| | | | DOW 36,117.38 | +0.17% | | | | S&P 4,585.59 | +0.80% | | | | NASDAQ 14,339.99 | +1.37% | | | | *As of market close | | • | Stocks rallied on Thursday, ahead of today's jobs report. | | • | Oil rose 0.4 percent, closing at $69.67 per barrel. | | • | Gold dipped 0.1 percent, to $2,045 per ounce. | | • | Cryptocurrencies trended lower, with Bitcoin trading at $43,275 at the stock market close. | | | | | | | | | | For Volatile Sectors, Look for Companies with Strong Cash Flows | | | | Some sectors are secular, which offer a long-term growth trend. That's where growth stocks such as those playing to the AI trend have seen great results this year. Other sectors are cyclical, leading to some years with great returns, followed by poor ones. However, knowing how to play the cycle can lead to great returns for those looking to buy and hold for a few months to a few years. Investing in beaten-down leaders with strong cash flows is the key. » FULL STORY | | | | | | Insider Activity Report: Big Lots (BIG) | | | | Christopher McCormick, a director at Big Lots (BIG), recently bought 12,000 shares. The buy increased his holdings by 31 percent, and came to a total cost of $75,480.
This marks the first insider activity since June, when two company EVPs and a director bought a combined 23,000 shares. Going further back, the company's President and CEO was a buyer in May for 51,000 shares. And the last insider sales occurred in April 2022. » FULL STORY | | | | | | Unusual Options Activity: Truist Financial Corporation (TFC) | | | | Regional bank Truist Financial Corporation (TFC) has lost 20 percent of its value over the past year as interest rates have continued to rise. One trader is betting on a move higher in the coming months. That's based on the February 16, 2024 $35 calls. With 70 days until expiration, 10,205 contracts traded compared to a prior open interest of 176, for a 58-fold rise in volume on the trade. The buyer of the calls paid $1.15 to make the bullish bet.
» FULL STORY | | | | | | • | Home Affordability Drops to 11 Year Low
A new report from Redfin indicates that 2023 will be the least affordable year for homebuying since 2012, an 11-year low. The hardest-hit markets for affordability are in California's metro regions, while the most affordable regions are in the Midwest. Conditions are expected to improve next year. | | | | • | China's Real Estate Problems May Spill into Broader Economy
The past few years has seen a slowdown in real estate development and prices in China, which has led to some lenders going bust. Rising concerns over those ongoing issues could spill over into the rest of the Chinese economy, particularly as considerable real estate investments were made by the country's so-called "shadow banking" system. | | | | • | McKinsey Partner Class Shrinks
Consulting firm McKinsey reports that about 250 employees will become partners this year, down from 380 last year, or a 35 percent. That's one sign that a slowdown in corporate spending is underway, which could also signal a slowing economy and job market. | | | | • | EV Valuations Drop 80 Percent
The market cap of electric vehicle companies has plunged an average of 80 percent from its 2021 peak, according to a new study. The decline is being attributed to a number of factors, from the massive EV stock rally starting in 2020, to higher interest rates, to a slowdown in demand for electric vehicles. | | | | • | Meta Rolls Out Messenger Encryption
Meta Platforms (META) is rolling out end-to-end encryption for its Messenger service. The feature prevents third-party entities from having access to the content of a chat. The development comes after years of limited tests on the feature. The encryption will apply to both chats and calls, but will be an opt-in feature for group chats. | | | | | | TOP | | DISH | 9.47% | | | AMD | 9.369% | | | WBD | 7.847% | | | KVUE | 7.839% | | | GOOGL | 5.488% | | | BOTTOM | | HES | 3.001% | | | ORLY | 2.852% | | | AZO | 2.528% | | | NDAQ | 2.355% | | | TTWO | 2.183% | | | | | | | | | Where we are now, it's almost seeing exactly what the Fed wanted to have. It's almost like the perfect Goldilocks scenario for what they have been working at throughout the year. Clearly the soft landing scenario seems to be the most plausible case. | | - Omar Aguilar, CEO and chief investment officer of Schwab Asset Management, on how the economy's slowdown shows that the economy may be able to win the fight against inflation without a major recession, the ideal scenario that the Federal Reserve has been aiming for with its interest rate hikes. | | |
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