Stocks and Securities

U.S. stocks futures are set to open higher on Thursday,As President Trump has changed his tune regarding NATO. In the recent WSJ article, stated that President Trump has reaffirmed his commitment to NATO after secretary-general called an emergency session to address the president’s demands that allies immediately meet the 2% military-spending target set for 2024.

Dow Industrial AverageS&P 500Nasdaq 100Russell 2000

 

 

 

 

 

 

 

 

 

 

 

Oil prices have increased overnight as well after yesterday’s decline due to news from Libya. We still believe oil will resume it’s uptrend despite this mornings news. Crude Oil is up $0.50 (0.7%), while Brent prices increased $0.83 (1.13%) after dropping from about $78/79 having come close to a  three-year high.  This is a great opportunity to continue to add to your Oil picks such as the ones we have suggested.There are several names such as Anadarko Petroleum (APC) and Occidental Petroleum (OXY) which we believe will be two of the leading benefactors of higher oil prices going forward.

Crude oil WTI - Oil markets and oil pricesCrude oil Brent - oil markets and oil prices

 

 

 

 

 

 

Quick note on the biotech sector and the NASH space. We saw shares of Galmed Pharmaceuuticals (GLMD) shoot up more than 25% yesterday after Cantor Fitzgerald initiated a coverage with an overweight rating and a price target of $59.00. We have seen a significant push from various companies to find a cure for NASH. We have provided our readers with two potentially great investing opportunities  in both  Viking Therapeutics (VKTX) and CohBar Inc. (CWBR) – for our premium subscribers. Hence, highlight the two once gain for our daily Stocks on the Radar.

 

Blockchain and cryptocurrency

Bitcoin (BTC) and Ethereum (ETH) both continued their slide in the past 24hrs. The Market capitalization decreased from $253B to $245B USD which is a sharp 3% drop in just 24hours. The 24hr volume of $11B is also lower than the $13B on Wednesday. BTC dominance of 43.3% is unchanged compared to yesterday.

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

 

 

 

 

 

 

Read our technical analysis on Bitcoin (BTC) and Ethereum (ETH) – the general consensus from analysts still seems to be very bullish, however, crypto continues to fail to gain traction due to lack of volume.

It was yesterday that we reported that South Korea is thinking of loosening ban on Cryptocurrencies and ICOs. Today, we find that India has also begun to change its tun regarding the legality of cryptocurrencies. In April, the Reserve Bank of India (RBI) issued a memo stating that all regulated financial institutions in the country are banned from allowing their costumers to purchase cryptocurrencies.

However, recent reports from India are stating that they have begun drafting regulatory framework which would then classify cryptocurrencies as commodities.

Hopefully, the slew of removal of such bans by countries such as South Korea and India can help breath some life back into this space.

Stocks on the Radar

CohBar Inc.(CWBR) – Read the full report here.

CWBR Stocks Chart

 

Viking Therapeutics Inc (VKTX) – The company’s clinical programs include VK5211, an orally available, non-steroidal selective androgen receptor modulator (SARM) in Phase 2 development for the treatment and prevention of lean body mass loss in patients who have undergone hip fracture surgery. VK2809, a small molecule thyroid beta agonist in Phase 2 development for the treatment of non-alcoholic fatty liver disease (NAFLD) and hypercholesterolemia. Viking is also developing novel and selective agonists of the thyroid beta receptor for glycogen storage disease type 1a (GSD 1a) and X-linked adrenoleukodystrophy (X-ALD), as well as programs targeting diabetes, metabolic diseases and anemia. They recently did a share offering to raise capital thus you can expect that to be out the way.

VKTX Stocks 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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