Passport to Wall Street http://www.pws.io/ pl-PL Copyright 2019, Passport to Wall Street 60 Trump Weekly: Iran, The Fed, and Trade, Oh My! http://www.pws.io/trump-weekly-iran-the-fed-and-trade-oh-my <p class='black-text'>Much of Trump's decisions this week have been affected by the drone attacks that occurred Saturday in Saudi Arabia.</p><p class='black-text'>Trump wrote in a tweet on Sunday that, "there is reason to believe we know the culprit" behind the attacks, adding that the U.S. is ready to respond to the attackers verification.</p><p class='black-text'>On Monday, before a meeting with the crown prince of Bahrain, Trump met with white house reporters and stated that it looks like Iran was behind the attack. The president said he did not want war with Iran but added that U.S. is prepared for conflict with any other country.</p><p class='black-text'>Trump also attacked the Federal Reserve, calling for a stimulus due to the skyrocketing oil prices earlier in the week. Trump continued to try and sway that decisions of the Fed to cut interest rates before their two day meeting that started Tuesday.</p><p class='black-text'>Later on Twitter, Trump suggested that lawmakers should investigate former U.S. president Barack Obama instead of him, citing his recent book deal and Netflix documentaries. Trump seems to be trying to divert attention away from himself.</p><p class='black-text'>On Tuesday, Trump stated that a trade deal with China could happen soon, speaking with reporters aboard Air Force One. Trump said that an agreement could come before or one day after the 2020 election.</p><p class='black-text'>"If its after the election, it'll be the toughest deal anybody's ever had to make from the standpoint of China, and they know that," Trump stated.</p><p class='black-text'>On Wednesday, Trump tweeted his disapproval of the Fed after the bank reduced its benchmark shirt-term rate to a range between 1.75% and 2%.</p><p class='black-text'>Trump tweeted that, "Jay Powell and the Federal Reserve fail again" and referred to chairman Powell as having "No 'Guts'" and being a terrible communicator.</p><p class='black-text'>After his Twitter storm, Trump named Robert O'Brien to be his next national security advisor to replace John Bolton, who departed from his position last week. O'Brien is the fourth national security advisor to serve Trump.</p><p class='black-text'>Trump also stated that he ordered Treasury Secretary Steven Mnuchin and the Treasury Department to "substantially increase" sanctions on Iran. The U.S. moved forward and accused Iran of carrying out the weekend attacks on Saudi Arabia's oil fields.</p><p class='black-text'>On Thursday, Trump filed a lawsuit against Manhattan District Attorney Cyrus Vance Jr. and his longtime accounting firm just days after the news broke that the municipal prosecutor subpoenaed years of Trump's personal and corporate tax returns. This is a continuation of Trump's attempts to acquire tax documents that Trump wants to have hidden from public knowledge. He promised to release the tax returns after the completion of an IRS audit.</p><p class='black-text'>Finally on Friday, Trump spoke at a news conference with Australian Prime Minister Scott Morrison that he was looking to complete trade deal with China and that it did not have to come before the next presidential election 2020. Th U.S. Trade Representative's office is exempting more than 400 items produced in China from tariffs, a move that has helped U.S. manufacturers.</p><p class='black-text'>Trump then officially increased Iran sanctions, included the Iranian National Bank in the Oval Office, calling them the highest ever imposed on the country.</p><p class='black-text'>Trump ended his week by responding to a whistleblower rumor that he had an incriminating conversation with a foreign leader and a promise that Trump made to them. He denied any type of conversation along those lines.</p> http://www.pws.io/trump-weekly-iran-the-fed-and-trade-oh-my Fri, 20 Sep 2019 15:34:03 -0400 Rachel Hemple Market Update: Chinese Trade Officials Leave Early http://www.pws.io/market-update-chinese-trade-officials-leave-early <p class='black-text'>All major U.S. stock market averages dipped today after a rather positive morning trading session following the news that Chinese trade officials canceled a visit to U.S. farms in Montana, which was scheduled to take place after trade meetings in Washington D.C.</p><p class='black-text'><b>Here's how the U.S. Stock Market closed Friday after a volatile week:</b></p><p class='black-text'>Dow Jones Industrial Average (DIA): -0.59% or 159.72 points</p><p class='black-text'>NASDAQ Composite Index (QQQ): -0.80% or 65.21 points</p><p class='black-text'>S&P 500 Index (SPY): -0.49% or 14.72 points</p><p class='black-text'>U.S. and Chinese trade officials met in Washington D.C. Thursday and Friday in person for the first time in months. President Donald Trump has announced that he does not believe that it is important for U.S. and China to have a trade agreement before the 2020 election. Higher-level trade negotiations are still scheduled to take place in October.</p><p class='black-text'>In Federal Reserve news, Friday the New York Federal Reserve added another $75 billion into the financial system in a fourth overnight repo transaction this week. This <a href="https://www.newyorkfed.org/markets/opolicy/operating_policy_190920">decision</a> is to help bring interest rates back within the new set range of 1.75% and 2.00% that was announced earlier this week. The New York Fed also announced that these repo operations will continue through October 10.</p><p class='black-text'>In sector news, U.S. Industrial and Consumer Discretionary sectors have been negatively affected by the trade uncertainty with Chinese trade officials not visiting the U.S. farm belt Friday. Information Technology also took a dip of -0.81% as investors begin to react to trade tensions further.</p><p class='black-text'>In oil news, oil prices seem to have stabilized at the end of the week. Prices have been heavily affected by the Saudi Arabian oil attacks, which lead to a skyrocketing of prices earlier in the week. On Friday, crude oil futures have lowered from their Monday and Tuesday rates, with prices being set at $58 per barrel. Brent crude oil futures have also lowered at the end of the week, settling around $64 per barrel Friday. It seems that oil prices are on their way to return to pre-attack rates as Saudi Arabia expects to be back to normal production by the end of the month.</p><p class='black-text'>Monday's market summary will continue to follow the trade war tensions and how the U.S. market responds.</p> http://www.pws.io/market-update-chinese-trade-officials-leave-early Fri, 20 Sep 2019 14:46:34 -0400 Rachel Hemple Amazon Plans to Have Net Zero Carbon Emissions by 2040 http://www.pws.io/amazon-plans-to-have-net-zero-carbon-emissions-by-2040 <p class='black-text'>Amazon CEO Jeff Bezos announced Thursday that the company will be committing to meet the goals set out in the Paris Agreement 10 years early, calling the co-founded commitment <a href="https://sustainability.aboutamazon.com/sustainable-operations/amazon-co-founds-the-climate-pledge-setting-goal-to-meet-the-paris-agreement-10-years-early?tag=theverge02-20">The Climate Pledge</a>. The pledge is an initiative between Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Global Optimism and calls on all signatories to be net zero carbon emissions across their businesses by 2040, with the Paris Agreement's goal being 2050.</p><p class='black-text'>The Paris Climate Agreement of 2015 seeks to limit global warming to less than 2 degrees Celsius and meaningfully reduce man-made emissions by 2050.</p><p class='black-text'>By signing the pledge, Bezos promised to measure and report the company's emissions on a regular basis, implement decarbonization strategies and alter its business strategies to offset remaining emissions. Bezo's goal is for 80% of Amazon's energy use to be renewable by 2024, up from the company's current rate of 40%, and by 2030 he hopes to run the company fully on renewables.</p><p class='black-text'>Part of the announcement also included Amazon agreeing to purchase 100,000 electric delivery vans from the vehicle manufacturer Rivian. Bezos plans to have the first electric delivery vans on the road by 2021, and have all purchased vehicles deployed by 2024.</p><p class='black-text'>"We want to use our scale and our scope to lead the way. One of the things we know about Amazon as a role model for this is that it's a difficult challenge for us because we have deep, large physical infrastructure. So, if we can do this, anyone can do this," Bezos stated to the news conference.</p><p class='black-text'>Thursday's announcement comes the day before thousands of Amazon employees pledged to walk off the job to protest the company's pollution and support of fossil fuel companies and climate deniers. Massive demonstrations around the world starting Friday are part of an organized protest call the <a href="https://globalclimatestrike.net/">Global Climate Strike</a>. This global strike is ahead of the United Nations summit on climate action that is taking place on September 23.</p><p class='black-text'>Bezos encourages other companies to join The Climate Pledge.</p> http://www.pws.io/amazon-plans-to-have-net-zero-carbon-emissions-by-2040 Thu, 19 Sep 2019 15:15:25 -0400 Rachel Hemple Market Update: Federal Reserve Cuts Interest Rates http://www.pws.io/market-update-federal-reserve-cuts-interest-rates <p class='black-text'>The Federal Reserve announced their <a href="https://www.federalreserve.gov/monetarypolicy/files/monetary20190918a1.pdf">new monetary policy</a> following a two-day meeting. The Federal Open Market Committee (FOMC) has decided to cut benchmark interest rates by a quarter-point, bringing the target range to between 1.75% and 2%.</p><p class='black-text'><b>Here's how the U.S. market indexes closed Wednesday: </b></p><p class='black-text'>Nasdaq Composite Index (QQQ): -0.11% or 8.62 points</p><p class='black-text'>Dow Jones Industrial Average (DIA): +0.13% or 36.28 points</p><p class='black-text'>S&P 500 Index (SPY): +0.034% or 1.03 points</p><p class='black-text'>Though the Fed's new monetary policy was in line with market expectations, the policy also included further statements and economic projections that seem to question whether there would be another rate cut any time soon. Following the policy, the Fed included the statement that "sustained expansion of economic activity, strong labor market conditions and inflation near the Committee's symmetric 2% objective are the most likely outcomes." This statement seems to indicate that this will be the final rate cut until December 11 when the Committee has its final meeting in 2019.</p><p class='black-text'>Federal Reserve Chairman Jerome Powell stated that the Federal funds rate was cut "in order to provide insurance against risks," such as the weakness in global economic growth, volatile oil prices, and future trade policies.</p><p class='black-text'>In other global news, Saudi Arabia's Defense Ministry stated that they have evidence that the government of Iran was behind the drone strike on the country's oil facilities. This challenges the news earlier this week that the attack was thought to originate from Yemen.</p><p class='black-text'>President Donald Trump stated that he did not wish to declare war on Iran. U.S. Secretary of State Mike Pompeo is meeting in Saudi Arabia. Trump on Wednesday called for more sanctions with Iran.