 | | |  | DOW 31,510.43 | -0.88% | | | | | S&P 3,955.00 | -0.78% | | | | | NASDAQ 11,816.20 | -0.56% | | | | | *As of market close | | | • | Stocks dropped again on Wednesday, dropping for a fourth day in a row. | | | • | Oil dipped 2.8 percent, closing at $89.05 per barrel. | | | • | Gold moved down 0.9 percent, last going for $1,721 per ounce. | | | • | Cryptocurrencies traded mixed, with Bitcoin at $20,227 at the stock market close. | | | | | | | |
| | | One Seasonal Trend Likely to Benefit Shareholders Has Arrived | | | | Typically, the fall season isn't good for the stock market. Much like a harvest season, it's a time for reaping, not sowing. But in some parts of the economy, the fall can be a favorite time of year. Why? Because the pumpkin spice must flow.
A favorite flavor of the fall season, pumpkin-themed flavoring in a variety of foods and beverages has exploded in recent years. That tends to bode well for the bottom line for a number of companies.
» FULL STORY | | | | |
| | Insider Trading Report: Energizer Holdings (ENR) | | | | Mark Lavigne, CEO at Energizer Holdings (ENR), recently added 3,000 shares. The buy increased his holdings by 2 percent, and came to a total price of just over $91,400. This is the second buy from the CEO in the past few weeks, following a 2,500 share buy.
Over the past three years, insides haven't been too active overall, but insider buying has generally exceeded selling. And company directors have been more inclined to be sellers, with company executives adding to their holdings.
» FULL STORY | | | | |
| | Unusual Options Activity: Twitter (TWTR) | | | | Shares of social media company Twitter (TWTR) are down 38 percent in the past year, amid heavy volatility over the potential takeover of the company. One trader sees shares declining in the coming weeks.
That's based on the November $34 puts. With 78 days until expiration, 4,249 contracts traded compared to a prior open interest of 213, for a 20-fold rise in volume on the trade. The buyer of the puts paid $3.70 to make the downside bet.
» FULL STORY | | | | |
| | • | Job Growth Slows in August
The latest payroll data from ADP (ADP) indicates that job growth has slowed for the month of August, with 132,000 new private sector jobs being created, down from 268,000 in July. The ADP data comes out before the Friday government job report, and can sometimes indicate how that market is performing ahead of time. | | | | • | Cleveland Fed President Warns on No Cuts Through 2023
Loretta Mester, President of the Cleveland branch of the Federal Reserve, sees interest rates rising to over 4 percent by the end of the year, indicating more rate hikes past the expected increase later this month. She also sees there being no cuts in interest rates through 2023, which many investors are still expecting. | | | | • | Russia Halts Nord Stream Pipeline to Europe Again
Russia has once again shut down the Nord Stream pipeline for maintenance. The pipeline is the major line for Russian natural gas to move to Europe. Some see the move as political amid Russian sanctions. European nations are looking to fill gas storage facilities ahead of the winter months to head off a possible shortage. | | | | • | Snapchat to Lay Off 20 Percent of Staff
Social media app Snapchat (SNAP) has announced a plan to lay off 20 percent, or about 1,200, of its 6,400 employees. The move comes as the company has been poorly performing over the past year and as the company has yet to hit profitability. Other tech companies have already been moving to aggressively cut headcount. | | | | • | Amazon Looks to Expand in India
E-commerce giant Amazon (AMZN) is looking to expand in India. The country is lagging Flipkart in the country, and has struggled to make inroads there so far. India is seen as one of the largest potential growth markets, thanks to its massive population, although the company will also face hefty regulatory scrutiny there. | | |
| | | | TOP | | | META | 4.403% | | | | CEG | 3.288% | | | | LVS | 3.042% | | | | PYPL | 2.484% | | | | NFLX | 2.33% | | | | BOTTOM | | | PVH | 10.121% | | | | HPQ | 6.913% | | | | MOS | 5.464% | | | | BBY | 5.381% | | | | NWL | 3.616% | | | | |
| | |  | | The markets are fragile and the hawkish reception shows they're trying to be crystal clear that the Fed pivot is not in the cards and they're going to continue to have inflation as their number one priority. That narrative is going to continue to put pressure on the market. We're just going to have a lot of volatility… into year-end…We're at a tricky juncture, but I don't think one particular data point is going to give relief to the market. You're going to need to see several months of the actual inflation data continue to move down for the Fed to feel any bit of comfort. | | - Stephanie Lang, chief investment officer of Homrich Berg, on why the market has dropped following last week's Fed speech, and why it may take more than a single data point like Friday's jobs report to turn the market around again. | |
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