👚Retail Stalls Out, But May Not Break the Economy

Good morning. Retail spending is slowing, as seen from this quarter's earnings reports from major...

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. Retail spending is slowing, as seen from this quarter's earnings reports from major retailers. Walgreens (WBA) even added another data point yesterday, as shares were decimated as they drugstore slashed earnings guidance and blamed "cautious consumers." But there may be more going on than what the headlines suggest. Retail spending surged during the pandemic, as did government stimulus. The resulting inflation has led many to curtail spending, at least on frivolous items. While consumer spending is still the major driver of the economy, pulling back in this part doesn't mean a recession. But it could also do much to help keep a lid on inflation. Traders may want to hold off on investing in the retail space unless a clear bargain emerges. And look for other parts of the market that may have been hit too hard lately, such as energy. Now here's the rest of the news: Sponsored Content The Perfect A.I. Stock Scanning Tool Where did you search for answers before Google? What was your go-to source of entertainment prior to streaming? How did you find explosive stocks before artificial intelligence? Old methods will always make room for innovation, so picture this: An A.I.-driven algorithm that sifts through mountains of data, analyzes market trends, and delivers accurate predictions 1-3 days in advance with remarkable precision (up to 87.4% proven accuracy). ATTEND THE FREE & LIVE A.I. STOCK MARKET TRAINING TODAY > MARKETS DOW 33,926.74 +0.63% S&P 4,378.41 +1.15% NASDAQ 13,555.67 +1.65% *As of market close • Stocks rallied on Tuesday, rebounding strongly after a string of down days. • Oil dropped 2.5 percent, closing at $67.66 per barrel. • Gold slid 0.5 percent, ending at $1,923 per ounce. • Cryptocurrencies generally rose, with bitcoin at $30,673 at the stock market close. Today's TOP TIPS Buy This Sector as the Fear Is Finally Leaving Sometimes the market gets fearful of some sectors. When that happens, prices plummet in a short period of time. However, the market is cyclical. And there will always be a new sector that grabs the market's fear. As that happens, sectors where the fear is leaving will often see some big players move in to profit from a rebound ahead. And investors can follow along to further profits. » FULL STORY Insider Activity Report: Vistra Corp (VST) Julie Lagacy, a director at Vistra Corp (VST), recently bought 10,000 shares. The buy increased her stake by 143 percent, and came to a total cost just over $248,000. This marks the first insider buy in the past three months. The company President and CEO bought 5,000 shares back in March, and a director bought 11,000 shares around the same time. The last insider sales came from an institutional investor last November. » FULL STORY Unusual Options Activity: Eos Energy Enterprises (EOSE) Energy storage solution company Eos Energy Enterprises (EOSE) have been trending higher in recent sessions. One trader sees that trend continuing in the coming few weeks. That's based on the August $4.50 calls. With 51 days until expiration, 12,101 contracts traded compared to a prior open interest of 112, for a 108-fold rise in volume on the trade. The buyer of the calls paid $0.80 to make the bullish bet. » FULL STORY IN OTHER NEWS • Home Prices See First Annual Decline in 11 Years For the 12 months ending in April, home prices logged their first annual decrease in 11 years, based on the latest Case-Shiller US National Home Price Index. The drop is a 0.2 percent, the first such drop since 2012. On a monthly basis, prices have continued to inch higher, with a 0.5 percent increase in April compared to March. • Inform Act Looks to Target Organized Retail Theft The Inform Act took effect on Tuesday. The law is looking to take a bite out of organized retail theft, by better verifying online sellers to deter the sale of stolen products. Major retailers and trade groups lobbied for the bill as organized theft at retail stores has soared in recent years. • Ford to Lay Off 1,000 Workers Ford Motors (F) is looking to lay off about 1,000 contract and salaried workers, mostly focusing on engineering jobs in North America. The move should help the company defray some of the costs of investing in building out a fleet of electric vehicles. The company has already laid off workers in the past year, and another round was rumored for some time. • Meta Adding New Parental Control Tools Social media firm Meta Platforms (META) is rolling out new parental control tools. This includes a supervision hub, and provides for nudges to remind teenagers to take a break from social media. The tools are being rolled out across Instagram, Facebook, and Messenger. • Lordstown Files for Bankruptcy Electric vehicle manufacturer Lordstown Motors (RIDE) has filed for bankruptcy. The company failed to gain traction following a potential partnership with Foxconn which went sour. Lordstown also announced a lawsuit against Foxconn. Other EV companies saw their shares rise on the news. S&P 500 MOVERS TOP CCL 8.836% GNRC 8.793% NWL 7.421% ODFL 7.392% DAL 6.838% BOTTOM WBA 9.338% REGN 8.706% CTLT 4.792% ILMN 4.404% TMO 2.377% Quote of the Day The market is in digestion mode. We've had a very big run this year, led primarily by the big cap tech stocks and the Nasdaq 100. - Adam Sarhan, CEO of 50 Park Investments, on the market's recent pullback after rallying strongly since the start of the year and technically entering a new bull market. Sponsored Content Stop Wasting Time and MONEY EVERY MINUTE COUNTS. Efficiency is key to staying ahead of the competition. This is where A.I. steps in, offering a revolutionary solution to save you precious time and streamline your trading efforts. 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