We warned you here first! When the U.S. and China announced a truce on trade issues, we met the development with skepticism. On Friday, China revealed it wouldn't go through with its plans to buy American agricultural products, notably soybeans, until Washington provides "more clarity" on Huawei.
 | | Good morning. We warned you here first! When the U.S. and China announced a truce on trade issues, we met the development with skepticism. On Friday, China revealed it wouldn't go through with its plans to buy American agricultural products, notably soybeans, until Washington provides "more clarity" on Huawei.
Of course, Washington can allow the foreign firm to do business in the U.S. anytime it wants. The bigger question, after everything that's been revealed this year about Huawei's business practices this year, is whether or not any company will willingly do business with them? Expect trade headlines like these to swing markets for the foreseeable future. | | |
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| | |  | DOW 26,923.41 | -0.16% | | | | S&P 2,990.43 | -0.18% | | | | NASDAQ 8,161.79 | -0.10% | | | | | *As of market close | | | • | Stocks declined slightly on Friday, as a solid jobs report indicated a strong economy, but closed well off the lows of the day. | | | | • | Gold dropped under $1,400 per ounce as fear waned, and oil traded flat near $57. | | | |
| | | June Payrolls Rise by 224,000 | | 
| | Job growth goes beyond highest forecast for June. | | U.S. employers added 224,000 to their payrolls in June, per the job data that was released by the Bureau of Labor Statistics on Friday.
That's about three times larger than the revised 72,000 jobs numbers from May, and indicate a strong economy. The expectation was for 160,000 new jobs at best, and the number was higher than the most bullish forecast by Wall Street traders.
» FULL STORY | | | | |
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| | Drug Stocks in the Crosshairs on Trump's "Favored Nations" Plan | |  | | Move to lowest-cost drugs could save $3 billion per year. | | Drug and related stocks were among the worst market performers on Friday, after President Trump says his administration is working on a system to allow the U.S. to buy drugs based on the lowest prices paid by other countries.
Such a plan, typically known in contracts as a favored-nations clause, would help keep a lid on drug costs for consumers, but would cut into the profitability of the drug companies.
» FULL STORY | | | | |
| | | | Insider Activity: OncoCyte Corporation (OCX) |  | | Major holder adds to stake in blood testing company. | | Insiders in the health, pharmaceutical, and biotech space continue to buy shares of their beaten-down companies near today's prices.
The latest big buy? At shares of one of the smaller diagnostic plays, OncoCyte Corporation (OCX).
Last week, Broadwood Partners LP, which already owns more than 10 percent of shares in the company, added 1 million shares to their stake. At a price of around $2, this represented a $2 million buy.
» FULL STORY | | | | |
| | Unusual Options Activity: Snapchat (SNAP) | |  | | Big bet on social media company rallying in the next month. | | Shares of social media companies have underperformed the broad market. Between a slowdown in user growth and privacy concerns, they don't look like the most attractive investment. Yet shares of these companies are off their recent lows—and at least one trader is betting on a big move higher.
Last Friday saw a surge in volume on the July 26th $19 call options on Snapchat (SNAP).
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| | | | TOP | | | JEF | 3.378% | | | | JWN | 2.336% | | | | CXO | 2.156% | | | | SIVB | 2.121% | | | | FANG | 2.101% | | | | BOTTOM | | | EA | 4.597% | | | | IPGP | 4.315% | | | | REGN | 3.577% | | | | NKTR | 3.116% | | | | ROK | 2.847% | | | | |
| | Top Rated Stocks Under $10 |  | | | |
| | |  | | Solid jobs, but...the unemployment rate rose, wage growth is flattening out, there is still residual slack in the jobs market. We tend to think July cuts are still more likely than not | - Renaissance's Neil Dutta on the Friday jobs numbers  | |
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