↔️ Yellen, Powell Get Their Stories Straight

Good morning. Both Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen testified before 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. [Trading Tips] Good morning. Both Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen testified before the Senate this week. Both of them generally told the same story—that the economy was recovering, but still needed some additional measures to stay the course. Where did the stories converge? Mostly on policy issues going forward. The Fed Chairman dismissed inflation concerns, despite rising bond yields (and rising home and food prices). Yellen pointed to future infrastructure and tax issues ahead. Markets remain near all-time highs, but have certainly been ruffled in recent weeks. One year into the pandemic lockdowns, have policymakers hit the mark? Or are they setting us up for another crisis? One year into the pandemic lockdowns, have policymakers hit the mark? Or are they setting us up for another crisis? Hit reply and share your thoughts. Now here's the rest of the news: Sponsored Content [Stock Options Are DEAD! "Penny Trades" Have WON…]( Forget options! Because there's [a NEW way to trade.]( - It can pay far more than stocks… - Trades can cost as little as 1¢… - These special trades can multiply as much as 529 times… - Warren Buffett made $12 billion with the idea behind this technique… - These trades can shoot up lightning fast — sometimes in weeks or even days… One of these odd trades even shot up 183% in one day! Our readers saw the chance at gains as high as an extraordinary 5,100% with one 19¢ trade. I repeat — this is NOT options trading. [Here's the full scoop on this weird way to trade.]( MARKETS DOW 32,420.91 -0.01% S&P 3,889.10 -0.55% NASDAQ 12,961.89 -2.01% *As of market close • Stocks moved lower on Wednesday, with tech stocks getting hammered once again. • Oil prices rose 5.2 percent, last trading at $60.77, following supply disruptions in the Suez Canal. • Gold rose 0.5 percent, changing hands at $1,733 per ounce. • Cryptocurrencies mostly dropped, with Bitcoin last at $54,837. Today’s TOP TIPS [Ignore the Market Fear in Tech with Profitable Software Plays]( Software is a high profit-margin business. Companies embracing a recurring revenue model can do even better. But with tech shares looking volatile lately, these companies have been out of favor with the market as part of the tech space. However, strong earnings by software companies point to further profits ahead. These companies will be able to pass on higher costs, and investors who target successful software companies will come out ahead in time. » [FULL STORY]( [Insider Trading Report: Perrigo Co (PRGO)]( Geoffrey Parker, a director at Perrigo Co (PRGO), recently picked up 2,500 shares. The buy increased his stake by nearly 18 percent, and came to a total purchase price of just over $103,000. This marks the first insider buy at the company since January. Insiders have been active on both the buy and sell side, with an insider sale earlier in the month. Overall, in the past three years, buyers have outnumbered sellers. » [FULL STORY]( [Unusual Options Activity: ViacomCBS (VIAC)]( Top performing media play ViacomCBS (VIAC) saw a selloff earlier this week as the company announced it would issue more shares to raise capital. With the stock up over five-fold in the past year, some traders are betting on a further pullback. One such trade is the May $65 puts. Expiring in 57 days, over 7,300 contracts traded against an open interest of 187 contracts, for a 39-fold rise in volume. » [FULL STORY]( IN OTHER NEWS • [Cryptocurrency Faces Regulatory Scrutiny]( Cryptocurrencies were created to avoid government control and even regulation. Yet with rising interest in the space, a number of potential regulations are looking to come into play. That will help answer questions as to how cryptocurrencies can be classified, and how the government can best provide guidance for investors (not to mention grab its share of any taxes). Increasing oversight looks likely from the SEC and CFTC in the coming months. • [Tacos Via Text]( Yum Brands (YUM), owner of KFC and Taco Bell among others, has recently acquired Tictuck Technologies. The company offers fast-food ordering via text and social media apps. Early tests of the app have led to a rise in sales in the test markets. The texting service can be used for pickup, delivery or dine-in orders. • [Intel Plans Additional Manufacturing]( The new CEO of Intel (INTC) is looking to invest $20 billion in new chip factories, located in Arizona. The factories will allow Intel to start making chips for other companies as well. Coming at a time of a chip shortage, the move will allow Intel to increase its revenue and profitability, and the market has rewarded shares for the initiative so far. • [The Grape-Nuts Shortage is Over]( Post Holdings (POST), parent company of Post cereal, reports that the shortage of popular brand Grape-Nuts is over. The cereal is back on the shelves, and supply-chain constraints have eased. The company is also announcing a plan to reimburse customers who paid more than the retail price for a box of the cereal, with some reporting paying as much as $110 on the secondary market for their Grape-Nuts fix. • [Robinhood Files for Confidential IPO]( Robinhood has joined the IPO filed. Rather than a traditional IPO or even a SPAC, the company is making a confidential IPO. This private IPO means the company can file without having to show the public its operating numbers. Given the recent controversy the company engendered by shutting down retail traders, it’s clear shares will soon trade publicly. S&P 500 MOVERS TOP LH 4.875% EOG 4.149% AMAT 4.056% PSX 3.862% ASML 3.527% BOTTOM VIAC 23.178% DISCA 13.588% DISCK 13.415% ETSY 9.328% BIDU 8.549% Quote of the Day There’s no doubt that we’re not done with the rate rises because we are just entering the new economic cycle. All the stimulus is in front of us… It could be in a year’s time we’re at 2% to 2.5%. And certainly, we think that the economy growing at 4% plus can tolerate that. - David Bailin, chief investment officer and managing director at Citi Private Bank, on why interest rates could continue to rise thanks to an expanding economy, and why a fast-growing economy may not cause higher rates to derail the stock market’s rally. Sponsored Content [Stock Options Are DEAD! "Penny Trades" Have WON…]( Forget options! Because there's [a NEW way to trade.]( - It can pay far more than stocks… - Trades can cost as little as 1¢… - These special trades can multiply as much as 529 times… - Warren Buffett made $12 billion with the idea behind this technique… - These trades can shoot up lightning fast — sometimes in weeks or even days… One of these odd trades even shot up 183% in one day! Our readers saw the chance at gains as high as an extraordinary 5,100% with one 19¢ trade. I repeat — this is NOT options trading. 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