😩Who Needs a Debt Ceiling Anyway?

Good morning. A group of 43 Democrats have introduced a bill in the House of Representatives...

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.

Good morning. A group of 43 Democrats have introduced a bill in the House of Representatives. Dubbed "The End the Threat of Default Act," it would eliminate the debt ceiling entirely. That would end any future negotiations between whoever is in power in Washington. Given how power has shifted in Washington over the decades as the deficit has grown to over $31 trillion, the debt ceiling has largely come down to quibbling over how much the size of government will increase, not whether or not it should. Traders should expect a resolution to the current debt ceiling deadlock shortly, and for overall government spending to rise – and with it other asset classes too. Now here's the rest of the news: Sponsored Content IRA/401(k) ALERT: Secret IRS Loophole May Change Your Life The savings of regular working class Americans could be in serious trouble. But there IS something you could do… If you're concerned (and you should be) don't wait around for something to happen — you can do something NOW. Request a copy of this FREE GUIDE that explains exactly why THOUSANDS have used this IRS Loophole to possibly save their IRA/401(k). Act now! It only takes seconds. The next step is yours, and it could mean a future of wealth… or poverty. It's up to you. All you have to do is request the free guide now. MARKETS DOW 33,733.96 +0.31% S&P 4,016.95 -0.07% NASDAQ 11,334.27 -0.27% *As of market close • Markets traded mixed on Tuesday, following several days of gains. • Oil slid 1.9 percent, closing at $80.10 per barrel. • Gold rose 0.5 percent, going for $1,939 per ounce. • Cryptocurrencies traded mixed, with Bitcoin at $23,017 at the market close. Today's TOP TIPS Buy Market Bargains Ahead of a Turnaround Investors pay a high price for certainty. By the time they pile into a "sure thing" investment, the price is already sky high. Meanwhile, when there's a lot of fear in the market, great companies and opportunities can be had for a relative bargain. Today, investors have far more bargain picks than at any time in the past few years. And buying companies moving to streamline costs today will play out doubly well from higher profits and higher share prices. » FULL STORY Insider Trading Report: JPMorgan Chase (JPM) Mellody Hobson, a director at JPMorgan Chase (JPM), recently added 375 shares. The purchase cost the director $50,448, and increased her stake by less than 1 percent. Hobson was the last buyer of shares at the company one year prior, with a 670 shares pickup for just over $100,000. In the past year, company insiders have largely been sellers of shares, both from existing holdings and from the exercise of options. » FULL STORY Unusual Options Activity: Starbucks (SBUX) Shares of coffee chain Starbucks (SBUX) have bucked the market downtrend with a 7 percent gain over the past year. One trader sees that trend continuing in the coming months. That's based on the April $115 calls. With 85 days until expiration, 121,998 contracts traded compared to a prior open interest of 2,448, for a 50-fold jump in volume on the trade. The buyer of the calls paid $2.11 to make the bullish bet. » FULL STORY IN OTHER NEWS • Youth and Minority Workers See Biggest Wage Increases Median weekly earnings rose by 7.4 percent in 2022, according to data from the Labor Department. The biggest increases came from young workers and African Americans, according to statistical data. The increase came in higher than the most recent inflation rate of 7.1 percent for the fourth quarter of 2022. • Disney Executive Pocketed Six Figures Per Day Former Walt Disney Company (DIS) chief corporate affairs officer Geoff Morrell earned about $8.3 million, or $150,000 per day, during his time in the role. He started on January 24, 2022, and departed in late April, according to data from his pay package. • Citadel Reports Largest Profit by Hedge Fund Ever Hedge fund Citadel saw over $16 billion in profits after fees for 2022. That's the largest gain ever for a hedge fund manager, topping the $15 billion made by John Paulson shorting the housing market in 2007. The fund was able to profit form its trading and quant operations. • Amazon Expands Air Cargo Service in India Amazon (AMZN) is expanding a cargo service in India, as part of a broader expansion of the company's in-house logistics. The company is starting with two 737-800 aircraft to ship packages between major cities in India. The move comes as Amazon has been looking to cut costs elsewhere. • Musk States Tesla Buyout Offer Was Serious Elon Musk stated that his 2018 tweet about taking Tesla Motors (TSLA) private at $420 per share was a serious offer. The billionaire testified in court that he was prepared to sell shares of privately-held SpaceX to make the deal happen. S&P 500 MOVERS TOP PCAR  8.719% TRV  3.633% RTX 3.231% LUMN 3.107% TAP 2.835% BOTTOM MMM 6.104% CTLT 5.648% BRO 5.536% EPAM 4.546% XRAY 4.29% Quote of the Day Bulls are running with the near-term momentum, the 'soft landing' narrative, and it's hard to argue with recent price action. On the other hand, long term trends are still somewhat bearish, and we are always skeptical of such a widely watched 'breakout', especially after big run. - Jonathan Krinsky, BTIG's chief market technician, on the market's recent rally, and why stocks may start to trend back down, following the longer-term downtrend. Sponsored Content IRA/401(k) ALERT: Secret IRS Loophole May Change Your Life The savings of regular working class Americans could be in serious trouble. But there IS something you could do… If you're concerned (and you should be) don't wait around for something to happen — you can do something NOW. Request a copy of this FREE GUIDE that explains exactly why THOUSANDS have used this IRS Loophole to possibly save their IRA/401(k). Act now! It only takes seconds. The next step is yours, and it could mean a future of wealth… or poverty. It's up to you. All you have to do is request the free guide now. Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income We just wanted to take a moment and say thank you so much for being part of our family! 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