 | | |  | DOW 38,001.81 | +0.36% | | | | | S&P 4,850.43 | +0.22% | | | | | NASDAQ 15,360.29 | +0.32% | | | | | *As of market close | | | • | Markets continued higher on Monday, with the Dow hitting 38,000 for the first time. | | | • | Oil rose 2.2 percent, closing at $75.01 per barrel. | | | • | Gold dipped 0.4 percent, ending trading at $2,022 per ounce. | | | • | Cryptocurrencies slid, with bitcoin at $39,974 at the stock market close. | | | | | | | |
| | | This Sector's Rally Has More Room to Run this Year | | | | Homebuilder stocks have had a strong winning streak lately. The housing market as a whole has been frozen over the last year. Rising mortgage rates have kept existing homeowners from looking to change houses.
That's resulted in most home sales coming from new, rather than existing, homes. And it's allowed homebuilder stocks to soar. Now, with interest rates potentially coming down, they could continue that winning streak in the months ahead.
» FULL STORY | | | | |
| | Insider Activity Report: FB Financial Corporation (FBK) | | | | James Ayers, a major holder of FB Financial Corporation (FBK), recently added 2,000 shares. The buy increased his holdings by less than 1 percent, and came to a total cost of $70,580.
Ayers was the last insider buyer with a 6,500 share pickup last August, totaling just under $199,000. Ayers made a dozen buys last year. Two company directors have also bought shares in the past year, with one of them spending just over $401,000 in total.
» FULL STORY | | | | |
| | Unusual Option Activity: Transocean (RIG) | | | | Offshore drilling service provider Transocean (RIG) is down 10 percent over the past year, amid a decline in energy prices. One trader sees a rebound in the months ahead.
That's based on the August $6 calls. With 205 days until expiration, 11,794 contracts traded compared to a prior open interest of 205, for a 58-fold rise in volume on the trade. The buyer of the calls paid $0.64 to make the bullish bet.
» FULL STORY | | | | |
| | • | Worker Restlessness Increases as Labor Market Tightens
85 percent of professional workers say they're looking to switch jobs, up from 67 percent in 2023. However, companies are offering less increases in pay and office flexibility compared to the past two years, leading to a decline in actual movement among white collar workers. | | | | • | UBS Predicts Strong Year for Gold
Swiss bank UBS Group (UBS) predicts that gold will rise 10 percent this year, to about $2,250. The metal has been declining in recent weeks, as investors have noted cooling inflation and in anticipation of interest rate cuts by central banks, notably the Federal Reserve, later this year. Geopolitical and market uncertainty will likely contribute to the move higher. | | | | • | Musician's Union Prepares for Hollywood Strike
The American Federation of Musicians (AFM) is negotiating a new contract with Hollywood producers this week. The 70,000 member union has hinted that it may go on strike if key terms, including increased wages and protection from the use of artificial intelligence (AI) are not met. | | | | • | Macy's Rejects Buyout Bid
Department store chain Macy's (M) has rejected an unsolicited buyout offer from a private equity firm over the weekend. The buyout was valued of $5.8 billion. That's a premium of about $1 billion from the $4.8 billion value the company carried on Friday's close. Shares rose slightly on the news, and further bidding may occur in the months ahead. | | | | • | Hackers Breach Microsoft to Find Data on Hackers
Hacking group Midnight Blizzard, allegedly sponsored by the Russian government, has breached corporate email accounts at Microsoft (MSFT), according to the tech giant. The hacker group was specifically looking for information about what Microsoft knows about the hacker group. | | |
| | | | TOP | | | VFC | 4.965% | | | | ALB | 4.881% | | | | SNPS | 4.717% | | | | JBHT | 4.459% | | | | WDC | 4.072% | | | | BOTTOM | | | ADM | 24.197% | | | | GILD | 10.15% | | | | BG | 4.23% | | | | CCL | 3.982% | | | | AMD | 3.472% | | | | |
| | |  | | Multiples rise coming out of economic slowdowns, because investors are pricing in a recovery. If that recovery doesn't materialize, then you do have to question the sustainability of not only holding on to new highs, but making new highs beyond that. | | - Matt Stucky, chief portfolio manager at Northwestern Mutual Wealth Management, on why the market may pause now that it's made new all-time highs, as investors digest the latest economic data to ensure the rally can continue. | |
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