Thanks to declining international trade, the U.S. trade deficit continues to shrink. October saw a drop to $47.2 billion, below expectations of 48.5 billion. The drop comes largely as imports from China continue to decline, as that trade fell another 4.8 percent in the last month.
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| |  Good morning, Thanks to declining international trade, the U.S. trade deficit continues to shrink. October saw a drop to $47.2 billion, below expectations of 48.5 billion. The drop comes largely as imports from China continue to decline, as that trade fell another 4.8 percent in the last month.
However, the U.S. also continues to export, and this year has seen the country become a net exporter of oil for the first time since the 1970's. With many moving parts, the trade deficit isn't a huge deal—we trade paper dollars for physical goods when we run a deficit, after all—but it is one showing the changes in the global economy amidst surging U.S. energy production and slowing economies around the world.
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 | DOW 27,678.12 | +0.10% | | |
| S&P 3,117.55 | +0.15% | | |
| NASDAQ 8,570.70 | +0.08% | | |
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| *As of market close |
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| • | Markets bounced around yesterday, closing near their highs with a slight gain. | | | • | Oil prices dropped 0.01 percent, to $58.38 per barrel.. | | | • | Gold rose 0.07 percent, moving to $1,481 per ounce. | | | • | Cryptocurrencies generally rose, with Bitcoin rallying 2.5 percent to $7,416. | | |
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| Two Tech Stocks to Own Indefinitely | |
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In 2007, some of the largest companies by market cap were in the energy space. One bear market and recovery later, the real winners have been in technology.
It's easy to see why. Technology provides fatter profit margins, less pricing problems than commodity companies, and appeals to the growing rise of digital trends.
That's why, instead of being a growth play just for certain types of markets, tech has become a must-own sector for the long haul.
» FULL STORY |
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| Insider Trading Reports: Cubic Corporation (CUB) | |
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Brad Feldmann, Chairman and President at Cubic Corporation (CUB), picked up another 1,000 shares, increasing his stake by 1.3 percent, paying just over $63,000, and raising his total share count to 76,500.
This comes one day after director Maureen Breakiron-Evans bought 1,665 shares, increasing her stake by nearly 49 percent and paying just under $100,000 to do so.
Insider data for the past few years shows the last insider sale was in August 2018, with only buys since then.
» FULL STORY |
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| Unusual Options Activity: Nordstrom (JWN) | |
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Over 1,100 contracts traded on the Nordstrom (JWN) April 2020 $40 put option, showing about a 7-fold increase over the prior open interest of 176 contracts.
Given the $40 strike and shares trading around $38, the option is already about $2.00 in-the-money, and should move higher dollar-for-dollar with shares if they decline, less any loss in time premium.
As the option trades around $5 per contract, it will make money for the buyer at expiration if shares drop under $35.00.
» FULL STORY |
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| TOP | | | PVH | 3.472% | | | | BIIB | 3.409% | | | | RL | 3.101% | | | | SWK | 2.681% | | | | GD | 2.409% | | | | BOTTOM | | | ALXN | 6.955% | | | | BF.B | 6.294% | | | | FFIV | 3.914% | | | | LB | 3.369% | | | | KTX | 3.251% | | | |
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| Anything short of a rollover to June and the market should brace for some very bearish price action. It is very unlikely that the kingdom will formally agree to continue producing at this level unless other OPEC+ members formally commit to cutting deeper as well |
- Consulting firm FGE on oil's likely decline if OPEC can't agree to further production cuts at its annual meeting.  |
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