Stocks and Securities

U.S. stocks futures are poised to open higher this morning after closing the week strong in light of the July Employment Situation report. The week closed by pushing the S&P 500 higher 0.5%, Dow Jones Industrial Average 0.5%, and Nasdaq by 0.1%, as the Russell 2000 stumbled lower by 0.5%.

Most of the positive momentum could be attributed to Apple (AAPL) – the first $1 trillion company – posted a $11.5 billion profit for the three months ending in June, up 32% from the same period a year agoApple (AAPL) revenue increased 17% to $53.3 billion, a new record for its fiscal third quarter. The jump comes despite flattening iPhone unit sales. Apple (AAPL) sold 41.3 million iPhones during the three months ending in June, little changed from the 41 million it sold in the same period a year ago.

We continue with our earnings narrative as S&P 500 higher 13 points (0.46%), Dow Jones Industrial Average higher 136 points (0.54%), and Nasdaq up by 9 points (0.12%), as the Russell 2000 lower by 8.73 points (-0.52%). Looking to U.S. Treasuries climbed higher on Friday, which sent yields lower. The result was the 10-yr yield dropping three basis points to 2.95%. The U.S Dollar Index finished just below the 13-month high of $95.

  • Reporting Today – Monday (August 6)
    • Morning: BID CAH NWL SEAS TSN
    • Afternoon: CDEV ETSY HTZ MAR MOS OSTK RNG TWLO TLND WTW ZG

Notables for today include, Zillow (NASDAQ:ZG), Tyson Foods (NYSE:TSN) and Marriott International (NYSE:MAR

Dow Industrial AverageS&P 500Nasdaq 100Russell 2000

 

 

 

 

 

 

 

 

 

 

 

We would be foolish to ignore the news of Tesla (TSLA) earnings and how it shocked Wall Street and investors alike. On Thursday, investors saw shares of Tesla (TSLA) soar more than 15%. The combination of reaffirmation of guidance, higher than expected revenues and an apology from the from the Tesla (TSLA) CEO, Elon Musk, helped investors look over the larger than expected loss of $3.06.

This coming week, investors could expect to see Tesla (TSLA) 10-Q filing which will contain various data points that will surely become talking points for investors and analysts alike. Expect an update from rating agency or two as well as they work to re-evaluate the future value of Tesla (TSLA). 

When is the best time to buy Tesla (TSLA)? See below.

 

West Texas Intermediate crude (WTI) for September delivery on the New York Mercantile Exchange up $0.92, or 1.34% or at $69.41 a barrel. September Brent crude up $0.75 at $73.96 a barrel. 

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

 

 

 

 

 

 

We continue to remain bullish on our Oil outlook, as most economic data indicates a decline in overall inventories, thus higher oil prices are to be expected in the second half of 2018.

 

Blockchain and Cryptocurrency

The price of both Bitcoin (BTC) and Ethereum (ETH) continues to slide today, as Bitcoin (BTC) is again trading under $7000. Bitcoin (BTC) price down 0.88% to $6980 and Ethereum (ETH) down 0.13% trading at $407. Market capitalization decreased to $253 USD. This 24 hour volume of $11.1B is lower yesterday. BTC dominance of 47.4% is up about 0.3% compared to yesterday.

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

 

 

 

 

 

 

Read our recent post consisting of Technical Analysis for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCC), Cardano (ADA), Stellar (XLM), Digibyte (DGB), NEO (NEO), EOS (EOS), and Nucleus.Vision (NCASH).

It is hard to imagine this continued slide despite the renewed slew of positive momentum for the space. It appears that corporations are beginning to see the potential of cryptocurrencies and are making moves to in attempt to accept and incorporate cryptocurrencies into their business models.

For instance, Starbucks (SBUX) stated that they have partnered with Microsoft which will allow for customers to pay for Frappuccinos with Bitcoin (BTC). This partnership, which also includes ICE, is a platform called Bakkt which will allow for customers to pay for for their coffee with Bitcoin (BTC)Starbucks (SBUX) had to clarify that they are not “accepting digital assets at Starbucks. Rather the exchange will convert digital assets like Bitcoin into US dollars, which can be used at Starbucks.”

That’s not all, it appears that the NFL Players Association has acquired a minority stake in a blockchain company called SportsCastr. SportCastr allows for anyone to become colour commentators. Thus, this partnership will allow for active and former NFL players will use SportsCastr to provide live commentary across a wide range of professional and collegiate sports, share personal insights, and more.

We will continue to watch this space for now as things continue to develop.

 

Stocks on the Radar

If you have not have the chance to look at our new segment – ETF ALPHA please take the time to do so. There we have highlighted potential trades from 16 different ETFs. There are some great ETFs to buy in this week’s post. If you are unsure about the benefits of trading ETFs then please read our post here.

We hate to brag but we nailed our ETFs plays for last week. Our hot streak continued last week. With notables such as DRN (+8.6%) and INDL  +3.5% (+12.2% since our recommendation). Additionally, BRZU +5.67% (+14% since our recommendation) and DRN +10% from our buy zone.

Below is our today’s list of cryptocurrency and stocks to buy or to invest in: