Pending home sales slipped to a four-month low in December, adding to some weakness in the housing market seen in November.
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|  Good morning, Pending home sales slipped to a four-month low in December, adding to some weakness in the housing market seen in November. While home sales rise 1.2 percent, the number came in lower than expected.
However, the numbers still look favorable to housing. Going into 2020, there's an overall gap between housing demand and supply in most markets. And, unlike most spending this time of year, housing is one area where activity scales back during the holiday season. Overall, it's part of that mixed economic picture that shows that things aren't collapsing, but there's room for further growth in the year ahead.
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 | DOW 28,462.14 | -0.64% | | |
| S&P 3,221.29 | -0.58% | | |
| NASDAQ 8,945.99 | -0.67% | | |
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| *As of market close |
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| • | Markets slid into the last full trading day of the year, breaking a long-running win streak. | | | | • | Oil dropped 0.16 percent, closing at $61.62. | | | | • | Gold declined twenty cents, , moving to $1,517.90. | | | | • | Cryptocurrencies generally dropped 1-2 percent, with bitcoin trading around $7,317. | | | | |
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| Two Plays on a Trade Recovery in 2020 | |
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The on-again, off-again trade war headlines of the past few years have been tough on a few companies. Besides technology companies and those with a heavy manufacturing presence overseas, trade and logistics companies had a tough year as well.
With high uncertainty and lower trade as a result, companies in the business of moving and shipping goods and services faced a challenging year.
These companies should make up for missing out on part of 2019's rally.
» FULL STORY |
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| Insider Trading Reports: Duff & Phelps Select MLP & Midstream Energy Fund (DSE) | |
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Charles Georgas, a portfolio manager at the Duff & Phelps Select MLP & Midstream Energy Fund (DSE), recently added 1,500 shares of the fund, upping his stake by 14 percent.
The total buy came to over $6,000, but increases his holdings to over 12,100 shares.
This is the second buy from Georgas, following a 3,000 share purchase back in November. Insiders have all been buyers with no sales in the past three years.
» FULL STORY |
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| Unusual Options Activity: Uber (UBER) | |
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The February 2020 $30 call options on Uber (UBER) saw a 19-fold rise in volume, going from 265 open options to over 5,100 contracts trade hands.
Expiring in 52 days, shares trade just under $30, making these options at-the-money. A rally in shares should send the options up dollar-for-dollar, less any loss of time premium.
With the buyer paying around $2.15, shares would need to clear $32 in late February for the option buyer to profit at expiration.
» FULL STORY |
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| TOP | | | HP | 2.498% | | | | NEM | 2.435% | | | | FTI | 1.815% | | | | M | 1.575% | | | | OXY | 1.345% | | | | BOTTOM | | | CTL | 2.385% | | | | APA | 2.374% | | | | DD | 2.26% | | | | HFC | 2.256% | | | | WU | 2.156% | | | |
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| I'm concerned about a possible melt-up here. I've been shooting for 3,500 for the S&P 500 by the end of next year, and we're getting closer. Faster than I would have expected. [A] 10% to 20% [correction] would be quite possible if this market gets to 3,500 well ahead of my schedule. |
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- Ed Yardeni, founder of Yardeni Research, on how the market's quick move upwards now could lead to slower performance in 2020, including a pullback at some point in the year.  |
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