</p><p class='black-text'>In other stock news, FedEx Corp. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FDX"><span style="color:#333">(</span><span style=";">FDX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FDX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FDX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FDX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was in the news today following its close to 13% stock price decrease after that company missed profit expectations and cut its outlook due to the increasing global trade tensions. The company also saw a loss of volume from Amazon that negatively impacted with quarter. FedEx is one of the more visible companies that has started to feel the effects of China lessening imports due to trade tensions.</p><p class='black-text'>Tomorrows update will follow more global trade news as oil prices and U.S. and China trade tensions continue to damage global economic growth.</p> http://www.pws.io/market-update-federal-reserve-cuts-interest-rates Wed, 18 Sep 2019 17:42:24 -0400 Rachel Hemple Sectors React to Volatile Oil Prices http://www.pws.io/sectors-react-to-volatile-oil-prices <p class='black-text'>It's been a volatile week for U.S. and global markets following the rapid changes in oil prices that were the result of the drone attacks to the Saudi Arabian oil production facility.</p><p class='black-text'>The S&P 500 (SPY) has been moving along with the oil price trends, due to the fact that oil prices affect many sectors and commodities in terms of stock prices. Many investors have been responding to the mixed news of whether or not the Saudi Abqaiq plant and Khurais oil field will be back to normal production within weeks or months. The country's Energy Minister stated that the company should be up to per attack levels by the end of September. Saudi oil production has lost 5.7 million barrels of oil a day because of the attack, which is 5% of the world's oil supply.</p><p class='black-text'>The Nasdaq Composite Index (QQQ) has also been responding to the volatile shifts in oil prices this week. Gasoline ETF has seen spikes after the oil attacks, as well as energy ETFs that are heavily affected by changes in prices. According to oil analyst Andy Lipow, U.S. gas prices will increase by about 20 cents per gallon in the next few days because of the reduced oil production by Saudi Arabia. This will likely push the national price-per-gallon average to above $2.70 over the coming days. This price increase will surely affect more stock prices within Nasdaq ETFs.</p><p class='black-text'>Consumer Discretionary Sector (XLY) has been down at the start of this week, mostly reflecting lower earnings results and the affect oil prices have across the market. Stocks such as General Motors <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GM"><span style="color:#333">(</span><span style=";">GM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have been affected recently by union strikes, reducing investor confidence in future profits due to daily loss of production. Other automotive stocks like Ford <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/F"><span style="color:#333">(</span><span style=";">F</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="F" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="F" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="F" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> will soon be affected by raising manufacturing costs that come with new union contracts.</p><p class='black-text'>Oil Futures on Monday marked the sharpest daily rise in more than a decade, which was such a shock that global markets are still attempting to stabilize and accurately respond. Brent crude, which is a global indicator, jumped to $8.80, or an increase of 14.6%. Its current trade price is just under $70 a barrel, which is the biggest dollar rise since June 6, 2008. As a result, Oil & Gas Explores (XOP) have been declining this week.</p> http://www.pws.io/sectors-react-to-volatile-oil-prices Wed, 18 Sep 2019 13:07:44 -0400 Rachel Hemple Market Update: Global Traders React to Increase of Oil Prices http://www.pws.io/market-update-global-traders-react-to-increase-of-oil-prices <p class='black-text'>The weekend's attacks on Saudi Arabian oil facilities have led to massive supply disruptions. Futures for Brent crude, which serves as the international benchmark for oil prices, have surged during trading Monday following the drone strikes that hit half of the kingdom's oil output. Oil prices have spiked up 10%. It is unclear how far reaching this attack will be longterm on global oil prices and trading.</p><p class='black-text'>Here's how the U.S. Market settled today:</p><p class='black-text'>S&P 500 Index (SPY): -0.31% or 9.43 points</p><p class='black-text'>Dow Jones Industrial Average (DIA): -0.52% or 142.70 points</p><p class='black-text'>NASDAQ Composite Index (QQQ): -0.28% or 23.17</p><p class='black-text'>The attack on Saudi Arabian oil facilities on Saturday have destroyed about 5% of the country's global crude oil output. The drone strike led President Donald Trump on Sunday to<a href="https://twitter.com/realDonaldTrump/status/1173354644636127232?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1173354644636127232&ref_url=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Ftrump-authorizes-oil-release-from-strategic-reserve-after-saudi-attack-221621258.html"> authorize </a>a release of crude oil from the U.S. Strategic Petroleum Reserve (SPR), which will offset the expected negative affect on the U.S.'s oil supply. The SPR is an emergency fuel storage of petroleum maintained underground by the United States Department of Energy and has the capacity to hold up to 727 million barrels, making it the largest emergency supply of oil in the world.</p><p class='black-text'>The attacks follow Saudi Arabia's oil company, Aramco, preparing to propose an initial public offering that would the largest publicly traded oil companies in the world. The measures taken against on the country's reserves puts the oil company in an odd place when it comes to global trading and investor trust.</p><p class='black-text'>In stock news, energy stocks have increased following the attack. Shares of Devon Energy <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DVN"><span style="color:#333">(</span><span style=";">DVN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DVN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DVN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DVN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Marathon Oil <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MRO"><span style="color:#333">(</span><span style=";">MRO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MRO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MRO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MRO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Exxon Mobil <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XOM"><span style="color:#333">(</span><span style=";">XOM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XOM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XOM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XOM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Chevron <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CVX"><span style="color:#333">(</span><span style=";">CVX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CVX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CVX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CVX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have all seen gains following the increase in oil prices.</p><p class='black-text'>General Motors <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GM"><span style="color:#333">(</span><span style=";">GM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was in the news today following the strike of over 48,000 United Auto Workers union members after their contract demands deadline was not met. It is unclear how long the strike will be in effect. The outcome of the settlement between the two will affect how the UAW will move forward with their extended contracts with Ford Motor Company <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/F"><span style="color:#333">(</span><span style=";">F</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="F" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="F" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="F" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Fiat Chrysler Automobiles <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FCAU"><span style="color:#333">(</span><span style=";">FCAU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FCAU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FCAU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FCAU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>Tomorrow's U.S. market summary will follow the ongoing developments around global oil prices as trading countries continue to react to the Saudi Arabia's loss of oil reserves.</p> http://www.pws.io/market-update-global-traders-react-to-increase-of-oil-prices Mon, 16 Sep 2019 14:23:16 -0400 Rachel Hemple IPO Update: "Unicorn" IPO Sees Lackluster First Week of Trading http://www.pws.io/ipo-update-unicorn-ipo-sees-lackluster-first-week-of-trading <p class='black-text'>Last week saw the introduction of the IPO "unicorn" SmileDirectClub, which is currently the top contender for having the worst first day of trading of the year. This week is set to see more anticipated IPOs with all listing company's offer amounts this week being within the hundreds of millions.</p><p class='black-text'><b>Upcoming this week:</b></p><p class='black-text'>APEX Technology Acquisition Corp. is set to publicly trade on September 17 with the symbol APXTU on the NASDAQ. The stock is priced at $10 a share with 27.5 million shares. The company's offer amount was $316,250,000.</p><p class='black-text'>IGM Biosciences is an upcoming stock set to trade under the symbol IGMS on the NASDAQ on September 18. The stock is set to be $15-$17 a share with 7,812,500 shares. The company's offer amount was $152,734,375.</p><p class='black-text'>Envista Holding Corp. is set to publicly trade on the NYSE with the symbol NVST. Shares are expected to be priced at $21-$24 with 26,768,000 shares currently. The company's offer amount was $738,769,800.</p><p class='black-text'>DataDog Inc. is set to trade on September 19 with a share price estimated to be $19-$22 per share. The company is expected to run under the symbol DDOG on the NASDAQ with 24 million shares currently. The company's offer amount was $607,200,000.</p><p class='black-text'>Ping Identity Holding Corporation is set to trade on September 19 under the symbol PING on NYSE. Shares are estimated to be priced at $14-$16 with 12.5 million currently. The company's offer amount was $230 million.</p><p class='black-text'><b>Newly Priced: </b></p><p class='black-text'>New Providence Acquisition Corp. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NPAUU"><span style="color:#333">(</span><span style=";">NPAUU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NPAUU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NPAUU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NPAUU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was priced on September 11 with a share price of $10 with 20 million posted shares and an offer amount of $200 million. The stock will run on the NASDAQ under the symbol NPAUU.