😶Stocks Stage a Rebound to Start the Quarter – Here’s Why It Won’t Last Long

Good morning. Monday's rally got the final quarter of the year going on a strong note. However,...

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.

Good morning. Monday's rally got the final quarter of the year going on a strong note. However, the current economic backdrop remains poor. It's also a busy week with a lot of data, including industrial production data and employment – either of which could cause the market to resume its pessimism. Also this week, a number of Fed officials have speaking engagements. They'll likely remind markets that they're committed to getting inflation down. The only way to do that is to slow the economy, and by raising unemployment. In short, markets are rallying off of oversold levels. But there's likely more downside ahead. Stay cautious, and look for more trading opportunities both long and short in the coming weeks. Now here's the rest of the news: Sponsored Content Don't Miss These A.I. Scanned Stocks! Hey Trader, Where's the nearest gas station? What's the shortest route to Disney World? Who doesn't use Google Maps...!!!?? 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MARKETS DOW 29,490.89 +2.66% S&P 3,678.43 +2.59% NASDAQ 10,815.43 +2.27% *As of market close • Markets soared on Monday, starting the final quarter of the year on a strong note. • Oil rose 4.9 percent, closing at $83.35 per barrel. • Gold jumped 2.2 percent, last going for about $1,708 per ounce. • Cryptocurrencies generally rose, with Bitcoin at $19,541 at the stock market close. Today's TOP TIPS Buy The World's Best Brands at Multi-Year Lows The economy is slowing. But it's not ending. While some companies may have liquidity issues or lose market share in the coming months from a slowdown, great companies will build on their success to thrive in the next bull market ahead. Investors looking to go long today should consider industry-leading companies that have leading brands. These companies tend to get better pricing, and therefore better protection from inflation. And they tend to have higher profit margins. » FULL STORY Insider Trading Report: Universal Insurance Holdings (UVE) Joel Wilentz, a director at Universal Insurance Holdings (UVE), recently picked up 3,200 shares. The buy increased his holdings by 1.3 percent, and came to a total cost just under $30,000. He was joined by another director who bought 2,500 shares on the same day, paying just under $24,000. That director increased his holdings by 18 percent. Over the past three years, insider buys have been far greater than insider sales, but most of those buys occurred 2-3 years ago. » FULL STORY Unusual Options Activity: United Airlines Holdings (UAL) Shares of United Airlines Holdings (UAL) have declined 36 percent in the past year amid a dropping market and higher energy costs. One trader sees further downside ahead. That's based on the January 2025 $20 puts. With 836 days until expiration, 16,154 contracts traded compared to a prior open interest of 171, for a 94-fold rise in volume on the trade. The buyer of the puts paid $3.11 to make the bearish bet. » FULL STORY IN OTHER NEWS • British Pound Rises as UK Pivots Away from Tax Cuts The British Pound rose yesterday, following news that the new government would scrap plans to cut taxes on the country's highest earners. The proposal for the package sent the pound down to $1.03, a record low, but it has since recovered to about $1.12. • Credit Suisse Drops on Solvency Fears Shares of Credit Suisse Group (CS) dropped to a record low on Monday. The bank has been at the center of a number of scandals and regulatory filings, and a letter from the company CEO on the bank's financial health has scared investors ahead of the bank's proposed restructuring plan. • Homebuilders Offer Bulk Discounts In another sign of a slowing housing market, homebuilders are looking to sell their homes at a discount for bulk buyers. The move comes as mortgage rates have soared to a 15-year high, pricing many potential buyers out of the market, and allowing large institutions to come in and take advantage of today's hot rental market. • GM Sees Sales Soar 24% General Motors (GM) reports that it has sold 555,580 vehicles in the third quarter of the year. that's a 24 percent increase from the 447,000 sold in the same quarter last year. The company is reporting that supply chain problems are less of a concern compared to last year. GM expects to increase production for 2023. • Kim Kardashian Settles SEC Charges for $1.26 Million Kim Kardashian has settled a claim by the SEC for $1.26 million. The SEC states that the celebrity was in violation of its rules by promoting a crypto asset security without the disclosure that she was being padi to promote it. The claim amount is for her $250,000 payment, $10,000 in interest, and a $1,000,000 penalty. S&P 500 MOVERS TOP MRO  10.873% DVN  9.13% APA 9.104% FANG 8.061% COP 7.866% BOTTOM TSLA 8.079% TWTR 2.361% CCL 1.992% ILMN 1.504% DRI 1.124% Quote of the Day It's been a tough, tough environment for equities and fixed income both, something that we had expected given our views around the Fed keeping interest rates higher for longer and markets are starting to come around to that view. In the near term, we are likely to have continued market volatility with a downward bias as we head into earnings season. - Zachary Hill, head of portfolio management at Horizon Investments, on why the market is trending down amid the backdrop of higher interest rates, and why that trend will likely continue in the coming weeks with the latest earnings season showing a slowdown. Sponsored Content What Do you Look at While You Enter and Exit Trades? Hi Trader, There's a lot of skittish action going on in the markets. It's extremely easy to let your analysis fall to the wayside as you navigate announcements from the Feds, on top of the crushing economic headlines. Analysis should be your top priority, but have you ever thought to let powerful and precise machines help you? Volatility can either delight you or crush you, so it's crucial to be able to gauge future price movements now more than ever. 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