Good morning. Investors have started the year looking for reasons for the market to head higher...
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 34,302.61 | +0.33% | | | | S&P 3,999.09 | +0.40% | | | | NASDAQ 11,079.16 | +0.71% | | | | *As of market close | | • | Markets were closed Monday, in honor of Martin Luther King Jr. Day. | | | | | | | | | | | In Bear Markets, Follow Investors Looking to Unlock Value Now | | | | While stocks have had a strong start to the year, corporate earnings show a slowdown. And interest rates are still on track to rise. Investors should generally be cautious about long-side ideas right now. One way to find the best opportunities is to look at where big-name players are going. Besides making large purchases of shares, which can help the price rise, some companies may attract interest from activist investors. These investors can help management make more profitable decisions. » FULL STORY | | | | | | Insider Trading Report: Rent-A-Center (RCII) | | | | Jeffrey Brown, a director at Rent-A-Center (RCII), recently bought 1,084 shares. The buy increased his holdings by just over 1 percent, and came to a total cost of $26,233. The director has been a quarterly buyer of shares going back to 2021. Other company insiders have been slight buyers, with a CEO buy of 40,000 shares for $1.08 million last March. The last insider sale occurred in December 2021. » FULL STORY | | | | | | Unusual Options Activity: Sabre Corporation (SABR) | | | | Shares of travel services company Sabre Corporation (SABR) have shed about one-third of their price over the past year. One trader sees shares trending lower in the first half of this year. That's based on the July $7.00 put. With 184 days until expiration, 42,714 contracts traded compared to a prior open interest of 110, for a 388-fold jump in volume on the trade. The buyer of the puts paid $1.22 to make the bearish bet.
» FULL STORY | | | | | | • | US to Hit Debt Limit Thursday
The US is on track to hit its statutory debt limit on Thursday, unless that limit is either suspended or increased. The Treasury Department has announced that it will start taking extraordinary measures to avoid defaulting on its obligations, which could allow funding through June. | | | | • | IMF Warns on Shrinking Global Output
The International Monetary Fund has warned that declining international cooperation is leading to lower levels of commerce. In total, this could lead to a decline in the global economy, with lower-income countries more dependent on exports being hit harder, especially with rising restrictions on trade. | | | | • | Wealthiest Captured Bulk of Global Gains
The wealthiest 1 percent have captured about twice as much of the newly created wealth of the past two years compared to the rest of the world. The 1 percent saw their net worth rise by $26 trillion, while the bottom 99 percent globally saw a collective $16 trillion rise. | | | | • | Tesla Loses Market Share
Thanks to rising competition, Tesla Motors (TSLA) lost market share in the electric vehicle market. Overall, EV sales rose 66 percent for 2022 compared to the prior year. While Tesla was still the leader for overall EV sales, rising sales from other automakers contributed to the loss of market share. | | | | • | Norton LifeLock Reports Data Breach
Gen Digital (GEN), the parent company of Norton LifeLock, has reported a data breach impacting thousands of customers. The company reports the reason behind the breach was based on a credential stuffing attack rather than a system compromise. The data breach potentially allows criminals access to customer password managers. | | | | | | TOP | | MELI | 5.798% | | | NTES | 3.811% | | | ILMN | 3.603% | | | WFC | 3.409% | | | EXPE | 2.968% | | | BOTTOM | | F | 5.398% | | | GM | 5.114% | | | DAL | 3.573% | | | DISH | 3.553% | | | GD | 3.434% | | | | | | | | | Inflation expectations are well-anchored and improving as pricing pressures are weakening across many sectors. The Fed will likely hike by 0.25% at the upcoming meeting later this month. We shouldn't be surprised if the Fed starts talking about pausing in the near future. | | - Jeffrey Roach, LPL Financial chief economist, on why inflation may continue drop in the months ahead, which will allow the Fed to slow its rate hikes even further before pausing them entirely later this year. | | |
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