</p><p class='black-text'>SmileDirectClub Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SDC"><span style="color:#333">(</span><span style=";">SDC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SDC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SDC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SDC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was priced on September 12 with a higher end share price of $23 with 58,537,000 million shares. With the stock symbol SDC, the company will be running on the NASDAQ and had an offer amount of $1.3 billion.</p><p class='black-text'>10X Genomics Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TXG"><span style="color:#333">(</span><span style=";">TXG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TXG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TXG" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TXG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was priced also on September 12 with 10 million shares priced at $39 per share. The company will be trading on the NASDAQ with the symbol TXG. Its filing offer was $390 million.</p><p class='black-text'>SpringWorks Therapeutics Inc.<nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SWTX"><span style="color:#333">(</span><span style=";">SWTX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SWTX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SWTX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SWTX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was priced on September 13 to trade on the NASDAQ with the symbol SWTX. The company has 9 million shares at $18 per share. The company's offer amount was $162 million.</p><p class='black-text'>Satsuma Pharmaceuticals <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/STSA"><span style="color:#333">(</span><span style=";">STSA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="STSA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="STSA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="STSA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was priced on September 13 to publicly trade on the NASDAQ under the symbol STSA at $15 a share with 5.5 million shares currently. The company's offer amount was $82.5 million.</p><p class='black-text'>Cloudflare Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NET"><span style="color:#333">(</span><span style=";">NET</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NET" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NET" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NET" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was approved and priced on September 13 to trade on the NYSE under the symbol NET at $15 per share with 35 million shares. The company's trading offer amount was $525 million.</p><p class='black-text'>Experience Investment Corp. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/EXPCU"><span style="color:#333">(</span><span style=";">EXPCU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="EXPCU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="EXPCU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="EXPCU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was priced on September 13 to trade on the NASDAQ with the symbol EXPCU at $10 dollars a share with 25 million shares currently. The company's offer amount was $250 million.</p><p class='black-text'>Alerus Financial Corp. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ALRS"><span style="color:#333">(</span><span style=";">ALRS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ALRS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ALRS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ALRS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was priced September 13 to trade on the NASDAQ under the symbol ALRS. Stock shares of the company are priced at $21with 2.86 million shares. The company's offer amount was $60,060,000.</p><p class='black-text'><b>Filed Recently:</b></p><p class='black-text'>Biotech Se had filed to trade under the proposed symbol BNTX on September 9 with an offer amount of $100 million.</p><p class='black-text'>Heartland Bancorp Inc. had filed to publicly trade on September 13 under the tentative symbol HBT with an offer of $100 million.</p><p class='black-text'>Global Internet of People Inc. filed with $23 million under the proposed symbol GIP on September 13.</p><p class='black-text'>Chinos Holdings Inc. has filed to publicly trade with an offer amount of $100 million on September 13 and has yet to announce a trading stock symbol.</p> http://www.pws.io/ipo-update-unicorn-ipo-sees-lackluster-first-week-of-trading Mon, 16 Sep 2019 11:55:38 -0400 Rachel Hemple Opinion: The Democratic Field Narrows to Six http://www.pws.io/opinion-the-democratic-field-narrows-to-six <p class='black-text'>Now is a critical time for the Democratic primary. After the September debate, the candidate field is coming to a crossroads. Ostensible front runner vice president Joe Biden is slipping in the polls and the hearts of voters. Biden's moderate platform that criticizes the cost of reforms might be appealing to some, but his old age, countless remembrance gaffes, and traditional views on racial and cultural issues are already turning many liberals away. Combined with a bad track record in presidential elections, Biden will likely fail to win any of the initial state primaries. So here are my top five candidates besides Biden who should be considered legitimate contenders.</p><p class='black-text'>Senator Bernie Sanders (I-VT) started his campaign strong with a record number of individual donations. Even though his throat became hoarse from intense speaking on the campaign trail, he retains his fiery passion to fight inequality and injustice. But Bernie keeps repeating much of the same during debates, and he refuses to directly attack the top competitors. Bernie will remain a strong choice, but until he convinces moderates to support his leftward platform, he will falter.</p><p class='black-text'>Senator Elizabeth Warren (D-MA) keeps steadily rising in the polls, thanks to a continuous release of new proposals and her sympathetic personality. Her biggest disadvantage is Bernie's existence, which crowds out her progressive support. But she comes across and more caring and relatable on many economic issues. Her rhetoric is less fierce than Bernie's, but she basically matches his leftward bona fides. She keeps doing well in debates and will go far in the primary season.</p><p class='black-text'>Philanthropist Andrew Yang is a tough person to analyze after the raffle stunt. On the one hand, he supports progressive ideas like universal healthcare and peaceful foreign policy. On the other, he likes school vouchers and a libertarian version of universal basic income. Drawing support from the right and the left can seriously hurt him in the Democratic primary. How he responds when attacked by a fellow candidate will be key. Yang remains the dark horse with an unlikely path.</p><p class='black-text'>Senator Kamala Harris (D-CA) has lost luster since the first debate when she slammed Biden. She straddles a tricky position between centrist and progressive and includes a controversial past as California's top cop. Though she has quality proposals in her middle class tax cut and universal healthcare plan, she prefers to spend time attacking Donald Trump instead of arguing policy merits. She is a top choice for voters who hate Trump and want a prosecutor to dethrone him.</p><p class='black-text'>Former Representative Beto O' Rourke is only a top contender due to his bold debate night gambit. While he was known for losing a close battleground election, a command of Spanish, and more libertarian views on trade and immigration, now he is the best choice for gun control advocates. The risky call to confiscate assault weapons nationwide makes him a popular but contentious figure. If the country's gun reform zeal is not enough, he will fall back to a minor underdog.</p><p class='black-text'>The rest of the candidates performed poorly or have sustained low poll numbers. They will likely fail to qualify for the next debate after October. It is unclear how the DNC will divide the next debate with the addition of billionaire Tom Steyer and perhaps Marianne Williamson and Tulsi Gabbard. Finally, candidates will be more pressured to prove how they will confront and defeat Trump. The balance between electability and policy is crucial.</p><p class='black-text'><i>The author is an independent voter sharing his own opinion.</i></p> http://www.pws.io/opinion-the-democratic-field-narrows-to-six Mon, 16 Sep 2019 10:25:42 -0400 Eric Yao Market Update: Trump Administration Considering New Trade Agreement to China http://www.pws.io/market-update-trump-administration-considering-new-trade-agreement-to-china <p class='black-text'>The U.S. Stock Market has stayed in the green today following a <a href="https://www.bloomberg.com/news/articles/2019-09-12/trump-advisers-considering-interim-china-deal-to-delay-tariffs?srnd=premium">Bloomberg report</a> that the Trump administration is considering offering a limited trade agreement to China that would delay and roll back some U.S. tariffs in exchange for Chinese commitments on intellectual property changes and agricultural purchases. This proposal would temporarily pause the trade war but does not offer a final resolution.</p><p class='black-text'>Here's how the market closed Thursday:</p><p class='black-text'>Dow Jones Industrial Average (DIA): +0.17% or 45.41 points</p><p class='black-text'>NASDAQ Composite Index (QQQ): +0.30% or 24.79 points</p><p class='black-text'>S&P 500 (SPY): +0.29% or 8.84 points</p><p class='black-text'>President Donald Trump said Wednesday that he would put off additional tariffs on Chinese goods by two weeks, making the new date October 15 from the original October 1. Trump <a href="https://twitter.com/realDonaldTrump/status/1171925717988388865">tweeted</a> that this is his "gesture of good will" to move the tariffs worth $250 billion to a later date.</p><p class='black-text'>Earlier this week, China's Ministry of Finance <a href="https://www.reuters.com/article/us-usa-trade-china/china-exempts-16-types-of-u-s-goods-from-additional-tariffs-idUSKCN1VW0IP">moved to exempt 16 types of U.S. products </a>from additional tariffs imposed on the imports. This exemption will take effect on Tuesday and remain in place for a year. This list covers a number of medicines and insecticides, but tariffs will still impact U.S agricultural exports.</p><p class='black-text'>In stock news, SmileDirectClub Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SDC"><span style="color:#333">(</span><span style=";">SDC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SDC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SDC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SDC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> did very poorly in its U.S. market debut. Shares are down 27.52% from its $23 offer price. SmileDirectClub is on track to have the worst market debut of the year of a company worth over $1 billion.</p><p class='black-text'>Kroger Co. