Good morning. While investors and owners alike are shying away from office space, there's another...
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.
 | | The Perfect A.I. Stock Scanning Tool | | |  | | Where did you search for answers before Google?
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| | |  | DOW 34,122.42 | +0.80% | | | | | S&P 4,396.44 | +0.45% | | |  | NASDAQ 13,591.33 | -0.00% | | | | | *As of market close | | | • | Stocks traded mixed on Thursday, with the tech-heavy Nasdaq posting a slight decline. | | | • | Oil rallied 0.4 percent, closing at $69.82 per barrel. | | | • | Gold slid 0.3 percent, ending at $1,916 per ounce. | | | • | Cryptocurrencies generally rallied, with bitcoin at $30,592 at the stock market close. | | | | | | | |
| | | Stick With Companies Cracking Down on Member Sharing | | | | Markets were skeptical when Netflix (NFLX) started to crack down on users who shared their account information. The company even tried the policy last year and failed. But this time around, it's clear that more users will sign up for the service.
Other companies with a membership model are taking note. Only those who pay should get to use the service, rather than acting as a guest for a paying member.
» FULL STORY | | | | |
| | Insider Activity Report: John Wiley & Sons (WLY) | | | | David Dobson, a director at John Wiley & Sons (WLY), recently bought 3,000 shares. The buy increased his stake by 61 percent, and came to a total cost just under $95,000.
This marks the first insider buy since 2021. Otherwise, company executives have been sellers of shares, largely last year, with two sales so far this year. One sale came to just under $1,000,000, at a time when shares traded nearly twice as high as today.
» FULL STORY | | | | |
| | Unusual Options Activity: Unity Software (U) | | | | 3D software company Unity Software (U) has moved higher in the past few weeks, on AI speculation. One trader is betting the rally will continue.
That's based on the July $51 calls. With 21 days until expiration, 12,096 contracts traded compared to a prior open interest of 186, for a 65-fold rise in volume on the trade. The buyer of the calls paid $0.95 to make the bullish bet.
» FULL STORY | | | | |
| | • | 23 Largest Banks Pass Stress Test
The 23 largest banks in the country have passed their annual stress test, administered by the Federal Reserve. The test assumes a severe recession scenario. Among the banking institutions, loan losses would be minimal for brokerage firms, but credit card companies would face the biggest stress. | | | | • | Over $200 Billion in Covid Aid Stolen, Study Finds
The Small Business Administration distributed over $200 billion in fraudulent Covid-19 relief funds, according to the agency's inspector general. That's at least 17 percent of the $1.2 trillion distributed by the SBA, and potentially 4.5 million of the 22.1 million loans and grants that were disbursed and largely forgiven. | | | | • | Visa Makes $1 Billion Offer for Pismo
Credit card leader Visa (V) is making a $1 billion cash offer for Pismo, a startup based out of Brazil that provides payment infrastructure. Pismo was started in 2016, and already processes nearly $40 billion in transaction volume annually, up from under $1 billion per month in 2021. | | | | • | China Chip Rules Hit Semiconductor Companies
A number of semiconductor companies will likely see a hit as new rules come into play regarding the exporting of artificial intelligence chips from the United States to China. The latest report indicates that a decline may be in store for these chipmaker companies as early as July. | | | | • | FTX Considers a Reboot
Failed cryptocurrency brokerage FTX is in discussions with investors about relaunching its international exchange. The talks are in their initial stages, and face significant hurdles, as regulators continue to increase their oversight over the industry following the failure of FTX and other crypto exchanges last year. | | |
| | | | TOP | | | CTLT | 6.31% | | | | WFC | 4.345% | | | | TECH | 3.982% | | | | RXO | 3.567% | | | | JPM | 3.362% | | | | BOTTOM | | | MKC | 5.346% | | | | BIDU | 5.212% | | | | MU | 4.05% | | | | UAL | 3.837% | | | | BMRN | 3.568% | | | | |
| | |  | | We've seen a big rally in equities, of course, over recent months. Much of that, I think, is reflecting an increasing degree of confidence that we can avoid recessions and that inflation has peaked. Nonetheless, that rally has been very narrowly driven by a few companies. The average company has been relatively flat and we think that will probably continue for some time in equity markets. | | - Peter Oppenheimer, analyst at Goldman Sachs, on why the stock market is likely to trade in a range over the past few months following its strong rally higher. | |
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