| | | | DOW 33,826.69 | +0.39% | | | | S&P 4,079.09 | -0.28% | | | | NASDAQ 11,787.27 | -0.58% | | | | *As of market close | | • | Markets traded mixed on Friday, and overall ended the week lower. | | • | Oil slid 2.8 percent, closing at $76.27 per barrel. | | • | Gold traded flat, at $1,852 per ounce. | | • | Cryptocurrencies moved slightly higher, with Bitcoin at $24,779 at the market close. | | | | | | | | | | This Sector Remains in the Buy Range for Patient Investors | | | | Stocks and sectors tend to ebb and flow. The unusual economy of the past few years has caused some sectors to get overly bullish, and now with the market pullback over the past year, overly pessimistic. That's creating some reasonable values for long-term investors, particularly those who are patient waiting for growth trends to play out. That's especially true with many tech stocks, which got hit hard in last year's market selloff. » FULL STORY | | | | | | Insider Trading Report: Blackstone (BX) | | | | Ruth Porat, a director at Blackstone (BX), recently bought 336 shares. The buy increased her stake by 1 percent, and came to a total cost just over $32,300. The director was also the most recent buyer of shares with a 20,000 share buy in December, shelling out just over $1.67 million. One company director exercised options since, and one company insider sold some shares earlier this month, but generally insiders haven't been too active at the company. » FULL STORY | | | | | | Unusual Options Activity: Gilead Sciences (GILD) | | | | Shares of biopharmaceutical company Gilead Sciences (GILD) have rallied about 37 percent in the past year. One trader sees a pullback for shares in the weeks ahead. That's based on the March $86.50 puts. With 25 days until expiration, 6,508 contracts traded compared to a prior open interest of 236, for a 27-fold rise in volume on the trade. The buyer of the puts paid about $5.00 to make the bearish bet.
» FULL STORY | | | | | | • | Household Debt Hits Record High
U.S. household debt hit $16.9 trillion in the final quarter of 2022. That's a 2.4 percent increase from the prior quarter, or a rise of about $394 billion. The increase was driven by a rise in credit card balances, which rose 6.6 percent to $986 billion, the highest rate since 1999 when the data first started being tracked. | | | | • | SEC Charges Terra Founder with Fraud
The Securities and Exchange Commission is charging Do Kwon, CEO of Terraform Labs, with securities fraud. The charges are based on the stablecoin Terra USD, which is supposed to be pegged to the value of the dollar. However, the coin's algorithmic structure led to a collapse last May. | | | | • | Chinese Securities Regulator Unveils Overseas Listing Rules
China's security regulator is releasing rules on international listings. The move comes following a crackdown on international listings of Chinese companies over the past few years, and amid moves to shift the country back to economic growth following the pandemic. | | | | • | FAA Looks to Fine SpaceX
The Federal Aviation Administration is looking to fine SpaceX $175,000, as the company failed to submit flight data before a launch of its Falcon 9 rocket last year. The data includes a launch collision analysis and trajectory data, which is required to be submitted at least seven days in advance. | | | | • | Dronamics Raises $40 Million in Series A Funding
Deonamics, a startup company developing autonomous cargo airline drones, has raised $40 million in Series A funding. The Bulgarian-based company has already acquired a license to operate in Europe, and has a flagship model capable of carrying up to 770 pounds of cargo as far as 1,550 miles. | | | | | | TOP | | DE | 7.43% | | | BIO | 6.451% | | | OGN | 4.142% | | | GEHC | 3.243% | | | TSLA | 2.931% | | | BOTTOM | | ALB | 10.29% | | | HAL | 5.288% | | | BKR | 5.238% | | | HES | 5.231% | | | EOG | 5.146% | | | | | | | | | What I think the equity market is not pricing in at this point, or is not worried enough about, is that the consumer spending at some point. Savings run dry, and wage growth is falling, and it can't support that level of spending going forward. Debt is piling up. | | - Liz Young, head of investment strategy at SoFi, on why the stock market may start to trend down amid rising signs that consumers are exhausting their savings. | | | | 3 Secrets To Consistent Trading Success | | | | | Have you experienced the benefits of trading with artificial intelligence yet? What are you waiting for?
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