| | | | DOW 32,151.71 | +1.19% | | | | S&P 4,067.36 | +1.53% | | | | NASDAQ 12,112.31 | +2.11% | | | | *As of market close | | • | Markets closed higher on Friday, with stocks closing near their highs of the day. | | • | Oil rose 3.4 percent, to $86.34 per barrel. | | • | Gold rallied 0.4 percent, last going for about $1,727 per ounce. | | • | Cryptocurrencies soared on average, with Bitcoin at $21,241 at the stock market close. | | | | | | | | | | Keep Sticking with Semiconductors Amid the Ongoing Shortage | | | | A few major themes have been at play over the past year. While tech stocks have largely sold off thanks to a decline in investors willing to take on risks, a shortage in the semiconductor industry has created a unique situation. These companies are poised for their best growth in years, yet are also trading at their best valuation in years. Investors who accumulate shares of these leaders now can benefit when that price trend changes. » FULL STORY | | | | | | Insider Trading Report: PVH Corp (PVH) | | | | Stefan Larsson, CEO at PVH Corp (PVH), recently bought 18,540 shares. The buy increased his holdings by nearly 16 percent and came to a total price of just over $1,000,000. He was joined by two other company executives, including the CFO, who each bought 1,857 shares for a total purchase price of $100,000. The three buys mark the first insider buys of the year, following one small sale from a VP earlier in the year. » FULL STORY | | | | | | Unusual Options Activity: Petroleo Brasileiro (PBR) | | | | Shares of oil and gas giant Petroleo Brasileiro (PBR) are up 38 percent in the past year thanks to strong global energy prices. One trader sees a decline in the coming weeks. That's based on the September 30 $12.50 puts. With 18 days until expiration, 29,427 contracts traded compared to a prior open interest of 199, for a staggering 148-fold rise in volume on the trade. The buyer of the puts paid $0.29.
» FULL STORY | | | | | | • | Europe Holds Talks on Energy Markets Amid Soaring Electricity Costs
Energy ministers across Europe are looking into measures to ease rapidly-rising electricity costs across the continent. The initial plan appears to be a goal of imposing a cap on revenue earned by non-gas producers of electricity, with excess redistributed to businesses and customers, although nothing is set in stone yet as prices continue to rise ahead of energy-heavy winter months. | | | | • | US On Track for Rail Strike This Week
Unions representing nearly 90,000 freight rail workers in the US are poised to go on strike on September 16th. Such a strike could impact about 40 percent of the nation's freight. Such a strike, no matter how short or long, would add to further supply chain issues seen over the past few years. | | | | • | Amazon Picks Up Robotics Company Cloostermans
Amazon (AMZN) has announced the purchase of Cloostermans. The Belgian-based robotics company has been partnered with Amazon since 2019, for better managing warehouse needs. The robotic technology is used for stacking heavy palettes and goods, as well as packaging goods for delivery. The terms of the acquisition were not disclosed. | | | | • | Instagram to Test Repost Feature
Instagram, the social media site owned by Meta Platforms (META), is looking to add a repost feature. The rollout will start with select users before moving publicly. The feature will allow users to share posts that resonate with them, while also crediting original users, a feature other social media platforms have. | | | | • | White House Comes Out Against Bitcoin Mining
The White House has come out against Bitcoin mining, as well as any other proof-of-work cryptocurrency. The White House has cited the potential environmental emissions used by such mining and the greenhouse gasses generated as a result. It's unclear how such a ban could play out against a decentralized network. | | | | | | TOP | | DISH | 8.258% | | | KR | 7.103% | | | BKR | 5.944% | | | TTWO | 5.88% | | | FCX | 5.307% | | | BOTTOM | | ENPH | 3.418% | | | NLOK | 2.116% | | | HUM | 1.279% | | | MOH | 1.099% | | | MCK | 0.986% | | | | | | | | | Recession risk is rising and we have been moving more defensive in our portfolios as a result. However, high inflation means that traditional 'risk off' strategies such as cash and government bonds can create a drag on total return. | | - Lauren Goodwin, portfolio strategist at New York Life Investments, on the increasing number of signs pointing to a slowing economy, and why investors may want to focus on defensive investments over the next few months. | | |
No comments:
Post a Comment