 | | How the Wealthy Elite Pick Stocks | | |  | | Hey Trader,
"I knew that was going to happen!"
You know the feeling…
When your 'hunch' connects with all the energy in the world and works out in your favor.
Or not.
And that's the awful feeling I'm writing about – the OR NOT.
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Join our Free Live Session on how Stop Inflation from Hurting You with This One Simple Trading Strategy.
It's free. There are no replays on this session. And if you bring a few of your own ticker symbols, our Pro Trader will get to as many as possible during the hour.
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| | |  | DOW 33,336.67 | +0.08% | | |  | S&P 4,207.27 | -0.07% | | | | | NASDAQ 12,779.91 | -0.58% | | | | | *As of market close | | | • | Stocks traded mixed on Thursday, as traders digested the latest corporate earnings. | | | • | Oil rose 2.3 percent, closing at $94.06 per barrel. | | | • | Gold dipped 0.7 percent, last going for $1,801 per ounce. | | | • | Cryptocurrencies generally rallied, with Bitcoin at $24,185 at the stock market close. | | | | | | | |
| | | Continue to Stick with Safe Stocks as Inflation Remains High | | | | While investors were happy to see the rate of annual inflation start to slow, inflation is still unacceptably high. That will continue to keep consumers on the defensive. They may cut their spending in some areas to afford the higher prices elsewhere.
That could bode well for low-cost producers for some time. Most companies offering inexpensive products can usually raise prices to counter inflation, even if it may also result in some lower sales.
» FULL STORY | | | | |
| | Insider Trading Report: Exxon Mobil Corp (XOM) | | | | Jeffrey Ubben, a director at Exxon Mobil Corp (XOM), recently picked up 1,000,000 shares. The buy increased his stake by nearly 565 percent, and came to a total purchase price of $88.45 million.
This is the first buy at the company since last November. So far this year, a few company insiders have been sellers of shares. Over the past three years, there's been a mix of insider buys and sells, but overall sellers have been slightly greater than buyers.
» FULL STORY | | | | |
| | Unusual Options Activity: Coinbase (COIN) | | | | Shares of cryptocurrency brokerage firm Coinbase (COIN) rallied after reporting dismal earnings, as the overall market surged higher on a lower-than-expected CPI report. One trader is betting the shares will decline from here.
That's based on the November $90 put options. With 98 days until expiration, 2,817 contracts traded compared to a prior open interest of 134, for a 21-fold rise in volume on the trade. The buyer of the puts paid $18.48 to make the trade.
» FULL STORY | | | | |
| | • | Time on Market Increases as Home Sales Slow
The median time on market for a home in the US is one day longer than the same week a year ago, according to the latest data from Realtor.com. That's the first time that the length on market has increased for homes since June 2020, and is a sign of a potential slowdown for home sales. | | | | • | Wholesale Inflation Drops 2.5 Percent
The producer price index, a measure of wholesale prices, decreased 0.5 percent compared to the prior month. However, the index is still up 9.8 percent year-over-year. The decline occurred thanks to the large drop in energy prices in the past month. | | | | • | Manhattan Rents Hit Record High for Sixth Consecutive Month
The median rent for an apartment in Manhattan has hit $4,150 per month for July. That's a 29 percent rise compared to a year ago, and a 2.5 percent increase since June. This marks the sixth consecutive month for rent increases in the Big Apple. | | | | • | Walgreens to Offer Bonuses Up to $75,000 For Pharmacists
Pharmacy chain Walgreens (WBA) is looking to offer signing bonuses of up to $75,000 for pharmacists as the company looks to fill the role in some markets. The shortfall in pharmacy employees has led to delays in filling orders, and has angered workers as well as customers. | | | | • | Instagram Prepares for EU Data Decision
The Irish Data Protection Commission (DPC) is about to make a final decision related to Instagram's handing of children's data in the European Union. The decision should resolve regulatory disputes, but may also come with increased obligations for Instagram, owned by Meta Platforms (META), to fulfill. | | |
| | | | TOP | | | DVN | 7.352% | | | | MRO | 6.916% | | | | M | 6.557% | | | | SLB | 5.498% | | | | FANG | 5.078% | | | | BOTTOM | | | ZM | 3.884% | | | | ENPH | 3.521% | | | | NOW | 3.434% | | | | PFE | 3.393% | | | | MELI | 3.35% | | | | |
| | |  | | The deceleration in the Consumer Price Index for July is likely a big relief for the Federal Reserve, especially since the Fed insisted that inflation was transitory, which was incorrect. ... If we continue to see declining inflation prints, the Federal Reserve may start to slow the pace of monetary tightening. | | - Nancy Davis, founder of Quadratic Capital Management, on Wednesday's CPI report, and why it may be the start of a potential pivot in Fed policy away from hiking interest rates. | |
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