In this economy, many are looking for a second job—often dubbed a "side gig." Traditional part-time work seems to have gone by the wayside. For anyone who still is looking for one, there appear to be two places where that's possible, although not for the right reasons.
 | | Good morning. In this economy, many are looking for a second job—often dubbed a "side gig." Traditional part-time work seems to have gone by the wayside. For anyone who still is looking for one, there appear to be two places where that's possible, although not for the right reasons.
One place is Tesla Motors, where Peter Hochholdinger, its head of Auto Production and a former giant at Audi, unexpectedly quit. This isn't the first time we've mentioned an executive leaving the company, and it won't be the last. But if we're lucky, it'll be the last for this month. The other place where someone can get a high-paying temp job? The Trump administration. | | |
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| | |  | DOW 26,536.82 | +0.04% | | | | S&P 2,913.78 | -0.12% | | |  | NASDAQ 7,909.97 | +0.32% | | | | | *As of market close | | | • | Stocks traded slightly up Wednesday, on favorable comments from Treasury Secretary Steven Mnuchin on trade, but slid to unchanged at the close. | | | | • | Gold declined modestly from multi-year highs, and oil neared $60 on large inventory drops. | | | |
| | | Stocks Bounce on Mnuchin Comments, but Close Unchanged | | 
| | Early bullishness wanes and stocks close flat. | | The stock market recovered partially from its Tuesday decline on Wednesday, although trading volume was a bit slow ahead of the G20 meeting later this week.
However, a comment by Treasury Secretary Steve Mnuchin gave markets an early boost. Mnuchin stated that a trade deal with China was about 90 percent complete. While this could imply that the deal is now less than 90 percent complete, traders took the interpretation that it was nearly done.
» FULL STORY | | | | |
| | Oil Inventory Faces Largest Drawdown in Nearly Three Years | |  | | Inventories drop 10 million barrels more than expected. | | On Wednesday, oil prices surged nearly three percent after new EIA data. The data shows that domestic stockpiles plunged 12.8 million barrels for the week ending June 21. This is the largest drawdown since the 14.5 million barrel decline in September 2016.
Analyst consensus was for a drawdown of about 2.8 million barrels, or about one-fifth as much. The move sent oil higher by about 3 percent to nearly $60 per barrel.
» FULL STORY | | | | |
| | | | Insider Activity: MGM Resorts International (MGM) |  | | Fund manager makes big buy after merger announcement in the sector. | | Money manager Keith Meister continues to be bullish at MGM Resorts International (MGM), the casino firm where he already owns 20 million shares and has a board seat as a director.
On Tuesday, Meister picked up 380,651 additional shares, at a cost of about $10.59 million. This news comes after a big announced merger in the gaming space between Eldorado Resorts and Casears Entertainment.
» FULL STORY | | | | |
| | Unusual Options Activity: Micron Technology (MU) | |  | | Traders bet on drop following big earnings beat. | | Shares of Micron Technology (MU) surged over 14 percent on Wednesday thanks to a massive earnings beat.
But some traders think the stock has rallied too much. On Wednesday, a large number of contracts with unusual options activity centered around put options on Micron, with many expiring on Friday, just two trading days away.
One further out, the August 2nd $32 put options, has over a month to play out.
» FULL STORY | | | | |
| | | • | Looking to get around tariffs, companies are rerouting goods, often through Vietnam. | | | | | • | Options activity shows that traders are betting on the market rally to continue. | | | | | • | RealReal, essentially an online thrift shop, is expected to IPO tomorrow. | | | | | • | Two decades after the fall of communism, Europe's political parties start to shy away from capitalism. | | | | | • | Bombardier ditches commercial aviation, leaving the space to Airbus and Boeing. | | | | | • | Huawei still signs up 5G customers around the world, mostly in Europe. | | | | | • | J.P. Morgan increases its investment in Detroit to $200 million from $150 million. | | | | | • | Across the country in San Francisco, the city takes the final steps to ban the sale of vaping products. | | | | | • | Meme site Imgur raises $20 million from Coil. | | | | | • | President Trump slams Fed Chief Powell, saying the U.S. would be better off with ECB President Draghi instead. | | | | | • | In earnings, KB Home beats on earnings and revenue expectations, sending shares up after hours. | | |
| | | | TOP | | | MU | 13.342% | | | | WDC | 7.299% | | | | CTVA | 5.746% | | | | MPC | 5.487% | | | | INFO | 5.248% | | | | BOTTOM | | | GIS | 4.451% | | | | NRG | 4.098% | | | | NKTR | 3.842% | | | | SJM | 3.79% | | | | FRT | 3.663% | | | | |
| | Top Rated Technology Stocks |  | | | |
| | |  | | Apart from crude-oil stock trends, the focus here is also likely to be on gasoline demand" as the northern hemisphere moves into the peak summer driving season. | - Commerzbank AG analyst Carsten Fritsch on the decline in oil inventories  | |
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