😶Oil’s Drop Sets Up Stocks for Year-End Run

Good morning. Oil prices dropped below $80 in trading before the Thanksgiving holiday, on news of...

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. Oil prices dropped below $80 in trading before the Thanksgiving holiday, on news of a higher potential output when OPEC meets in a few weeks, plus rising inventories. Lower energy prices would act as an immediate break for the costs of nearly every good, which in turn could help stocks move higher into the final weeks of the year. It's also likely that could result in a "reversion to the mean" in energy prices. The sector has been on fire this year, far outpacing the rest of the market. Traders may want to look at trimming some of their holdings in energy, especially on further evidence that oil prices may move lower or stay lower for longer. Now here's the rest of the news: Sponsored Content No. 1 Energy Play During Crisis The energy crisis doesn't look like it's going away anytime soon. But tech expert Adam O'Dell has found a little-known company that has developed new tech to access the largest energy source on Earth … a source that could produce 5X as much power as the largest oil field … in just one year. There's still time to get in early. Click here for the full story. MARKETS DOW 34,194.06 +0.28% S&P 4,027.26 +0.59% NASDAQ 11,285.32 +0.99% *As of market close • Stocks were closed on Thursday, in observance of Thanksgiving. Today's TOP TIPS This Momentum Play Can Continue to Move Higher Following Strong Earnings There are many different strategies for beating the stock market. And as long as a trader finds one that works for them and follows it consistently, things can work out well. Some traders swear by momentum, which is simply the name for the idea of buying a stock that's been trending higher. Those who combine a stock with strong momentum with another factor, like an earnings beat, can likely continue to see the share price rally. » FULL STORY Insider Trading Report: Lincoln National Corp (LNC) Deirdre Connelly, a director at Lincoln National Corp (LNC), recently bought 3,000 shares. The buy increased the director's holdings by 300 percent, and came to a total cost just over $112,000. This marks the first insider buy at the company of any sort since May 2020 during the pandemic selloff low. Otherwise, company executives and directors have been sellers of shares over the past two years. » FULL STORY Unusual Options Activity: Unilever (UL) Shares of consumer goods giant Unilever (UL) are down just 6 percent in the past year, outperforming the S&P 500 by nearly 10 percent. One trader sees shares moving higher to close out the year. That's based on the December $50 calls. With 20 days until expiration, 8,516 contracts traded compared to a prior open interest of 388, for a 22-fold rise in volume on the trade. The buyer of the calls paid $0.60 to make the bet. » FULL STORY IN OTHER NEWS • New Home Sales Rose in October New home sales rose at 7.5 percent in October compared to September, based on seasonally-adjusted data. The total number of new homes sold hit 632,000, up from 588,000 in the past month. That's much stronger than expectations for a further drop to 572,000. • Mortgage Demand Rises as Rates Drop Mortgage demand rose by 2.2 percent in the past week, as 30-year fixed rates decreased to under 6.7 percent. That's a notable decline from over 7 percent at their peak, and 6.9 percent last week. Compared to a year ago, mortgage applications are still down 41 percent. • Weekly Job Claims Creep Up First-time claims for unemployment rose to 240,000 last week. That's a rise of 17,000 compared to the prior week, and came in well above expectations for 225,000. This marks the highest weekly level since August. Continuing claims have hit an eight-month high. • Credit Suisse Warms of $1.6 Billion Loss TSwiss bank Credit Suisse (CS) has warned that it will lose around $1.6 billion this quarter, as customers have pulled investments from the bank. The withdrawals have occurred amid rumors that the bank's financial health is stressed. Overall, the bank reports that outflows are about 6 percent of their total assets. • Meta's VR Under Antitrust Review in Germany The Federal Cartel Office, the German regulatory agency, continues to probe the VR offerings from Meta Platforms (META). The agency has already won a concession, as the company has untied its VR headsets from social accounts. However, the FCO still sees the potential for a monopoly. S&P 500 MOVERS TOP TSLA 7.704% BMRN 7.228% DE 5.157% WBD 5% TFX 3.959% BOTTOM ADSK 6.62% SLB 3.943% CF 2.69% BKR 2.526% HES 2.431% Quote of the Day Investor psychology remaining optimistic is driving the rally in this market. Going into the next Fed meeting, I think the Fed will probably moderate their language a little bit, and I think investors want to remain optimistic, and ignore a lot of headwinds in this market. - Eugene Profit, CEO at Profit Investments, on why traders are starting to bet on a modest year-end rally, as sentiment is improving and amid an increased expectation that the Fed will start to moderate its tone ahead of a slower pace of interest rate hikes in the months ahead. Sponsored Content No. 1 Energy Play During Crisis The energy crisis doesn't look like it's going away anytime soon. But tech expert Adam O'Dell has found a little-known company that has developed new tech to access the largest energy source on Earth … a source that could produce 5X as much power as the largest oil field … in just one year. There's still time to get in early. Click here for the full story. Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income We just wanted to take a moment and say thank you so much for being part of our family! We are dedicated to teaching people how to make the world a better place so we can all thrive, together. We love sharing stories and featuring past learners who have applied our teachings and changed their situations. 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