🏄 Safe Havens Surge as Stocks Skid

Everything is tracked these days, from your Amazon package to the location of your Uber or Lyft driver. While it may seem as though anything can be tracked, there are still a few things in life we simply have to wait for.
Good morning. Everything is tracked these days, from your Amazon package to the location of your Uber or Lyft driver. While it may seem as though anything can be tracked, there are still a few things in life we simply have to wait for.

Enter Marriott International, which will launch a new program through its app that will allow you to track the location of your complimentary hotel shuttle van. That's one less mystery left when travelling, but we're still waiting on an app to track where our luggage ends up on the carousel rack at the airport. Chances are we won't have to wait long.
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MARKETS
DOW 26,007.07 -0.09%
S&P 2,883.98 +0.08%
NASDAQ 7,862.83 +0.38%
*As of market close
Stocks dropped sharply at the open on Wednesday, as bond yields continued falling and trade concerns lingered, but moved off the lows to close the day essentially flat.
Oil dropped again on supply data, closing in on $51 per barrel.
Gold surged to over $1,500 per ounce, and silver rose above $17. Bitcoin likewise soared over $12,000.

Today's TOP TIPS
Safe Havens Surge as Stocks Skid
U.S. 10-year Treasury bonds fell below a 1.6 percent yield on Wednesday, as investors continued to pile into the safe haven of government bonds. As bonds are quoted by their yields, not their price, a falling yield indicates a rising price.

Other assets seeing a rise in prices right now include gold. The metal popped over $1,500 per ounce on Wednesday, still at a six-year high.

» FULL STORY

Oil Hits Seven Month Low
Oil prices have slid further in recent days thanks to rising fears that trade war tensions between the U.S. and China will significantly cut back on global trade. Less trade means less energy use, which in turn has sent oil prices lower.

Adding to these short-term fears as weekly data indicates an inventory build after a few weeks of sharp declines.

» FULL STORY

Insider Activity: Archer-Daniels Midland Co (ADM)
On Tuesday, August 6th, Ray Young, CFO at Archer-Daniels Midland (ADM), picked up 3,400 shares. His total cost came to just under $125,000. The buy increases his holdings at the company to over 353,000 shares.

As the head of finance at a company, a CFO buy is a strong buy signal for investors, as the company may have more room to run ahead, or is otherwise undervalued on a fundamental basis.

» FULL STORY

Unusual Options Activity: The Walt Disney Company (DIS)
Shares of The Walt Disney Company (DIS) sold off on Wednesday, following an earnings miss. Although shares are still up for the year, one trader is making an unusual bet that shares will head back to new all-time highs by September 2020. That's based on the surge in trading on the September 2020 $170 calls—about 26 percent higher than where shares traded around $135 following their earnings miss.

» FULL STORY

IN OTHER NEWS
China lowers the value of the yuan again, fueling uncertainty in global markets.
The trade war is also spilling over globally, creating a "perfect storm" for industrial giant Germany.
And three central banks in the Asia-Pacific region cut interest rates to stay competitive.
While the trade war news has been negative, it has brought in $63 billion to the U.S. Treasury.
Changing tax laws are driving more Americans to invest in municipal bonds, raising prices and lowering yields there.
FedEx ends its ground delivery contract with Amazon.
Walgreens plans to close about 200 locations across the United States.
In tech, Toyota partners with AI startup Preferred Networks to create helper robots.
In earnings, CVS reports stronger-than-expected earnings as Aetna deal pays off, and shares rally.
Teva Pharmaceutical also reports better-than-expected earnings, but shares dive.

S&P 500 MOVERS
TOP
FLT 8.205%
AIZ 7.534%
CVS 7.451%
KR 7.271%
MCHP 3.95%
BOTTOM
ABMD 5.262%
DIS 4.941%
SIVB 4.709%
SCHW 4.644%
CFG 4.457%
PFE
Quote of the Day
…if growth worries persist, possibly due to a trade war escalation, gold could go even higher driven by a larger ETF gold allocation from portfolio managers, who still continue to under-own gold. Specifically we argued that 2019 gold ETFs build could reach the pace similar to Jan- Oct 2016, which is the last time DM growth was so low
- Goldman Sachs analyst Sabine Schels on the case for gold to rally to $1,600 or higher

Sponsored Content
Just Released: The Top 8 Stocks to Buy for 2019
Of the nearly 4,500 publicly traded stocks on the market, no more than 50 deserve your money. And only 8 are trading at a price that makes them worth buying. These stocks knock it out of the park year after year because they sell products that people can't stop buying. Free video explains why.
 
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