There's an old joke that people vote in three ways: With the ballot box, with the jury box, and if all else fails, the cartridge box. But state governments forget that folks can vote in another way as well: With their feet.
 | |  Good morning. There's an old joke that people vote in three ways: With the ballot box, with the jury box, and if all else fails, the cartridge box. But state governments forget that folks can vote in another way as well: With their feet. While the trend has been noticeable in California, the high-tax state of New Jersey is seeing a massive exodus of its middle class.
It might have something to do with the state income tax of 10.75 percent on anyone with an income over $1 million—a number that commuting Wall Street traders may be keen to avoid (and on top of Federal taxes). Or the property taxes, some of the highest in the nation. Or maybe it's just all of the above. In investing and in life, it isn't just growing what you have, it's keeping what you have in the first place. | | | | | |
| | |  | DOW 27,230.67 | +0.14% | | |  | S&P 3,021.56 | -0.14% | | | | NASDAQ 8,293.33 | -0.44% | | | | | *As of market close | | | • | Stocks traded flat on Monday, as earnings season continued to unfold and the Fed expected to move on interest rates later in the week. | | | | • | Oil rose about 1 percentt. and gold rose about 0.4 percent. Cryptocurrencies moved less than 1 percent on average. | | | |
| | | Traders Eye Fed Rate Cut This Week | | | | After hitting new all-time highs last week, the market moved to a wait-and-see mode on Monday.With little market-specific trade to start the week, traders awaited other events, particularly a potential cut in interest rates by the Federal Reserve later in the week.
Data on prior Federal Reserve cuts have shown that the Fed has gone through 19 easing cycles of interest rate cuts since the 1950's.
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| | Trade War Hits Ethanol Industry | | | | As the trade war between the United States and China continues to unfold, another industry stateside is feeling the brunt—possibly to the point of bankruptcy.
That industry is ethanol, the biofuel blend that's used as an additive to gasoline, often created from corn. Before the trade
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| | Insider Activity: Air Products & Chemicals (APD) | | | | On Friday July 26th, Air Products & Chemicals (APD) CEO Seifi Ghasemi picked up 20,000 shares of the company. At $227 per share, the total cost came to a whopping $4.5 million bet on the company. The new buy brings his total share count to nearly 454,000 shares.
This marks the first insider buy at the company for 2019, and only one insider has sold shares at the industrial giant this year.
» FULL STORY | | | | |
| | | | Unusual Options Activity: Anheuser-Busch Inbev (BUD) | | | On Monday, a bullish bet was made on Anheuser-Busch Inbev (BUD), maker of Budweiser and other beverages and spirits. The bet was on the January 2020 $90 call options on the stock, expiring 171 days from now.
Over 15,000 of these contracts traded, against an open interest of 1,233, making for a 12-fold surge in volume on the option.
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| | | | TOP | | | MYL | 12.568% | | | | CMG | 3.74% | | | | CI | 2.953% | | | | CL | 2.551% | | | | MAT | 2.399% | | | | BOTTOM | | | NKTR | 5.945% | | | | NOV | 4.788% | | | | PFE | 3.806% | | | | AMG | 3.776% | | | | HAL | 3.691% | | | | | PFE
| | |  | | …a rate cut with the S&P 500 close to or at a record high as is the case currently is a strong exception to this pattern, having happened only once previously, in 1995." | - Deutsche Bank on how unusual an interest rate cut this week would be based on the Federal Reserve's history of not cutting interest rates until stocks have declined at least 12 percent. | |
| | Former Forklift Operator Turned Millionaire Shares the Secrets to His Success | | | | | | | He started out making $8,000 a year. Now he's a millionaire many times over — thanks in part to this innovative trading strategy. He developed a formula for "flipping stocks" that leverages the power of real estate — and combines it with the speed and power of the US stock market. The secret has made him millions... and now he's "opening the vault" and teaching ordinary folks the very techniques and strategies that he has used to build his fortune. Learn the details here. | | |
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