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/KR"><span style="color:#333">(</span><span style=";">KR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="KR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="KR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="KR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> stock rose 0.20% today after reporting second-quarter earnings that beat expectations. Kroger has recently invested in digital sales and delivery services to compete with Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Walmart <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WMT"><span style="color:#333">(</span><span style=";">WMT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WMT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WMT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WMT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>Groupon Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GRPN"><span style="color:#333">(</span><span style=";">GRPN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GRPN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GRPN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GRPN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> announced that the company is looking into purchasing the online review company Yelp Inc <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/YELP"><span style="color:#333">(</span><span style=";">YELP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="YELP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="YELP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="YELP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. This news caused Yelp shares to increase 5.55%</p><p class='black-text'>Aurora Cannabis Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ACB"><span style="color:#333">(</span><span style=";">ACB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ACB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ACB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ACB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw shares drop 9.24% today after reporting low fourth quarter earnings. The company reports a revenue of $98.9 million when expectations were set to see the company earn $108.3 million.</p><p class='black-text'>Friday's report will follow more trade war news between China and the U.S. as well as market movements as more quarterly reports are issued.</p> http://www.pws.io/market-update-trump-administration-considering-new-trade-agreement-to-china Thu, 12 Sep 2019 14:26:22 -0400 Rachel Hemple Market Update: Hong Kong Proposes to Takeover London Stock Exchange http://www.pws.io/market-update-hong-kong-proposes-to-takeover-london-stock-exchange <p class='black-text'>In world market news, Hong Kong has made a surprise <a href="https://www.cnn.com/2019/09/11/investing/hong-kong-london-stock-exchange/index.html">$37 billion</a> takeover bid for the London Stock Exchange. If this occurs, this merger would create the world's third largest stock exchange group just behind the New York Stock Exchange and the NASDAQ in terms of overall value.</p><p class='black-text'>Here's how the U.S. markets settled after a day of trading:</p><p class='black-text'>Dow Jones Industrial Average (DIA): +0.84% or 226.87 points</p><p class='black-text'>NASDAQ Composite Index (QQQ): +1.06% or 85.52 points</p><p class='black-text'>S&P 500 Index (SPY): +0.72% or 21.50 points</p><p class='black-text'>In U.S. news, the Trump administration is preparing a <a href="https://www.cnbc.com/2019/09/11/trump-to-consider-e-cigarette-policy-amid-outbreak-of-lung-disease.html?__source=newsletter%7Cbreakingnews">ban on flavored e-cigarettes and vaping products </a>in response to an outbreak of lung issues that have been deadly in some cases. The Food and Drug Administration is moving forward with its guidance to remove all non-tobacco flavors of the products from the sales market within 30 days. This move has seen shares of Altria Group Inc <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MO"><span style="color:#333">(</span><span style=";">MO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, which owns a large stake in the e-cigarette company Juul, fall today but settle at +0.62%.</p><p class='black-text'>In other President Trump news, this morning, the President<a href="https://twitter.com/realDonaldTrump/status/1171735691769929728?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fwww.cnbc.com%2F2019%2F09%2F11%2Ftrump-says-fed-boneheads-should-cut-interest-rates-to-zero-or-less-us-should-refinance-debt.html"> tweeted </a>that "The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term. We have the great currency, power, and balance sheet...The USA should always be paying the the lowest rate."</p><p class='black-text'>Chief economist at Moody's Analytics Mark Zandi stated that this fight against inflation that Trump is calling for is "not viable and could be a significant problem for investors, financial markets, and ultimately the economy."</p><p class='black-text'>Trump has also affected oil prices today following the announcement of the U.S. discussing an easing of sanctions on Iran. Oil prices have fallen almost 3% following this move.</p><p class='black-text'>In stock news, Apple Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAPL"><span style="color:#333">(</span><span style=";">AAPL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAPL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAPL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAPL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has been outperforming all week, with the tech company being one of the best performers in the Dow Jones Industrial Average. This is following all the announcement of new products and services Tuesday.</p><p class='black-text'>Purdue Pharma report today that there are tentative <a href="https://www.cnbc.com/2019/09/11/purdue-pharma-reportedly-reaches-tentative-deal-to-settle-opioid-cases.html">deals to settle thousands of opioid cases</a>. The OxyContin maker plans to contest certain states opposed to settlement as early as next week. The company was charged with over 2,000 lawsuits surrounding the opioid crisis in the U.S. Purdue's legal trouble has affected other public companies such as Teva Pharmaceutical <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TEVA"><span style="color:#333">(</span><span style=";">TEVA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TEVA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TEVA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TEVA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Johnson & Johnson <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JNJ"><span style="color:#333">(</span><span style=";">JNJ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JNJ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JNJ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JNJ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Endo International <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ENDP"><span style="color:#333">(</span><span style=";">ENDP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ENDP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ENDP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ENDP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Mallinckrodt <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MNK"><span style="color:#333">(</span><span style=";">MNK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MNK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MNK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MNK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>GamesStop Corp. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GME"><span style="color:#333">(</span><span style=";">GME</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GME" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GME" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GME" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> revealed today that they will close between 180 to 200 underperforming stores globally by the end of its fiscal year. CEO George Sherman stated "optimizing our store base for an increasingly digital world is essential for the future and increasing the profit productivity," during the company's <a href="https://seekingalpha.com/article/4290845-gamestop-corp-gme-ceo-george-sherman-q2-2019-results-earnings-call-transcript">earnings call report</a>. Their stock price has fallen by more than 10% today.</p><p class='black-text'>Shares of the cyber security company Zscaler Inc <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ZS"><span style="color:#333">(</span><span style=";">ZS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ZS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ZS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ZS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have dropped almost 20% after the company's announcement that they are cutting their earnings outlook for the next fiscal year.</p><p class='black-text'>Costco <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/COST"><span style="color:#333">(</span><span style=";">COST</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="COST" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="COST" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="COST" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw shares fall 2% following a downgrade to perform from outperform from Oppenheimer. The firm raised its price target to $300 from $295.</p><p class='black-text'>Thursday's update will see more responses to President Trump's charge toward the Federal Reserve to combat inflation of the U.S. economy and well as the potential bankruptcy and lawsuit news of the companies discussed above.</p> http://www.pws.io/market-update-hong-kong-proposes-to-takeover-london-stock-exchange Wed, 11 Sep 2019 14:08:21 -0400 Rachel Hemple Mid-Week Update: Most Sectors are Turning Green http://www.pws.io/mid-week-etf-update <p class='black-text'>The S&P 500 (SPY) has been in the green for most of this week, with Wednesday's share return being set at +0.52%</p><p class='black-text'><b>Sector ETFs</b></p><p class='black-text'>The Energy Sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLE"><span style="color:#333">(</span><span style=";">XLE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has recently seen a 5-Day return of +4.86%. Stocks within this holding have been affected this week by the news of Saudi Arabia's new energy minister maintaining the country's limiting on crude exports to support revenue.</p><p class='black-text'>The Financial Sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLF"><span style="color:#333">(</span><span style=";">XLF</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLF" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLF" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLF" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is seeing a 5-Day return of +4.17%. Bank ETFs have seen underperformance so far this year, but since banks borrow money at short-term rates and lend capital long-term, the movement of the 10-year U.S. Treasury yield has been benefiting this sector.