🧢 Job market softens

Together with Ryse 

Good morning investors! Bonds roared back yesterday and the job report came with a surprise.

Today we cover:

• Job openings fell.

• Retailers in danger.

• More free stocks.

📊 Economy and News 

Job openings fall to new 3-year low

The number of job openings in the U.S. declined for the second consecutive month, reaching a three-year low, indicating a cooling labor market.

According to the latest Job Openings and Labor Turnover Survey (JOLTS) report from the Bureau of Labor Statistics, there were 8.06 million job openings in April. This figure is down from the revised 8.36 million in the previous month and is the lowest since February 2021.

Economists had anticipated 8.36 million job openings, according to FactSet estimates.

As of April, there were approximately 1.2 job openings for every job seeker, the lowest ratio since June 2021, according to BLS data.

The quits rate, which measures voluntary separations as a percentage of total employment, remained steady at 2.2% for the sixth consecutive month.

At a job fair held at Brunswick Community College in Bolivia, North Carolina, on April 11, 2024, job seekers and representatives connected over employment opportunities.

The number of new hires slightly increased to 5.64 million from 5.62 million, while total quits rose to 3.51 million from 3.41 million. Layoffs decreased to 1.52 million from 1.6 million in March, marking their lowest level since December 2022.

Global hits:

• European markets move lower as positive momentum falters and European Central Bank prepares to cut rates for the first time since 2019.

• The SBA is unveiling new credit lines of up to $5 million to fund small businesses.

• Indian stocks have their worst day in 4 years as Modi wins by a small margin.

Also check: Toyota is recalling 100,000 big trucks and luxury SUVs due to engines stalling.

📈 Stocks

S&P 500 5,291.34 (+0.15%)
DJIA 38,711.29 (+0.36%)
NASDAQ 16,857.05 (+0.17%)
BRENT CRUDE 77.32 (-0.26%)
* Prices as of Jun 5th, 12:20 AM UTC

Retail outlets in trouble?

Years of elevated inflation and the highest interest rates in nearly 25 years are taking a toll on U.S. consumers. Savings accumulated during the COVID-19 pandemic are dwindling, while borrowers continue to accrue debt, and delinquency rates are rising. Retailers report that shoppers are becoming frustrated with increasing prices and are adjusting their purchasing habits accordingly.

When the U.S. economy emerged from the depths of the pandemic, consumers unleashed a surge of demand. This momentum continued last year as Americans eagerly spent, selling out high-profile concerts and breaking travel records, which helped to avert a widely anticipated recession.

However, a softening job market and higher prices are sending buyers away, which may impact a variety of industries, most notably the retail industry, which has already sent warning signals.

Surprising: Musk accused of improperly selling $7.5 billion in Tesla stock before weak sales report that crashed its price.

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The game has changed, and for once investors have the option to invest in a company that’s gearing up for a massive retail rollout.

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They have patented the only mass market shade automation device, and their exclusive deal with Best Buy resembles that which led Ring and Nest to their billion-dollar buyouts.

💵 Personal Finance

Get free stocks – Part III

Here’s the last part of our ‘Get Free Stocks’ guide, check the previous two issues for more ways.

Webull

WeBull offers up to 12 free stocks to almost every user. All you have to do is sign up, verify your account, and add money to it. Known for offering excellent features such as extended trading hours and in-depth quotes, WeBull can be a great option for people looking to get free stocks. According to the net, these bonuses are in the range of $52 to $30,600.

The amount might sound very lucrative, but we don’t yet know how many people earn stocks worth $30,600. This is what the company promotes, in most cases you will earn a fraction of what you deposit.

Firstrade

With Firstrade, users could get free stocks by opening an account and putting down the initial deposit of $100. However, things have now changed. You will now get free stocks only if you refer others. So, go to your profile, choose “Free Stocks” to get your referral program link, and share it with others.

You will get rewarded with free shares in a varying amount — between $3 and $200 – for every successful referral. However, we must mention that this platform is known for revising policies every now and then so make sure to check the official site for the latest updates.

M1 Finance

M1 Finance has a ‘free stock’ offer on its site but we think it is more of a matching bonus.

Here’s how it works: Open a new M1 investment account. Deposit $10,000 or more into the account within 14 calendar days of account opening, and get promotional credit as high as $500.

You must invest at least $10,000 to benefit from this offer. Investing the minimum will earn you $75. Here's a full breakdown:

In addition, the company is rewarding players for large transfers.

Here’s how it works: Complete an Automated Customer Account Transfer Service (ACATS) of at least $100,000 in aggregate and earn up to $15,000. Again, promotional credit will depend on the amount transferred to the account.

Here’s a breakdown:

💰 Be a Better Investor

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

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