👉Europe Hits a Recession – Can the U.S. Escape the Same Fate?

Good morning. The latest data out of Europe shows a slight, 0.1 percent decline for the 20...

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. The latest data out of Europe shows a slight, 0.1 percent decline for the 20-country region's gross domestic product (GDP) in the first quarter of 2023. The country also saw a 0.1 percent decline in the last quarter of 2022. While small, this fits the definition of a recession. Can the U.S. escape the same fate? Let's not be quick to forget that the U.S. had two back-to-back declines in the first half of 2022, which also hit the technical definition of a recession. So while we're seeing a slowdown today, the drop inflation that's finally underway may make any decline look better than expected. Traders should still try to avoid being complacent right now. While there's no big issue troubling the markets at present, it's clear with a slowing economy that there could be an unpleasant surprise of any sort that may surprise to the downside in the months ahead. Now here's the rest of the news: Sponsored Content Does A.I. Flip Profitability In YOUR Favor? 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Sometimes, the news is terminal for the company, like a bank being seized and closed down. But most of the time, bad news hits a share price harder than it needs to. That creates a buying opportunity. It's just important to separate permanent bad news from temporary bad news. As long as a company can continue operating, it's likely to overcome its challenge and move higher in time. » FULL STORY Insider Trading Report: Red Robin Gourmet Burgers (RRGB) Johan Hart, President and CEO at Red Robin Gourmet Burgers (RRBG), recently bought 15,000 shares. The buy increased his stake by 4 percent, and came to a total cost just over $193,000. He was joined by a company director, who bought 4,340 shares valued at $55,300. Over the past two years, insiders have been buyers of shares, at prices varying from half of where shares trade today to nearly double where shares now trade. » FULL STORY Unusual Options Activity: Roblox (RBLX) Metaverse gaming company Roblox (RBLX) has been a solid performer, with shares up 26 percent over the past year. One trader is betting on shares giving up some of their gains in the coming weeks. That's based on the June 30 $36 puts. With 21 days until expiration, 3,063 contracts traded compared to a prior open interest of 127, for a 24-fold rise in volume on the trade. The buyer of the puts paid $0.79 to make the bearish bet. » FULL STORY IN OTHER NEWS • Jobless Claims Climb to October 2021 High Jobless claims hit 261,000 for the week ending June 3. That's an increase of 28,000 compared to the prior week. It's also the highest level since October 2021, and came in well ahead of expectations for a reading of 235,000. This data shows that last week's slight increase in unemployment may not be the last. • White House Prepares Alternate Student Loan Plan The Biden Administration is preparing an alternative plan for student loan forgiveness. The current plan is moving through the Supreme Court, where the potential to forgive $430 billion in student loans may be shot down. Analysts see a partial forgiveness program as beneficial for lower-income Americans, and may stimulate the economy. • Economists Sour on China's Economic Growth Some economists see a potential "lost decade" for China. Since ending its harsh Covid restrictions and opening up its economy this year, growth has slowed, not accelerated. Plus, the country is looking to add in stimulus measures right now to support its housing and credit markets. • Manhattan Rents Rise 10 Percent Rents in Manhattan have risen 10 percent for the past year ending in May, and is up 3.6 percent compared to April. That's set a record high for the third month in a row. The median rental price has now hit $4,395. Rental prices have been trending up in the Manhattan market for the past 18 months. • LinkedIn to Add AI Tools Social media platform LinkedIn, owned by Microsoft (MSFT) is adding in AI tools to help advertises to create different campaigns. The tools would use data from the marketer's page and would be able to include targeting and audience information to create suggestions for different ad copies. S&P 500 MOVERS TOP WBD  6.593% TCOM  5.133% ADBE 4.895% TSLA 4.123% ANET 4.088% BOTTOM DISH 4.82% POOL 4.04% EMN 3.946% MOS 3.514% GEHC 3.492% Quote of the Day We still have leading economic indicators down 13-months in a row. We still have an inverted yield curve [and] liquidity issues. 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