Good morning. 2023's market seasonality has closely followed the typical market moves in...
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 37,248.35 | +0.43% | | | | S&P 4,719.55 | +0.26% | | | | NASDAQ 14,761.56 | +0.19% | | | | *As of market close | | • | Stocks continued higher Thursday, following upbeat consumer spending data. | | • | Oil rallied 3.2 percent, closing at $71.69 per barrel. | | • | Gold rose 2.7 percent, ending trading at $2,051 per ounce. | | • | Cryptocurrencies trended higher, with Bitcoin trading at $42,941 at the stock market close. | | | | | | | | | | This Overlooked Company Is Soaring, and Will Likely Continue Higher | | | | Money follows eyeballs. That's been true since the age of the newspaper. In the digital age, applications and platforms that can get users to spend time will attract advertisers and find ways to profit. Of course, tastes can change over time. And what looks like a poor investment opportunity may change into a great one as rising users and more eyeballs on a tech platform create an opportunity. » FULL STORY | | | | | | Insider Activity Report: Ford Motor Company (F) | | | | Douglas Field, chief EV design officer at Ford Motor Company (F), recently bought 182,000 shares. The buy increased his stake by 34 percent, and came to a cost of $2.01 million. This marks the first insider buy since March, when the company's Executive Chairman spent $4.5 million to buy 267,697 shares. In the past few months, a few company officers have been sellers of shares following the exercise of stock options. » FULL STORY | | | | | | Unusual Options Activity: Cameco (CCJ) | | | | Uranium producer Cameco (CCJ) has been steadily trending higher all year, with shares up 107 percent over the past 12 months. One trader is betting on a final rally to end the year. That's based on the December 29 $52 calls. With 14 days until expiration, 20,146 contracts traded compared to a prior open interest of 136, for a 78-fold jump in volume on the option trade. The buyer of the calls paid $0.15.
» FULL STORY | | | | | | • | Retail Sales Rise for November
Retail sales rose 0.3 percent in November compared to October. That gain was well over economist expectations. And it indicates that consumers spent heavily on Black Friday and into the start of the holiday shopping season. The news helped retail stocks soar higher in trading Thursday. | | | | • | 10-Year Treasury Yields Slide Under 4 Percent
The yield on the 10-year U.S. Treasury bond dropped to 3.973 percent yesterday. That's the lowest level since August. Rising bond yields put markets under pressure in the fall, and the 10-year briefly touched the 5 percent level before declining. Investors see yields continuing lower amid an optimistic outlook for the economy. | | | | • | Backlash Grows Against Tips
Service workers have reported a 7 percent drop in tips compared to a year ago. Consumers have been scaling back, as many retailers have been pushing for increased tips, and as high inflation has raised the price of services as leisure and hospitality significantly higher. | | | | • | China Issues Bonds to Support Banking System
China's regional governments have issued over 205 billion yuan, or about $29 billion, in special bonds. The money raised is going to small and medium banks. The goal is to allow those banks to replenish their capital, and stem off risks from the country's prolonged issues in the real estate market. | | | | • | Microsoft Disrupts Cybercrime Operation
Tech giant Microsoft (MSFT) reports that it has dismantled the infrastructure of a cybercrime operation. The operation sold access to Outlook accounts to other hackers, as part of a cybercrime as a service (CaaS) system. Over 750 million fraudulent Microsoft accounts were created. | | | | | | TOP | | SEDG | 16.596% | | | MAC | 12.483% | | | ENPH | 11.718% | | | ZBRA | 11.345% | | | ALGN | 11.091% | | | BOTTOM | | AEE | 7.747% | | | EXC | 7.561% | | | AJG | 7.41% | | | EG | 6.734% | | | ADBE | 6.347% | | | | | | | | | The Fed has given the market an early holiday gift [Wednesday] when , finally, for the first time, they have commented positively about inflation. It appears that the Fed is moving in the markets direction, rather than the market moving towards the Fed. The Santa Claus rally may continue. | | - Gina Bolvin, president of Bolvin Wealth Management Group, on the Fed's meeting minutes on Wednesday, which indicates that the central bank is looking to declare victory on inflation and move ahead with some small rate cuts next year. | | |
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