| | | | DOW 36,577.94 | +0.48% | | | | S&P 4,643.70 | +0.46% | | | | NASDAQ 14,533.40 | +0.70% | | | | *As of market close | | • | Stocks continued higher on Tuesday, as inflation continued to cool. | | • | Oil sank 3.7 percent, closing at $68.67 per barrel. | | • | Gold traded flat, at $1,995 per ounce. | | • | Cryptocurrencies trended higher, with Bitcoin trading at $41,238 at the stock market close. | | | | | | | | | | This Small Tech Trend Could Return Big Results Next Year | | | | In the tech space, many moves are cyclical. A new trend pops up, then dies out, only to pick back up again in the future. Investors can do well with these trends, provided they buy at the right point, make a quick profit, and then look for the next cycle ready to move. In the tech space, the personal computer (PC) market has been out of favor. It last surged at the start of the pandemic. But thanks to the increase in AI usage, it may see a surge next year. » FULL STORY | | | | | | Insider Activity Report: The Walt Disney Company (DIS) | | | | Amy Chang, a director at The Walt Disney Company (DIS), recently bought 1,078 shares. The buy increased her stake by 21 percent, and came to a total cost of $99,918.
This is the first insider buy at the company in the past two years. Company insiders have been steady sellers, with a mix of sales following the exercise of stock options and regular sales. » FULL STORY | | | | | | Unusual Options Activity: Pfizer (PFE) | | | | Drug manufacturer Pfizer (PFE) has lost 44 percent over the past year, as the company has struggled in the current market for new drugs. One trader sees the trend continuing in the weeks ahead. That's based on the January 5, 2024 $27 put. With 23 days until expiration, 9,076 contracts traded compared to a prior open interest of 209, for a 43-fold rise in volume on the trade. The buyer of the puts paid $0.15 to make the bearish bet.
» FULL STORY | | | | | | • | Inflation Slows to 3.1 Percent
Inflation slowed to a 3.1 percent annualized rate in November, largely thanks to falling energy prices. The core price, which excludes energy and food, showed inflation at 4 percent annualized, essentially unchanged from October. The data will likely result in no change to interest rates when the Fed meets later this week. | | | | • | Milken Warns Fed Will Move Slowly
Michael Milken, the investor who popularized the use of so-called junk bonds, warns that the Federal Reserve will move slowly on monetary policy. If the central bank moves too quickly to cut interest rates, inflation may soar higher again, repeating the waves of inflation from the late 1960s to the early 1980s. | | | | • | Choice Hotels Goes Hostile in Bid for Wyndham
After being repeatedly rejected for friendly offers to acquire Wyndham Hotels (WH), Choice Hotels (CHH) is making a hostile offer for the competing chain. Wyndham has noted that any potential deal would result in a high debt load for the combined company, which could impact its ability to succeed. | | | | • | Hasbro Lays Off 1,100
Citing a slump in toy sales, Hasbro (HAS) is laying off nearly 20 percent of its workforce, or 1,100 jobs. That's on top of 800 jobs that were cut earlier this year. Layoffs will start this week, and will be carried out through the next six months. The toymaker is also selling its TV business and making other cost-cutting measures. | | | | • | Epic Games Wins Antitrust Case Against Google
A jury has sided with Epic Games, maker of Fortnite, in its antitrust case against Google (GOOG). Epic filed the lawsuit claiming that the tech giant's app store practices of focusing users to make payments through their own systems violated state and federal antitrust laws. | | | | | | TOP | | INCY | 8.406% | | | SIRI | 5.379% | | | LIN | 4.529% | | | ALK | 4.224% | | | BEN | 4.119% | | | BOTTOM | | ORCL | 12.321% | | | M | 8.33% | | | PARA | 6.158% | | | JCI | 6.081% | | | MRNA | 4.902% | | | | | | | | | No one expects a hike, but hotter-than-expected inflation readings could throw cold water on the idea that rate cuts are coming sooner rather than later. | | - Chris Larkin, head of trading and investing at E-Trade, on how today's inflation reading is unlikely to cause the Federal Reserve to hike interest rates, but why the central bank may continue to keep rates higher than the market currently expects, an outcome that could lead to a small drop in stocks this week. | | |
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