Stocks and Securities

U.S. stock futures are climbing ahead of Thursday’s open as investors awaited the release of a summary of the Federal Reserve’s most-recent meeting, with tech and energy shares rising.

Around 7 a.m. ET, Dow Jones Industrial Average futures rose 147 points, indicating a positive open of 155.18 points. Nasdaq 100 and the S&P 500 futures also indicated solid gains at the start to their respective trading session. The moves Thursday come after equities closed near their session lows on Tuesday, as lingering concerns around trade and a rollover in tech shares pushed stocks down before the Fourth of July holiday.

 

Dow Industrial AverageS&P 500

Nasdaq 100Russell 2000

 

 

 

 

 

 

 

 

 

 

 

Chinese stocks fell on Thursday and the yuan wavered against the dollar a day before China and the United States were set to hit one another with punitive tariffs that risked triggering a full-scale trade war.

Markets have been on edge ahead of Friday, when U.S. tariffs on $34 billion worth of Chinese products – and retaliatory Chinese tariffs on U.S. goods of the same value – are expected to kick in.

Crude oil prices saw mixed activity today, widening the spread between WTI and Brent crude as Libya’s oil production continues to suffer. Meanwhile, Saudi Arabia as well as the UAE are professing to increase production to offset production losses in Libya, Venezuela, and soon Iran.

 

Crude oil WTICrude oil Brent

 

 

 

 

 

 

In addition, Goldman Sachs  reiterated its broadly bullish view on commodities was bolstered by strong global growth and depleting inventories in energy and metal markets that would likely result in higher prices. The bank maintained its “Overweight” assessment of the commodities space, and said it has a 12-month expected return of 10 percent for its S&P Goldman Sachs Commodity Index.

As a result, we are reiterating our positive view on shares of APCAnadarko Petroleum Corporation (APC) is also a U.S. company engaged in petroleum and natural gas gathering, processing, treating and transportation.  Though it also operates internationally, 86% of Anadarko’s revenues come from the U.S. in Texas, Colorado, Utah and Wyoming.

Anadarko has recently invested in significant new infrastructure projects and expects to have new Regional Oil Treatment Facilities (ROTFs) online and operational later in 2018.  The company describes this strategy as “capital-efficient growth, while generating free cash flow to drive the return of capital through shares repurchases, increased dividends and debt retirement.” Earnings estimates for Anadarko have grown significantly this year and they are now expected to net $2.54/share in 2018, a 75% increase over the estimate of $1.44/share 90 days ago.

 

Blockchain and cryptocurrency

Bitcoin (BTC) continues its slow and steady climb and seems to be making a move for the $7000. Similarly, Ethereum (ETH) has also been showing some strength in the last few days as well. Perhaps this is a sign for good things to come for the cryptocurrency economy.

Bitcoin price - BTC/USD chartEthereum (ETH) chart - ETH/USD

 

 

 

 

 

As you can see below, BTC seems to have broken out of what seemed like a long bearish trend. Could this be a sign of a bull market ahead? We will know within the next week or so.

Bitcoin (BTC) seems to have broken through the resistance line

Bitcoin (BTC) seems to have broken through the resistance line

Our technical analysis on Bitcoin (BTC) will be updated today at some oint with more detailed views of Bitcoin’s recent rally. continues to stand.On the other note, the price action of ETH is looking bullish. As highlighted in our previous article, ETH is up approximately 12% since we last added it to our watchlist and we believe that it still has much more room for growth, the next resistance is $550 range.

Ethereum (ETH) looking bullish

Ethereum (ETH) looking bullish

In other news, A 3rd lawsuit, alleging securities fraud, was filed last week towards Ripple Labs Inc, XRPII LLC, and its CEO Bradley Glaringhouse. In 28 pages, the class action suit makes an attempt to make the case XRP is a security: issued, maintained, and supported by Ripple in clear violation of US regulatory legal guidelines. Ripple has laboured extraordinarily hard to distance itself from its cryptocurrency, XRP, in hopes of avoiding simply this state of affairs. Ripple (XRP) is down more than 80% since the all-time-highs of $3.00.

The head of the Bank for Worldwide Settlements (BIS) continued the establishment’s crucial stance on cryptocurrency, stating that cannot assume the features of cash BIS reports July 4.

Talking to Swiss newspaper Basler Zeitung last week, subsequently revealed by BIS itself, general manager Agustin Carstens cautioned young investors in his report titled “My message to young people: stop trying to create money”. He cautioned that “Those that have the largest incentive within the system of those so-called cryptocurrencies are those that produce the belongings – the miners. This has resulted in controversy and outrage on the internet from investors.

Interestingly, a research article from the European Parliament titled ‘Virtual currencies and central banks monetary policy: challenges ahead’ gave cryptocurrencies an unexpected stamp of approval after a spate of negativity and warnings from central banks. They believe that in the future, cryptocurrencies could potentially become “money”, stating that,  “transaction networks” are “relatively safe, transparent, and fast”.

The price of Bitcoin is generally tied with Stocks, as stocks rally, Bitcoin generally continues to decline. This is something to keep in mind.

 

Stocks on the Radar

Anadarko Petroleum Corporation (APC) as stated above, working primarily within the Delaware Basin in West Texas and New Mexico in addition to in Northeast Colorado and the Gulf of Mexico. Anadarko at present produces roughly 643,000 barrels per day and expects that quantity to extend to a median of 658,000 to 685,000 barrels per day for the total yr 2018. Having topped analyst estimates in the newest quarter, reporting revenues of $3.045 billion and earnings of $0.52/share, the company is anticipated to earn $2.73/share in 2018. Whereas oil costs could come down over the following few weeks, any interval of robust international financial development and unsure overseas oil manufacturing, particularly from Venezuela and Iran, ought to increase costs later this yr and regular rising U.S manufacturing ought to place Anadarko Petroleum as a prime beneficiary within the oil sector.

 

APC chart

 

 

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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.
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