Good morning. Investors tend to dislike uncertainty. However, investing is the process of determi...
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. Investors tend to dislike uncertainty. However, investing is the process of determining future outcomes, which are riddled with uncertainty.
The cryptocurrency space is currently facing a number of uncertainties. The collapse of exchanges such as FTX has led to investor losses and increased uncertainty. Regulators aren't helping either. The CFTC, in its suit against Binance, is listing cryptocurrency Ethereum as a commodity, rather than a security. That interpretation opens up Ethereum's regulation to a different group than if it's listed as security.
Once this regulatory uncertainty goes away, chances are the price of Ethereum, or any other crypto, will move higher. For now, investors should tread lightly, but use big drops in price to build a long-term position.
Now here's the rest of the news: | | | | | |
| | |  | DOW 32,394.25 | -0.12% | | | | | S&P 3,971.27 | -0.16% | | | | | NASDAQ 11,716.08 | -0.45% | | | | | *As of market close | | | • | Markets traded lower on Tuesday, although stocks rallied off the lows of the day. | | | • | Oil rose 0.9 percent, last going for $73.46 per barrel. | | | • | Gold rose 1.1 percent, ending at $1,75 per ounce. | | | • | Cryptocurrencies generally moved higher, with bitcoin at $27,336 at the stock market close. | | | | | | | |
| | | Pick Up Suppliers In a Weak Economy | | | | During a market pullback, investors tend to gravitate towards well-known companies with strong brands. Many of those companies, in turn, do what they do thanks to a strong network of suppliers. That can include anything from providing raw commodities to nearly-finished goods.
Since these companies aren't as well known, they tend to sell off during a market downturn, and then can benefit proportionately from the market rebound. So it's no surprise that some analysts may be targeting them for big returns now.
» FULL STORY | | | | |
| | Insider Trading Report: Comstock Resources (CRK) | | | | Roland Burns, CFO at Comstock Resources (CRK), recently bought 20,000 shares. The buy increased his holdings by 2 percent, and came to a total cost just under $199,000.
The buy comes about a week after the company's VP of Financial Reporting bought 5,000 shares, paying $50,400. And Comstock's VP of Operations bought 20,000 shares for $201,000. That's on top of other insider buys going back to last August. There have been no insider sales in the past year.
» FULL STORY | | | | |
| | Unusual Options Activity: International Business Machines (IBM) | | | | Server and computer company International Business Machines (IBM) have dropped 4 percent in the past year, outperforming the overall stock market by about 9 points. One trader sees a further decline for shares in the weeks ahead.
That's based on the April 21 $116 puts. With 23 days until expiration, 3,949 contracts traded compared to a prior open interest of 199, for a 33-fold rise in volume on the trade. The buyer of the puts paid $0.56 to make the bearish bet.
» FULL STORY | | | | |
| | • | European Banks Remain Under Pressure
Regulators for the European Banking Authority have stated that the region's banks are not yet clear of downside risks. One reason is rapidly-rising interest rates, which are taking a toll on asset valuations and changing the demand to borrow money. | | | | • | Housing Markets Shift Amid Rising Mortgage Rates
Major housing markets in the Western United States have started to see large year-over-year price declines. However, markets in the East have generally held up more strongly, with some markets still showing year-over-year gains. Nationwide housing prices have just started to trend down on a year-over-year basis. | | | | • | Disney to Start Layoffs This Week
The Walt Disney Company (DIS) has announced that it will start informing employees this week that they will be laid off. The company expects to lay off 7,000 workers, with two more rounds of layoffs following this year. The moves are part of a broader effort to reduce corporate spending and increase cash flow. | | | | • | Lyft Names New CEO
Ride-sharing company Lyft (LYFT) is overhauling its management team. The company's CEO is departing from the role, although he will continue on as a member of the company board. Lyft's other cofounder will also move into a non-executive role. | | | | • | Activist Pressure Eases on Salesforce
Activist investor Elliott is withdrawing its nomination for a board seat at Salesforce (CRM), a sign that the company may be moving towards reforms sought by Elliott. Salesforce have four other activist firms operating to improve the company's operations and increase profitability. | | |
| | | | TOP | | | MKC | 9.047% | | | | CCL | 5.745% | | | | BIDU | 4.675% | | | | OXY | 4.09% | | | | JD | 3.922% | | | | BOTTOM | | | FRC | 4.847% | | | | HUM | 4.651% | | | | ANET | 3.584% | | | | CDW | 3.558% | | | | STX | 3.314% | | | | |
| | |  | | Market sentiment is improving as policymakers take steps to alleviate the recent challenges. An extension of the liquidity facility that had been set up by the Federal Reserve meaningfully eases prior concerns that a series of bank runs could be in the offing. | | - Brian Levitt, global market strategist at Invesco, on the market's likely move higher as recent issues with the banking sector subside. | |
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