Good morning. Every year, companies face shareholders during annual meetings. As many executives will also take questions from shareholders, it can often garner media attention as well.
 | | Good morning. Every year, companies face shareholders during annual meetings. As many executives will also take questions from shareholders, it can often garner media attention as well.
It's usually dry and non-political. But that's changing. At this year's annual meeting, Wal-Mart got to listen to Vermont senator and avowed socialist Bernie Sanders make the pitch for paying its workers $15 an hour.
Considering that Wal-Mart in particular has been in favor of higher minimum wages in the past—they can afford them while mom-n'-pop retail operations can't—the senator should have done some basic research before attending. Federal minimum wage is $7.25 an hour. Wal-Mart starts payment at $11.00. | | |
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| | |  | DOW 30, 25,539.57 | +207.39% | | | | S&P 2,826.15 | +22.88% | | | | NASDAQ 7,575.48 | +2.65% | | | | | *As of market close | | | • | Stocks continued higher with all quiet on the trade war front and the bullish news Tuesday that the Fed may cut rates to support the economy, should it weaken, despite soft jobs numbers. | | | | • | Oil inventories continued to show a rise, reflecting higher production, lower demand, and a potential sign of weakness in the economy. | | | |
| | | Markets Continue Gains Despite Soft Jobs Numbers | |  | | Unemployment fell to 3.6 percent, but jobs growth was slower than expected. | | Markets continued higher on Wednesday, adding to their gains from Tuesday.
However, economic news was far from good. Payroll data came in weaker than expected, showing that the economy could be slowing down.
Given the low rate of unemployment right now, however, slowing job growth could simply reflect an economy running at full speed. That kept stocks from selling off despite the headline payroll data.
» FULL STORY | | | | |
| | Oil Prices Slump on Inventory Build | |  | | Oil prices continue sliding into summer driving season. | | Crude oil prices dropped to five-month lows on Wednesday. This followed a report from the EIA showing that oil inventories rose more than expected last week.
In total, inventories rose by 6.8 million barrels, compared to expectations for a 900,000 barrel decline. This build in inventory was in line with data released on Tuesday from the API, which also showed a rise in stockpiles.
Oil prices tend to reflect energy demand. An inventory build suggests lower demand and a potential danger to the economy.
» FULL STORY | | | | |
| | | | Insider Activity: American Airlines (AAL) |  | | Half a dozen insiders get bullish on American Airlines this week. | | Six different insiders bought near the recent market bottom for American Airlines (AAL).
From the Chairman and CEO, to the company President to several Executive Vice Presidents, over $2.4 million in shares were bought by insiders on Tuesday, just before shares started rallying.
The largest buy came from CEO Douglas Parker, who bought 50,000 shares, spending over $1.4 million alone. Based on the price he paid per share, he fared the worst among insiders so far.
» FULL STORY | | | | |
| | Unusual Options Activity: Target (TGT) | |  | | Traders make a big bet on Target shares rallying into the fall. | | At least one trader is betting on a big rally in retailer Target (TGT).
On Wednesday, a large number of contracts traded on a September $95 call option. With shares trading around $86, this represents a bet that shares will move up at least 10 percent over the summer.
The option contract had over 10,000 trades, against an open interest of 104.
» FULL STORY | | | | |
| | | | TOP | | | CPB | 10.024% |  | | | | CRM | 5.059% | | | | | BF.B | 4.817% | | | | | MSCI | 4.301% | | | | | UAA | 4.292% | | | | | BOTTOM | | | XEC | 5.382% |  | | | | OXY | 4.548% | | | | | HAL | 3.506% | | | | | NOV | 3.471% | | | | | NCLH | 3.465% | | | | | |
| | |  | | US employment is at a high, the labour market is tightening, there is minimal real inflation and the stock market is off to the races because the Fed says its ready to ease if trade tensions impact the stock market economy. In 35 years of markets, this is perhaps the stupidest moment I've ever seen. | - Shard Capital strategist Bill Blain  | |
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