Tale of the Tape
Good afternoon, everyone. Don’t forget— tomorrow is Tax Day!!
Last week every major index moved lower. Will stocks see a snapback?
Bitcoin bopped below 50K while ethereum leaked lower than 3,500 for the first time since May 8th.
Crude continues to creep higher. The hot commodity has flagged out at former highs since late February. Here’s the monster monthly chart:
Energy was the only positive sector last week. If crude can cruise, will the sector surge?? ⚡️
It’s Retail Week on Wall Street. We’ll see earnings from Home Depot, Macy’s, and Walmart early Tuesday. Lowe’s and Target will follow on Wednesday. Will Big Box Retail feel the roar of the roaring 20s?? Time will tell… 🦁
Here’s the weekly S&P 500 chart:
And last week’s changes:
| S&P 500 | 4,173 | -1.39% |
| Nasdaq | 13,429 | -2.34% |
| Russell 2000 | 2,224 | -2.07% |
| Dow Jones | 34,382 | -1.14% |
NFT THAT!
Another day, another NFT. The Uffizi Gallery in Florence, Italy is cracking into crypto. The gallery sold Michelangelo’s, Doni Tondo as an NFT for $170,000.
Uffizi authenticates the physical art while Cinello creates the digital duplicate.
The pandemic pummeled all in-person establishments, will this pivot be a saving grace for artists’ sake?
Eike Schmidt, the gallery’s director commented—
In the medium term [the NFT sales] will be able to contribute to the finances of a museum, comparable to the proceeds of the restaurant business. It is not a change of direction in terms of revenue, it is an additional revenue. But creating such a market is not a quick thing.
Here’s Artnet with more.
Mega Media Merger??
AT&T and Discovery Inc are in talks to create a media empire.
The telecom company could spin off WarnerMedia which includes networks like CNN, HBO, Cartoon Network, TBS, and TNT. Discovery is home to HGTV and Animal Planet.
Talk is cheap and the deal is still “in talks,” we’ll see if a mega deal gets done.
Here’s Bloomberg with more.
Sunday Links:
💰 Turn your tax refund into real gains with IBD’s MarketSmith! Now through May 17, you can get 3 weeks of access for only $19.95*
🕊 Israeli Airstrikes Kill at Least 36 in Gaza as U.S. Pushes for Cease-Fire
💁♂️ In-Person vs On-Screen 👨💻
🌲 Elisabetta Quarta Colosso Uses Natural Cork to Build a House in a Forest
🏊♂️ New York City Approved a Floating Pool in Its East River
🙏 LA Brush Fire: Topanga Canyon Residents Flee Palisades Fire
The Week Ahead
And now a brief and well-organized look ahead at the trading week beginning Monday, May 17th, 2021:
Economic Calendar:
5/18 April Housing Starts (8:30 AM ET)
5/18 April Building Permits (8:30 AM ET)
5/20 Jobless Claims (8:30 AM ET)
5/21 April Existing Home Sales (10:00 AM ET)
Here’s the full Economic Calendar provided by Briefing.
Earnings Calendar:
Be sure to know when your stocks are reporting. Here’s the earnings calendar:
