⏫ S&P 500 Index Hits All Time High

While the Federal Reserve and European Central Bank talk about potentially cutting interest rates, it's important to remember that many governments around the world are near zero—or in some cases negative interest rates
Good morning. While the Federal Reserve and European Central Bank talk about potentially cutting interest rates, it's important to remember that many governments around the world are near zero—or in some cases negative interest rates. There's now over $12.3 trillion in global debt with negative yields. Or, in other words, where lenders pay borrowers for the privilege of borrowing their money instead of the other way around.

That may sound attractive to borrowers: get money now and owe less later. That's even the case for homebuyers in Denmark, where mortgage rates have gone to zero. But the endgame for this status quo is unknown—but likely dire. Hmm, if only there was some kind of prior even in the housing market to give investors an idea of what happens when borrowing costs are too cheap?

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MARKETS
DOW 26,753.17 +0.94%  
S&P 2,954.18 +0.95%  
NASDAQ 8,051.34 +0.80%  
*As of market close
Stocks shrugged off Iranian saber-rattling, and made a run for new all-time highs on Thursday.
 
Oil surged 5 percent and gold hit a 5-year high, on geopolitical fears and a dovish monetary outlook.

Today's TOP TIPS
S&P 500 Index Hits All Time High

Stocks, gold, and oil all surge higher Thursday.
Markets made another run at all-time highs on Thursday. The S&P 500 index hit new highs during intraday trading.

The move shrugged off geopolitical events, such as Iran's shooting down of a U.S. drone, in a clear escalation of conflict between the two countries. Bullish earnings and some big public offerings helped send markets higher, but stocks moved off their highs as President Trump made belligerent comments regarding Iran.

» FULL STORY

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Slack Joins IPO Club
Software company sees shares soar over 40% in debut.
Cloud-based team collaboration software company Slack (WORK) went public on Thursday, joining a busy field of companies making the move to stock exchanges after years or being privately-held.

Shares of the company were originally priced at $26, giving the company a rough valuation of $15.7 billion. However, trading began around $36-37, indicating that shares gained about 40 percent from their open.

» FULL STORY

Insider Activity: Scientific Games Corp (SGMS)
Shares of gaming technology company are down over 60 percent from 52-week highs.
Billionaire investor Ron Perelman bought 120,000 shares of Scientific Games Corp (SGMS) on Wednesday, June 19th. The total cost came in at over $2.34 million. Perelman is already a director at the company, and also a 10 percent owner as well.

The Las Vegas-based company develops technology related to the gaming industry, including physical gaming machines, video lottery systems, and related hardware and software.

» FULL STORY

Unusual Options Activity: Snapchat (SNAP)
Traders bet on rise in social media company.
A bullish bet is being made that shares of Snapchat (SNAP) will continue to rally in the next few weeks.

On Thursday, over 11,700 contracts of the July 12th $15.50 call options contracts had been traded, against an open interest of 106, representing a 110-fold surge in volume. This bet, with shares currently at $14.70, implies that shares will rally by at least 5.4 percent in the next month.

» FULL STORY

IN OTHER NEWS
  Tensions flare with Iran (again) as U.S. drone gets shot down.  
  10-year Treasury yields drop below 2 percent for the first time since November 2016.  
 

Manufacturing data slows down in June, in line with other slowing economic data.

 
  From flipping to rentals, investor purchases of homes hits an all-time high.  
  Also in housing, Mariott's CEO explains the company's transition into a home rental and travel firm.  
  In tech, electric planes are a hit at the Paris Air Show.  
  Tesla will start charging an extra $1,000 if you want one of their cars in black.  
  (Legal) cannabis sales are on track to hit $15 globally this year.  
  iRobot acquires Root Robotics, an education startup.  
  In earnings news, Korn Ferry beats on earnings and revenue.  

S&P 500 MOVERS
TOP
ORCL 8.182%  
NBL 6.149%  
HFC 5.358%  
HAL 4.906%  
SLB 4.766%  
BOTTOM
CCL 7.646%  
ALK 3.404%  
AAL 3.192%  
RCL 3.188%  
NCLH 2.504%  

Top Rated Utility Stocks
1. NEE: NextEra Energy 97
2. AEP: American Electric 94
3. AY: Atlantica Yield 92
4. CWCO: Consolidated Water Co. Ltd. 92
5. FTS: Fortis Inc 82

Quote of the Day
Geopolitics is helping oil bulls to make a spectacular come-back after a few days' of directionless trading
- Tamas Varga, PVM Oil Associates Ltd. analyst

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