❤️This “Hated” Asset Class Rallies While a Beloved Asset Class Drops

Good morning. Oil prices have continued lower, with a barrel of crude breaking under $90 in... 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. Oil prices have continued lower, with a barrel of crude breaking under $90 in trading yesterday. That will likely prove further good news at the gas pump. But it will mean bad news for investors who flocked into energy plays as oil prices surged higher earlier this year. In the meantime, it’s harder to find a more beaten-down space than cryptocurrencies. Yet the world’s largest asset manager, BlackRock (BLK), is partnering with Coinbase (COIN) to make it easier for institutional investors to trade Bitcoin. It just goes to show – assets tend to be mean-reverting over time. A big move higher will lead to a pullback. And a big drop lower will attract big money before the next move higher. Traders should be cautious with energy right now, and potentially look at cryptos for the long term. Now here's the rest of the news: Sponsored Content [2 Dividend Stocks that Deliver Cash Weekly]( Are you still looking for consistent income in this near-zero interest rate environment? [There is a better way.]( I just revealed the Holy Grail of dividend stocks - a safe, reliable and consistent stock that pays dividends EVERY single week - 52 times a year. It's simple: Buy the stock this Monday and you'll get your first dividend payout in your bank account this Thursday....and then every Thursday after for as long as you own the stock! [Tap here to reveal the name of this stock for FREE.]( MARKETS DOW 32,726.82 -0.26% S&P 4,151.94 -0.08% NASDAQ 12,720.58 +0.41% *As of market close • Stocks traded mixed on Thursday, ahead of the latest jobs report coming out today. • Oil dropped 2.6 percent, closing at $88.33 per barrel. • Gold rallied 1.9 percent, last going for $1,811 per ounce. • Cryptocurrencies trended lower, with Bitcoin at $22,492 at the stock market close. Today’s TOP TIPS [Stay on the Offense with a Defensive Market Play Now]( The stock market has quickly retraced nearly half of its recent losses over the past few months. While some might see that as the start of a new bull market, others see the pattern of a bear market rally playing out. To trade these kinds of markets, investors can focus on dividend paying stocks, or on stocks that operate in defensive industries that hold up even when the economy remains slow. » [FULL STORY]( [Insider Trading Report: B. Riley Financial (RILY)]( Randall Paulson, a director at B. Riley Financial (RILY), recently added 52,500 shares to his holdings. The buy increased his stake by nearly 6 percent, and came to a total price of just over $2.7 million. That adds to a number of other insider buys at the company so far this year, from directors and executives alike. Over the past three years, insider buying has handily beat the occasional insider sale. » [FULL STORY]( [Unusual Options Activity: Confluent (CFLT)]( Shares of data streaming company Confluent (CFLT) have lost just over one-third of their value in the past year. One trader is betting that the trend will continue in the coming months. That’s based on the October $22.50 puts. With 77 days until expiration, 10,162 contracts traded compared to a prior open interest of 293, for a 35-fold rise in volume on the trade. The buyer of the puts paid $2.05 to make the bet. » [FULL STORY]( IN OTHER NEWS • [Bank of England Hikes Rates 0.5 Percent]( The Bank of England has raised its interest rates by 0.5 percent. That’s the largest rate hike for the bank in 27 years. Rates now stand at 1.75 percent in England, even as economists predict the country will be in a recession by the end of the year. • [Weekly Jobless Claims Continue to Rise]( Initial jobless claims totaled 260,000 last week. That’s a slight increase over the prior week, and is about in line with expectations from economists. The move is about 6,000 higher compared to last week’s level, which was revised downward, and is near the highest level since November. • [Mortgage Rates Slip Under 5 Percent]( 30-year fixed rate mortgages averaged 4.99 percent for the week. That’s down from 5.3 percent the week before, and it marks the first time since April that the rate has been under 5 percent. It’s still sharply higher compared to one year ago, when rates stood at 2.77 percent. • [Agricultural Commodities Trade Lower as Speculators Exit]( Prices for a number of agricultural commodities, such as soybeans and wheat, are now back down to prices where they traded about one year ago. The move comes as a number of hedge funds have left the market. Some analysts are warning that prices may be too low given the supply and demand for these commodities. • [Starbucks to Unveil Web3 Rewards Program]( Coffee chain Starbucks (SBUX) is set to unveil a web3 initiative at its Investor Day event next month. That will include providing exclusive content and perks as part of a rewards program, as well as items such as coffee-themed NFTs. S&P 500 MOVERS TOP MELI 16.16% EPAM 11.637% CDAY 10.667% DISH 5.845% AMD 5.821% BOTTOM BALL 18.487% DXC 18.338% FTNT 16.174% APA 10.064% APTV 9.413% Quote of the Day As the chair said, we’re not in recession right now. With all the job growth in the first half of the year, it’s hard to say that there was a recession. - James Bullard, St. Louis Federal Reserve President, echoing the sentiment that two quarters of negative GDP growth doesn’t necessarily mean a recession, and that the strong job market is supportive of that argument. Sponsored Content [2 Dividend Stocks that Deliver Cash Weekly]( Are you still looking for consistent income in this near-zero interest rate environment? [There is a better way.]( I just revealed the Holy Grail of dividend stocks - a safe, reliable and consistent stock that pays dividends EVERY single week - 52 times a year. It's simple: Buy the stock this Monday and you'll get your first dividend payout in your bank account this Thursday....and then every Thursday after for as long as you own the stock! [Tap here to reveal the name of this stock for FREE.]( Not sure the best way to get started? 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