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. 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. Instead, it would be a private, limited token to preserve purchasing power… a pretty big contrast compared to traditional currencies today.
So it's no surprise that as President Trump weighed in against the use of cryptocurrencies, many supporters of the space see that as a win. As Coinbase CEO Brain Armstrong said, "First they ignore you, then they laugh at you, then they fight you, then you win. We just made it to step 3 y'all." | | | | | | | Join the fun and win a Trading Tips Mug. What is your prediction; at which price will Netflix (NFLX) close by the end of this week? Netflix is expected to report earnings on Wednesday. To participate, just reply to this email within the next 48 hours only with your answers and winners will be selected on Monday, July 22nd. #happytrading | | | | | | | | | DOW 27,332.03 | +0.90% | | | | S&P 3,013.77 | +0.46% | | | | NASDAQ 8,244.14 | +0.59% | | | | *As of market close | | • | Stocks extended their gains into Friday, with new all-time highs across the indices and a rally into the market close. | | • | Commodities held steady, and cryptocurrencies rallied. | | | | | | U.S. Refiners Struggle Ahead of Tropical Storm Barry | | | Potential hurricane threatens refinery-rich Gulf of Mexico. | | Although a tropical storm as of Friday, forecasters warned that Barry may strengthen to a category 1 hurricane before making landfall in Western Louisiana or Eastern Texas over the weekend.
Over 25 inches of rain are expected in the New Orleans area alone, and flooding was already occurring in low spots as early as Wednesday.
» FULL STORY | | | | | | Johnson & Johnson Faces Criminal Probe on Baby Powder | | | Shares drop as DOJ pursues criminal investigation. | | On Friday, Johnson & Johnson (JNJ) shares dropped by nearly 5 percent in trading. The drop occurred as news developed that the Department of Justice was pursuing the company criminally over claims that it misled the public about possible cancer risks stemming from asbestos in its talcum powder products.
While the company has repeatedly denied any wrongdoing, it currently faces thousands of lawsuits from consumers attributing their cancer to use of J&J products.
» FULL STORY | | | | | | | Insider Activity: Francesca's Holdings Corporation (FRAN) | | Large fund owner more than doubles stake. | | On Thursday, Cross River Capital Management more than doubled their stake in Francesca's Holdings Corporation (FRAN). They did so by buying 341,973 shares of the retailer, shelling out over $625,000.
As the trade occurred below market rates, the additional number of shares was achieved off-market, and likely the result of the fund's prior debt investments in the company converting to shares at a lower rate.
» FULL STORY | | | | | | Unusual Options Activity: Tenneco Inc (TEN) | | | Big bet auto parts supplier will decline. | | A sizeable bet is being made on a double-digit drop in shares of Tenneco (TEN) between now and January.
On Friday, nearly 3,000 contracts traded on the $9.00 put option on the company. With shares at $9.50, the option is a bet that shares will decline. Based on the price of the option around $1.45, shares will need to trade around $7.50 by January for the option to be worth at least as much as it is today.
» FULL STORY | | | | | | | TOP | | JBHT | 5.903% | | | CTVA | 4.427% | | | LB | 4.044% | | | DOW | 4.039% | | | HUM | 3.947% | | | BOTTOM | | ILMN | 16.117% | | | JNJ | 4.147% | | | LW | 2.442% | | | BSX | 2.199 | | | MTD | 2.181% | | | | | | | Top Rated Stocks Under $10 | | | | | | | | | There is now only a limited amount of stimulant left in the bottle, and the sooner we use it, the sooner it will run out. I'd say that there is about a one-to-three year supply left. | - Bridgewater Associates founder Ray Dalio on the Fed using up its monetary firepower | | |
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