| | | | DOW 33,241.56 | +0.11% | | | | S&P 3,829.26 | -0.40% | | | | NASDAQ 10,353.23 | -1.38% | | | | *As of market close | | • | Stocks traded mixed on Tuesday, kicking off the last week of the year. | | • | Oil rose 0.1 percent, last going for $79.63 per barrel. | | • | Gold rallied 1.0 percent, ending at $1,821 per ounce. | | • | Cryptocurrencies generally declined, with bitcoin trading at $16,678 at the market close. | | | | | | | | | | This Player's Entry into the Streaming Wars Could Lead to Increased Profitability | | | | For years, Netflix (NFLX) dominated the streaming space. That allowed the company to grow quickly, and gain a massive market cap relative to its earnings. But competitors from across the media spectrum have come in with their own services. One of the early streaming players hasn't been seen as a competitor to the media streamers. But that appears to be changing, and this company may end up becoming a surprising winner in this space thanks to more visibility and even profitability. » FULL STORY | | | | | | Insider Trading Report: Amplify Energy Corporation (AMPY) | | | | Christopher Hamm, a director at Amplify Energy Corporation (AMPY), recently bought 17,000 shares. The buy increased his holdings by 29 percent, and came to a total cost of just over $130,000. This marks the first insider activity since August 2021, when two directors bought 10,000 and 15,000 shares respectively, at a price just under half of where shares trade today. The last insider sales also occurred in 2021. » FULL STORY | | | | | | Unusual Options Activity: Pan American Silver Corp (PAAS) | | | | Shares of silver mining company Pan American Silver Corp (PAAS) have shed one-third of their value over the past year. One trader sees the stock moving higher in the next few weeks. That's based on the February $20 calls. With 51 days until expiration, 5,297 contracts traded compared to a prior open interest of 135, for a 39-fold increase in volume on the trade. The buyer of the calls paid $0.38 to bet on a rally.
» FULL STORY | | | | | | • | Retail Sales Rose This Holiday Season
Early data from credit card company Mastercard (MA) indicates that retail sales grew by nearly 8 percent this holiday season, up from prior expectations of a 7.1 percent increase. However, adjusted for inflation, that's only a small rise in consumer spending overall. | | | | • | Home Prices Drop for Fourth Straight Month
Home prices dropped in October, for the fourth straight month on record. Rising mortgage rates were the big cause for the decline. Overall, home prices fell 0.5 percent compared to September's average. Home prices are a key gauge for inflation, although it can be the most complicated to measure. | | | | • | China Scraps Quarantine for Inbound Travelers
China will drop its quarantine requirements for international travelers starting on January 8. Travelers will be required to show a negative Covid test with 48 hours of their departure, rather than face five days of hotel quarantine and three days of at-home self-isolation. | | | | • | Southwest Sees More Flight Cancellations Ahead
Severe winter weather has led to the cancellation of thousands of flights. Southwest Airlines (LUV) has fared the worst, with 70 percent of its scheduled flights being cancelled. The company is also drawing scrutiny from the Department of Transportation over its higher rate of cancellations and delays. | | | | • | EV Companies on Track for Strong 2023
Despite a slowing economy, a record number of EV makes and models are on track for production in 2023. And EVs build in North America will qualify for a $7,500 tax credit under the Inflation Reduction Act. Expectations are also on the rise for a growing pre-owned EV market as new models come into production. | | | | | | TOP | | WYNN | 4.526% | | | TCOM | 4.354% | | | JD | 4.323% | | | BIDU | 4.166% | | | VFC | 3.816% | | | BOTTOM | | TSLA | 9.813% | | | MRNA | 8.981% | | | NVDA | 6.695% | | | LUV | 6.47% | | | ENPH | 6.123% | | | | | | | | | [The] question of what kind of recession remains unanswered. And for this, the answer is dictated primarily from how much more the Fed needs to raise rates to finally tackle sticky inflation. | | - Quincy Krosby, chief global strategist at LPL Financial, on why the market is pricing in a recession for 2023, but why it may wildly vary depending on how quickly inflation can be brought down. | | |
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