</p><p class='black-text'>The Utilities Sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLU"><span style="color:#333">(</span><span style=";">XLU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has a 5-Day negative return of -1.07%. The Technology Sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLK"><span style="color:#333">(</span><span style=";">XLK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw a 5-Day return of +1.63% with strengthening tech stocks being the driving force for investments. The Health Care Select Sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLV"><span style="color:#333">(</span><span style=";">XLV</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLV" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLV" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLV" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has seen a 5-Day return of +1.54%</p><p class='black-text'>The Industrial Sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLI"><span style="color:#333">(</span><span style=";">XLI</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLI" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLI" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLI" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has been seeing positive returns, with its 5-Day being set at +3.61%. This sector has the potential to be negatively affected in the coming months due to China and U.S. trade tariffs having a greater effect on this sector than compared to others. This sector is heavily reliant on industry and consumer services, so the coming weeks will tell how well this ETF will do for the year.</p><p class='black-text'>The Consumers Staples Select Sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLP"><span style="color:#333">(</span><span style=";">XLP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is seeing a negative 5-Day return of -0.97%, with the ETF being affected by many consumer stocks remaining in the red this week. On the opposite, the Consumer Discretionary Select Sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLY"><span style="color:#333">(</span><span style=";">XLY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has seen a 5-Day return of +2.45%.</p><p class='black-text'><b>Commodity ETFs</b></p><p class='black-text'>Gold <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has seen a 5-Day return of -3.84%; gold has been fluctuating on the market recently with greater investor concern being focused on the global market and "safer" investments. The United States Oil Fund <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has seen prices heavily affected by the state of global trade and has seen a 5-Day return of -0.64%.</p><p class='black-text'><b>Currency ETFs</b></p><p class='black-text'>The U.S. Dollar Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has seen small growth this week, with its 5-Day return at +0.28%</p> http://www.pws.io/mid-week-etf-update Wed, 11 Sep 2019 12:08:57 -0400 Rachel Hemple Apple Introduces New Products http://www.pws.io/apple-introduces-new-products <p class='black-text'>On Tuesday afternoon Apple <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAPL"><span style="color:#333">(</span><span style=";">AAPL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAPL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAPL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAPL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> unveiled its new line of products at the <a href="https://www.apple.com/apple-events/september-2019/">Apple Special Event</a>, its annual autumn product event at the Steve Jobs Theater in Cupertino, California. The tech giant also divulged some details about upcoming products and services.</p><p class='black-text'>The <a href="https://www.cnbc.com/2019/09/10/apple-hardware-event-new-iphones-apple-watches-and-more.html">main event </a>for Apple investors and customers was the introduction of the new flagship smartphones. Three new phones debuted: the iPhone 11 Pro, iPhone 11 Pro Max, and iPhone 11 as the successors to the iPhone XR and XS. The iPhone 11 Pro and 11 Pro Max boast 5.8-inch and 6.5-inch OLED displays and are offered in green, space gray, silver, and gold colors with a new matte finish on the back panel. The phones also feature an all new triple-lens camera system with a telephoto camera, wide angle camera that allows 40% more light, and ultra-wide camera with a 120 degree field of view. The cameras can also shoot 4K resolution video at 30 frames per second. Finally, the new phones all boast new A13 processing chips and longer battery life. The new phones will be sold starting at $399, $599, and $699, depending on memory capacity, trade-ins, and special carrier financing or offers.</p><p class='black-text'>Apple also unveiled its new services Apple TV+ and Apple Arcade. The streaming service is slated to debut on November 1 and will only cost $4.99 for a family account. Apple TV+ will be available in 100 countries and feature new shows each month. It will offer original programming, and customers can enjoy a free year subscription after buying a new iPhone, iPad, Mac, or Apple TV. Apple Arcade is a gaming subscription service offering 100 new games with more added monthly, also $4.99 for a family account. The company also introduced the Apple Watch Series 5, which features an always-on display and battery life of 18 hours, starting at $399. Apple also unveiled the new 10.2-inch iPad to replace the 9.7-inch model. The new tablet boasts a A10 Fusion chip, Retina display, and 8 megapixel camera, starting at $329.</p><p class='black-text'>Finally, Apple announced it will reopen its flagship Fifth Avenue store in New York on September 20, the date of its new iPhone launch. Overall, <a href="https://www.cnbc.com/2019/09/10/iphone-11-top-feature-price.html">Apple's event</a> seems to be a boon for long-term investors and diehard customers alike. Apple needs new customers to join its branded ecosystem, so its move to cut the price of the cheapest iPhone model is a smart move. By offering an option geared toward discount shoppers, Apple is hoping to make up the revenue through services subscriptions. Compared to Netflix <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NFLX"><span style="color:#333">(</span><span style=";">NFLX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NFLX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NFLX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NFLX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Google <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GOOGL"><span style="color:#333">(</span><span style=";">GOOGL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GOOGL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GOOGL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GOOGL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> Stadia, Apple's prices for Apple TV+ and Apple Arcade make them more valuable, meaning the services can potentially attract more subscribers. Apple is in the middle of its transition from a hardware to a services firm, and the price competition is a good way for the behemoth to keep growing.</p><p class='black-text'><i>The author holds a small long position in AAPL.</i></p> http://www.pws.io/apple-introduces-new-products Wed, 11 Sep 2019 10:33:59 -0400 Eric Yao Market Update: Dow Jones Industrial Average Turn Positive http://www.pws.io/market-update-dow-jones-industrial-average-turn-positive <p class='black-text'>Apple's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/APPL"><span style="color:#333">(</span><span style=";">APPL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="APPL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="APPL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="APPL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> event today took center-stage in trading news, with the company unveiling a new smartphones as well as new services and streaming platform prices.</p><p class='black-text'>Here's how the market closed Tuesday:</p><p class='black-text'>Dow Jones Industrial Average (DIA): +0.28% or 73.92 points</p><p class='black-text'>Nasdaq Index (QQQ): -0.04% or 3.28 points</p><p class='black-text'>S&P 500 Index (SPY): +0.03% or 0.96 points</p><p class='black-text'>Following the unveiling of Apple TV+'s pricing, Apple's streaming platform led to the losses in other services like Netflix <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NFLX"><span style="color:#333">(</span><span style=";">NFLX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NFLX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NFLX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NFLX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Disney <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIS"><span style="color:#333">(</span><span style=";">DIS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and the streaming company Roku <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ROKU"><span style="color:#333">(</span><span style=";">ROKU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ROKU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ROKU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ROKU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, with Roku taking the largest fall of 10.49%. Apple TV+ 's monthly service pricing is $4.99 a month for families, which is half of what the expected pricing and lower than other services provided by Netflix and Disney.</p><p class='black-text'>The Dow Jones Industrial Average turned positive today following a South China Morning Post <a href="https://www.scmp.com/news/china/diplomacy/article/3026585/countdown-trade-war-talks-china-ready-sweeten-deal-buying">report</a> that China is considering a deal to purchase more American agricultural goods ahead of the next round of scheduled trade meetings between U.S. and China.</p><p class='black-text'>In further stock news, the fast-food chain Wendy's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WEN"><span style="color:#333">(</span><span style=";">WEN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WEN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WEN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WEN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw market shares take a dive of 10.21% following a downgrade to neutral from buy from Guggenhiem. The firm sees the company's move towards investing in breakfast food and sales as a risky move.</p><p class='black-text'>Maxar Technologies Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MAXR"><span style="color:#333">(</span><span style=";">MAXR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MAXR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MAXR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MAXR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw shares jump 19.2% after J.P. Morgan gave the company a price target of $12 a share for the end of 2020. J.P. Morgan called the company a high-risk/high reward investment.</p><p class='black-text'>Ford Motor Company <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/F"><span style="color:#333">(</span><span style=";">F</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="F" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="F" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="F" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares dropped 1.36% today after the credit agency Moody's decision to downgrade the auto maker's credit rating to junk from the grade of investment. The company is projected to have weaker earnings in its fiscal year.</p><p class='black-text'>Starbucks <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SBUX"><span style="color:#333">(</span><span style=";">SBUX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SBUX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SBUX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SBUX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares fell 4.05% today following the U.S. Securities and Exchange Commission questioning the coffee chain about revenue-recognition policy. The company has agreed to provide additional disclosures on how it recognizes revenues after the SEC questions its accounting practices.