↙ Crude Oil Inventory Sees Large Drop Despite Record Production

If you're looking for a new job—and in this market it isn't a bad idea to shop around and get a boost in pay—beware the dark side of career-related sites. The New York Times has reported that Chinese agents have been using Microsoft-owned LinkedIn for recruiting purposes.

Good morning. If you're looking for a new job — and in this market it isn't a bad idea to shop around and get a boost in pay — beware the dark side of career-related sites. The New York Times has reported that Chinese agents have been using Microsoft-owned LinkedIn for recruiting purposes. The specific targets include academics and recent departures from government jobs. Using the guise of corporate headhunters, Chinese agents are able to start building up a relationship with the promise of speaking and consulting work. So if you're looking for international intrigue, consider some creative twists on your LinkedIn profile. Who said a job search had to be boring? You can also find the hottest, most up-to-date trading information by visiting our Instagram. We share everything we know here, including hot stock tips, trending investment news, and even full-length videos that cover critical investment strategies. Our most recent post just went live right here. 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MARKETS DOW 26,036.10 +1.00% S&P 2,887.94 +0.65% NASDAQ 7,856.88 +0.38% *As of market close • Stocks bounced around Wednesday in early trading, before rallying into the end of the day. • Oil moved higher 1.8 percent, to $55.92 per barrel. • Gold dropped 0.2 percent, trading under $1,550 per ounce. • Cryptocurrencies took a big dive, with bitcoin dropping under $9,700. Today's TOP TIPS Crude Oil Inventory Sees Large Drop Despite Record Production EIA petroleum inventories for the week indicated a sharp drop in inventory of 10 million barrels. With a 2.7 million drop in the prior week and with a consensus for a 2 million barrel decline, the decline was five times larger than expected. Gasoline saw a 2.1 million barrel decline, against expectations for a 0.4 million barrel decline. Last week, gasoline inventories rose by 0.3 million barrels. » FULL STORY Deutsche Bank Sees Short-Term Rally In JetBlue (JBLU) On Wednesday, Deutsche Bank released a bullish rating on airline firm JetBlue (JBLU). The bank cited several short-term catalysts on the company, whose shares are down 13 percent in the past six weeks. The bank specifically cited the company's valuation, which is now less than 7 times earnings expectations for 2020, and well below the company's historic 10-year forward PE average of 10.4 times earnings. » FULL STORY Insider Activity: Bar Harbor Bankshares (BHB) On Tuesday, August 27th, director Scott Toothaker picked up 5,371 shares of Bar Harbor Bankshares (BHB). The buy increased his stake by 22 percent, to just over 29,500 shares. The purchase totaled just over $116,000. Insiders at the bank have been buyers year-to-date, with many purchases occurring at prices as much as 18 percent higher than where shares currently trade. The last insider sale occurred in 2018, but has been far lower than the total insider buys year-to-date. » FULL STORY Unusual Options Activity: Freeport McMoRan (FCX) On Wednesday, over 15,000 contracts traded on February 2020 $8 put options on Freeport McMoRan (FCX), one of the world's leading copper giants. With an open interest of around 1,000 contracts prior to the trade, the volume in the option has surged 15-fold. Shares of the copper mining company currently trade around $8.80, making the $8 strike price on the put option a bet on the share price dropping at least 10 percent from here. » FULL STORY IN OTHER NEWS • The British pound drops on rising expectations of a no-deal Brexit and a proposed suspension of Parliament. • Low interest rates may be masking America's ability to handle our massive deficits. • Rising correlations between different assets may make it difficult to find a safe-haven investment. • A drop in spending by the ultra-wealthy provides another recession warning. • Despite the rise of automation, America may still face a worker shortage. • One year later, the Bayer-Monsanto deal ranks as one of the worst corporate mergers in history. • Shares of Costco head higher following large lines leading to an early closure at its first mainland China location. • In tech, ThoughtSpot raises $248 million in funding at a $1.95 billion valuation. • In earnings, Tiffany reports a drop in revenue due to ongoing unrest in Hong Kong. • Beauty brands company Coty reports a wider-than-expected loss following a $3 billion write-down. S&P 500 MOVERS TOP XEC 10.55% COTY 6.023% FANG 4.612% HAL 3.986% NOV 3.846% BOTTOM ADSK 6.744% FTNT 3.723% ANSS 3.27% ADBE 2.529% RE 2.46% Quote of the Day Even in their current distorted form, we still have markets that allow some independent judgement on what is and isn't revealed truth. And the truth negative yields reveal is an economic and central banking paradigm that no longer works, and which must change somehow. - Analyst Michael Every of Rabobank on the inverted yield curve and rise of negative bond yields Sponsored Content FREE SESSION: The "Flipping Stocks" Method A new and unconventional way to "flip stocks" is quickly catching on across the country. And the man who developed this method has made nearly $25 million with it. What he's teaching could help even novice investors earn an extra $15,000 in the next 30 days alone. And he recently got on camera near his home in Florida to explain exactly how it works. 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