Good morning. In any financial crisis, there's usually a bank that got overleveraged and faced..
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 33,704.10 | +0.56% | | | | S&P 3,919.25 | +0.70% | | | | NASDAQ 10,742.63 | +1.01% | | | | *As of market close | | • | Stocks rose on Tuesday, following a speech by Federal Reserve Chairman Jerome Powell. | | • | Oil rose 0.5 percent, last going for $74.99 per barrel. | | • | Gold rose 0.3 percent, ending at $1,883 per ounce. | | • | Cryptocurrencies generally rose, with bitcoin trading at $17,459 at the market close. | | | | | | | | | | Invest In Future Trends at Fearful Valuations | | | | The market selloff last year has led to a significant drop in prices for technology firms. While many of these companies have traded at high valuations in expectations of high growth, the selloff last year may have pushed a few companies with promising technologies into value territory. Investors who look at the top tech trends of the next decade can likely find some solid pockets of value today, even among large, established players. » FULL STORY | | | | | | Insider Trading Report: UMH Properties Inc (UMH) | | | | Matthew Hirsch, a director at UMH Properties Inc (UMH), recently added 1,750 shares. The buy increased his holdings by 4 percent, and came to a total cost of just under $28,000. This is one of the larger insider buys at the company over the past few months. Company directors have been small buyers of shares on a regular basis, as well as the company President and CEO. The last insider sale occurred last April. » FULL STORY | | | | | | Unusual Options Activity: Lockheed Martin (LMT) | | | | Shares of defense contractor Lockheed Martin (LMT) are up about 30 percent over the past year as traders have moved into defensive stocks. One trader sees a pullback in shares in the coming weeks. That's based on the March $410 puts. With 64 days until expiration, 5,029 contracts traded compared to a prior open interest of 160, for a 31-fold rise in volume on the trade. The buyer of the puts paid $4.90 to make the bearish bet.
» FULL STORY | | | | | | • | Online Prices Show Drop
E-commerce prices have shown a 1.6 percent decline compared to the prior year, according to data from Adobe Analytics. That's the fourth consecutive month of annual price declines. Prices have generally been in a decline, but they did show a strong bump during the Covid pandemic and amid the peak of the supply chain shortages. | | | | • | Credit Card Debt Continues to Rise
Americans continue to use their credit cards for purchases. Now, 46 percent of credit cardholders carry debt from month to month, a rise from last year's 39 percent, based on data from Bankrate. That move coincides with a drop in savings, which suggests that consumers may have to lighten up on spending later this year. | | | | • | Biden Admin to Ease Rules for Student Loan Forgiveness
The Biden Administration is working on a plan that will make it easier for student loan holders to reduce that debt based on income-driven payment plans. Earlier plans to forgive loans outright have been blocked by several courts, including a plan to cancel as much as $20,000 in debt for borrowers. | | | | • | Coinbase Looks to Cut 20 Percent of Staff
Cryptocurrency brokerage Coinbase (COIN) will lay off about 20 percent of its staff. That could amount to as many as 950 employees. The company's move is the latest among tech players, and also a sign that the losses in the cryptocurrency market may continue for some time. | | | | • | Microsoft Investing in Smart Store Analytics Service
Tech firm Microsoft (MSFT) is partnering with startup AiFi, with a goal of creating a service to allow retailers to deploy autonomous shopping cost-effectively. Dubbed Smart Store Analytics, it could allow venues such as grocery stores and sports stadiums to offer goods for sale without having to be monitored by a cashier. | | | | | | TOP | | WBD | 7.967% | | | FSLR | 6.707% | | | NUE | 6.67% | | | STE | 6.091% | | | STLD | 5.307% | | | BOTTOM | | ILMN | 7.255% | | | DISH | 6.195% | | | MOS | 4.587% | | | KIM | 3.675% | | | CF | 3.535% | | | | | | | | | With uncertainty running high, we take a more conservative posture with our estimates and believe that investors need to be selective in the group, focusing on high-quality businesses and management teams. Though the group remains sensitive to the rate environment, we believe that 2023 will be more of a stock pickers market than recent years in infrastructure and security software. | | - Joel Fishbein, analyst at Truist, on why 2023 will likely be a solid year for buying specific stocks, rather than the index as a whole. | | |
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