Good morning. The sudden collapse of cryptocurrency brokerage firm FTX is reminiscent of many...
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. The sudden collapse of cryptocurrency brokerage firm FTX is reminiscent of many other banking crises in history. But in the crypto space, where regulation is still in its infancy, the moves are fast and sharp. FTX founder Sam Bankman-Fried lost over 90 percent of his wealth in a week from the implosion, and had apologized before resigning from FTX. The issue, as with many other financial crises, extends to liquidity and leverage. FTX was leveraged up far more than traditionally thought, thanks to cozy relationships that weren’t challenged sufficiently. So when capital was needed, the company faced a liquidity crisis—and since broke down. That may sour investors on cryptos for some time, even as this has been a brokerage and personality problem, not an issue with underlying cryptocurrencies themselves. Patient investors will see brighter days ahead for crypto, and may want to start building up their holdings at this pessimistic time. Now here's the rest of the news: Sponsored Content [Register For our A.I. Stock Market Training]( There's a simple, powerful tool that traders are using to follow a set of rules I like to call pick, predict, and protect. Those using artificial intelligence are likely thriving alongside these rules, and the technology is now available at your fingertips. Today, I urge you to watch live how traders are using predictive indicators to interpret intermarket data in an innovative and simple way to forecast up to three days ahead of time what a particular market or security is about to do. We have a live training coming up that will show you exactly how you can easily use A.I. to predict the stock market. [Save your seat here to learn today.]( MARKETS DOW 33,747.86 +0.10% S&P 3,992.92 +0.92% NASDAQ 11,323.33 +1.88% *As of market close • Stocks closed higher on Friday, extending Thursday’s massive rally. • Oil rose 2.9 percent, closing at $88.97 per barrel. • Gold rallied 1 percent, last going for about $1,771 per ounce. • Cryptocurrencies trended lower, with Bitcoin at $16,678 at the stock market close. Today’s TOP TIPS [Consider This Retail Player Ahead of the Holidays]( Economists are predicting a gloomy holiday season. Real spending will likely be down thanks to slow economic growth and high inflation this year… not to mention the impact of supply chains. But consumers still remain robust, so it’s likely that retailers may be oversold going into the holidays. Investors who buy today can grab a reasonable value in any of the big-name big-box stores here. And if things go better than expected, they’ll be well positioned for some quick profits. » [FULL STORY]( [Insider Trading Report: Datadog (DDOG)]( Matthew Jacobson, a director at Datadog (DDOG), recently bought 719,894 shares. The buy increased his holdings by nearly 6 percent, and came to a total cost just under $50 million. This marks the first insider buy at the company in the past three years. Otherwise, company insiders, primarily executives, have been large and steady sellers of the stock since 2019. That’s fairly typical of an early-stage tech company. » [FULL STORY]( [Unusual Options Activity: American Airlines Group (AAL)]( Shares of American Airlines Group (AAL) have been trading in a range over the past few months. One trader sees shares heading higher in the coming weeks. That’s based on the December 23 $17.50 calls. With 39 days until expiration, 11,589 contracts traded compared to a prior open interest of 100, for a 116-fold rise in volume on the trade. The buyer of the calls paid $0.22 to make the bullish bet. » [FULL STORY]( IN OTHER NEWS • [Consumers Feel Worse About the Economy]( The latest consumer sentiment survey dropped to 54.7 in November, down from a read of 59.9 in October. The index is based on a neutral reading of 50, so consumers are still slightly bullish overall. But the number came in under economist expectations for a read of 59.5. • [Student Loan Forgiveness Plan Halted]( A federal judge struck down a plan by the Biden Administration to forgive student loans. The administration has stopped accepting applications for forgiveness. The plan involved cancelling up to $20,000 in student loans for millions of Americans. • [New Methane Restriction Measures Unveiled]( The Biden administration announced new restrictions on methane emissions at the CPO27 climate conference in Egypt. The goal is to improve oversight at gas facilities for detecting and sealing leaks. That’s part of a move to transition to cleaner technologies and fuel sources in the years ahead. • [Amazon Consolidates Robotics Projects]( Tech giant Amazon (AMZN) is consolidating its various robotics projects into one department. That includes existing technologies for package sorting, as well as work to create a way to robotically deliver packages to end users – the so-called “last mile” of the supply chain. • [FTX Files for Bankruptcy]( Cryptocurrency exchange FTX has filed for bankruptcy, just days after a non-binding offer from Binance fell through. That’s caused the world’s second-largest cryptocurrency broker to be wiped out, and leading to a further selloff in the cryptocurrency space. S&P 500 MOVERS TOP PARA 13.669% ALGN 12.039% VFC 11.377% RL 10.932% WBD 9.769% BOTTOM NOC 7.069% HII 6.627% LHX 6.167% CI 5.7% ELV 5.534% Quote of the Day We keep our portfolio hedged. I am still very, quite bearish on what is going to happen. A rally like this is of course very dramatic to say the least... but I still think we are in a bear market. Inflation is not going away, not in the near term. - Carl Icahn, billionaire investor, on why he sees inflation as continuing to run higher than expected for longer, which should continue to weigh on the returns in the stock market. Sponsored Content [Your Market Crash Shield is Artificial Intelligence]( People have seen severe losses in the stock market. Will it get better or worse for the remainder of Q4? As rising prices continue putting a big dent in our wallets, you must protect your portfolio and outpace inflation. Or risk being at the mercy of economic factors out of your control. Whatever you have going on, you're not going to want to miss this [FREE Live Training]( to learn how to dominate volatile markets with artificial intelligence. Our Pro-Trader will reveal 4 A.I. scanned stock trends in real-time with this tool. 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