Good morning, and Happy New Year! In the third quarter of 2022, central banks around the world...
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 33,147.25 | -0.22% | | | | S&P 3,839.50 | -0.25% | | | | NASDAQ 10,466.48 | -0.11% | | | | *As of market close | | • | Stocks moved lower on the last day of 2022, but closed near their highs of the day. | | • | Oil jumped 2.5 percent, closing the year at $70.37 per barrel. | | • | Gold rose 0.2 percent, ending at $1,830 per ounce. | | • | Cryptocurrencies traded flat, with bitcoin trading at $16,560 at the market close. | | | | | | | | | | Wait to Buy a Turnaround Play Until There's a Sign of a Turnaround | | | | Any successful company will eventually struggle with slowing demand. Those that are successful are able to turn around a declining situation. But many "turnaround" stories are just that – stories. It's crucial for investors to be able to separate true turnarounds from talk of improvement. That's why investors should wait for trends such as improving profit margins or improved earnings before waiting to invest in such a story. » FULL STORY | | | | | | Insider Trading Report: Enterprise Products Partners (EPD) | | | | Marcy Barth, a director at Enterprise Products Partners (EPD), recently added 5,000 shares. The buy increased her stake by 6 percent, and came to a total cost of just under $120,000. The buy came as the company Co-CEO bought 25,000 shares on two separate days, paying nearly $600,000 to increase his holdings by about 15 percent. Other company insiders have been buyers in recent months, with the last insider sale occurring in March 2021. » FULL STORY | | | | | | Unusual Options Activity: MicroStrategy (MSTR) | | | | Shares of analytics software company MicroStrategy (MSTR) are down 75 percent over the past year, largely due to the company's decision to leverage up its balance sheet to buy Bitcoin. One trader sees a modest rebound in the coming weeks. That's based on the January $160 calls. With 18 days until expiration, 4,737 contracts traded compared to a prior open interest of 199, for a 24-fold rise in trading volume. The buyer of the calls paid $3.65 to make the bet.
» FULL STORY | | | | | | • | IRS Prepares For 2022 Filing Season
The Internal Revenue Service is working to improve its services before it begins accepting 2022 returns at the end of January. The agency has a goal to reduce a backlog of paper tax returns, adopting new scanning technology, and avoid delaying refunds for months as has been the case over the past few years. | | | | • | Mortgage Rates Rise After Six Week Drop
30-year, fixed-rate mortgages averaged 6.42 percent for the week ending December 29, 2022. That's an increase from 6.27 percent the prior week, and the first increase after a drop for six weeks in a row. 2022 still saw mortgage rates more than double over the course of the year, which is only just now starting to show up in lower real estate prices. | | | | • | Egg Prices Soared 49 Percent Last Year
Based on consumer price index data, egg prices rose 49 percent in 2022, the highest level of any grocery staple. The main reason for the jump was limited supply, as millions of egg-laying hens died in 2022 amid a rise in bird flu. Meanwhile, chickens for consumption were unaffected, leading to a slight decline in chicken prices. | | | | • | Southwest Nears Normal Operations Following Mass Cancellations
Southwest Airlines (LUV) started resuming normal operations on Friday, about one week after cold winter weather led to a cascade of cancelled flights. The airline was the most impacted, as crew scheduling systems were overwhelmed by the shutdown. | | | | • | Industry Analysts Torn on Crypto's Direction
Analysts are unsure about the direction of the cryptocurrency market this year. 2022 saw a 64 percent decline in total market cap for cryptocurrencies, to just $797 billion. Long-lived cryptos like Bitcoin have shown a tendency to have a large down year every 4 years, followed by a flat-ish year before moving higher. | | | | | | TOP | | TTWO | 2.131% | | | LVS | 1.657% | | | WYNN | 1.2% | | | CDAY | 1.17% | | | APA | 1.1% | | | BOTTOM | | CRL | 3.172% | | | VNO | 3.109% | | | ETSY | 2.996% | | | TROW | 2.964% | | | RXO | 2.827% | | | | | | | | | The market seemed to appreciate that the jobs report showed a modest increase in continuing unemployment claims, in line with expectations and providing a nugget of evidence that a soft landing is possible. | | - Jason Blackwell, chief investment strategist at The Colony Group, on Thursday's market rally following a jobs report that came in as expected, indicating that the labor market, while still tight, is starting to cool slightly. | | | | This Best Kept A.I. Trading Secret is Actually Free? | | | | | Not everybody knows the best kept secret of receiving artificial intelligence scanned stock alerts each week.
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