 | | |  Good morning. The S&P 500 fell just shy of 5,000 in intraday trading on Wednesday. Traders have been eying the 5,000 level for a few weeks. Aside from the fact that it's a large, even number, there's no real importance to the number. With big tech earnings now fading, stocks may have trouble holding onto that 5,000 level over the next few weeks.
If that's the case, it's par for the course for an election year. Typically, such months see a rally in January (continuing from the prior year), followed by a pullback in February and into March, before rallying into the summer. If that's the case, investors may want to hold off buying for now, and traders may want to eye some stocks that could fall heavily on a short-term pullback.
Now here's the rest of the news: | | | | | |
| | |  | DOW 38,726.33 | +0.13% | | | | | S&P 4,997.91 | +0.06% | | | | | NASDAQ 15,793.71 | +0.24% | | | | | *As of market close | | | • | Markets inched higher on Thursday, with the S&P 500 still almost touching 5,000. | | | • | Oil jumped 3.5 percent, closing at $76.48 per barrel. | | | • | Gold dipped 0.2 percent, ending at $2,048 per ounce. | | | • | Cryptocurrencies trended higher, with bitcoin at $45,499 at the stock market close. | | | | | | | |
| | | Companies With Strong Growth Can Continue Trending Higher | | | | While the market may take a pause in the coming weeks based on seasonal trends, it's clear from earnings season that many companies are growing. And that they can continue to do so.
That's growth as measured by an increasing number of customers or an increasing number of sales. With investors still worried about the economy, companies delivering real growth can likely trend higher, and be a solid buying opportunity in the coming weeks.
» FULL STORY | | | | |
| | Insider Activity Report: Aflac (AFL) | | | | Karole Lloyd, a director at Aflac (AFL), recently bought 1,000 shares. The buy increased her position by 2 percent, and came to a total cost of $77,280.
Her buy came a day after another director bought 1,500 shares, also increasing his position by 2 percent. That buy came to a total cost of $114,000. These two buys are the first since last April. Otherwise, company executives and directors have been regular sellers of shares.
» FULL STORY | | | | |
| | Unusual Option Activity: Microsoft (MSFT) | | | | Tech giant Microsoft (MSFT) is trading near all-time highs after soaring 52 percent over the past year. One trader sees shares making a quick pullback in the coming weeks.
That's based on the March 1 $410 puts. With 21 days until expiration, 13,305 contracts traded compared to a prior open interest of 254, for a 52-fold rise in volume on the trade. The buyer of the puts paid $5.50 to make the bearish bet.
» FULL STORY | | | | |
| | • | Companies Fearful for Economic Shock
Americans are gradually spending more and data shows that consumers are getting more bullish about the economy. However, corporate America is still preparing for a rainy day, at least based on the rising levels of cash on corporate balance sheets. The rising cash may also reflect today's relatively high interest rates. | | | | • | Disney Takes $1.5 Billion Stake in Epic Games
Media giant The Walt Disney Company (DIS) is expanding into gaming, with a $1.5 billion investment in Epic Games, the studio behind Fortnite. This marks Disney's largest foray into the gaming space, and they have previously collaborated with Epic to bring Disney characters into Fortnite. | | | | • | NYCB Moves to Stabilize Business
New York Community Bancorp (NYCB) has seen shares get crushed following its earnings. However, the company is moving to make some changes, including moving the company's board chairman into the CEO role, to stem further losses. The bank also reports that they have seen deposits rise in recent days. | | | | • | Apple Developing Foldable iPhone
Consumer tech giant Apple (AAPL) is working on a foldable version of its iPhone. The folding phone market is relatively small, and the company's recent launch of the Vision Pro is allowing Apple more ways to consider how to reimagine its existing tech offerings. | | | | • | America's Most Expensive Home Lists for $295 Million
The most expensive home in the United States has just listed for $295 million. The property is a 9-acre compound on the waterfront in Naples, Florida. If the property sells at the asking price, it will set a new record. The property was originally developed in the 1980's by a financier. | | |
| | | | TOP | | | RL | 16.794% | | | | MPWR | 14.202% | | | | DIS | 11.499% | | | | WRK | 8.082% | | | | NWS | 6.759% | | | | BOTTOM | | | PYPL | 11.243% | | | | SNA | 9.667% | | | | FLT | 9.202% | | | | RXO | 7.696% | | | | EG | 7.652% | | | | |
| | |  | | The good news has come in, and the U.S. economy is continuing to show incredible robustness. At the same time, we still see signs of disinflation" and "sticky growth," which is a "positive backdrop for the Fed at some point to cut interest rates this year. | | - Nancy Curtin, chief investment officer at AlTi Tiedemann Global, on why conditions are perfect for a continued market rally this year (although there will be some dips along the way). | |
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