| | | | DOW 38,627.99 | -0.37% | | | | S&P 5,005.57 | -0.48% | | | | NASDAQ 15,775.65 | -0.82% | | | | *As of market close | | • | Markets were closed yesterday, in observation of President's Day. | | | | | | | | | | | This Unloved Commodity Play May Be Forming a Bottom | | | | Commodity markets make big moves both higher and lower. Those moves can last for years. Sometimes, there's a broader trend that can push a commodity market in one direction or another. Right now, the lithium market is out of favor. The biggest driver of demand is for electric vehicles (EVs). With a number of automakers scaling back EV plans, lithium prices have been dropping. But there are some signs of a turnaround. » FULL STORY | | | | | | Insider Activity Report: Mr. Cooper Group (COOP) | | | | Michael Weinbach, President at Mr. Cooper Group (COOP), recently bought 17,000 shares. The buy is a new position for the President, and it came to a total cost of $1,209,720.
This marks the first insider buy over the past two years. The company CEO has been a regular and steady seller of shares, with over a dozen sales amounting to 2-4 percent of his potion nearly monthly. » FULL STORY | | | | | | Unusual Options Activity: Antero Resources (AR) | | | | Oil and gas exploration firm Antero Resources (AR) is down 23 percent over the past year, as energy prices have been trending lower. One trader sees further downside in the coming weeks. That's based on the April 2024 $22 puts. With 58 days until expiration, 6,411 contracts traded compared to a prior open interest of 141, for a 45-fold rise in volume on the trade. The buyer of the puts paid $0.96 to make the bearish bet.
» FULL STORY | | | | | | • | U.S. Government About to Spend More in Debt Interest than Defense
A combination of massive debts totaling over $34 trillion, combined with rising interest rates, are leading to soaring debt costs for the U.S. government. The country is now on track to spend more on interest payments on the debt than on national defense. All told, the U.S. government will be on track to spend an additional $1.1 trillion in interest over the coming decade. | | | | • | Gasoline Prices Tick Higher
Gas prices rose to a national average of $3.28 per gallon last week, according to data from the AAA. That's a rise of 11 cents over the prior week. Gas supplies are being limited by refinery outages, even as overall oil prices have held steady under $80 per barrel. | | | | • | Toast to Lay Off 10 Percent of Workforce
Restaurant management software company Toast (TOST) is laying off about 550 employees, or 10 percent of staff. The company announced the layoffs during its earnings, which the company beat. Toast also announced at the same time, as well as the introduction of a share buyback program. | | | | • | FTC Looking to Modify Deepfake Rule
The Federal Trade Commission (FTC) is looking to modify a rule that bans the impersonation of businesses or government agencies to cover all consumers. That would prevent fraudster from using AI tools to impersonate any individual, including the use of voice cloning. | | | | • | Cryptocurrency Market Cap Nears $2 Trillion
The rise of cryptocurrency prices over the past few weeks has sent the entire space to a market cap of about $2 trillion, its highest level in about two years. Many cryptocurrencies, including bitcoin, have been on the rise as interest in digital assets has increased following 2022's drop. | | | | | | TOP | | AMAT | 6.235% | | | VMC | 5.329% | | | DG | 4.762% | | | ALB | 4.136% | | | TRGPEPAM | 3.629% | | | BOTTOM | | DLR | 8.748% | | | ADBE | 7.186% | | | PARA | 4.567% | | | UBER | 3.889% | | | CARR | 3.836% | | | | | | | | | The seesaw market is really reflective of this tug-of-war between high sticky inflation — which suggests no near-term rate cuts — and strong earnings and other signs of a robust economy, which underscores investors belief that there's more growth ahead for stocks. | | - Greg Bassuk, chief investment officer at AXS Investments, on the market's back-and-forth trading in the past week as inflation has continued to show some signs of strength. | | |
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