Tech bubble 2.0 continues to quietly burst amidst the backdrop of a market near all-time highs. Besides struggling companies that went public this year in the ride share and plant-based meat alternative space, there's the failed attempt of companies like WeWork to even get to an IPO.
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| |  Good morning.. The U.S. trade deficit shrunk from $55 billion to $52.5 billion. While it may not sound like much, it's the biggest drop in the deficit in over three years, and it's a 6.5 percent improvement year-over-year.
But the real surprise? For the first time in 41 years (since 1978), the United States exported more oil than it imported, showing a trade surplus of $252 million for petroleum in September. That's a huge shift, and a relief for anyone concerned about the dangers of being dependent on foreign oil. It's also an achievement made possible by capitalism and technological developments like shale production.
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 | DOW 27,492.73 | +0.11% | | |
 | S&P 3,074.69 | -0.12% | | |
| NASDAQ 8,434.68 | +0.02% | | |
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| *As of market close |
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| • | Stocks closed flat yesterday, on mixed earnings and macroeconomic data. | | | • | Oil rose 1.1 percent, to $57.14 per barrel. | | | • | Gold dropped 1.6 percent, to $1,486 per ounce. | | | • | Cryptocurrencies likewise traded flat, with Bitcoin trading at $9,370. | | |
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| Three Stocks Company Insiders Can't Get Enough Of | |
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Insider investing is a great tool. It can cut through a lot of the market noise, and get down to the brass tacks of investing: Where can a profit be made?
After all, corporate insiders, like a CEO, CFO, and others, have a lot of knowledge about a company, far more than what's disclosed in quarterly earnings reports. When they buy their own shares, it's for one reason only: Shares are undervalued and likely to move higher.
» FULL STORY |
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| Insider Trading Reports: FedEx Corp. (FDX) | |
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Director John Edwardson made a 10,000 share buy at FedEx (FDX), paying just over $154,000. This is the second insider buy since September, and insider data over the past two years shows many insider sales at higher prices, with some insider buys stepping up in the past year as shares have lagged.
With shares of the global shipping company still down 25 percent in the past year, widely underperforming the market, the step up in insider buying looks attractive.
» FULL STORY |
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| Unusual Options Activity: JP Morgan Chase (JPM) | |
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June 2020 $160 call options on JP Morgan Chase (JPM) saw heavy trading, with over 1,400 contracts trading against a prior open interest of 100. The bet, with shares at $130, is for a $30 rise in the next 226 days—or a 12.3 percent jump in price.
That's certainly achievable, given reports that the big bank readjusted its portfolio out of $130 billion in cash and into bonds.
» FULL STORY |
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| TOP | | | KR | 11.365% | | | | IFF | 8.427% | | | | REGN | 6.932% | | | | UA | 5.635% | | | | M | 5.426% | | | | BOTTOM | | | MYL | 9.878% | | | | BDX | 5.378% | | | | OXY | 5.245% | | | | IDXX | 5.207% | | | | IQV | 4.512% | | | |
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| As an investor, you have to have a view on the election because the outcomes are so extreme. I've never seen this kind of polarity in elections as we have now… I would say who the next president is is also going to have a huge impact on the economy and the stock market, particularly asset pricing. |
- Billionaire investor Paul Tudor Jones on the election and the stock market, explaining why he sees a 25 percent drop if Elizabeth Warren is elected, but another 15 percent boost if President Trump is reelected.  |
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