Good morning. Stocks traded flat on Friday and saw a slight move higher on Monday. Following...
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.
 | | |  | DOW 34,463.69 | -0.11% | | |  | S&P 4,399.78 | +0.69% | | | | | NASDAQ 13,497.59 | +1.59% | | | | | *As of market close | | | • | Markets closed mixed on Monday, ending near their highs of the day. | | | • | Oil dipped 0.6 percent, closing at $80.76 per barrel. | | | • | Gold rallied 0.4 percent, last going for $1,924 per ounce. | | | • | Cryptocurrencies traded flat, with bitcoin at $26,140 at the stock market close. | | | | | | | |
| | | Demand Isn't Going Away For this Critical Piece of the Global Economy | | | | The stock market is made up of sectors. Some of them are in favor at any given moment. Others are out of favor. Buying out of favor sectors can lead to big gains when the trend shifts.
Investors can also sour on a sector that has performed well recently, on the logic that it may be time to change. But some sectors are less susceptible to change than others.
» FULL STORY | | | | |
| | Insider Activity Report: Mid Penn Bancorp (MPB) | | | | Matthew De Soto, a director at Mid Penn Bancorp (MPB), recently bought 2,355 shares. The buy increased his holdings by 4 percent, and came to a total cost of $50,001.
The director was also a buyer in late June, buying 362 shares for just under $8,000. Another company director was a buyer at the same time. Over the last two years, company directors and the CEO have been regular and steady buyers of shares, with no insider sales.
» FULL STORY | | | | |
| | Unusual Options Activity: Microsoft (MSFT) | | | | Tech giant Microsoft (MSFT) has been a strong performer this year, but shares have been hit in recent weeks. One trader sees shares bouncing higher in the months ahead.
That's based on the November $280 calls. With 87 days until expiration, 22,514 contracts traded compared to a prior open interest of 391, for a 58-fold rise in volume on the trade. The buyer of the calls paid $45.45 to make the bullish bet.
» FULL STORY | | | | |
| | • | Jumbo Loan Competition Drops
Rising interest rates and a tight labor market is leading banks to drop its competition for jumbo loans. Those are loans for $750,000 or higher. While they're typically tied to more valuable homes and from borrowers with high income, they're less likely to be backed by Federal guarantees. With interest rates rising, so are risks in the real estate market, including holding jumbo loans on a bank's balance sheet. | | | | • | China Drops Interest Rates to Stimulate Economy
China's central bank made a widely-expected drop to interest rates over the weekend. The move was expected to provide stimulus given slow consumer spending and industrial conditions in the world's second-largest economy. However, the cuts were smaller than expected, which may lead to larger cuts later on. | | | | • | Stellantis May Move Production to Mexico
Automaker Stellantis (STLA) may move production of its Ram 1500 pickup truck from its facility near Detroit to Mexico. While such a move may lead to political pushback, it would also cut costs substantially compared to using union labor. The information about the move was first revealed by the leader of the UAW, which is currently in negotiations with U.S. automakers. | | | | • | Domino's to Close Russia Locations
Domino's Pizza (DPZ) is closing all its outlets in Russia. The company has over 140 locations in the country, and the company's franchisee for the brands in Russia will file for bankruptcy. This marks the first departure of a fast-food chain from Russia since McDonald's (MCD) and Starbucks (SBUX) left in early 2022. | | | | • | Tesla Says Data Breach Inside Job
Tesla Motors (TSLA) reports that a data breach that impacted 75,000 employees was an inside job. The company found that two former employees leaked personal information about their coworkers to a German newspaper. The data included names, addresses, social security numbers, and employee records. | | |
| | | | TOP | | | MRNA | 9.679% | | | | NVDA | 7.952% | | | | TSLA | 6.771% | | | | AVGO | 4.742% | | | | AMAT | 4.234% | | | | BOTTOM | | | DISH | 5.232% | | | | PODD | 4.376% | | | | EL | 3.708% | | | | FTRE | 3.278% | | | | BALL | 2.767% | | | | |
| | |  | | I feel like the markets are rethinking their optimism from July, where we had the soft landing narrative. Now it's still seeing economic growth, but [there are] question marks coming up on how much higher interest rates need to go, and so the narrative this month has been on longer duration yields. | | - Michelle Cluver, senior portfolio strategist at Global X ETFs, on the market's sharp decline in the past few weeks as it has become clear that inflation hasn't been fully knocked out of the economy yet and interest rates may need to move slightly higher. | |
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