Good morning. The data is in, and itâs not pretty. For six months in a row, inflation has been...
Itâs the monthly jobs numbers today and theyâre not going to be pretty and will be possibly the tip of the iceberg as we head into May. [Trading Tips] Good morning. The data is in, and itâs not pretty. For six months in a row, inflation has been coming in at a rate well over 5 percent annualized. While September showed a promising slowdown in some areas, the October numbers showed that was simply a one-month move and not the broader start of a slowing inflation trend. Investors are scrambling for the inflation protection of gold, as well as bonds, based on the declining yield curve there â a warning sign that high inflation rates could lead to enough of an economic pullback to cause a recession. The rise of cryptocurrency is also picking up investor interest as a hedge against inflation. With the âinflation is transitoryâ narrative starting to collapse, it might be prudent for the Federal Reserve to act sooner rather than later, even if the stock market has to take a breather from its current rally. Traders may want to get cautious again. Now here's the rest of the news: Sponsored Content [Only one week left to invest in the robots taking over the $273B food service industry.]( [Miso Robotics]( uses a cloud-connected AI platform that enables autonomous robotic kitchen assistants to perform tasks such as frying and grilling alongside chefs in a commercial kitchen. Misoâs latest commercial partnership with Inspire Brands, parent company of Buffalo Wild Wings, is called Flippy Wings. This robotic frying solution is forecasted to increase food production speeds by 10-20%. And if thatâs not enough, here are a few more reasons to invest:
- $38M in capital
- Signed an $11M contract with CaliBurger
- Entered into an agreement with White Castle for a
- North American rollout
- Working with 10 of the top 25 QSRs
- Achieved 2 granted patents and 10 more pending
[Donât miss out. Invest in Miso Robotics before the opportunity closes Nov. 18.]( MARKETS DOW 36,319.98 -0.31% S&P 4,685.26 -0.35% NASDAQ 15,886.54 -0.60% *As of market close ⢠Stocks continued lower on Wednesday, with the Nasdaq dropping nearly 2 percent. ⢠Oil dropped 3.4 percent, closing at $81.27 per barrel. ⢠Gold rose 1.2 percent, last going for $1,853 per ounce. ⢠Cryptocurrencies closed lower after an initial pop, with Bitcoin at $65,841 at the market close. Todayâs TOP TIPS [Earnings Miss Overshadows Rally Potential in This Crypto Name]( Cryptocurrencies are trending higher, with Bitcoin and Ethereum hitting new all-time highs in the past week. One beneficiary from this trend has been any company that either facilitates crypto trading or holds cryptocurrencies. Thereâs now a short-term buying opportunity in Coinbase (COIN), the brokerage that went public when Bitcoin first peaked earlier this year. The companyâs latest earnings showed last quarterâs slowdown, and user growth was lackluster, so shares are dropping. » [FULL STORY]( [Insider Trading Report: Ballyâs Corporation (BALY)]( Lee Fenton, CEO of Ballyâs Corporation (BALY), recently bought 5,750 shares of company stock. The buy increased his stake by almost 2.5 percent, and came to a total purchase price of just under $259,000. He was joined by two division presidents as well as a president of retail, who all bought on the same date at slightly different prices. All told, this cluster of insiders bought nearly $850,000 in company shares. » [FULL STORY]( [Unusual Options Activity: The TJX Companies (TJX)]( Shares of clothing retailing chain The TJX Companies (TJX) have been somewhat range-bound this year, but have been rallying to the higher end of their range in the past few weeks. One trader sees the chance for a further rally past the holiday season. Thatâs based on the January $82.50 calls. With 71 days until expiration, 7,542 contracts traded against a prior open interest of 233, for a 34-fold rise in volume. The buyer of the calls paid $0.39 to make the trade. » [FULL STORY]( IN OTHER NEWS ⢠[Inflation Hits 30-Year High]( The Bureau of Labor Statistics reports that inflation hit a 6.2 annualized rate in October, a 30-year high. The overall price index rose 0.9 percent in October, beating expectations of 0.6 percent and a big jump over the 0.4 percent increase in September. ⢠[Evergrande on Brink of Default (Again)]( Chinese developer Evergrande is facing a $148 million payment to foreign creditors on Wednesday, following the expiration of a 30-day grace period. The company avoided a default twice last month following last-minute payments and has been selling off assets such as company jets to make payments. ⢠[Rivian Looks to Make Biggest IPO Debut in Years]( Electric truck startup Rivian (RIVN) went public on Wednesday at a starting valuation of about $66.5 billion, based on an IPO price of $78 per share. The company has now raised over $12 billion with the IPO, and the company has a larger market cap than General Motors (GM) or Ford (F). ⢠[Zillow Sells 2,000 Homes in Bulk]( Zillow Group (Z) has made a deal with Pretium Partners to sell about 2,000 homes from 20 different US markets. Pretium Partners is expected to rent out the homes. The move comes as Zillow has reported large losses stemming from its homebuying program. ⢠[Blink Raises $20 Million in Series A Funding]( Blink, a UK-based app that provides an IT services platform for frontline workers, has raised $20 million in Series A funding. The deal values the firm at $100 million. Funding will be used to expand growth, which is still largely used in the London area, and relocate the company headquarters to New York to expand into the US. S&P 500 MOVERS TOP MA 3.594% PFE 3.487% VTR 3.474% TSLA 3.32% DISCA 2.683% BOTTOM AMD 5.849% CTRA 5.782% OXY 5.216% HES 5.18% FANG 5.08% Quote of the Day The inflation narrative is still out there and needs to be resolved. We think investors will see inflation abate in the coming months as the Fed remains accommodative, people come back into the workforce and consumers shift from buying goods to services⦠and we expect that will pull the market higher as we move toward the end of the year. - Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Company, on why stocks are likely to rise into the end of the year, as most of todayâs headline economic issues continue to calm down. Sponsored Content [Only one week left to invest in the robots taking over the $273B food service industry.]( [Miso Robotics]( uses a cloud-connected AI platform that enables autonomous robotic kitchen assistants to perform tasks such as frying and grilling alongside chefs in a commercial kitchen. Misoâs latest commercial partnership with Inspire Brands, parent company of Buffalo Wild Wings, is called Flippy Wings. This robotic frying solution is forecasted to increase food production speeds by 10-20%. And if thatâs not enough, here are a few more reasons to invest:
- $38M in capital
- Signed an $11M contract with CaliBurger
- Entered into an agreement with White Castle for a
- North American rollout
- Working with 10 of the top 25 QSRs
- Achieved 2 granted patents and 10 more pending
[Donât miss out. Invest in Miso Robotics before the opportunity closes Nov. 18.](
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