</p><p class='black-text'>Tomorrow's market update will follow more stock movement as the stock market seems to be recovering more from volatile August.</p> http://www.pws.io/market-update-dow-jones-industrial-average-turn-positive Tue, 10 Sep 2019 16:50:51 -0400 Rachel Hemple Market Summary: Oil Prices Rise After Saudi Arabia Names New Energy Minister http://www.pws.io/market-summary-oil-prices-rise-after-saudi-arabia-names-new-energy-minister <p class='black-text'>Following lack of major U.S. economic data or earnings reports being released early in the week, much of market focus has been toward overseas data and the global economy. The U.K. economy expanded by 0.3% between June and July, which helped ease recession fears that have been cropping up across global markets. Despite Germany's economy declining, they have reported stronger than expected export data in July, a rise of 0.7% from the expected 0.5%. However, Brexit fears continue to threaten exports which could hurt Germany's economy further.</p><p class='black-text'><b>Here's how the U.S. Stock Market settled today: </b></p><p class='black-text'>Dow Jones Industrial Average (DIA): +0.15% or 38.86 points</p><p class='black-text'>S&P 500 Index (SPY): -0.01% or 0.25 point</p><p class='black-text'>Nasdaq (QQQ): -0.19% or 15.64 points</p><p class='black-text'>The U.S. Federal Reserve is expected to cut benchmark interest rates as officials have entered the pre-meeting blackout period where no public issues are released.</p><p class='black-text'>In energy news, Exxon Mobil <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XOM"><span style="color:#333">(</span><span style=";">XOM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XOM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XOM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XOM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Chevron <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CVX"><span style="color:#333">(</span><span style=";">CVX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CVX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CVX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CVX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Noble Energy <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NBL"><span style="color:#333">(</span><span style=";">NBL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NBL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NBL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NBL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Helmerich & Payne <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HP"><span style="color:#333">(</span><span style=";">HP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="HP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw stock rise as oil prices increased. Saudi Arabia's Prince Abdulaziz has been named the country's new energy minister and is continuing the country's policy of limiting crude output to support prices. The news has affected oil prices, causing them to rise about 3%.</p><p class='black-text'>In stock news, the telecommunicator AT&T <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/T"><span style="color:#333">(</span><span style=";">T</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="T" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="T" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="T" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw shares raise 1.5% after noted Wall Street Activist Elliott Management disclosed a $3.2 billion stake in the company. The hedge fund sent the company ways that it believes the company can improve its business and increase in value. Many investors think this will lead to the telecom raising more in value.</p><p class='black-text'>Major bank stocks, Bank of America <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BAC"><span style="color:#333">(</span><span style=";">BAC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BAC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BAC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BAC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Citigroup <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/C"><span style="color:#333">(</span><span style=";">C</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="C" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="C" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="C" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and J.P. Morgan Chase <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JPM"><span style="color:#333">(</span><span style=";">JPM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JPM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JPM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JPM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, saw an increase in price today as Treasury yields rose after China reportedly offered to increase U.S. agricultural product purchases in exchange for easing sanctions on the Chinese telecom Huawei.</p><p class='black-text'>Acadia Pharmaceuticals <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ACAD"><span style="color:#333">(</span><span style=";">ACAD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ACAD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ACAD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ACAD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> stock saw a huge increase of about 64% following the company's announcement that its dementia-related psychosis treatment, named pimavanserin, had stopped trails early for efficacy, meaning that the drug has tested with far greater than expected results.</p><p class='black-text'>Chipotle <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CMG"><span style="color:#333">(</span><span style=";">CMG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CMG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CMG" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CMG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw shares gain of 0.47% following an upgrade to outperform from neutral by Wedbush. Analysts from the firm estimated is 12-month target price to increase to $980 from $780.</p><p class='black-text'>Tomorrow will see more global economies influences on U.S trade, for no major reports are slated to be released until OPEC'S monthly oil market report on Wednesday.</p> http://www.pws.io/market-summary-oil-prices-rise-after-saudi-arabia-names-new-energy-minister Mon, 09 Sep 2019 14:08:10 -0400 Rachel Hemple Blockchain & Crypto Week of September 8 in Review http://www.pws.io/blockchain-crypto-week-of-september-8-in-review <p class='black-text'>The first week of September has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that <a href="https://www.coindesk.com/binance-launches-dollar-backed-stablecoin-with-nydfs-blessing">Binance </a>announced the launch of a dollar-backed stablecoin in the US. The new Binance USD (BUSD) received the blessing of the New York Department of Financial Services (NYDFS). Binance says the stablecoin will be backed by US dollars in a 1 to 1 ratio, and its reserves will be held by the Paxos Trust Company. The offering joins the Paxos Standard (PAX) and the Gemini Dollar as another NYDFS-approved stablecoin. Binance users will be able to trade BUSD for Bitcoin (BTC), Binance Coin (BNB), and Ripple (XRP). Binance chief executive Changpeng Zhao said the exchange hopes the issuance of BUSD will unlock more financial services for the blockchain and digital assets ecosystems.</p><p class='black-text'><b>Here is the rest of the week in review:</b></p><p class='black-text'><a href="https://www.coindesk.com/messaging-giant-line-wins-japan-license-for-crypto-exchange-business">LINE</a>, provider of Japan's most popular messaging app Line, received approval for a cryptocurrency business license in the country on Friday. Gaining the approval means the firm will be able to offer its crypto exchange services in Japan, where it has 80 million monthly active users. Japan's Financial Services Agency awarded LINE the license and showed on its website that the registration was completed on September 6 by LVC Corp., which oversees LINE's digital asset and blockchain segments. LINE President Takeshi Dezawa also disclosed the completed FSA registration to the Tokyo Stock Exchange. LINE's cryptocurrency exchange will offer two tokens, LINE Point for Japan and LINK for other countries, to connect users and service providers. The communications firm said its goal is to build a token economy around its blockchain LINK Chain.</p><p class='black-text'><a href="https://www.coindesk.com/telegram-finally-releases-code-for-its-1-7-billion-ton-blockchain">Telegram's </a>controversial blockchain project, TON, entered the last preparation stage before finally going live. Telegram released the code for running a blockchain node on the test network portal on Friday. That means developers and community members interested in the messaging app firm's blockchain can start working with a full node, a validator node, and the blockchain explorer. According to TON Labs CTO Mitja Goroshevsky, who is working on tools for developers, there are currently 100 nodes on the testnet that Telegram maintains. The TON blockchain is designed as a proof-of-stake protocol with the support of multiple "shardchains." Validators, chosen from the users who stake large amounts of tokens, will confirm the blocks. TON Labs says the TON blockchain will be compatible with software based on Ethereum (ETH).</p><p class='black-text'>Crypto prices rebounded slightly to $267 billion this week. For the majors, all ten were green, with EOS, Monero (XMR), and Bitcoin Cash (BCH) posting the largest gains. In the top 100, the biggest losers were Energi (NRG), down 25%, Ren (REN), down 18%, and WINk (WIN), down 17%. The biggest gainers were XMAX (XMX), up a whopping 95%, Augur (REP), up 36%, and Cosmos (ATOM), up 23%. Next week traders will see if crypto can notch a second green week.</p><p class='black-text'><i>The author owns a small amount of BTC.</i></p> http://www.pws.io/blockchain-crypto-week-of-september-8-in-review Mon, 09 Sep 2019 11:47:30 -0400 Eric Yao Market Update: The U.S. Central Bank is Not Forecasting a Recession http://www.pws.io/market-update-the-us-central-bank-is-not-forecasting-a-recession <p class='black-text'>Friday morning the Federal Reserve released the <a href="https://www.bls.gov/news.release/empsit.nr0.htm">Employment Situation Summary</a> by the United States Department of Labor. According to the report, the U.S economy had created about 130,000 new jobs in August, which is the smallest increase in three months and eludes to the slowing hiring by employers amid the U.S. and China trade war and its effect on global economies. The U.S. unemployment rate has remained at 3.7%. Notable job gains have occurred in health care and financial activities, while jobs in mining have been lost.</p><p class='black-text'><b>Here's how the market settled after trading today: </b></p><p class='black-text'>Dow Jones Index (DIA): +2.06% or 69.31 points</p><p class='black-text'>S&P 500 (SPY): +0.091% or 2.17 points</p><p class='black-text'>NASDAQ (QQQ): -0.17% or 13.75 points</p><p class='black-text'>Economists believe that this report will lead the Federal Reserve to cut interest rates, but many suggest that the actual job creation will be higher due to the number of employers who do not file the job survey in August because many are on vacation.