| | | | DOW 33,220.80 | +1.05% | | | | S&P 3,849.28 | +1.75% | | | | NASDAQ 10,478.09 | +2.59% | | | | *As of market close | | • | Stocks jumped on Thursday, ahead of the final trading day of the year. | | • | Oil sank 0.6 percent, last going for $78.51 per barrel. | | • | Gold rose 0.3 percent, ending at $1,822 per ounce. | | • | Cryptocurrencies generally declined, with bitcoin trading at $16,597 at the market close. | | | | | | | | | | For Market-Beating Long-Term Results, Follow the Big Money | | | | It's no surprise that when it comes to investing, larger players can have some advantages. One advantage smaller investors have, however, is the ability to see what the big players are doing and follow along. In a bear market, they may even get a better deal. By following investors with a strong track record, it's possible to beat the market over time. And to do so with less volatility than other market strategies. » FULL STORY | | | | | | Insider Trading Report: Greif (GEF) | | | | Lawrence Hilsheimer, CFO at Greif (GEF), recently added 4,050 shares. The buy increased his holdings by 2 percent, and came to a total cost of just under $320,000. The CFO last bought shares a week ago, picking up 2,180 shares for just over $167,000. Looking further back, a major owner has been a sizeable seller of shares over the past year, and company executives have been overall slight buyers. » FULL STORY | | | | | | Unusual Options Activity: Apple (AAPL) | | | | Shares of consumer tech giant Apple (AAPL) hit a new 52-week low this week. One trader sees shares rebounding in the coming weeks. That's based on the January 20 $127 calls. With 21 days until expiration, 10,526 contracts traded compared to the prior open interest of 253, for a 42-fold jump in volume on the trade. The buyer of the calls paid $4.78 to make the trade.
» FULL STORY | | | | | | • | Jobless Claims Continue to Rise
First-time unemployment claims rose to 225,000 for the week ending December 24th, according to the Labor Department. That's an increase of 9,000 from the prior week, and is in-line with economist expectations. The new claims level is about on par with pre-pandemic levels, and has been fairly steady overall. | | | | • | Copper Prices Likely to Drop in 2023
The past year has seen some big moves in the copper market, but now many experts expect demand to drop and supplies to stay the same. That could result in a 20 percent drop over the next year. Typically, copper prices can be used as an indicator for economic growth or contraction, given its high demand in areas such as construction and technology. | | | | • | Apple iPhone Production Increases in China
The Foxconn facility in China responsible for production of Apple's (AAPL) iPhones is back to about 70 percent of capacity. The facility has been hit by a rise in Covid-19 cases in China. The facility started to slow in October amid a rise in Covid cases. | | | | • | VanEck to Phase Out Russia ETFs
Financial services provider VanEck is phasing out its two Russian-themed ETFs. The fund has been unable to buy, sell, or otherwise change its portfolio of Russian securities. The inability to trade has created a number of liquidity concerns, so VanEck is looking to wind down the EFTs. | | | | • | Alibaba Looks to Restructure Cloud Services
Chinese tech giant Alibaba (BABA) owns the world's third-largest public cloud infrastructure. The company's CEO is moving to oversee the company's cloud services division, as the company begins its annual reshuffle of top executives. The idea behind the annual shuffle is to ensure that the company stays agile. | | | | | | TOP | | RXO | 8.824% | | | SIVB | 8.367% | | | TSLA | 7.87% | | | WBD | 6.273% | | | VFC | 6.071% | | | BOTTOM | | CAH | 1.196% | | | STLD | 1.175% | | | CF | 1.066% | | | ABC | 0.831% | | | MCK | 0.747% | | | | | | | | | There are clear signs that the economy is slowing, as demonstrated by pending home sales falling to the second lowest level on record. Home sales are historically a good driver of economic activity as a new home sale supports many industries. At the same time rates continue to edge up as the Fed still signals a hawkish stance. In short, investors are hoping for the proverbial soft landing but challenges persist. | | - Brian Levitt, global market strategist at Invesco, on why the economy continues to show signs of slowing down, which could also impact the stock market into 2023. | | |
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