Friday, December 22, 2023

👜This Trend Has Dominated Holiday Spending This Year

Good morning. While the data isn't entirely finalized yet, it's clear that online shopping has...
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.

Good morning. While the data isn't entirely finalized yet, it's clear that online shopping has become the most popular way to stock up for the holidays. Consumers are expected to spend an average of $885 on core holiday items this year, including gifts, decorations, and food. That's about a 5 percent rise compared to last year.

Most of that spending has been online this year, with about 58 percent of all spending occurring online, whether from a big box store, or the online site of a department or clothing store. That's a sign that the digital age is here to stay, and that investors and traders can still profit from opportunities that play to that part of the market.

Now here's the rest of the news:

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MARKETS
DOW 37,404.35 +0.87%
S&P 4,746.75 +1.03%
NASDAQ 14,963.87 +1.26%
*As of market close
Stocks rallied on Thursday, reversing most of Wednesday's big drop.
Oil dipped 0.4 percent, closing at $73.95 per barrel.
Gold rose 0.4 percent, ending trading at $2,056 per ounce.
Cryptocurrencies trended higher, with Bitcoin trading at $43,764 at the stock market close.

Today's TOP TIPS
This Big Tech Company Is an Overlooked AI Play Growing Revenues Now
AI has been the major market theme of 2023. It's easy to see why. AI technologies can improve a company's operations at a significantly low cost. For big-tech companies, small improvements can mean billions of dollars in extra revenues and profits.

That's why the trend has been great for big tech stocks. One big tech stock has already started to benefit from rolling out AI technology.

» FULL STORY

Insider Activity Report: Chart Industries (GTLS)
Linda Harty, a director at Chart Industries (GTLS), recently bought 1,000 shares. The buy increased her stake by 14 percent, and came to a total cost of $130,140. The director made a 500 share buy the day before.

Another company director also picked up 400 shares in the same week. Going further back, company executives and directors have been regular and steady buyers of shares, with the last insider sale occurring in September 2021.

» FULL STORY

Unusual Options Activity: SoFi Technologies (SOFI)
Credit service provider SoFi Technologies (SOFI) has more than doubled in the past year, rebounding from big losses in 2022. One trader sees shares trending lower in the next two years.

That's based on the January 16, 2026 $2 puts. With 756 days until expiration, 10,014 contracts traded compared to a prior open interest of 130, for a 77-fold rise in volume on the trade. The buyer of the puts paid $0.19 to make the bearish bet.

» FULL STORY

IN OTHER NEWS
Home Sales Rise In November

Sales of previously-owned homes rose in November, reversing a five-month downtrend, and taking sales off of a 13-year low. While it's too early to call an end to the downtrend, it could be a sign that the housing market may have more activity as mortgage rates come down from their recent peak over 7 percent.
Recession Fears Ease

Consumer confidence came in for 110.7 in December, a jump over the reading of 101 for November. The index is structured so that any number over 100 shows increasing confidence, and any number under 100 declining confidence. This is the third consecutive month confidence has risen, as fears of a recession have started to ease among consumers.
Warner Brothers Discovery Consider Merger with Paramount Global

Media giants Warner Brothers discovery (WBD) and Paramount Global (PARA) are in early talks to merge. The companies have declined to comment on their discussions, but media companies have been out of favor with markets for the past few years as ad spending has declined.
GM Buys Out Half of Its Buick Dealers

General Motors (GM) has bought out about half of its Buick dealers, or about 1,000 locations. Those dealers opted not to sell electric vehicles. Outfitting dealerships to sell and service EVs would have set those dealers back at least $300,000.
Bird Files for Bankruptcy

Micromobility startup Bird Global (BRDS) is filing for bankruptcy. The company was founded in 2017, allowing city dwellers to pay for short-erm access to electric scooters or bikes. The company went public in late 2021, at a valuation of nearly $2 billion. The company was delisted from the New York Stock Exchange earlier this year as its price is too low.

S&P 500 MOVERS
TOP
MU 8.629%
VFC 7.079%
CTAS 6.555%
FTRE 6.311%
CCL 6.198%
BOTTOM
PAYX 7.008%
PARA 2.774%
WRK 2.353%
AON 2.016%
WBD 1.458%

Quote of the Day
Markets were becoming overbought, and a pullback like this is natural given those conditions. So it was more technical than fundamental.
- Keith Buchanan, senior portfolio manager at Globalt Investments, on Wednesday's selloff as the S&P 500 hit a new intra-day 52-week high from overbought technical levels before a sharp pullback.

Sponsored Content
Safe" Investors Who Don't Get Out of Cash NOW Could Lose Everything...

If you, like so many Americans, have cash parked in one of five common places…

You need to see this former Wall Street insider's brand-new warning.

He's recommending you take three immediate steps based on what he sees coming just days from now

He says it will break the pattern seen in the last 100 years of financial bubbles, catching most investors by total surprise. 

 

Click here now to see this insider's urgent warning

(Click Before Jan. 31st ^^)


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