</p><p class='black-text'>Federal Reserve Chairman Jerome Powell spoke Friday afternoon in Zurich, Switzerland on the economic outlook and monetary policy of the United States. Powell stated that the outlook for the economy remains favorable and that the central bank is "not forecasting or expecting a recession."</p><p class='black-text'>In stock news, Facebook <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw a decline of 1.8% after the New York attorney general Letitia Jones announced that they are launching a joint investigation into possible antitrust violations by the social media company. Joining Jones are attorneys general of Colorado, Florida, Iowa, Nebraska, North Carolina, Ohio, Tennessee, and Washington D.C.</p><p class='black-text'>The retail company Costco <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/COST"><span style="color:#333">(</span><span style=";">COST</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="COST" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="COST" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="COST" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, saw a 2.3% raise in shares today following report of same-store sales increased by 5.5%. In the same vein, Lululemon Athletica <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LULU"><span style="color:#333">(</span><span style=";">LULU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LULU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LULU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="LULU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw shares climb 7.82% after reporting better than expected quarterly earnings.</p><p class='black-text'>GrubHub Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GRUB"><span style="color:#333">(</span><span style=";">GRUB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GRUB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GRUB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GRUB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> announced Friday that the company will be entering into a partnership with McDonald's in the New York City area, which saw the companies shares climb 0.13%.</p><p class='black-text'>Kellogg <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/K"><span style="color:#333">(</span><span style=";">K</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="K" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="K" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="K" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also saw upward movement of 2% today following the report that Goldman Sachs has upgraded the company to buy from neutral. This essentially means that the stock is expected to perform in line with the expected returns of the market. This makes the stock more predictable, or a "safe" investment.</p><p class='black-text'>Monday's update will see the further movement of the U.S Stock Market as the fears of recession are being lifted and global economies and trade have better investing outlooks.</p> http://www.pws.io/market-update-the-us-central-bank-is-not-forecasting-a-recession Fri, 06 Sep 2019 14:36:20 -0400 Rachel Hemple Market Update: Facebook Announces a Dating Feature http://www.pws.io/market-update-facebook-announces-a-dating-feature <p class='black-text'>Here is how the U.S Stock Market ended today:</p><p class='black-text'>S&P 500 (SPY): +1.30%, or 38.22 points</p><p class='black-text'>Dow Jones Index (DIA):+1.41%, or 372.68 points</p><p class='black-text'>Nasdaq (QQQ):+1.75%, or 139.95 points</p><p class='black-text'>In global market news, the U.S. and China have agreed to meet early next month for another round of trade negotiations in Washington D.C. Though this seems to be a positive step forward in trade negotiations, if a different agreement is not met the next batch of trade tariffs will take effect on December 15 of this year.</p><p class='black-text'>Following the news of more positive trade negotiations, stocks in gold have been in decline by 2.06% which brings the price to $1,528.20 per ounce.</p><p class='black-text'>In stock news, General Motors <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GM"><span style="color:#333">(</span><span style=";">GM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw shares raise 1.18% today following CEO and Chairman Mary Barra meeting with President Trump at the White House today. This follows the Twitter attacks Trump had made towards the company's use of foreign workers in China.</p><p class='black-text'>Slack <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WORK"><span style="color:#333">(</span><span style=";">WORK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WORK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WORK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WORK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, an online messaging application, saw negative growth of 3.44% after posting its first earnings report after the stock market closed Wednesday. Investors seem to be concerned about the potential growth of Slack when it is in competition with big companies like Microsoft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MSFT"><span style="color:#333">(</span><span style=";">MSFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MSFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MSFT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MSFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>The pharmaceutical company Mallinckrodt's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MNK"><span style="color:#333">(</span><span style=";">MNK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MNK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MNK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MNK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> stock took a plunge of 38.46% following reports of the company facing multiple opioid lawsuits and might file for bankruptcy. CVS Health Corp. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CVS"><span style="color:#333">(</span><span style=";">CVS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CVS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CVS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CVS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw shares raise 1.79% following a federal judge's approval to allow the company to merge with the private health insurer Aetna on Wednesday.</p><p class='black-text'>Facebook <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares have risen 1.9% following the launch of its new dating feature. In response, shares of Match <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MTCH"><span style="color:#333">(</span><span style=";">MTCH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MTCH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MTCH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MTCH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, which is the parent company for online dating applications such as Tinder, Match.com, Hinge, and OkCupid, saw shares fall 4.66%. It is unclear how successful Facebook's dating feature will compare to others offered, but, like many applications, you have to link your Facebook in order to use those dating services; Facebook wants to create a direct line that keeps users on the site.</p><p class='black-text'>The retailer Nordstrom <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JWN"><span style="color:#333">(</span><span style=";">JWN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JWN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JWN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JWN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw a raise of 5.59% following the greater investor confidence surrounding the U.S. and China trade war. Department stores like Nordstrom, Walmart <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WMT"><span style="color:#333">(</span><span style=";">WMT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WMT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WMT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WMT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Macy's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/M"><span style="color:#333">(</span><span style=";">M</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="M" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="M" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="M" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Target <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TGT"><span style="color:#333">(</span><span style=";">TGT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TGT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TGT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TGT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> are at greater threat from the trade tariff because of the massive amounts of textiles and clothing that are imported from China.</p><p class='black-text'>In energy news, Oil prices have begun to rise following the third straight week of U.S crude supplies declining. Currently, Crude oil on the U.S. stock market is up 0.59% which prices to $56.59 per barrel. General Electric <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GE"><span style="color:#333">(</span><span style=";">GE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> saw stock raise 0.11% today.</p><p class='black-text'>Tomorrow's update will see how the U.S stock market moves with the growing positive outlook surrounding the trade war.</p> http://www.pws.io/market-update-facebook-announces-a-dating-feature Thu, 05 Sep 2019 14:30:20 -0400 Rachel Hemple IPO Update: BELLUS Health Announces Opening on the NASDAQ http://www.pws.io/bellus-health-announces-opening-on-the-nasdaq <p class='black-text'><b>Recently Priced</b> Today saw the introduction of BELLUS Health <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BLU"><span style="color:#333">(</span><span style=";">BLU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BLU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BLU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BLU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> that is priced at $7.10 a share with 9,859,155 shares. BELLUS Health is a healthcare and wellness company that is focused on the development of drugs for rare diseases.</p><p class='black-text'><b>To Be Priced Next Week </b></p><p class='black-text'>10x Genomics, with the proposed symbol of TXG, filed to exchange on the NASDAQ and is expecting to be in the $31.00-$35.00 price range per share. They have raised 9 million shares.</p><p class='black-text'>Alerus Financial, who's proposed symbol is ALRS, is waiting approval to exchange on the NASDAQ with shares in the price range $22.00-$24.00 and have raised 3,250,000 shares.</p><p class='black-text'>Cloudflare, with the desired symbol NET, proposed to exchange on the NYSE with a price range of $10.00-$12.00 per share with 35 million already raised.</p><p class='black-text'>Satsuma Pharmaceuticals, wanting to run under the symbol STSA, is going to run exchange on the NASDAQ with shares pricing $14.00-$16.00 with 5 million shares raised.</p><p class='black-text'>SmileDirectClub, this week's hottest IPO, filed to be public under the symbol SDC on the NASDAQ with over 58 million shares raised in the price range of $19.00-$22.00.</p><p class='black-text'>Finally, SpringWorks Therapeutics, with the symbol SWTX, is waiting approval to exchange on the NASDAQ in the price range of $16.00-$18.00 with 7,352,941 shares.