inflation enough to make the Federal Reserve comfortable. Now here's the rest of the news: Sponsored Content We Can Turn Your Trading Losses into Wins You know that options are the best way to make money in a bear market. So why aren't you seeing success? The truth is, while it's easy to trade options… It can be hard to find trades that are low-risk, but also high-reward. Give Options Surge a try today. MARKETS DOW 31,790.87 -0.96% S&P 3,986.16 -1.10% NASDAQ 11,883.14 -1.12% *As of market close • Stocks moved lower on Tuesday, dropping for a third day in a row. • Oil slid 5.1 percent, closing at $92.04 per barrel. • Gold dipped 0.8 percent, last going for $1,735 per ounce. • Cryptocurrencies also trended lower, with Bitcoin at $19,946 at the stock market close. Today's TOP TIPS Ongoing Inflation Will Continue to Favor This Asset Class Inflation is still running hot. While that may change in the coming months, it will still take a long time to get back to a pre-pandemic level. Investors who are mindful of inflation know that they have a few ways to protect their wealth. One way is with commodities. These are physical goods that have a real use as the building blocks of the economy, in everything from construction to food to energy. » FULL STORY Insider Trading Report: HF Sinclair Corp (DINO) Franklin Myers, a director at HF Sinclair Corp (DINO), recently added 7,250 shares. The buy increased his holdings by about 7.3 percent, and came to a total price just under $406,000. This adds to a 4,800 share buy that the director made earlier in August, and 10,700 shares back in May. Overall, insiders have been fairly active as both buyers and sellers in the past few months, with more buying than selling. » FULL STORY Unusual Options Activity: Abbott Laboratories (ABT) Shares of pharmaceutical and medical supply company Abbott Laboratories (ABT) have lost about 20 percent of their value in the past year. One trader sees a further drop in shares ahead. That's based on the November $75 put options. With 79 days until expiration, 10,841 contracts traded compared to a prior open interest of 350, for a 31-fold rise in volume on the trade. The buyer of the puts paid $0.24. » FULL STORY IN OTHER NEWS • Job Openings Hit 11.2 Million in July Available job openings in the US reached 11.24 million in July. That's higher than estimates of 10.3 million, according to FactSet. The total pool of available workers hit 5.67 million for the month, indicating that there are nearly 2 available jobs for every worker, and that the labor shortage remains with us. • Traders Lower Bets on Inflation After Powell Speech Investors have lowered their inflation expectations for the coming months following last week's speech by Federal Reserve Chairman Jerome Powell. Traders now see the Fed continuing to raise interest rates into 2023 to bring down inflation. Such a move may also lead to continued lower prices for assets such as stocks and bonds. • Consumer Confidence Rises as Inflation Shows Signs of Slowing The US Consumer Confidence Index rose in August, hitting a level of 103.2. The move higher is a reversal of three months of declines. The index stood at 95.3 in July, and expectations were for a rise to 97.4. The index is measured on a scale of 140, and the move higher has occurred as inflation rates have started to show signs of slowing. • Justice Department May File Antitrust Suit Against Apple The United States Department of Justice is in the early stages of drafting an antitrust lawsuit against Apple (AAPL), according to sources familiar with the matter. The suit could arrive by the end of the year, although a final decision has yet to be made. The suit would look at the company's potential abuse of power via the control it has over the App Store. • Crypto ATM Company Plans to Go Public Bitcoin Depot, a Bitcoin ATM company, is looking to go public in a merger with special purpose acquisition company (SPAC) GSR II Meteora Acquisition Corp (GSRM). The deal would value the company at $885 million, and rise $321 million in capital for the company to expand. S&P 500 MOVERS TOP BBY 2.32% EPAM 1.933% PPG 1.858% VFC 1.581% PAYC 1.421% BOTTOM CF 6.247% FCX 5.683% APA 5.561% HAL 5.423% BKR 5.147% Quote of the Day While the aggressive and unrelenting selling from Friday is abating, there isn't much genuine buy demand – even the bulls want to get through some of this week's major macro events (including China's PMIs and the Eurozone CPI on Wed and the US jobs report on Friday) before stepping back in on the long side. The late-summer attendance/volume conditions make the environment even more treacherous than normal, while Sept's horrible seasonals are just one more factor keeping people on edge. - Adam Crisafulli of Vital Knowledge, on why the market may not see a strong rally – or further decline – until later in the week as more big-picture economic data comes out. Sponsored Content We Can Turn Your Trading Losses into Wins You know that options are the best way to make money in a bear market. So why aren't you seeing success? The truth is, while it's easy to trade options… It can be hard to find trades that are low-risk, but also high-reward. Give Options Surge a try today. Not sure the best way to get started? 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