Stocks and Securities
U.S. stock futures are under pressure Monday, with investors remaining concerned about trade fights as President Donald Trump talked tough again on trade with the European Union.[finviz ticker=SPY width=400] [finviz ticker=IYY width=400] [finviz ticker=QQQE width=400] [finviz ticker=IWM width=400]
A Financial Times report on Sunday said the European Union has threatened $300 billion in fresh tariffs against U.S. products if Trump follows through on his threatened 20% levies targeting the trade bloc’s auto makers. And Canadian retaliatory tariffs took effect Sunday, with those measures serving as a response to U.S. metals tariffs.
On the data front, Global equity funds have seen outflows of $12.4 billion in June, a level not seen since October 2008, according to market research firm TrimTabs. Lehman Brothers collapsed in September of that year, triggering the worst economic downturn since the Great Depression and helping fuel a bear market in which major indexes lost more than 50 percent of their value. If the trend holds up, it will make the first time global equities have seen net outflows since November 2016.
Blockchain and cryptocurrency
The overall market capitalization increase about $3B USD, or just about 1%, going from $253B to $256B. Blockchain purist and enthusiasts can be happy to note that a self-claimed Satoshi Nakamoto recently announced that there is a book in the works. The book which will be about Bitcoin and its history, will include two parts. The individual stated on http://nakamotofamilyfoundation.org/ that,
first excerpt to a literary work consisting of two parts. The excerpt is provided. I wanted to include it as a brief glimpse of history. Even for those that can’t read the full book, I wanted to make this available to everyone. A short story if you will, with some of the most brought up questions and answers. I wanted the people and the facts to be known. Or as much of it. I’m still saving most for the books, the best parts hopefully. It’s currently just a possibility for now.
Bitcoin seems to be rallying a bit this morning, which could be attributed to the stocks futures lagging behind.
Continue to watch the $6300 – $6500 resistance for Bitcoin.
On the other note, the price action of ETH is what you’d like to see. If you refer to our previous article, we highlighted the low this key area as the zone to watch for a major bounce-back. Look for ETH to attempt to break through this downtrend, if ETH fails to breakout, then it could potentially drop back to the first support ($375 – $400).
Bitcoin continues to stay within range. The price has not moved significantly since our publication of our previous report. It is imperative to note that our bearish sentiment continues to stand, however, BTC seems to have found a base here and could potentially rally.
Ethereum seems ready to breakout. Look for ETH to breakout of this downtrend in the coming days.
Stocks on the Radar
Avalara Inc. (AVLR) [stock_quote symbol=”AVLR”] – Our “Radar Stock” for the day is Avalara (AVLR). Avalara, which went public with its IPO two weeks ago, sells automated tax compliance software for enterprise use and offers integrations with software giants like Oracle, Workday and Stripe. Avalara’s motto is “tax compliance done right” and their mission is to enable companies to focus on their core business and not worry about tax compliance — their vision is to be part of every transaction in the world.
There are thousands of local, regional, state, and federal taxing authorities in the U.S. and internationally that impose a variety of transaction taxes that businesses must comply with, which include tax obligation, collection, remittance, records of registrations, tax exemption certificates, and other compliance documents. Avalara’s core market are SMB to mid-market companies ranging from 20 to 500 full-time employees and in many cases these companies don’t have any software systems to track their tax compliance and/or file taxes. Moreover, the U.S. government collects many millions of dollars per year in fines from companies that don’t comply and/or make errors with their taxes. While regulation may be decreasing at the federal level, commerce is becoming more global and local and state regulations are increasing. For example, the company reveals that digital music downloads are currently taxable in New Jersey but tax exempt in Iowa.
The company’s core product offering, AvaTax, processes transaction tax determinations on average in under 60 milliseconds and in 2017 processed an average of over 16 million tax determinations per day, including 58+ million on Cyber Monday.
We would be buyers of the stock in the $46 range.
[finviz ticker=AVLR width=600]
Stocks on the Radar will remain FREE to our readers until END OF JULY, 2018, SUBSCRIBE NOW and use the COUPON: MORNINGCOFFEE to get 25% off our current rate of the Bronze Plan. Starting August 1st, 2018, we will be charging $25/month for our subscription package.
subscribe to our research
Subscribe to our research to gain access to our outstanding research articles covering both stocks and securities and blockchain and cryptocurrency. We do not publish frequent reports, however, the quality of our research is outstanding. Our readers can expect one to four research quality articles per month. Upon subscribing, members gain access to our extensive research on securities, blockchain projects and crypto assets. Our reports include details regarding, the demand and the market, roadmaps, strengths and weaknesses of the team and advisory board, key partnerships and associations, competitions and key concerns, tokens and supply – for blockchain projects.[supsystic-price-table id=8]
Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. The Author does not hold any of the securities discussed above.
Legal: The information contained on this site is provided for general informational purposes, as a convenience to the readers. The materials are not a substitute for obtaining professional advice from a qualified person, firm or corporation. Consult the appropriate professional advisor for more complete and current information. Point Pleasant Park Capital (“The Company”) does not engage in rendering any legal or professional services by placing these general informational materials on this website. The Company specifically disclaims any liability, whether based in contract, tort, strict liability or otherwise, for any direct, indirect, incidental, consequential, or special damages arising out of or in any way connected with access to or use of the site, even if I have been advised of the possibility of such damages, including liability in connection with mistakes or omissions in, or delays in transmission of, information to or from the user, interruptions in telecommunications connections to the site or viruses. The Company makes no warranties about the accuracy or completeness of the information contained on this website. Any links provided to other server sites are offered as a matter of convenience and in no way are meant to imply that The Company endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorse any information contained on those sites, unless expressly stated.