Good morning. There's a lot of economic data coming out this week. The most important pieces...
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 34,005.04 | +1.58% | | | | | S&P 3,990.56 | +1.43% | | | | | NASDAQ 11,143.74 | +1.26% | | | | | *As of market close | | | • | Stocks traded higher on Monday, ahead of a data-heavy week. | | | • | Oil rose 3.5 percent, closing at $73.50 per barrel. | | | • | Gold dropped 1.0 percent, hitting $1,792 per ounce. | | | • | Cryptocurrencies traded mixed, with Bitcoin going for $17,139 at the market close. | | | | | | | |
| | | To Thrive in Volatile Markets, Look for Recession-Resistant Businesses | | | | Investors tend to spend bull markets looking for opportunities in high-growth areas. But the economy isn't always moving at full blast. For slower times, it may be prudent to focus on businesses that aren't as cyclical, opting instead for companies more likely to be recession resistant.
There are many sectors that fit the bill. Some are heavily regulated like utilities and telecoms. Others are more open, such as consumer goods.
» FULL STORY | | | | |
| | Insider Trading Report: Paramount Group (PGRE) | | | | Albert Behler, President and CEO at Paramount Group (PGRE), recently added 50,000 shares. The buy increased his stake by 38 percent, an came to a total cost just under $288,000.
He was joined by a director who bought 20,000 shares on the same day, paying just over $114,000. These two buys constitute the only insider trades since late 2020. The last insider sale at the company occurred back in 2019.
» FULL STORY | | | | |
| | Unusual Options Activity: Microsoft (MSFT) | | | | Shares of tech giant Microsoft (MSFT) have underperformed the market this year, with a 27 percent drop. One trader sees a rebound in the next month.
That's based on the January $265 calls. With 31 days until expiration, 4,094 contracts traded compared to a prior open interest of 191, for a 21-fold rise in volume on the trade. The buyer of the calls paid $2.93 to get in.
» FULL STORY | | | | |
| | • | Investors See Slowing Growth as Bigger Concern than Inflation
For over a year now, investors have generally been more concerned with inflation than any other issue. With inflation starting to come down on a year-over-year basis, however, the biggest concern among investors today is slowing economic growth. | | | | • | Holiday Budgets Look Smaller This Year
Families are looking at smaller budgets for holiday spending this year. That's based on an analysis of savings, with Americans having 47 percent fewer savings compared to the same month a year ago. As a result, 42 percent of Americans are looking to spend less compared to a year ago, with only 8 percent likely to spend more.. | | | | • | Retirees Cut Back Amid High Inflation
Retirees are cutting back on spending amid current high inflation. While Social Security has made its largest increase in decades, retirees are starting to cut back on travel and other plans following soaring prices. Meanwhile, Fidelity reports that retirement account balances are down an average of 25 percent year-over-year for the third quarter. | | | | • | Microsoft Takes Stake in London Stock Exchange
Tech giant Microsoft (MSFT) has acquired a 4 percent stake in the London Stock Exchange. Microsoft will provide the company with a 10-year partnership, including a minimum of $2.8 billion spending on cloud computing services. The LSE also owns a number of other financial data companies. | | | | • | Rivian Pauses EV Van Manufacturing Plan
Commercial EV van company Rivian (RIVN) has announced that it is pausing its plans to manufacture electric commercial vans in Europe. The company had a partnership with Mercedes-Benz for manufacturing the vehicles, which will no longer be pursued. | | |
| | | | TOP | | | VLO | 5.225% | | | | JBHT | 5.121% | | | | APA | 5.017% | | | | AAL | 4.915% | | | | EXPD | 4.884% | | | | BOTTOM | | | MRNA | 7.009% | | | | TSLA | 6.155% | | | | CRL | 3.916% | | | | LH | 2.543% | | | | RXO | 1.942% | | | | |
| | |  | | It's our expectation that we really need to see inflation come down closer to the fed funds rate for the Fed to pause, and we still have quite a bit of delta between those numbers. There's still a bit of work to be done on the inflation front to really see that as the reality. | | - Stephanie Lang, chief investment officer at Homrich Berg on the disconnect between current interest rates an inflation rates, which still show that real yields are negative, a trend that needs to stop before the Fed can likely stop raising interest rates. | |
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