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Trade Idea of the Day Presented by: Calculated Risk

Weekly Initial Unemployment Claims decreased to 192,000

The DOL reported:In the week ending April 13, the advance figure for seasonally adjusted initial claims was 192,000, a decrease of 5,000 from the previous week's revised level. This is the lowest level for initial claims since September 6, 1969 when it was 182,000. The previous week's level was... Read More

BLS: Unemployment Rates at New Series Lows in North Dakota, Kentucky, Pennsylvania and Vermont

From the BLS: Regional and State Employment and Unemployment Summary Unemployment rates were lower in March in 6 states, higher in 3 states, and stable in 41 states and the District of Columbia, the U.S. Bureau of Labor Statistics reported today. North Dakota and Vermont had the lowest in March, 2.3 percent each. The rates in these two states, as well as those in Kentucky (4.0 percent) and Pennsylvania (3.9 percent), set new series lows. (All state series begin in 1976.) Alaska had the highest jobless rate, 6.5 percent. This graph shows the number of states...

Housing Starts Decreased to 1.139 Million Annual Rate in March

From the Census Bureau: Permits, Starts and CompletionsHousing Starts: Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,139,000. This is 0.3 percent below the revised February estimate of 1,142,000 and is 14.2 percent below the March 2018 rate of 1,327,000. Single‐family housing starts in March were at a rate of 785,000; this is 0.4 percent below the revised February figure of 788,000. The March rate for units in buildings with five units or more was 337,000. Building Permits: Privately‐owned housing units authorized by building permits in March were...

Fed's Beige Book: Economic Growth "Slight to moderate", Labor Market "Tight"

Economic activity expanded at a slight-to-moderate pace in March and early April. While most Districts reported that growth continued at a similar pace as the previous report, a few Districts reported some strengthening. There was little change in the outlook among contacts in reporting Districts, with those expecting slight-to-modest growth in the months ahead. Reports on consumer spending were mixed but suggested sluggish sales for both general retailers and auto dealers. Reports on tourism...

Uber says to bring Apple Pay to Uber Eats

Mithat Ayok, Senior Product Manager, Uber (UBER), said in a statement: "At Eats, we're always thinking about ways to enhance your delivery experience. That's why we're bringing Apple Pay (AAPL) to our app, so you can pay for your order faster, more conveniently and securely. Apple Pay will be rolling out to customers in nearly 20 markets in the coming weeks. Riders who have been relying on Apple Pay since we combined forces in 2014 already know that paying in apps with Apple Pay is as simple as a glance with Face...

Wednesday: Trade Deficit, Beige Book

Wednesday: At 7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. At 8:30 AM, Trade Balance report for February from the Census Bureau. The consensus is the trade deficit to be $53.7 billion. The U.S. trade deficit was at $51.1 billion in January. During the day, The AIA's Architecture Billings Index for March (a leading indicator for commercial real estate). At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their...

Fly Intel: What to watch in IBM's earnings report

IBM (IBM) is scheduled to report results of its fiscal first quarter after the market close on April 16, with a conference call scheduled for 5:00 pm ET. What to watch for: 1. FY19 CONSENSUS UP A TICK: Along with its last report, IBM guided for fiscal 2019 operating earnings per share of "at least" $13.90. At the time, analysts were expecting the company to report FY19 EPS of $13.84, but that consensus figure has since risen to $13.91. In addition, IBM guided for FY19 free cash flow of about $12B compared to the $11.9B it reported...

Citron calls on SEC to investigate Village Farms, puts $1 target on shares

Shares of Village Farms International moved lower after Andrew Left's Citron Research announced a short position in the name with a $1 price target. The firm known for its short selling called on the SEC to investigate the company. "It is the opinion of Citron that Village Farms is nothing more than a stock promotion. This company has used investors' enthusiasm for cannabis to create shady joint ventures with unrealistic projections to boost their stock price while hoping that a few hidden disclosures in their filings will shield them from all SEC enforcement," Citron said in a report posted on its website. "This is the exact type of promotion that the SEC has consistently warned investors about. We expect...

Fly Intel: Pre-market Movers

HIGHER: Netflix (NFLX), up 1.5% after Deutsche Bank analyst Bryan Kraft upgraded the stock to Buy from Hold and raised his price target for the shares to $400 from $360. Consensus subscriber expectations for both 2019 and 2020 now seem conservative, Kraft tells investors. Netflix is scheduled to report earnings after the closing bell tonight... Crispr Therapeutics (CRSP), up 4% after announcing that the FDA has granted fast track designation to CTX001 for the treatment of transfusion-dependent beta thalassemia... Western Digital (WDC), up 2% after being upgraded to Buy from Hold at Deutsche Bank. UP AFTER EARNINGS: Johnson & Johnson (JNJ), up 1%... UnitedHealth (UNH)...

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