 | | |  | DOW 37,557.92 | +0.68% | | | | | S&P 4,768.37 | +0.59% | | | | | NASDAQ 15,003.22 | +0.66% | | | | | *As of market close | | | • | Stocks continued higher on Tuesday, with the S&P 500 now within 1 percent of a record high. | | | • | Oil rose 1.5 percent, closing at $73.58 per barrel. | | | • | Gold moved higher 0.7 percent, ending trading at $2,054 per ounce. | | | • | Cryptocurrencies trended higher, with Bitcoin trading at $42,261 at the stock market close. | | | | | | | |
| | | This Near-Perfect Money-Making Machine Just Had a Small Misstep | | | | Great companies are few and far between. They offer investors an opportunity to invest for long-term growth. And they generate tremendous cash flows, which can provide the capital for new ideas, while still rewarding shareholders along the way.
That's a lot to ask for. But over time, many companies have delivered on that promise. One company, however, has managed to stand head and shoulders over the rest while doing so.
» FULL STORY | | | | |
| | Insider Activity Report: Chipotle Mexican Grill (CMG) | | | | Gregg Engles, a director at Chipotle Mexican Grill (CMG), recently bought 877 shares. The buy increased his holdings by 83 percent, and came to a total cost just over $2,000,000.
The director was the last buyer of shares in May 2022. Since then, there have been nearly two dozen insider sales. Those have been a mix of regular sales and the exercise of stock options, including significant sales from the company CEO.
» FULL STORY | | | | |
| | Unusual Options Activity: PBF Energy (PBF) | | | | PBF Energy (PBF), a refiner and supplier of petroleum products such as jet fuel, is up 15 percent over the past year. One trader sees shares moving higher in the first quarter of 2024.
That's based on the April 19 $55 calls. With 121 days until expiration, 7,379 contracts traded compared to a prior open interest of 113, for a 65-fold rise in volume on the trade. The buyer of the calls paid $1.36 to make the bullish bet.
» FULL STORY | | | | |
| | • | New Home Construction Rises
Housing starts increased in November, as mortgage rates showed their first strong sign of decline in months. Housing starts increased to their highest level since early 2022. Homebuilders are looking increasingly bullish on housing, as still-high rates are keeping potential sellers off the market, increasing demand for new homes. | | | | • | Trade Deficit Rises to $78 Billion
The trade deficit rose to $78.2 billion for the month of November, a 5.4 percent increase from October. That's less than half of the jump from September to October. The decline in the rate of increase is likely coming from the strength of the U.S. dollar, as well as declining global demand for goods exported from the U.S. | | | | • | Maersk to Reroute Ships Away from the Red Sea
Shipping giant Maersk is suspending its ships from traversing the Red Sea, citing security issues occurring there, including drone attacks from Houthi militants. As with recent news from oil ships, the cargos will instead be rerouted around the Cape of Good Hope. That will greatly increase shipping time and costs. | | | | • | Office Market Struggles to Continue in 2024
Office demand has weakened in 2023, and the trend looks set to continue in 2024. Most companies have adopted to a post-pandemic hybrid work model, and don't require as much space as having all staff in the office full-time. Combined with rising interest rates, some office building owners could be under continued pressure through next year. | | | | • | Comcast Reports Data Breach
Cable and internet provider Comcast (CMCSA) reports that 36 million Xfinity customers had their data stolen in a hack. The hackers were able to exploit a vulnerability, which was first discovered in August. The data stolen includes customer data as well as usernames and hashed passwords, protected by an algorithm. | | |
| | | | TOP | | | ENPH | 9.103% | | | | TRIP | 8.279% | | | | ILMN | 8.079% | | | | CTLT | 6.565% | | | | DISH | 5.172% | | | | BOTTOM | | | FDS | 2.144% | | | | MOH | 1.909% | | | | EPAM | 1.648% | | | | CDAY | 1.471% | | | | AJG | 1.305% | | | | |
| | |  | | After recouping all that was lost in the prior bear market, the S&P 500 went on to climb an additional 5.2% over the next 2.4 months before succumbing to another decline of 5% or more, averaging -8.2%. The good news is that after the S&P 500 recovered all that was lost in the prior bear market, none of these subsequent declines became a new bear market. The bad news, however, is that this post-[all-time-high] advance might be very short-lived, since four times the market stumbled almost immediately after recovering its prior bear market loss. | | - Sam Stovall, analyst at CFRA Research, on how the market is trending towards making a new all-time nominal high in the coming weeks. When that happens, on average, stocks rise another 5 percent from that level, before seeing a quick decline of 5 percent or more to re-test that old high. | |
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