| | | | DOW 33,618.69 | -0.17% | | | | S&P 4,138.12 | +0.05% | | | | NASDAQ 12,256.92 | +0.18% | | | | *As of market close | | • | Stocks traded mixed on Monday, largely unchanged after Friday's big rally. | | • | Oil rose 2.1 percent, closing at $72.82 per barrel. | | • | Gold rose 0.2 percent, ending the day at $2,028 per ounce. | | • | Cryptocurrencies dropped, with Bitcoin at $27,418 at the stock market close. | | | | | | | | | | Slow and Steady Companies Can Deliver Great Long-Term Results | | | | While traders are often looking for a quick trade, many so-called investors are often looking for a stock that can move higher quickly. By focusing instead on companies that can deliver steady, long-term growth, however, they may fare better than getting on the wrong side of a growth story that goes bad. These long-term plays can often by found by being household names, which may indicate a strong brand. Or they may be dividend payers. Often, they're both. » FULL STORY | | | | | | Insider Trading Report: Keurig Dr Pepper (KDP) | | | | A cluster of insiders picked up shares of Keurig Dr Pepper (KDP) last week. That includes the company's CFO, who bought 5,074 shares at a cost of $165,511. And the firm's Chief Supply Chain Officer bought 12,000 shares, paying just under $394,000. The company's R&D Officer bought 8,561 shares at a cost of $276,948. And finally, the company's General Council topped them all with a 13,957 share buy costing $458,612. » FULL STORY | | | | | | Unusual Options Activity: StoneCo (STNE) | | | | Financial technology software company StoneCo (STNE) is up about 50 percent over the past year. However, one trader sees the potential for a big selloff by the end of the year. That's based on the January 2024 $8 puts. With 255 days until expiration, 10,027 contracts traded compared to a prior open interest of 101, for a 99-fold jump in volume on the trade. The buyer of the puts paid $0.58 to make the bearish bet.
» FULL STORY | | | | | | • | Treasury Officials Continue to Warn on Debt Ceiling
Treasury officials have continued to warn the Biden Administration and Congress about the upcoming debt ceiling faced by the federal government. Failure to act could lead to economic chaos such as soaring interest rates and increased uncertainty for business investments, and could occur as early as June. | | | | • | Backlash Rises Against Green Energy Spending
Although the U.S. government has dedicated as much as $3 trillion for spending on green energy products over the next decade, businesses and landowners are increasingly against the spending projects. That's due to rising costs involved, and the impact from these projects in increasingly populated areas. | | | | • | PacWest Cuts Dividend
Regional banks soared on Monday, as PacWest (PACW) cut its dividend to just a penny per share from 25 cents quarterly, citing a need to raise capital amid the current banking crisis. The bank notes that despite the cut, it remains fundamentally sound. Shares jumped higher on the news, continuing a rally from Friday. | | | | • | Qualcomm to Acquire Autotalks
Wireless communications chip company Qualcomm (QCOM) is making a long-term bet on the growth of smarter cars. The company has announced that it's acquiring Autotalks, an automotive safety chip startup company, in a deal valued between $350 and $400 million. Autotalks was founded in 2009 and has raised $110 million in funding so far. | | | | • | Bitcoin Drops After Binance Pauses Withdrawals
Bitcoin prices tumbled over the weekend, as high volume on the network led to a number of slowdowns. Crypto exchange Binance even paused withdrawals on the platform twice due to the large volume of pending transactions. One Bitcoin block even had higher transaction fees than the reward payout, a situation that last occurred in 2017. | | | | | | TOP | | VTRS | 6.977% | | | AMD | 5.822% | | | CCL | 5.245% | | | WBD | 4.112% | | | PGR | 4.053% | | | BOTTOM | | CTLT | 25.77% | | | TSN | 17.253% | | | AES | 4.588% | | | MRNA | 4.003% | | | EPAM | 3.86% | | | | | | | | | When the whole news cycle started, it was sort-of explained away … as a unique circumstance for certain institutions. The reality is that liquidity is a universal challenge. The issue originally was that deposit flight was occurring. … But now that the pressure is no longer necessarily deposit flight. It's this mark to market of the securities on all their books. So I don't think that this news cycle isn't necessarily over. … I also don't think it dies of natural causes in the sense [that] it heats up and then just kind of cools down with no effect. | | - Liz Young, head of investment strategy at SoFi, on last week's market selloff on banking fears, which reversed on Friday as banking stocks soared higher… and why this trend may occur again in the coming weeks. | | |
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