Wall Street Breakfast

Special thanks to our guest this week: Nicholas Colas of DataTrek Research, who had very many interesting things to say.
It was a quiet week on Wall Street without much in the way of data releases or earnings updates. Stocks quietly rallied week-over-week. The Nasdaq was the best-performing major index, adding 2.7% at the time of this writing (Friday afternoon, about 3pm EDT). The S&P 500 (SP500) closed at a record level twice and stands to end the week 2.3% higher. Dow Industrials (DJI) are looking at weekly gains of about 1.5. Only the Russell 2000 (RTY) is down among major indexes, but only by about 0.4%.
Winners & Losers
Technology was a major winner this week. Twitter (NYSE:TWTR) shares added close to 12% amid news the company might bid for Clubhouse, amid other reports.
Pandemic reopening plays accounted for many other winners. Gambling names like Caesar’s Entertainment (NASDAQ:CZR) and MGM Resorts (NYSE:MGM) rallied 8% and 6%, respectively. Cruise liners saw big gains, led by Norwegian Cruise Line Holdings (NYSE:NCLH), which was 10.5% higher. Carnival (NYSE:CCL) was up 6% to a 52-week high after a positive bookings update. The stock was subsequently upgraded by Credit Suisse. Royal Caribbean (NYSE:RCL) shares added 3.5%.
Energy names were the biggest losers. Crude oil was down 3% and stocks followed: Occidental Petroleum (NYSE:OXY) fell by 10%, Pioneer Natural Resources (NYSE:PXD) dropped by 9%, Marathon Oil (NYSE:MRO) was off 8%, and Diamondback Energy (NASDAQ:FANG) 7% lower.
What Caught Our Eye(s) This Week

Kim: Netflix (NASDAQ:NFLX) gets Spider-Man streaming rights with Sony Pictures (NYSE:SONY) deal; and Citi (NYSE:C) sees a risky 1999 vibe to market action;

Stephen: Levi's (NYSE:LEVI) going big on NextGen stores given 'commercial real estate tsunami';

Brad: Coinbase (COIN) IPO, including its preliminary Q1 estimates and D.A. Davidson upgrade; and Robinhood (RBNHD) scales up cryptocurrency trading capabilities;

Nat: JPMorgan's (NYSE:JPM) Jamie Dimon sees U.S. economic boom running into 2023.


About This Podcast
Alpha TALKS Wall Street Breakfast is a weekly podcast covering what moved markets this week (WMMTW), featuring a panel of Seeking Alpha editors.
Hosted by Nathaniel E. Baker, Senior Editor, Strategic Contributors, and featuring:

Bradley Olesen, VP News (off this week);

Kim Khan, Senior News Editor;

Stephen Alpher, Managing Editor News, co-host of Seeking Alpha's Alpha Trader podcast.

A slightly longer video publishes every Friday by close of trading on the SeekingAlpha.com website. Watch this week's video here.
The video can also be seen on the Seeking Alpha YouTube account.
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