Good morning. The stock market is having one of its worst years in a long time. But the bond...
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 29,260.81 | -1.111% | | | | S&P 3,655.04 | -1.03% | | | | NASDAQ 10,802.92 | -0.60% | | | | *As of market close | | • | Markets moved lower on Monday, extending their drop from last week. | | • | Oil dropped 2.7 percent, closing at $76.64 per barrel. | | • | Gold dropped 1.4 percent, last going for about $1,632 per ounce. | | • | Cryptocurrencies traded mixed, with Bitcoin at $19,169 at the stock market close. | | | | | | | | | | It's Becoming a Stock Picker's Market for This Sector | | | | The market is a series of sectors. Investors who invest in the right sectors at the right time can capture a big part of the market's performance. Those who pick the wrong sector risk being on the losing end of the market. And within a sector, there will be times when some companies fare better than others. That's when it becomes a stock picker's market. Those who can navigate the challenge can make better returns, even in a sector that's no longer completely going up. » FULL STORY | | | | | | Insider Trading Report: Alpine Income Property Trust (PINE) | | | | Consolidated Tomoka Land Company, a major owner at Alpine Income Property Trust (PINE), recently added 5,400 shares. The buy increased the fund's stake by 0.6 percent, and came to a total cost just over $95,300. This adds to other buys made by the fund throughout the year. Additionally, a company SVP has picked up shares back in March. Over the past three years, insiders have been exclusively buyers of shares, with no insider sales. » FULL STORY | | | | | | Unusual Options Activity: FS KKR Capital Corp (FSK) | | | | Shares of asset manager FS KKR Capital Corp (FSK) are down about 15 percent, the same as the S&P 500, over the past year. One trader sees the possibility for a further decline in shares in the coming weeks. That's based on the November 18 $17.50 puts. With 52 days until expiration, 15,775 contracts traded compared to a prior open interest of 257, for a 61-fold rise in volume on the trade. The buyer of the puts paid $0.60 to make the bet.
» FULL STORY | | | | | | • | British Pound Hits Record Low Against Dollar
The British pound hit a record low against the US dollar in early trading yesterday. The currency hit $1.0349 before moving to the $1.085 range in trading on Monday. The pound also hit its lowest level against the Euro since September 2020. The move occurred as the country looked to create a large tax cut. | | | | • | China Tightens Belt and Road Program
China is scaling back its "Belt and Road" program, an initiative to expand its influence across Asia, Africa, and Latin America by providing capital and resources for infrastructure projects. However, those projects have stalled in recent years, and rising interest rates are leaving countries struggling to pay off their debts. | | | | • | 40 Percent of Americans Will Change Holiday Shopping Habits Due to Inflation
Two out of five Americans, or 40 percent, expect to cut back on how they shop for the holidays this year due to inflation. The biggest drive is food costs, which are up 13.5 percent compared to a year ago. That will put a pinch on spending for holiday foot items. And a staggering 84 percent of shoppers rae looking for ways to save money on holiday spending this year. | | | | • | Netflix Sets Up Game Studio
Streaming service company Netflix (NFLX) has started its own internal games studio, based out of Helsinki, Finland. The company is being run by the co-founder of the Zynga Helsinki game development studio. This bring Netflix up to four game studios, designed to add to its streaming services in the coming years. | | | | • | Apple Moves iPhone Production to India
Consumer tech giant Apple (AAPL), is moving production of the iPhone 14 to India from China. The move is part of a plan to diversify the company's manufacturing away from China. The new phone model was recently unveiled, offering updated camera systems and improved performance and safety features. | | | | | | TOP | | WYNN | 12.138% | | | LVS | 11.954% | | | TCOM | 5.887% | | | GNRC | 3.54% | | | COST | 3.349% | | | BOTTOM | | BKR | 5.748% | | | AIV | 5.725% | | | DISH | 5.559% | | | AES | 5.167% | | | HAL | 5.024% | | | | | | | | | The market has been transitioning clearly and quickly from worries over inflation to concerns over the aggressive Federal Reserve campaign. You see bond yields rising to levels we haven't seen in years — it's changing the mindset to how does the Fed get to price stability without something breaking. | | - Quincy Krosby, analyst at LPL Financial, on the market's big shift down last week to re-test the June lows as the Federal Reserve continues to hike interest rates aggressively. | | |
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