Good morning. This Thursday will bring the latest consumer price index (CPI) data. While the...
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 29,202.88 | -0.32% | | | | | S&P 3,612.39 | -0.75% | | | | | NASDAQ 10,542.10 | -1.04% | | | | | *As of market close | | | • | Markets moved lower on Monday, following rising warnings of a recession. | | | • | Oil dropped 1.9 percent, closing at $90.88 per barrel. | | | • | Gold dropped 2.0 percent, last going for about $1,675 per ounce. | | | • | Cryptocurrencies traded lower, with Bitcoin at $19,224 at the stock market close. | | | | | | | |
| | | Look For Mispriced Opportunities in Bear Markets | | | | A bear market wreaks havoc on corporate valuations. Increased uncertainty can cut back on potential deals, and cause companies with a variety of disparate divisions to become priced out of expectation with its potential value.
Investors who look for these opportunities and exercise patience can get in on a great company at a good price. It's a potentially classic case of being able to buy dollar bills for just fifty cents.
» FULL STORY | | | | |
| | Insider Trading Report: TD Synnex Corp (SNX) | | | | Matthew Miau, a director at TD Synnex Corp (SNX), recently added 4,997,878 shares. The buy increased his stake by 105 percent, and came to a total cost of just under $439 million.
This marks the first insider buy at the company since the spring of 2020. Otherwise, company executives and directors have been sellers of shares over the past two and a half years. Insider selling has occurred on a regular and steady basis, as is common with tech companies.
» FULL STORY | | | | |
| | Unusual Options Activity: Western Digital Corporation (WDC) | | | | Shares of hard drive manufacturer Western Digital Corporation (WDC) are down 35 percent in the past year as PC sales have started to slow. One trader sees a potential recovery ahead.
That's based on the June 2023 $45 calls. With 248 days until expiration, 7,002 contracts traded compared to a prior open interest of 105, for a 67-fold rise in volume on the trade. The buyer of the calls paid $3.38 to make the bet.
» FULL STORY | | | | |
| | • | Online Holiday Sales Growth Expected to Slow
While the past few years has seen a large uptick in online shopping for the holidays, that rate of growth is expected to slow this year. Adobe (ADBE) expects just a 2.5 percent increase this year, a significant slowdown from 8.6 percent growth last year. That would lead to a mere $209.7 billion in sales. | | | | • | Siegel Warns on Recession
Wharton professor Jeremey Siegel has warned that the Fed is raising interest rates too quickly, which could lead to a recession. He views that as a bigger problem for the economy than inflation itself, and that the Fed should be near the end of its rate hike cycle, as inflation is likely to come down from here. | | | | • | Paul Tudor Jones States We're Near or In a Recession
Billionaire hedge fund operator Paul Tudor Jones believes the US economy is already in a recession, or at the very least is near one. That's based on the significant decline in economic activity this year. Jones notes that most recessions last about 300 days from their commencement, which suggests that stocks have more room to vall. | | | | • | Amazon to Invest $970 Million For European Electric Fleet
Amazon (AMZN) reports that it will spend about $970 million on electric vehicles for its European fleet. The company already operates 3,000 EVs in the market, and expects to have at least 10,000 operating by 2025. The move is part of a larger goal of having net-zero carbon emissions by 2040. | | | | • | Fundrise Expands into Venture Capital
Fundrise, the platform that allows users to invest in real estate with just $10, is expanding into the venture capital market. The company is raising a $1 billion growth-equity fund. The fund will be evergreen, as opposed to traditional VC models with tend to have an end date in mine. | | |
| | | | TOP | | | WBA | 4.325% | | | | MRNA | 3.436% | | | | MKC | 3.295% | | | | MRK | 3.288% | | | | MOS | 3.192% | | | | BOTTOM | | | WYNN | 12.245% | | | | BIO | 8.388% | | | | NCLH | 7.674% | | | | LVS | 7.553% | | | | F | 6.885% | | | | |
| | |  | | While the data was about as expected, the drop in the unemployment rate is seemingly what the markets are obsessed with because of what it means for the Fed. When combined with the low level of initial jobless claims, the pace of firing's remains muted and this of course gets the Fed all fired up about continuing with its aggressive rate hikes. | | - Peter Boockvar, Bleakley Financial chief investment officer, on the market reaction to Friday's jobs report, even as it showed an overall slowdown in hiring compared to the prior month. | |
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