⛅Time For the Debt Ceiling Market Mayhem

Good morning. With the U.S. Treasury warning that the government could run out of money in the...

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. With the U.S. Treasury warning that the government could run out of money in the first week of June, markets are finally starting to look at the potential for a default with a week to go. Chances are we'll see a further move lower in the coming days so long as there's no deal in place. As we've seen in the past, there's a tendency to run debt ceiling deals up until the last possible minute, which tends to follow with a relief rally. Today's investors can follow that plan by looking for stocks to buy in the next week, particularly on a strong down day. Now here's the rest of the news: Sponsored Content Trade With Artificial Intelligence For Happiness Acronyms are fun. They're also helpful. They simplify complex or lengthy terms or phrases into shorter, more manageable forms. They also condense information and make it easier to remember and communicate. And this acronym represents how A.I. is helping more and more traders around the world spot trend reversals in a snap 1 - 3 days in advance with up to 87.4% proven accuracy. Ready to learn more? CHECK IT OUT NOW >> MARKETS DOW 32,799.92 -0.77% S&P 4,115.24 -0.73% NASDAQ 12,484.16 -0.61% *As of market close • Stocks closed lower on Wednesday, with traders still focused on the debt ceiling. • Oil rose 1.3 percent, closing at $73.86 per barrel. • Gold slid 0.6 percent, ending the day at $1,962 per ounce. • Cryptocurrencies declined, with Bitcoin at $26,269 at the stock market close. Today's TOP TIPS Play the Renewed "Made in America" Trend Many companies were caught during the pandemic as borders shut down. Without reliable just-in-time delivery systems operating, they've been working to diversify their manufacturing operations. For higher-level goods such as semiconductors, this means reversing a multi-decade trend to once again make goods in America. Signs of this trend have just started to pop up, and they'll likely increase in the years ahead. While there may be higher labor costs to manufacture stateside, most businesses see the development as a positive one. » FULL STORY Insider Trading Report: H&R Block (HRB) Richard Johnson, a director at H&R Block (HRB), recently picked up 10,000 shares. The buy increased his stake by 17 percent, and came to a total cost just over $395,000. The buy came about a week after a different director picked up 500 shares, paying just over $16,000. Company insiders were largely sellers of shares in 2022, when the share price was closer to the $50 range rather than the $30 range today. » FULL STORY Unusual Options Activity: Palantir Technologies (PLTR) Shares of big data analysis company Palantir Technologies (PLTR) have soared over 50 percent in the past month. One trader is betting that shares will give up some of that gain in the coming weeks. That's based on the June 16th $12.50 puts. With 21 days until expiration, 3,924 contracts traded compared to a prior open interest of 122, for a 32-fold rise in volume on the trade. The buyer of the puts paid $0.77 to make the bearish bet. » FULL STORY IN OTHER NEWS • Three-Fifths of Americans Now Living Paycheck to Paycheck A full 61 percent of Americans are living paycheck to paycheck, according to the latest report from LendingClub. High earners grossing over $100,000 are slightly better off, with just 49 percent living paycheck to paycheck, however that's an increase from just 42 percent last year. • FTC Investigating Baby Formula Makers The Federal Trade Commission is investigating a number of companies involved in making baby formula, on suspicion that those companies may have colluded on bids for state-level contracts. The coordinated bidding may have resulted in states overpaying for formula, which has faced shortages in recent years. • PacWest Bancorp Sells Real Estate Lending Unit Regional bank PacWest Bancorp (PACW) is selling its real estate lending unit to Roc360, a bank focused on property investments. The sale of these assets frees up capital for PacWest, which has been one of the regional banks seen as most likely to fail in recent months amid a banking crisis. • Climate Protestors Disrupt Shell Shareholder Meeting Climate activists stormed the annual shareholder meeting of Shell (SHEL), calling for the oil company to be shut down. The demonstration delayed the meeting by over an hour, and comes as many shareholders are also calling on major oil companies to take action to cut carbon emissions. • Netflix Begins Password Sharing Crackdown Streaming giant Netflix (NFLX) is starting to roll out a global campaign to crack down on password sharing. The company has previously held back on the move following an outcry from customers. Netflix is offering tools for users to remove devices that shouldn't have access to their account. S&P 500 MOVERS TOP ILMN 3.592% NFLX 2.86% GLW 2.811% ORLY 2.009% VLO 1.969% BOTTOM ADI 7.857% INTU 7.12% A 6.133% MCHP 4.78% DISH 4.546% Quote of the Day The impact of that is likely to remove liquidity from the broader capital markets. Especially more recently, [that] has really overlapped with, or it has correlated with, S&P 500 in general stock performance. - Bill Merz, head of capital markets research at U.S. Bank Wealth Management, on how a resolution to the debt ceiling could lead to a market selloff, as liquidity could come out of markets. Sponsored Content Traders Choose A.I. to Overpower Inflation Nothing is straightforward in today's economy. 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