🚛How the Labor Market Will Keep Inflation Higher

Good morning. The labor market driving hard bargains for workers. UPS truck drivers will be able...

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 labor market driving hard bargains for workers. UPS truck drivers will be able to earn up to $170,000 by 2028 as the newest service contract kicks in. And the United Auto Workers union, representing thousands at the "Big Three" U.S. automakers, are looking for a 46 percent wage hike. Those are big jumps, far in excess of the recent inflation, could keep prices higher. Workers with improved earning power will use it to meet their demands – which in turn will likely push prices up even further. That means more inflation for longer. It's similar to the government money-printing of the 1960s. That led to big inflation in the 1970s, another time when workers demanded big jumps in wages. Investors should plan on inflation staying higher for longer, which could bode well for fixed-income positions and some inflation-beating leading companies. Now here's the rest of the news: Sponsored Content Everyone's Quitting China … Apple, Amazon, Volkswagen, Samsung, Google, Microsoft. These are just a few of the major companies pulling their investments out of China at record speed. What the heck is going on? And why could this tidal wave of capital flowing out of China offer a huge opportunity for Americans in the next 18months? In this short video, Sean Brodrick reveals the surprising answer. MARKETS DOW 34,500.66 +0.07% S&P 4,369.71 -0.01% NASDAQ 13,290.78 -0.20% *As of market close • Markets closed mixed on Friday, capping off the worst week since March. • Oil rose 1.1 percent, closing at $81.27 per barrel. • Gold rallied 0.2 percent, last going for $1,919 per ounce. • Cryptocurrencies slid lower, with bitcoin at $26,084 at the stock market close. Today's TOP TIPS Diversification Makes this Industry Leader a Bargain Today The market's rally higher this year has been driven largely by tech stocks. While the market has pulled back a bit overall, many companies and sectors have been laggards. There's still some residual concerns that are now creating a value today. One sector is the media space. Fears of a slowing economy and declining ad spending hit the sector hard last year. So far, it's been slow to recover. But buying a diversified player here can lead to solid returns. » FULL STORY Insider Activity Report: Lennar (LEN) Amy Banse, a director at Lennar (LEN), recently bought 820 shares. The buy increased her stake by 11 percent, and came to a total cost of $100,909. The director was the last insider buyer, with a 790 share pickup in July and a 165 share buy in June. Overall, that adds another $110,000 in purchases to the recent buy. Insiders have otherwise been slight sellers of shares over the past two years. » FULL STORY Unusual Options Activity: American Airlines (AAL) American Airlines (AAL) is up 6 percent over the past year, about double the return of the S&P 500. One trader sees shares declining in the months ahead. That's based on the February 2024 $11 puts. With 178 days until expiration, 7,010 contracts traded compared to a prior open interest of 167, for a 42-fold rise in volume on the trade. The buyer of the puts paid $0.35 to make the bearish bet. » FULL STORY IN OTHER NEWS • Mortgage Rates Top 7 Percent 30-year, fixed-rate mortgages hit 7.09 percent last week. That's the highest level in over 20 years, and is up from about 5 percent a year ago, and more than double the rate of two years ago. With the latest Federal Reserve meeting minutes suggesting interest rates could rise further, economists predict that mortgage rates haven't hit their highs for this cycle. • Gas Prices Jump to Ten Month Highs Gas prices have increased by 31 cents over the past month, and are now nationally at $3.88 per gallon. That's the highest average price in 10 months, according to data from AAA. The move higher has been driven in part by production cuts earlier this year, and a decline in refinery activity. Gas prices may rise further as North America enters its peak hurricane season. • China May be Trending Towards Credit Market Event Investors are increasingly wary about investing in China, given the country's lagging property markets. Rising financial stress at the country's largest asset manager, as well as China's intervention to prop up the yuan in the foreign exchange market on Friday are leading some to expect a credit event in the world's second-largest economy. • Starboard Value Takes Stake in Bloomin' Brands Activist investor fund Starboard Value has taken a 9.9 precent stake in Bloomin' Brands (BLMN), owner of Outback Steakhouse, Bonefish Grill, and other restaurant brands. While shares are up 27 percent this year, sales growth for the chain has slowed. Starboard has yet to reveal plans for improving returns, but they will likely include cost-cutting measures and possibly a brand spinoff. • Netflix to Expand Presence in India Streaming content giant Netflix (NFLX) has inked a deal with India's largest telecom operator, Jio Platforms, to bundle the streaming service with the carrier's plans. That could allow Netflix to rapidly expand into India, with a population of over 1 billion. A mobile-only Netflix plan could cost as low as $13.20 for an 84 day period, and also offer unlimited free voice calls. S&P 500 MOVERS TOP ROST 5.139% AMAT 3.765% GNRC 2.731% EPAM 2.482% AXON 2.431% BOTTOM KEYS 13.892% DE 5.595% JD 5.026% MRNA 4.095% BIDU 3.642% Quote of the Day Rates are not going higher for the right reasons in my opinion. This is now a confluence of events going on globally. We're at levels we haven't seen in quite some time. If yields continue to move like they're moving, there's going to be some ramifications for global equity markets. - Guy Adami, analyst at Private Advisor Group, on why rising interest rates may impact global growth in the coming years, particularly if rates stay higher for longer to ensure inflation drops down to pre-pandemic levels and stays there. Sponsored Content Everyone's Quitting China … Apple, Amazon, Volkswagen, Samsung, Google, Microsoft. These are just a few of the major companies pulling their investments out of China at record speed. What the heck is going on? And why could this tidal wave of capital flowing out of China offer a huge opportunity for Americans in the next 18months? In this short video, Sean Brodrick reveals the surprising answer. Not sure the best way to get started? 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