Good morning. Declining inflation has been a trend driving markets higher over the last few...
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.
| | | | DOW 37,715.04 | +0.07% | | | | S&P 4,742.83 | -0.57% | | | | NASDAQ 14,765.94 | -1.63% | | | | *As of market close | | • | Markets closed mixed on Tuesday, the first trading day of 2024. | | • | Oil dropped 1.7 percent, closing the day at $70.45 per barrel. | | • | Gold dipped 0.2 percent, ending trading at $2,067 per ounce. | | • | Cryptocurrencies generally rallied, with bitcoin at $44,778 at the market close. | | | | | | | | | | Companies Integrating AI Now May Prove Solid Investments This Year | | | | Markets can often get ahead of themselves, particularly with tech trends. The internet boom of the 1990s led to the creation of many companies, but most of those companies died out before they could become profitable. Today, AI is garnering similar attention. But AI programs can be incorporated into existing companies across a number of sectors immediately. And it can be improved over time. Companies that have started to integrate AI now may see the benefits of that play out this year. » FULL STORY | | | | | | Insider Activity Report: CME Group (CME) | | | | William Shepard, a director at CME Group (CME), recently bought 278 shares. The buy increased his stake by less than 1 percent, and came to a total cost of $58,646.
The director was the most recent buyer with purchases in September 2023 and April 2023, each for similar amounts under $60,000. Several company directors and insiders, including the company CEO, were sellers of shares over the past year. The last buy from another insider came in December 2022. » FULL STORY | | | | | | Unusual Option Activity: Antero Resources (AR) | | | | Oil and gas exploration company Antero Resources (AR) sank 20 percent in 2023, as energy prices trended down compared to the prior year. One trader sees a move higher in the coming weeks. That's based on the February 16 $20 calls. With 44 days until expiration, 7,006 contracts traded compared to a prior open interest of 267, for a 26-fold rise in volume on the trade. The buyer of the calls paid $3.35 to make the bullish bet.
» FULL STORY | | | | | | • | Unemployment Expected to Tick Higher This Year
Economists expect that the unemployment rate will rise slightly this year. While the labor market started to slow in 2023, the past few months showed that more jobs were being created than before the pandemic. A cooling labor market would reduce the possibility of inflation resurging this year. | | | | • | Euro Likely to Gain Against Dollar
The Euro is likely to perform more strongly than the U.S. dollar this year. The extent of the move depends on which central banks moves to cut interest rates first. The Fed is expected to make 3 rate cuts this year, although the market is pricing in far more. The European Central Bank (ECB) will likely take longer, as inflation has remained higher in the Eurozone. | | | | • | Bitcoin Halving and ETF Approval Expect to Lead to Big Rally
Cryptocurrency bitcoin was the best-performing asset of 2023, rallying 160 percent. Many traders expect even better returns this year, with the potential to rally more than 1,000 percent to $500,000. That's because the bitcoin halving will reduce future supply, and the approval of a bitcoin ETF could mean a massive jump in demand. | | | | • | Disney Copyright Expires on "Steamboat Willie"
The Walt Disney Company (DIS) lost the copyright to "Steamboat Willie," the first appearance of Mickey Mouse, on January 1st. The character is now in the public domain, 96 years after the character first made its debut. The modern version of the character, Mickey Mouse, is trademarked, and not affected by the copyright expiration. | | | | • | Green Energy Jobs Expected to Rebound
Even with the layoffs that started hitting the market last year and are likely to continue this year, green energy jobs are up about 10 percent over the last two years. While startup green energy companies have been affected by rising interest rates and less investor enthusiasm, the industry is expected to continue growing and increasing its total number of jobs this year. | | | | | | TOP | | MRNA | 12.997% | | | VTRS | 4.755% | | | LVS | 4.196% | | | INCY | 4.013% | | | DG | 3.641% | | | BOTTOM | | NCLH | 9.306% | | | RCL | 8.047% | | | CCL | 6.985% | | | AMD | 6.586% | | | UBER | 5.782% | | | | | | | | | We have been surprised at the pace of growth in generative AI. Our generative AI business is growing very, very quickly. Almost by any measure it's a pretty significant business for us already. And yet I would also say that companies are still in the relatively early stages. | | - Andy Jassy, CEO of Amazon (AMZN), on how generative AI tools are still in their early stages, but are growing rapidly and will likely start to see even more traction in 2024. | | |
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