| | | | DOW 37,689.54 | -0.05% | | | | S&P 4,769.83 | -0.28% | | | | NASDAQ 15,011.35 | -0.56% | | | | *As of market close | | • | Markets trended lower on Friday, but still ended the week, month, and year higher. | | • | Oil dropped 0.5 percent, closing at $71.42 per barrel. | | • | Gold slid 0.5 percent, ending trading at $2,073 per ounce. | | • | Cryptocurrencies generally declined, with bitcoin at $42,065 at the stock market close. | | | | | | | | | | Investors Are Already Targeting This Winning Theme for 2024 | | | | While 2023 was the year of AI, the new year brings the opportunity for a new investment idea to take the lead. One potential leader this year is the cryptocurrency space. 2023 ended with the view that the SEC would soon approve a bitcoin ETF. Add in this year's halving activity, and there could be a massive supply shock that sends bitcoin prices soaring. And where bitcoin goes, other cryptos will follow. That's why many cryptos soared in the final weeks of last year. » FULL STORY | | | | | | Insider Activity Report: FedEx (FDX) | | | | Amy Lane, a director at FedEx (FDX), recently bought 200 shares. The buy increased her holdings by 6 percent, and came to a total cost of $50,643. This is the first insider buy at FedEx since April, when another company director bought 1,080 shares, paying just over $249,000. Otherwise, a few company insiders have been sellers over the past year, entirely following the exercise of stock options. » FULL STORY | | | | | | Unusual Options Activity: Hilton Worldwide Holdings (HLT) | | | | Hotel owner and operator Hilton Worldwide Holdings (HLT) rose 44 percent in 2023, amid a strong demand for travel and tourism. One trader sees shares continuing to trend higher in the first quarter of 2024. That's based on the April $175 calls. With 109 days until expiration, 16,003 contracts traded compared to a prior open interest of 270, for a 59-fold rise in volume on the options trade. The buyer of the calls paid $14.70 to make the bullish bet.
» FULL STORY | | | | | | • | Mortgage Rates Continue Their Slide
Rates for a 30-year fixed-rate mortgage slid to 6.61 percent in the last week of 2023, a decrease over the prior week, and the lowest level since May. Interest rates peaked in late October near 8 percent, a 15-year high, before starting their recent pullback. Declining interest rates later this year could lead to further declines in mortgage rates. | | | | • | Chinese Banks Cut Deposit Rates
Five of China's largest banks cut deposit rates offered to savers last week. The move indicates that China's central bank will likewise cut interest rates soon. Such a move is designed to discourage savings, and encourage spending, which in turn would boost economic growth. | | | | • | L'Oreal Heiress Hits $100 Billion Net Worth
Francoise Bettencourt Myers has become the first women to hit a net worth of $100 billion. The heiress to the L'Oreal fortune has seen shares rise 35 percent this year, amid a splurge in luxury product spending. Bettencourt Myers is listed as the 12th richest person on earth, according to the Bloomberg Billionaire's Index. | | | | • | Boeing Urges Airlines to Inspect 737 Max
Airplane manufacturer Boeing (BA) is asking airlines to inspect 737 Max planes, looking for a "possible loose bolt" in the plane's rudder control system. Inspections for the potential defect could take up to two hours. This is the latest quality issue to impact the new jetliner model, which has become Boeing's best-seller. | | | | • | India to Block Popular Crypto Exchange Sites
India's Financial Intelligence Unit has declared that nine global crypto exchanges are operating illegally in the country, as they are not in compliance with the local anti-money laundering act. The exchanges include major players Binance, Kraken, and Kucoin, among others. | | | | | | TOP | | BSX | 2.718% | | | MOH | 1.372% | | | HSY | 1.266% | | | MCK | 1.198% | | | KR | 1.196% | | | BOTTOM | | ALB | 3.313% | | | WBD | 2.652% | | | PYPL | 2.647% | | | UBER | 2.487% | | | BXP | 2.474% | | | | | | | | | What we're seeing now is the market exhibit extreme resilience. We have every chance in the world for the market to fall and it refuses to fall in a meaningful fashion. That tells me that the bulls remain in clear control. | | - Adam Sarhan, CEO of 50 Park Investments, on the market's strong performance during the holiday season, as the Santa Claus rally scenario played out perfectly, a sign that the rally may have more room to run in early 2024. | | |
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