Good morning. We've reached the "shotgun merger" stage of the banking crisis, as UBS and Credit...
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.
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Send me The Free A.I. Scanned Stock Alerts > | | | | | | DOW 32,244.58 | +1.20% | | | | S&P 3,951.57 | +0.89% | | | | NASDAQ 11,675.54 | +0.39% | | | | *As of market close | | • | Markets traded higher on Monday, amid the absorption of Credit Suisse by UBS. | | • | Oil rose 1.2 percent, last going for $67.57 per barrel. | | • | Gold rallied 0.6 percent, ending at $1,985 per ounce. | | • | Cryptocurrencies trended higher over the weekend, with bitcoin at $27,869 at the stock market close. | | | | | | | | | | Amid a Declining Market, This Space Looks Set to Move Higher | | | | While the stock market has been down over the past year, some sectors look set for a move higher. One such space is in commodities. Inflation remains sticky, which tends to keep prices of hard assets from declining too much. Plus, for many commodities, the fundamentals look strong today. There's high demand and potentially lower supply for a number of resources. A second year of the Russia/Ukraine conflict looks likely to keep the wheat market tight in particular. » FULL STORY | | | | | | Insider Trading Report: Prospect Capital Corp (PSEC) | | | | Kristin Van Dask, CFO at Prospect Capital Corp (PSEC) recently bought 6,000 shares. The buy increased her stake by 10 percent, and came to a total cost just over $41,200. She was also the most recent insider to buy, with a 4,250 share pickup back in November, paying nearly $32,000 . A company director has also been active over the past two years. There have been no insider sales over the past two years either. » FULL STORY | | | | | | Unusual Options Activity: Electronic Arts (EA) | | | | Video game design studio Electronic Arts (EA) dropped about 10 percent over the past year. One trader sees shares rebounding in the months ahead. That's based on the September $125 calls. With 178 days until expiration, 1,307 contracts traded compared to a prior open interest of 106, for a 12-fold rise in volume on the trade. The buyer of the calls paid $4.65 to make the bullish bet.
» FULL STORY | | | | | | • | UBS Takes Over Credit Suisse
UBS (UBS) is taking over Credit Suisse (CS) in a deal arranged in part by the Swiss government. The deal will merge two of the world's biggest wealth management companies, as Credit Suisse had $435 billion in assets under management, and UBS had over $3 trillion ahead of the merger. | | | | • | Public Pension Funds Scale Back on Private Equity Deals
Several state and local government pension programs are scaling back deals made in private equity, given the hard-to-trade investments involved. The market pullback and rising interest rates makes these investments look less attractive compared to the days of ultra-low interest rates when funds needed high-returning assets to balance out their portfolio. | | | | • | Bitcoin Touches $28,000
Bitcoin prices hit $28,000, their highest levels in 9 months, as investors continue to invest in decentralized cryptocurrencies amid concerns over the traditional banking sector's solvency. Bitcoin, the largest cryptocurrency, is now up over 30 percent since the start of the recent banking system fears. | | | | • | Amazon To Lay Off Another 9,000 Employees
Tech giant Amazon (AMZN) has announced that it will lay off another 9,000 employees. That's on top of a prior statement to lay off 18,000 employees. The latest round will reduce headcount at the company's webs services division, as well as people experience, and at streaming site Twitch. | | | | • | Netflix Plans to Release 40 Games This Year
Streaming giant Netflix (NFLX) has announced that it has 40 games slated to launch this year. And a further 70 games are in development with partners. That's on top of 16 games being developed by in-house studios. Overall, the company has released 55 titles since launching its gaming platform in November 2021. | | | | | | TOP | | NRG | 6.766% | | | FLT | 6.298% | | | AIZ | 6.262% | | | CINF | 5.395% | | | USB | 5.068% | | | BOTTOM | | FRC | 47.959% | | | MSFT | 3.106% | | | PAYC | 2.761% | | | ILMN | 2.73% | | | CDAY | 1.998% | | | | | | | | | This might be one of those times where there's a difference between what they should do and what I think they will do. They definitely should not tighten policy. People are really on edge, and any little thing might push them over the edge, so I just don't get it. Why can't you just pivot here a little and focus on financial stability? | | - Mark Zandi, chief economist at Moody's Analytics, on the upcoming Fed meeting this week which may indicate how far the central bank is willing to go to raise interest rates as the banking system shows signs of breaking. | | |
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