Good morning. The Federal Reserve's rapid interest rate hikes of the past year were designed to...
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 32,237.53 | +0.41% | | | | | S&P 3,970.99 | +0.56% | | | | | NASDAQ 11,823.96 | +0.31% | | | | | *As of market close | | | • | Markets closed higher on Friday, reversing a morning loss. | | | • | Oil dropped 1.1 percent, last going for $69.18 per barrel. | | | • | Gold dipped 0.8 percent, ending at $1,980 per ounce. | | | • | Cryptocurrencies generally moved lower, with bitcoin at $27,837 at the stock market close. | | | | | | | |
| | | Invest With Companies Facing Specific, Yet Solvable, Fears | | | | The market's bearishness is reflected in the tendency to sell shares of a company first, and ask questions later… if at all. However, many companies selling off right now are still fine operationally. A few may even benefit from the current slowing economy, as competitors change their business or even go bankrupt.
That makes this a stockpicker's market. And the way to profit from that is to find companies that have been hit hard from specific fears that can abate in time.
» FULL STORY | | | | |
| | Insider Trading Report: UMH Properties (UMH) | | | | Daniel Landy, an EVP at UMH Properties (UMH), recently bought 1,900 shares. The buy increased his stake by 1 percent, and came to a total price of $33,089.
That's on top of a number of smaller buys from other company insiders, including two directors, and the company President and CEO in recent weeks. Insiders have only been buyers of shares in the past year, with some director sales going back further.
» FULL STORY | | | | |
| | Unusual Options Activity: Deutsche Bank (DB) | | | | Major international money center bank Deutsche Bank (DB) has been under pressure, and shares are down 20 percent over the past year. One trader sees further weakness in the coming months.
That's based on the May $8 puts. With 53 days until expiration, 13,388 contracts traded compared to a prior open interest of 369, for a 36-fold rise in volume on the trade. The buyer of the puts paid $0.80 to make the bearish bet.
» FULL STORY | | | | |
| | • | Credit Access Narrows Amid Banking Stress
Many companies are avoiding issuing new debt right now, amid a banking crisis. No companies with investment-grade credit issued new bonds over the past week, the first time in 10 years that's happened. And junk bond sales have also slowed this month as investors take a "wait and see" attitude as well. | | | | • | Schwab Says It's Prepared for Leaving Depositors
Finance giant Charles Schwab (SCHW) has stated that it's prepared for the total departure of all its depositors, thanks to a position with ample liquidity. Other financial institutions have been monitoring their depositor activity, and updating on liquidity needs in recent days. | | | | • | Riots in France Amid Pension Reform Protests
Over one million have rioted in France in recent days, as the country moves forward with unpopular pension reforms. The biggest issue is the country's move to change the retirement age from 62 to 64, which was pushed through the French parliament without a vote. | | | | • | British Regulator Eases on Microsoft-Activision Deal Concerns
The U.K.'s Competition and Markets Authority is dropping some of its concerns between the proposed merger between Microsoft (MSFT) and Activision Blizzard (ATVI). The regulatory agency states that it no longer sees the deal lessening competition in the console games market. | | | | • | Crypto Faces Increased Regulatory Scrutiny
With the recent failure of banks heavily invested in the cryptocurrency space, regulators are eyeing ways to better oversee the space. Crypto brokerage Coinbase (COIN) was issued a Wells notice from the SEC, informing the company of a pending enforcement action, likely involving staking through a third-party service. | | |
| | | | TOP | | | ATVI | 5.911% | | | | KEY | 5.235% | | | | ISRG | 4.888% | | | | CCI | 4.614% | | | | SIRI | 4.432% | | | | BOTTOM | | | MPWR | 4.917% | | | | ENPH | 4.236% | | | | LRCX | 4.112% | | | | ON | 3.903% | | | | WBD | 3.648% | | | | |
| | |  | | Even if the banking woes have been contained and the deposit flight is over, I don't think they'll prove to be the only set of headlines that pose risks to the economy. What might be more likely in coming months is some sort of credit problem as companies' debt matures and they need to refinance their operations at much higher rates than before. | | - Liz Young, head of investment strategy at SoFi, on the potential risks to the financial system even if the current fears in the banking market have subsided. | |
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