| | | | DOW 38,627.99 | -0.37% | | | | S&P 5,005.57 | -0.48% | | | | NASDAQ 15,775.65 | -0.82% | | | | *As of market close | | • | Markets sank on Friday, as inflation data came in hotter than expected. | | • | Oil rose 1.4 percent, closing at $79.12 per barrel. | | • | Gold rallied 0.5 percent, ending at $2,024 per ounce. | | • | Cryptocurrencies traded mixed, with bitcoin at $51,861 at the stock market close. | | | | | | | | | | There Are Always Overlooked Opportunities in Out-of-Favor Sectors | | | | With so much focus on tech stocks over the past year, other sectors of the market look like a relative bargain. Many companies have been improving their earnings and revenues. But being in an out-of-favor sector means shares may become a better value. One such sector is the defense sector. It tends to perform well over time. And with rising global tensions, it could see further solid returns this year. » FULL STORY | | | | | | Insider Activity Report: Banc of California (BANC) | | | | James Barker, a director at Banc of California (BANC) recently added 10,000 shares. The buy increased his holdings by 6 percent, and came to a total cost of $131,590.
The director was the last buyer of shares with another 10,000 share pickup last September. A cluster of company insiders were buyers last May, following the selloff in the bank's shares. There have been just two insider sales over the past year. » FULL STORY | | | | | | Unusual Option Activity: Carvana (CVNA) | | | | Used car e-commerce firm Carvana (CVNA) is up nearly 400 percent over the past year. One trader is betting on a further rally ahead. That's based on the May $45 calls. With 87 days until expiration, 21,757 contracts traded compared to a prior open interest of 296, for a 74-fold rise in volume on the trade. The buyer of the calls paid $18.37 to make the bullish bet.
» FULL STORY | | | | | | • | Retail Sales Slow in January
U.S. retail sales fell by 0.8 percent in January, according to data from the Commerce Department. The reversal breaks two months of increases, and is well in excess of expectations for a 0.1 percent decline. Gas stations and home improvement stores saw the biggest drops, with a 1.7 and 4.1 percent decline, respectively. | | | | • | Chinese Stocks Become Value Play Amid Stalled Economy
China's economy was expected to grow faster in 2023, as the country fully ended its harsh pandemic-era lockdowns. Instead, growth has been tepid, consumer confidences has slid, and the country is at its worst economic performance in 40 years. That's leading some to see the country as a potential value investment. | | | | • | Wells Fargo Resolves Fake Account Scandal Complaint
Megabank Wells Fargo (WFC) saw shares soar last week, as the Office of the Comptroller of the Currency reported that it had closed the 2016 consent order placed on the bank for opening fake accounts. The bank has made sufficient progress in revamping its system to guard against customer harm. | | | | • | Microsoft to Bring Xbox Games to Other Consoles
Tech giant Microsoft (MSFT) will release four video games on alternative consoles. The company acquired Activision Blizzard for $75 billion last October, and gaming now accounts for 11 percent of the company's revenues. The company has not specified which of the four games will be released on other consoles. | | | | • | Lucid Motors Cuts Cheapest EV Price By Over $8,000
EV manufacturer Lucid Motors (LCID) will drop the base model of its Lucid Air Pure from $77,400 to $69,900. A similar cut is being made for the Lucid Air Touring model. Lucid sold 6,001 cars across the United States in all of 2023, and already made price changes last year. | | | | | | TOP | | AMAT | 6.235% | | | VMC | 5.329% | | | DG | 4.762% | | | ALB | 4.136% | | | TRGP | 3.629% | | | BOTTOM | | DLR | 8.748% | | | ADBE | 7.186% | | | PARA | 4.567% | | | UBER | 3.889% | | | CARR | 3.836% | | | | | | | | | There's plenty of liquidity in the system. What's interesting is that the deposit flows from all the smaller banks, there was outflows around March of 2023. And we're almost back now, with the smaller banks, at deposit levels where we were before March Madness hit. So, there really isn't a liquidity problem today. | | - Gerard Cassidy, analyst at RBC Capital, on how the regional banks look well capitalized nearly a year after trouble emerged for these institutions. | | |
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