Good morning. Hedge funds have been selling their tech stocks for 9 of the past 10 sessions, based..
It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.
 | | |  | DOW 34,548.53 | +0.93% | | | | S&P 4,201.62 | +0.82% | | | | NASDAQ 13,632.848 | +0.37% | | | | | *As of market close | | | • | Stocks shot higher on Thursday, surging into the close. | | | • | Oil declined 1.2 percent, to $64.83 per barrel. | | | • | Gold rallied 1.7 percent, closing at $1,815 per ounce. | | | • | Cryptocurrencies traded mixed, with Bitcoin last at $55,971. | | | | | | | |
| | | Signs Point to Further Gains in Housing Trends | | | | Residential real estate has been a strong performer in the past year. Sales trends suggest that home prices will continue to appreciate as demand remains strong and supply remains tight.
That bodes well for a number of companies that play to housing trends. That's why most names in the space have beaten their quarterly estimates so far, and why they're likely to perform well in the months ahead.
» FULL STORY | | | | |
| | Insider Trading Report: US Silica Holdings (SLCA) | | | | Bryan Shinn, CEO of US Silica Holdings (SLCA) recently bought 2,000 shares. The buy increased his holdings by 0.25 percent, and came to a total purchase price of just over $48,000.
This marks the first insider activity of 2021. Insiders were both buyers and sellers last year, with large insider buys early in the year, and sales later in the year. Overall, company insiders own just under 3 percent of total shares.
» FULL STORY | | | | |
| | Unusual Options Activity: Peloton Interactive (PTON) | | | | Shares of Peloton Interactive (PTON) dropped on Tuesday following news of a voluntary recall for the company's treadmill products. At least one trader sees a recovery in shares in the upcoming months.
That's based on the September $95 calls. Over 6,270 contracts traded against an open interest of 101, for a 62-fold rise in volume. The option has 133 days until expiration. The buyer of the calls paid about $8.50 to make the trade.
» FULL STORY | | | | |
| | • | This VOMMA Zone "Amateur" Banked $250,000 in Just 33 Days…
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| | | | • | Companies Struggle to Find Workers Despite High Unemployment
A number of companies are raising wages and creating bonuses to hire new workers. Yet finding workers to fill jobs has been difficult. There are multiple reasons. Enhanced unemployment benefits exceed the amount that can be earned on a minimum wage job. Some still fear getting Covid, and others cite child care as a reason. | | | | • | National Eviction Ban Stands, For Now
The CDC imposed an eviction ban last year for tenants who couldn't pay their rent. A federal judge threw out the law last week, but, pending appeal, the ban stands for now. Millions of renters are potentially impacted by the decision, as well as landlords large and small who are owed substantial back rent. | | | | • | SpaceX Rocket Completes Successful Landing
SpaceX launched another successful test flight for its Mars rocket prototype. The rocket, SN15, soared six miles up, went through a series of flight patterns, and then successfully landed upright back on the launchpad. This is the first mission to end with success, as prior missions have ended in explosions. Like other SpaceX models, the SN15 is designed to be a fully reusable ship. | | | | • | ReCharge Hits $2.1 Billion Valuation
ReCharge, a software firm for managing subscription services for e-commerce companies via the cloud, has just raised $227 million in Series B funding. The latest funding puts the company's valuation at $2.1 billion. The company was bootstrapped until it received its first Series A funding of $50 million last year. | | | | • | David Swenson Passes at 67
David Swenson, the Chief Investment Officer of the Yale University endowment, has passed away at 67. Swenson created a model of investing for institutions that allowed colleges to invest in more obscure markets such as private equity and away from a strictly stock/bond allocation model. The model is widely used by endowments today. | | |
| | | | TOP | | | IRM | 7.539% | | | | K | 7.072% | | | | LUMN | 5.168% | | | | LBTYA | 5.024% | | | | LBTYK | 4.514% | | | | BOTTOM | | | ETSY | 14.569% | | | | ALB | 8.555% | | | | PENN | 8.183% | | | | CTSH | 7.783% | | | | CAH | 7.052% | | | | |
| | |  | | As we go into next year and beyond, if there are unforeseen, persistent upward pressures on prices that would move inflation to a level inconsistent with our mandate, we would use our tools to bring it down. We don't see overheating as our baseline. Of course, in any outlook there's risks. | | - Richard Clarida, Vice Chairman of the Federal Reserve, on why the central bank will likely keep interest rates low well into next year.  | |
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