Good morning. No matter what the financial asset, there are two words that can explain what...
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 34,092.96 | +0.02% | | | | | S&P 4,119.21 | +1.05% | | | | | NASDAQ 11,816.32 | +2.00% | | | | | *As of market close | | | • | Markets closed higher on Wednesday, following a quarter-point rate hike by the Fed. | | | • | Oil dipped 2.6 percent, closing at $76.84 per barrel. | | | • | Gold jumped 1.1 percent, going for $1,966 per ounce. | | | • | Cryptocurrencies moved higher, with Bitcoin at $23,583 at the market close. | | | | | | | |
| | | It's All About Passing on Higher Costs to Customers | | | | Wealthy investors tend to see inflation as a friend, not an enemy. Rising prices tend to benefit assets like stocks and real estate over time.
Owning companies that can pass on all, or nearly all, of inflation's higher costs can fare even better over time. When inflation subsides, higher prices remain in place, leading to better profits for investors. While there may be some headwinds now, great companies can be had for a reasonable value.
» FULL STORY | | | | |
| | Insider Trading Report: Uber Technologies Inc (UBER) | | | | Yasir Al-Rumayyan, a director at Uber Technologies Inc (UBER), recently bought 250,000 shares. The buy increased his holdings by 181 percent, and came to a total cost of $5.145 million.
This is the first insider buy since the company CEO bought 200,000 shares last May. Two insiders have been slight sellers of shares over the past year, but overall there has been little activity since the company went public.
» FULL STORY | | | | |
| | Unusual Options Activity: Macy's (M) | | | | Shares of department store chain Macy's (M) are down about in-line with the overall stock market over the last year. One trader sees a further decline ahead.
That's based on the May $19 puts. With 105 days until expiration, 20,012 contracts traded compared to a prior open interest of 346, for a 58-fold jump in volume on the trade. The buyer of the puts paid $0.77 to make the bearish bet.
» FULL STORY | | | | |
| | • | Thousands of Flights Cancelled Amid Texas Ice Storm
An ice storm in Texas has led to thousands of flights being cancelled, largely in and out of Texas. Dallas/Ft. Worth and Dallas Love Field have had the majority of the recent shutdowns, accounting for about 70 percent of the airport's regular schedule. | | | | • | Spitznagel Warns on "Mega-Tinderbox-Timebomb"
Mark Spitznagel, fund manager at Universa, sees an eventual financial crisis following the market's 15 year run off of the housing crash. The manager sees a black swan event as having the potential to create a "mega-tinderbox-timebomb" as investors have taken on extreme risks to earn modest rewards. | | | | • | Netflix Clarifies Account Sharing Policy
Streaming company Netflix (NFLX) is looking to curb account sharing this year, by asking subscribers to pay extra if they use the streaming service outside their household for extended periods of time. The company is already testing extra fees for account sharing in Chile, Costa Rica, and Peru. | | | | • | PayPal to Lay Off 2,000 Employees
Payment company PayPal (PYPL) has announced that it is looking to cut about 2,000 full-time employees from its staff. That's about 7 percent of its workers. The layoffs will start in the coming weeks. PayPal adds to a growing number of big tech companies looking to cut staff following a sizeable buildup during the pandemic. | | | | • | Bed Bath and Beyond to Close Stores Amid Path to Bankruptcy
Retailer Bed Bath and Beyond (BBBY) closed 150 locations last August, and is now on track to close another 87 locations. The company is also moving towards bankruptcy, following the regulatory filing last week that it's received a notice of default from its lender. | | |
| | | | TOP | | | BIDU | 13.361% | | | | AMD | 13.085% | | | | ODFL | 11.682% | | | | SYK | 9.684% | | | | MPWR | 8.259% | | | | BOTTOM | | | WRK | 13.226% | | | | EA | 9.838% | | | | CB | 5.179% | | | | MTCH | 4.823% | | | | JNPR | 4.334% | | | | |
| | |  | | This 'Fed pause' window we believe is likely to prove bullish, with a long duration and growthy tilt. In fact, we see that expectation as playing a large role in the 2023 rally already, and it's a good reminder why being fully invested is an important component of building long-term wealth. Just remember: when the Fed pauses, it will likely be because the economy is convincingly turning over. That means the related rally is liable to be short-lived. We are fading this rally. | | - Lauren Goodwin, economist at New York Life Investments, on why investors may be getting ahead of a potential Fed pause this year, and that such a pause may indicate the economy is slowing down too much. | |
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