 | | |  | DOW 29,134.99 | -0.43% | | | | | S&P 3,647.30 | -0.21% | | |  | NASDAQ 10,829.50 | +0.25% | | | | | *As of market close | | | • | Markets traded mixed on Tuesday, with the S&P 500 setting a new 2022 low. | | | • | Oil rose 2.4 percent, closing at $78.51 per barrel. | | | • | Gold traded flat, last going for about $1,635 per ounce. | | | • | Cryptocurrencies traded mixed, with Bitcoin at $19,055 at the stock market close. | | | | | | | |
| | | Bet On Companies Incorporating the Latest Tech Trends | | | | A number of companies are developing new and innovative technologies. While older companies may get overlooked during a bull market, many companies can use proven new technologies to improve their business lines.
That's why, while banking hasn't fundamentally changed, the rise of ATMs has led to a decrease in tellers. And online banking has further reduced the need for a physical location for banking services.
» FULL STORY | | | | |
| | Insider Trading Report: Adobe (ADBE) | | | | Daniel Durn, CFO and EVP at Adobe (ADBE), recently picked up 3,250 shares. The buy increased his holdings by over 57 percent, and came to a total cost of just over $936,000.
This is the first insider buy at the company since a director picked up 973 shares back in January. Otherwise, company insiders have been sellers of shares, including both executives and directors. That's fairly typical for a large-cap tech company, making the rare insider buys more interesting.
» FULL STORY | | | | |
| | Unusual Options Activity: Yamana Gold (AUY) | | | | Shares of Yamana Gold (AUY) are up 2 percent over the past year, even as gold prices have slid to a two-year low. One trader sees a potential for shares to trend even higher in the coming weeks.
That's based on the November $4.50 calls. With 51 days until expiration, 4,495 contracts traded compared to a prior open interest of 111, for a 41-fold rise in volume on the trade. The buyer of the calls paid $0.16 to make the bet.
» FULL STORY | | | | |
| | • | 71 Percent of Workers Say Wages Aren't Keeping Up with Inflation
71 percent of US employees say that the cost of living is rising at a faster pace than increases in salaries and wages, according to a survey conducted by Bank of America (BAC). That is up from 58 percent in February. The survey is based on workers who participate in 401(k) plans, with nearly half saying they've taken measures to adjust to the economic strain. | | | | • | Home Prices Cool at Fastest Rate in History
The latest Case-Shiller Index data show that home prices rose 14.9 percent year-over-year. While still a bit move higher, it's the steepest slowdown in growth in history, from the 17.4 percent rise in June. The deceleration is likely to continue as homes stay on the market for longer, more homes are selling below their listing price, and as mortgage rates rise. | | | | • | Mortgage Rates Near 7 Percent
Mortgage rates continue to rise, with last week's average 30-year fixed rate loan hitting 6.29 percent. An increasing number of traders and investors are expecting mortgage rates to top 7 percent. The rise in mortgage rates in the past year has now nearly doubled the cost of owning a home, and is pushing a steep slowdown in the housing market. | | | | • | Lumber Reaches Pre-Covid Levels
Lumber prices are back to $410.80 per thousand board feet, their lowest level in two years. That's down about one-third from a year ago, and down 70 percent since March. Lumber prices moved higher due to a jump in demand for new construction, which is now showing signs of slowing down. | | | | • | Powell Calls for DeFi Regulation
Federal Reserve Chairman Jerome Powell is calling for more regulation in decentralized finance or DeFi, citing a lack of transparency and structural issues with such systems today. Such regulation could increase integration between the new form of finance, and the traditional financial system, and also mitigate potential risks in DeFi. | | |
| | | | TOP | | | CF | 6.098% | | | | NCLH | 4.257% | | | | MOS | 4.15% | | | | M | 4.011% | | | | RCL | 3.906% | | | | BOTTOM | | | DLR | 3.979% | | | | OGN | 3.539% | | | | KDP | 3.514% | | | | GPN | 3.417% | | | | FLT | 3.402% | | | | |
| | |  | | Such U.S. dollar strength has historically led to some kind of financial/economic crisis. If there was ever a time to be on the lookout for something to break, this would be it. | | - Michael Wilson, chief U.S. equity strategist at Morgan Stanley, on why the extreme strength of the US dollar risks causing some kind of major problem in financial markets given the extent of the swing. | |
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