Cryptocurrencies aren't just a new asset class—they're a strong contrarian streak to the entire investment universe. After all, it was meant to be a currency that wasn't issued by a government, and one that couldn't be created at will.
 | |  Good morning. We've joked a few times that the Trump White House is a great place for well-paid, but short-term work. The latest potential job opening? Secretary of Commerce. Currently held by Wilbur Ross, rumors are circulating that Ross may be on the chopping block after the administration lost a case before the Supreme Court on including a question about citizenship in the 2020 census.
While Ross is a billionaire… and 81 years old… it's still a strong job market, and after two and a half years, no prospective future employer would ding a candidate for that much time at the same job. | | | | | | | | |  | DOW 27,359.16 | +0.10% | | | | S&P 3,014.30 | +0.02% | | | | NASDAQ 8,258.19 | +0.17% | | | | | *As of market close | | | • | Stocks traded flat on Monday, but all three indices closed in the green. | | | | • | Commodities also traded flat, but cryptocurrencies rallied after a large weekend selloff. | | | |
| | | Chinese Economic Growth Slumps to 30-Year Lows | | 
| | Trade war uncertainty impacts growth rates in China. | | On Monday, Chinese economic data indicated that the second quarter of 2019 was the slowest the country has grown in more than 27 years. At current rates, China will "only" grow at an annualized 6.2 percent, as measured by Gross Domestic Product.
The number was slightly lower than the first quarter, and consequently indicates an increased likelihood of a sustained slowdown.
» FULL STORY | | | | |
| | Tropical Storm Barry Could Lead to Higher Food Prices as Midwest Floods | |  | | Midwest adds Barry to a year full of high rainfall and flooding. | | Although Tropical Storm Barry fortunately failed to strengthen to a hurricane before making landfall over the weekend, the powerful storm system is now moving northward up the Mississippi River area, adding to a region already dealing with high levels of rainfall and flooding this year.
Consequently, the already impacted spring planting season may be ruined, and a surprising number of food shortages could develop as a result.
» FULL STORY | | | | |
| | | | Insider Activity: G-III Apparel Group (GIII) |  | | CEO makes million-dollar buy. | | On Thursday, G-III Apparel Group CEO Morris Goldfarb bought 40,000 shares of his own company. Besides increasing his total stake to over 3.9 million shares, the $26.47 price per share means he spent over $1.05 million picking up shares of the firm.
This follows on a previous purchase by Goldfarb back on June 13th. Then, he picked up 40,479 shares, paying $1.02 million.
» FULL STORY | | | | |
| | Unusual Options Activity: Tesla Motors (TSLA) | |  | | Multiple options trades imply shares will decline again. | | Multiple bets are being made that shares of Tesla Motors (TSLA) will drop again in the coming weeks.
On Monday, over 10,000 contracts traded on an August $60.00 put—a 75 percent discount from where shares trade around $240. Another large trade occurred on the October $215 put, which implies a 10 percent discount between now and October.
» FULL STORY | | | | |
| | | • | Amidst a default, European leaders struggle to save the Iranian nuclear deal. | | | | | • | The latest trade war tiff? Between Japan and South Korea, largely over the issues of World War II atrocities. | | | | | • | As cell phone companies look to roll out the 5G network, the big winner may be cell tower companies. | | | | | • | Homeownership rates for Hispanics have increased more than any other ethnic group, per Census Bureau data. | | | | | • | Following the success of other hotel chains, Hilton looks to add 11-high end properties this year. | | | | | • | In a rich year for IPOs, Anheuser-Busch InBev fails to move forward on its plan to IPO in Asian markets. | | | | | • | In biotech, Gilead Sciences turned down megamerger, but signs deal with Galapagos. | | | | | • | Uber sets diversity, inclusion, and equity goals. | | | | | • | As Amazon Prime Day kicks off, German workers go on strike over pay and conditions. | | | | | • | In earnings, Citigroup (C) shares traded flat after beating on earnings and revenue estimates. | | |
| | | | TOP | | | CF | 3.704% | | | | AMD | 3.553% | | | | WYNN | 2.898% | | | | GILD | 2.732% | | | | RCL | 2.461% | | | | BOTTOM | | | SYMC | 10.677% | | | | XEC | 4.457% | | | | NBL | 4.354% | | | | FANG | 3.988% | | | | IPGP | 3.96% | | | | |
| | |  | | It may be counter-intuitive, but a likely rate cut this month means long-term Treasuries are vulnerable. That's because what the central bank ultimately wants is faster inflation, which will eat into demand for long-duration assets | - Bloomberg commentator Wes Goodman on a likely Fed rate cut this month  | |
|
No comments:
Post a Comment