Good morning. While the market historically slows down, and even tends to have a mild correction...
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.
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| | |  | DOW 34,585.35 | +0.22% | | | | | S&P 4,522.79 | +0.39% | | | | | NASDAQ 14,244.95 | +0.93% | | | | | *As of market close | | | • | Markets rallied on Monday, as investors prepared for a busy week of earnings. | | | • | Oil dropped 1.8 percent, closing at $74.10 per barrel. | | | • | Gold dipped 0.3 percent, last going for $1,959 per ounce. | | | • | Cryptocurrencies trended lower, with bitcoin at $29,910 at the stock market close. | | | | | | | |
| | | Use Uncertainty to Grab High Dividend Yields | | | | Companies face uncertainties all the time. But when a big new fear comes out, prices drop first, and take time to recover. That can cause dividend companies to see their yields soar. Investors who take advantage of that opportunity can buy high yields.
With a high dividend yield, investors get paid to wait for shares to recover. And if the company is operationally sound, the dividend can even grow during a time when the market has some sort of fear.
» FULL STORY | | | | |
| | Insider Activity report: Upbound Group (UPBD) | | | | Jeffrey Brown, a director at Upbound Group (UPBD), recently added 877 shares. The buy increased his holdings by 1 percent, and came to a total cost of $27,000.
The director was the most recent buyer of shares with a 1,143 share pickup in April. That buy represented a 1 percent increase, and also came to about $27,000. Going back further this year, only one company vice president sold a small percentage of their shares.
» FULL STORY | | | | |
| | Unusual Options Activity: BILL Holdings (BILL) | | | | Payment management company BILL Holdings (BILL) is up about 14 percent so far this year. However, one trader sees a pullback in the months ahead.
That's based on the November $120 puts. With 122 days until expiration, 22,046 contracts traded compared to a prior open interest of 101, for a 218-fold rise in volume on the trade. The buyer of the puts paid $14.60 to make the bearish bet.
» FULL STORY | | | | |
| | • | China's Economy Continues to Slow
China's economy grew by 6.3 percent in the second quarter of 2023, however, that level came in below expectation, with quarter-on-quarter growth of 0.8 percent compared to expectations of 2.2 percent. The data points to a slowdown from the one-time bump in the first quarter after China ended all of its pandemic-era restrictions. | | | | • | Europeans Becoming Poorer
Continuing economic stagnation in Europe has started to drive per-capita wealth down. The region faces an aging population, and one that values leisure time over additional work, which has created an economic reality that will result in lower monetary wealth over time. The recent trend has been exacerbated by the pandemic and the war in Ukraine. | | | | • | United Airlines Pilots Could See 40 Percent Pay Raise
Carrier United Airlines (UAL) has reached a labor agreement with its pilots. Some pilots could see a raise of as high as 40 percent of their existing salaries, following an agreement reached in principle with the pilot's union. Shares moved higher on the news, which takes the uncertainty of a possible strike off the table for now. | | | | • | Ford Cuts EV F-150 Prices by Up to $10,000
Ford Motor Company (F) has announced price cuts for its electric pickup truck, the F-150 Lightning. The cheapest version will no go for about $50,000, a price cut of nearly $10,000 from the old price. All versions of the EV will see price cuts of at least $6,000 as the company works to ramp up production. | | | | • | Virgin Galactic Prepares Second Commercial Flight
Space tourism company Virgin Galactic (SPCE) is preparing its second suborbital space flight on August 10. The flight will carry three private citizens. The flight will last about 90 minutes. Virgin uses a specialized spaceplane to reach suborbital altitudes, avoiding the use of a rocket like that of competing company Blue Origin. | | |
| | | | TOP | | | FSLR | 8.429% | | | | ENPH | 7.131% | | | | MPWR | 4.772% | | | | ON | 4.765% | | | | ACGL | 4.623% | | | | BOTTOM | | | VZ | 6.907% | | | | SBAC | 6.814% | | | | T | 6.207% | | | | F | 5.808% | | | | CCI | 4.643% | | | | |
| | |  | | Regardless of how much volatility we end up seeing, given the year-to-date strength and the macroeconomic challenges, we'd expect the calls for second-half underperformance to get even louder. Amid the noise, just remember that a strong start to the year is a bullish signpost – not a bearish one – and has preceded solid second half performance far more often than not. | | - Ross Mayfield, analyst at Baird, on why the market will likely rally in the second half of the year following a strong start in the first half. | |
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