🤢Tech Layoffs Hit this Ominous Benchmark

Good morning. Tech layoffs continue to rise, as a number of big-name companies have announced...

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. Tech layoffs continue to rise, as a number of big-name companies have announced plans to lay off substantial numbers of workers. A few companies have even made multiple rounds of layoffs at this point. All told, the tech sector has announced 102,391 job cuts. If this trend continues, the total layoffs in tech could surpass the previous high set in 2001. That was a year following the bursting of the tech bubble, where many companies in the space went bankrupt. If that trend continues, it could be a sign that growth companies may continue to stay out of favor with the market… and that value companies may fare better here for some time. Investors and traders alike can use this to profit from short-term swings, as well as an opportunity to build long-term stakes in dividend growth stocks… with an eye towards a heavier allocation to tech stocks at lower prices a year or two down the road. Now here's the rest of the news: Sponsored Content The Results Are In: Bryan Perry's "Million-Dollar Beta Test" Beta Testers following Bryan's trading system had the opportunity to collect: $1.07 million in 9 months (2020) $1.04 million in 10 months (2021) $1.17 million in 8 months (2022) Click here to see how these extraordinary trading gains came to pass... and find out what Bryan has planned for 2023 – his fourth and final Beta Test. MARKETS DOW 33,485.35 +0.01% S&P 4,105.02 +0.36% NASDAQ 12,087.96 +0.76% *As of market close • Markets closed the shortened trading week higher, with all three indices posting a gain. • Oil dipped 0.1 percent, last going for $80.53 per barrel. • Gold slid 0.6 percent, ending at $2,023 per ounce. • Cryptocurrencies moved slightly lower, with bitcoin at $28,045 at the stock market close. Today's TOP TIPS This Knocked-Down Sector Looks Like a Speculative Buy Now Wall Street is fond of saying that investors shouldn't look to catch a falling knife. However, once a stock has had a big drop, fears of a further decline tend to leave investors on the sidelines. That can mean missing out on the early part of a rally off extreme lows, which can be a big part of a total bull rally. That means it's often ideal to buy when there's still some lingering fear. » FULL STORY Insider Trading Report: Cheniere Energy Partners LP (CQP) Blackstone Holdings III LP, a major holder at Cheniere Energy Partners LP (CQP), recently added 96,470 shares to their holdings. The buy increased the fund's position by about 1 percent, and came to a total cost just over $4.5 million. The fund later added another 27,706 shares, at a cost of just over $1.3 million. The fund has been a notable buyer of shares over the past two years. Otherwise, one director made a minor sale last year. » FULL STORY Unusual Options Activity: Gold Fields Limited (GFI) Gold mining and exploration company Gold Fields Limited (GFI) has soared 40 percent in recent weeks as gold prices have once again topped $2,000 per ounce. One trader sees a further rally ahead. That's based on the January 2024 $25 calls. With 287 days until expiration, 12,751 contracts traded compared to a prior open interest of 130, for a massive 98-fold jump in volume on the trade. The buyer of the calls paid $0.58. » FULL STORY IN OTHER NEWS • Layoffs Rise Nearly 400 Percent Compared to 2022 Announced layoffs by companies have risen to 270,416 for the year so far. That's an increase of nearly 400 percent compared to a year ago. In tech, job layoffs are up 38,487 percent compared to the prior year. And the amount rose by 15 percent in February. All these signs point to a continued weak job market. • Commercial Bond Demand Drops Amid Office Vacancies and Rising Interest Rates Bonds backed by commercial mortgages have dropped to pandemic levels, as office vacancy rates continue above average and as interest rates continue to rise. This part of the bon market could see a higher default rate in the months ahead as a result. These loans are typically held on the assets of small and regional banks. • Interest Rises for Overseas Investments The past 10 years has seen investors largely focus on tech companies, and U.S.-based companies in particular. Over the past decade, foreign stocks are up about 60 percent compared to 227 percent for the S&P 500. That may change in the years ahead, given better valuations overseas, and capital is starting to flow into these markets. • Bed Bath & Beyond Gets $120 Million In Financing Struggling retailer Bed Bath & Beyond (BBBY) has obtained $120 million in financing. The money is coming from ReStore Capital, which will buy merchandise from BBBY's suppliers to supplement and restock store inventories. Typically, retailers in financial trouble often start having issues with suppliers given concerns of repayment. • UK Regulators Question Amazon's iRobot Acquisition The United Kingdom's Competition and Markets Authority (CMA) are raising questions about the $1.7 billion offer from Amazon (AMZN) to acquire vacuum company iRobot (IRBT). The agency is soliciting questions from stakeholders, and hasn't provided any specific timeline or deadlines for a full investigation. S&P 500 MOVERS TOP CTLT  5.94% FRC  4.018% GOOG  3.749% GOOGL 3.728% DISH 3.341% BOTTOM MOS 6.146% FMC 4.316% MPC 3.022% COST 2.436% CF 2.351% Quote of the Day VRP, which is the difference between implied and realized volatility, has historically been more useful in timing short-term dips than have either jumps in VIX or large price declines. Since March 14th when we initiated our 'buy-the-dip' call, S&P has appreciated around 5%. Oversold conditions no longer persist, given the current VRP levels have fallen back below zero. - A Citigroup analyst note, indicating that traders may want to lighten up long-side trades following the market's move higher over the past few weeks. Sponsored Content The Results Are In: Bryan Perry's "Million-Dollar Beta Test" Beta Testers following Bryan's trading system had the opportunity to collect: $1.07 million in 9 months (2020) $1.04 million in 10 months (2021) $1.17 million in 8 months (2022) Click here to see how these extraordinary trading gains came to pass... and find out what Bryan has planned for 2023 – his fourth and final Beta Test. Not sure the best way to get started? 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