😬Why Tax Relief May Not Come from Washington Next

Good morning. With the federal government’s massive omnibus spending package, it’s clear that... 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. With the federal government’s massive omnibus spending package, it’s clear that deficit spending out of Washington will continue. That will provide some inflationary fodder, even as the Fed looks to wring it out of the economy. However, at the state level, there’s a rosier picture. Mississippi could become the 10th state in the country to eliminate its personal income tax. And another 7 states have had members of the local legislature submit proposals to phase out or eliminate these taxes. If so, that could have a notable impact on personal income. And it could also halt the migration to places such as Nevada, Texas, and Florida – 3 of the 9 states that currently don’t tax income. Traders may not see an immediate benefit, but for those looking to move somewhere tax friendly, the list may get larger. Now here's the rest of the news: Sponsored Content [Don’t Buy TSLA Without Reading This]( Well, today, I want to tell you about one solution. You see, a [new “super battery”]( tech just hit the market… A battery so powerful that it could allow an electric vehicle to charge in as little as 2 minutes… And travel up to 1,000 miles on that single charge. This battery tech is being praised as an [“EV game changer.”]( And the “death blow to lithium-ion batteries.” And you can still get in before it goes mainstream. [Just click here to learn more now.]( MARKETS DOW 32,875.71 -1.10% S&P 3,783.22 -1.20% NASDAQ 10,213.29 -1.35% *As of market close • Stocks traded lower on Wednesday, going into the final two trading days of the year. • Oil sank 1.2 percent, last going for $78.60 per barrel. • Gold dipped 0.6 percent, ending at $1,812 per ounce. • Cryptocurrencies generally declined, with bitcoin trading at $16,610 at the market close. Today’s TOP TIPS [Let Short-Term Fear Provide You with a Great Entry Point]( In bear markets, investors and traders alike tend to sell first and ask questions later. That can create opportunities, provided you know how to weed through them. One opportunity occurs when there’s a clear short-term issue that will be resolved in time. When that occurs, investors can profit from the rebound, although it will take patience… especially in a market that isn’t moving along in a bullish manner. Yet these opportunities occur all the time. » [FULL STORY]( [Insider Trading Report: Comstock Resources (CRK)]( Jim Turner, a director at Comstock Resources (CRK), recently added 15,000 shares. The buy increased his holdings by 6 percent, and came to a total cost just under $208,700. That follows up on a 14,025 share buy made from another director earlier in the month. So far this year, insiders have bought shares on 8 occasions, with zero insider sales. That includes both directors, and executives including the company CEO. » [FULL STORY]( [Unusual Options Activity: Bill.com Holdings (BILL)]( Shares of payment company Bill.com Holdings (BILL) are down nearly 60 percent over the past year amid a slowdown in online payment processing. One trader sees a further decline ahead. That’s based on the February $120 puts. With 50 days until expiration, 10,116 contracts traded compared to a prior open interest of 194, for a 52-fold rise in volume on the trade. The buyer of the puts paid $23.65 to make the bearish bet. » [FULL STORY]( IN OTHER NEWS • [Oil Drops Amid Rising Covid Cases in China]( Oil prices dipped yesterday, on news of rising Covid cases in China. While the country is moving away from harsh lockdowns, the result is soaring cases, which may reduce demand for oil in the short-run in the world’s second-largest economy. Energy still remains one of the strongest-performing market sectors this year. • [China Adds to GDP Estimate]( China has revised its GDP estimate for 2021 to 8.4 percent, up from the initial 8.1 percent it first reported. That added half a trillion yuan to GDP, or about $80 billion higher than its previous estimate. The change is on par with the entire GDP of Bulgaria. • [Amid Rising Rates, Negative-Yielding Bonds Disappear]( The past few years saw a big rise in the amount of government bonds with negative yields – essentially where investors would pay a small sum to park their cash. However, that trend of negative-yielding bons is now down to $271 billion from $18.4 trillion in value, with only Japan still offering new government bonds with negative yields. • [House of Representatives Bans TikTok on Lawmaker’s Phones]( Citing “security issues” with video-sharing app TikTok, the US House of Representatives has ordered lawmakers and their staff to delete the app from any government-issued phone. The order came from the chief administrator of the House, who warned about the security risks back in August. • [VR Headset Sales Shrank in 2022]( Sales of virtual reality headsets declined by 2 percent compared to 2021, with sales of just $1.1 billion. Worldwide, the numbers are worse, with a 12 percent drop to 9.6 million sales. The decline comes ahead of a potential VR entry by tech giant Apple (AAPL) as soon as next year. S&P 500 MOVERS TOP GNRC 5.529% TSLA 3.337% ILMN 1.165% DRI 0.864% BAC 0.753% BOTTOM EQT 7.609% SEDG 5.798% APA 4.975% LUV 4.95% WYNN 4.874% Quote of the Day We just don’t see two down years in a row with some of these positives that are still out there. We probably could avoid two down years in a row and it’s history saying maybe next year could be actually a little bit better than most people think. - Ryan Detrick, analyst at Carson Group, on why the market will likely close higher next year, even if there are still headwinds going into the start of 2023. Sponsored Content [Don’t Buy TSLA Without Reading This]( Well, today, I want to tell you about one solution. You see, a [new “super battery”]( tech just hit the market… A battery so powerful that it could allow an electric vehicle to charge in as little as 2 minutes… And travel up to 1,000 miles on that single charge. This battery tech is being praised as an [“EV game changer.”]( And the “death blow to lithium-ion batteries.” And you can still get in before it goes mainstream. [Just click here to learn more now.]( Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: [Warren Buffett's Top 5 Stocks]( | [10 Great Stocks Under $10]( | [7 High Yield Dividend Stocks]( › Step #2 - Join Our Premium Advisory: [The Next Superstock]( › Step #3 - Claim Your Free Copy Of: [Big Book Of Chart Patterns]( | [How to Trade Weekly Options For Weekly Income]( We just wanted to take a moment and say thank you so much for being part of our family! We are dedicated to teaching people how to make the world a better place so we can all thrive, together. We love sharing stories and featuring past learners who have applied our teachings and changed their situations. It’s our passion to build a strong community centered around fun and mindset! 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