 | | |  | DOW 31,774.52 | +0.61% | | | | | S&P 4,006.18 | +0.66% | | | | | NASDAQ 11,862.13 | +0.60% | | | | | *As of market close | | | • | Markets moved higher on Thursday, in a volatile trading session. | | | • | Oil rose 1.1 percent, to $82.24 per barrel. | | | • | Gold slid 0.5 percent, last going for about $1,719 per ounce. | | | • | Cryptocurrencies traded slightly higher, with Bitcoin at $19,334 at the stock market close. | | | | | | | |
| | | Buy When a Stock Has a Cloudy Outlook, Sell When the Skies are Clear | | | | This year has been challenging for investors. A slowing economy and high inflation are creating a poor outlook for markets. Yet buying during challenging moments can be a solid time to invest. That's particularly true when investors sell as soon as skies are clear.
Many companies are facing challenges right now. But companies with a long operating history of succeeding in different environments should get through today's troubles with ease… although it may take some time.
» FULL STORY | | | | |
| | Insider Trading Report: Marvell Technology (MRVL) | | | | Michael Strachan, a director at Marvell Technology (MRVL), recently picked up 6,781 shares. The buy increased his stake by over 13 percent, and came to a total cost just over $314,000.
This marks the first insider buy at the company since early 2021. Over the past three years, insider shave been regular and consistent sellers of shares, a normal trend for a big-cap tech company.
» FULL STORY | | | | |
| | Unusual Options Activity: Altimmune (ALT) | | | | Shares of biotechnology company Altimmune (ALT) are up 28 percent over the past year, but are also up nearly four-fold from their 52-week lows. One trader sees shares giving back some of their recent gains.
That's based on the October $13 put. With 42 days until expiration, 6,077 contracts traded compared to a prior open interest of 104, for a 58-fold surge in volume. The buyer of the puts paid $1.70 to get into the trade.
» FULL STORY | | | | |
| | • | ECB Hikes Rates 0.75 Percent
The European Central Bank (ECB) raised interest rates 0.75 percent yesterday. The rate now stands at 0.75 percent, as the ECB had previously raised its rates from negative levels to 0 percent. The move comes as inflation remains robust globally and as the world looks to bring down high inflation. The ECB has also hinted that future rate hikes will be likely. | | | | • | Powell: Fed Focused on Bringing Down Inflation
Federal Reserve Chairman Jerome Powell spoke at a virtual conference on Thursday, stating that the central bank remains committed to bringing down high inflation. That will avoid the dangers of the 1970s, where high rates of inflation became entrenched in the economy. | | | | • | Mortgage Rates Near 6 Percent
30-year, fixed-rate mortgages hit 5.89 percent for the week ending September 8. That's nearly double the 2.88 percent rate that mortgages were at a year ago. It's also higher than the 5.81 peak in mid-June before a small pullback. This week's rates were last seen in 2008. | | | | • | GM Looks to Launch Equinox Next Fall
General Motors (GM) is looking to launch its Equinox EV next fall. The vehicle, priced at around $30,000, is expected to increase mass adoption of EVs due to its more affordable price than current EV models. GM is currently on track to exclusively offer electric cars and trucks by 2035. | | | | • | Spotify Looks to Test Audio Books
Podcast giant Spotify (SPOT) is looking to add new features, including a trial of audiobooks. The company expects to be able to use an enhanced user interface similar to what the company currently uses for podcasts. The company also sees the launch as a way to grow the books and audiobooks market, which other tech companies in the podcast space have already embraced. | | |
| | | | TOP | | | REGN | 19.26% | | | | FCX | 7.241% | | | | MRNA | 4.403% | | | | IVZ | 4.315% | | | | CFG | 4.156% | | | | BOTTOM | | | MKC | 6.906% | | | | KHC | 3.993% | | | | CPB | 3.316% | | | | KR | 3.121% | | | | PCAR | 3.06% | | | | |
| | |  | | With equities back to June lows and the rates path reset higher, more inflation easing along with decisive EU government intervention to tackle the energy crisis could prompt another bear squeeze. Big picture, we think stocks remain in a tough spot given a poor growth-policy trade-off. | | - Emmanuel Cau, analyst at Barclays, on why the market may have a bounce higher here, but downside risks still remain to investors now. | |
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