Tech Stocks Hit on Regulatory Concerns ⏪

Good morning. An Italian billionaire just took a $38 million loss over the weekend. But it wasn't from declining markets. Rather, it was from the loss of his 130-foot yacht, named MY Song. Falling off a cargo ship, it was lost at sea heading to Ibiza from the Caribbean. The boat has previously won Best Yacht at the World Superyacht Awards.

Good morning. An Italian billionaire just took a $38 million loss over the weekend. But it wasn't from declining markets. Rather, it was from the loss of his 130-foot yacht, named MY Song. Falling off a cargo ship, it was lost at sea heading to Ibiza from the Caribbean. The boat has previously won Best Yacht at the World Superyacht Awards. They say the two happiest days in the life or a boat owner's life are the day it's bought… and the day it's sold. Lost at sea though? Definitely not a happy day at all. With salvage teams now on the lookout for the wayward vessel, this recovery may happen a lot faster than the stock market returning to all-time highs. Was this email forwarded to you? Get your own! Sign up here. MARKETS DOW 24,819.78 +4.74%   S&P 2,744.45 -7.61%   NASDAQ 7,333.02 -120.13%   *As of market close • Stocks were mixed but mostly down following the weekend, as major tech companies will likely face greater regulatory scrutiny.   • Gold rose 1.5 percent sending the metal to $1,320, a two-month high. Gold tends to rally when stocks decline, but has only just started recently moving higher. Today's TOP Tips Tech Stocks Hit on Regulatory Concerns Tech giants face increased scrutiny from the FTC and DOJ. Tech stocks traded weakly on Monday, weighing markets down. This comes on the heels of a report that Amazon (AMZN) faces increased antitrust scrutiny from the Federal Trade Commission. At the same time, Alphabet/Google (GOOG) also looks to be facing a closer inspection from the Justice Department. With no specific allegations dropped about either company yet, uncertainty is rising for both companies as a result. » FULL STORY SPONSORED CONTENT The No. 1 Pot Stock of 2019 Is Set to Be Bigger Than Cronos, Canopy Growth and Tilray - COMBINED! And right now, you can get in for less than $3. Check out the details here. Manufacturing Grows, But at a Slower Pace Manufacturing grows in May, albeit more slowly than expected. The ISM Manufacturing Index showed that the economy continued to expand. This is the 111th month in a row that the index has shown growth, with little sign of an overall economic slowdown. However, with a reading of 52.1, the number came in below expectations of 53.0. In the prior month, the index read » FULL STORY Insider Activity: Sally Beauty Holdings (SBH) Insiders are picking up shares at the cosmetic company. Multiple insiders at Sally Beauty Holdings (SBH) have been adding shares in recent days. Chairman of the Board Robert McMaster picked up 5,000 shares, shelling out over $73,000 of his own money to add to his take. CFO Aaron Alt bought 1,500 shares, paying over $22,000 to add to the cosmetic supply company. On top of that, CEO Christian Brickman bought 5,000 shares for nearly $75,000 as well. » FULL STORY Unusual Options Activity: Facebook (FB) Traders are betting that Facebook shares will bounce after Monday's decline. Some traders are betting that shares of Facebook (FB) are oversold. The social media giant sold off with the other tech giants on Monday on news that the FTC will look into the company. Shares dropping nearly 8 percent. However, some traders see the move as too much, too soon, and expect shares to potentially move higher from here, with bets on options expiring at the end of this week on June 7. » FULL STORY IN OTHER NEWS   • Rising trade war fears are increasing the likelihood of a recession by mid-2020, according to economists.     • Also citing economic challenges from trade wars, J.P. Morgan now expects the Fed to cut rates twice this year.     • While China is moving to retaliate in the trade war, Mexico signaled that it would prefer to negotiate, but could hit back.     • Mexican tariffs could cost an extra $15 million for Chipotle, which may have to raise burrito prices… by a nickel.     • Bucking the trend of using referendums, the Illinois legislature moves to legalize recreational marijuana use.     • Mall-based retailers continue to struggle in the digital retail age, with double-digit declines in store sales.     • One attempt to get shoppers back to malls: Used clothes. Companies Neiman Marcus and H&M are working out the idea.     • A data breach hits the 11.9 million patients of medical testing firm Quest Diagnostics.     • Despite a 31 percent decline in deliveries, Tesla Motors insists customer demand is strong.     • President Trump calls for a boycott of AT&T in order to force "big changes" at CNN.   S&P 500 MOVERS TOP NKTR 8.748%   CPRI 4.741%   LYB 4.633%   APTV 4.372%   BWA 4.341%   BOTTOM CNC 10.268%   FB 7.506%   GOOGL 6.124%   GOOG 6.107%   TWTR 5.516%   *from CNBC.com Top Rated Energy Stocks 1. HESM: Hess Midstream Partners 99 2. AMGP: Antero Midstream GP 98 3. NBLX: Noble Midstream Partners 98 4. BSM: Black Stone Minerals 98 5. CNXM: CNX Midstream Partners 97 Quote of the Day I'm not going to use the R-word here. All I'm going to say is that it might be time for investors to brace for a significant correction—especially with debt at record levels and the Federal Reserve left with very little firepower to combat a full-blown crisis. - Frank Holmes SPONSORED CONTENT Retire Rich on One Stock! Virginia stock-picking millionaire says, Forget diversification! Buy one single $3 stock - that trades under a secret name - and you could retire rich. His instructions are here.   Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks   › Step #2 - Join Our Premium Advisories: The Next Superstock | Triple Digit Returns | Options Cash Cow   › Step #3 - Connect With The Community: Trading Tips Official Facebook Group   Nothing in this email should be considered personalized financial advice. 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