</p> http://www.pws.io/bellus-health-announces-opening-on-the-nasdaq Thu, 05 Sep 2019 11:47:48 -0400 Rachel Hemple How the U.S. Stock Market is Fairing as Trade Tariffs Begin http://www.pws.io/how-the-us-stock-market-is-fairing-as-trade-tariffs-begin <p class='black-text'>Here's how the U.S. stock market ended today:</p><p class='black-text'>Dow Jones Industrial Average: -1.08%, or 285.26 points</p><p class='black-text'>NASDAQ: -1.11%, or 88.72 points</p><p class='black-text'>S&P 500: -0.69%, or 20.19 points</p><p class='black-text'>The U.S. Stock Market's open today saw stocks plummet amidst the start of the <a href="https://ustr.gov/sites/default/files/enforcement/301Investigations/List_4A_%28Effective_September_1%2C_2019%29.pdf">U.S. and China duel tariffs on imports</a> that officially came into effect on September 1. This first round of tariffs total more than $100 billion and, by the year's end, nearly every good imported from China will be taxed by the U.S government. This targets many consumer products like food, apparel, footwear and electronics. The full effect of the tariff is not known yet, but many companies will be affected.</p><p class='black-text'>In furtherment of the trade war, President Trump<a href="https://twitter.com/realDonaldTrump/status/1168874291376656384"> tweeted</a>: "we are doing very well in our negotiations with China. While I am sure they would love to be dealing with a new administration so they could continue their practice of "ripoff USA" ($600 B/year), 16 months PLUS is a long time to be hemorrhaging jobs and companies on a long-shot...And then, think what happens to China when I win. Deal would get MUCH TOGETHER! In the meantime, China's Supply Chain will crumble and businesses, jobs and money will be gone!"</p><p class='black-text'>While the trade war continues to percolate, Capital Economics weighed in that "the trade dispute with China may be escalating at a rapid pace but, despite the concerns of Fed officials, there is still little evidence that this is having a significant impact on the economy." It seems to be the consensus that the trade war cannot be analyzed until the full scope of the tariffs are launched come December.</p><p class='black-text'>In Brexit news, the pound has fallen to a 34-year low against the dollar following the geopolitical fear surrounding the looming Brexit. Prime Minister Boris Johnson threatened to call another general election if lawmakers attempt to block the potential "no-deal" Brexit.</p><p class='black-text'>In other news, gold futures rallied back to their highest level in more than six years, with stock increasing 1.69% to $1,555.30 per ounce. It seems that amidst global economic uncertainties many investors have chosen to invest in something more stable.</p><p class='black-text'>In stock news, Boeing Co. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BA"><span style="color:#333">(</span><span style=";">BA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is down 3.2% following news of the 737 Max having delays that will make the plane out of service for the holiday season. Goldman Sachs <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GS"><span style="color:#333">(</span><span style=";">GS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> dropped 2.4% as news of bank's global co-head of securities announced his departure. Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares rose 0.76% as <a href="https://www.cnbc.com/2019/09/03/rbc-amazon-shares-to-rally-nearly-50percent-with-one-day-prime-shipping.html">RBC Capital Markets</a> raised its target price to $2,600 a share, from $2,250. This follows the success of Prime's "One-Day Shipping." Conn's Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CONN"><span style="color:#333">(</span><span style=";">CONN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CONN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CONN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CONN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, home appliance and furniture retailer, saw stock raise 18.3% after reporting strong second-quarter earnings. Boston Beer Company's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SAM"><span style="color:#333">(</span><span style=";">SAM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SAM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SAM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SAM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> stock fell 6.2% after analysts at Jefferies projected that the company will under-perform in competition with other alcoholic seltzers.</p><p class='black-text'>Hurricane Dorian is set to meet the U.S.'s eastern coastline this week with many investors expecting the storm to boost stock in home improvement retailers like Lowe's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LOW"><span style="color:#333">(</span><span style=";">LOW</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LOW" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LOW" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="LOW" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Home Depot <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HD"><span style="color:#333">(</span><span style=";">HD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="HD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> as well as auto part retailers like Advanced Auto Parts <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAP"><span style="color:#333">(</span><span style=";">AAP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and AutoZone <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AZO"><span style="color:#333">(</span><span style=";">AZO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AZO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AZO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AZO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. The Hurricane has already impacted shares of Royal Caribbean <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RCL"><span style="color:#333">(</span><span style=";">RCL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RCL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RCL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="RCL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, dipping 1.4 %, Norwegian Cruise Line <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NCLH"><span style="color:#333">(</span><span style=";">NCLH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NCLH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NCLH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NCLH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, falling 0.3%, and Carnival Corp. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CCL"><span style="color:#333">(</span><span style=";">CCL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CCL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CCL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CCL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, declining 0.9% respectively due to cruise cancellations.</p><p class='black-text'>Tomorrow's update will see how investors continue to respond to the ongoing trade war as the U.S stock market begins September.</p> http://www.pws.io/how-the-us-stock-market-is-fairing-as-trade-tariffs-begin Tue, 03 Sep 2019 15:17:02 -0400 Rachel Hemple U.S. Stock Market Sees the End of a Turbulent August http://www.pws.io/us-stock-market-sees-the-end-of-a-turbulent-august <p class='black-text'>Here's how the U.S. stock market closed today:</p><p class='black-text'>S&P 500 (^GSPC): +0.06%, or 1.88 points</p><p class='black-text'>Dow (^DJI): +0.16%, or 41.03 points</p><p class='black-text'>Nasdaq (^IXIC) -0.13%, or 10.51 points</p><p class='black-text'>As August trading comes to a close, the real outcomes of the trade war between China and the U.S. will manifest on Sunday. That is when the U.S.'s 15% tariffs will take effect on select Chinese goods. Even though some of the impact on consumer items will be delayed, many apparel and household goods will be subject to the trade war.</p><p class='black-text'>In stock news, retailer Ulta Beauty's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ULTA"><span style="color:#333">(</span><span style=";">ULTA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ULTA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ULTA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ULTA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares dropped 29.55% due to less than expected same-stores sales growth during its second quarter.</p><p class='black-text'>Ulta's Chief Executive Officer Mary Dillon stated that "looking forward, we (Ulta) have updated our fiscal 2019 outlook to reflect the headwind we are currently seeing in the U.S. cosmetics market. We remain confident that our guest-centric, differentiated business model will drive continued market share gains and strong returns for our shareholders."</p><p class='black-text'>Other beauty retailers like Estee Lauder <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/EL"><span style="color:#333">(</span><span style=";">EL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="EL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="EL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="EL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Revlon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/REV"><span style="color:#333">(</span><span style=";">REV</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="REV" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="REV" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="REV" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have also had similar stock declines, reflecting less customer enthusiasm in the make-up markets.</p><p class='black-text'>Outside of beauty, Campbell Soup's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CPB"><span style="color:#333">(</span><span style=";">CPB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CPB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CPB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CPB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> market shares went up 5% following a strong earnings announcement today. Tesla <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TSLA"><span style="color:#333">(</span><span style=";">TSLA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TSLA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TSLA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TSLA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also saw gains of almost 2% after China announced that automakers vehicles will be exempt for 10% Chinese auto purchase tax.</p><p class='black-text'>Tuesday's market update will follow up on more announced earnings reports and see the initial outcome of the first batch of tariffs of the nearly year-long trade war. The U.S. stock market will be closed on Monday for a national holiday.</p> http://www.pws.io/us-stock-market-sees-the-end-of-a-turbulent-august Fri, 30 Aug 2019 15:46:45 -0400 Rachel Hemple U.S. and China in Continued Tariff Dispute http://www.pws.io/us-and-china-in-continued-tariff-dispute <p class='black-text'>The main market moves as the Stock Market comes to a close today are:</p><p class='black-text'>S&P 500: -2.35%, or 68.79 points</p><p class='black-text'>Dow Jones: -2.2%, or 577.87 points</p><p class='black-text'>Nasdaq: -2.73%, or 215.19 points</p><p class='black-text'>10-year Treasury yield: -8 bps to 1.53%</p><p class='black-text'>The Stock Market saw new lows today following the turbid waters of consumer confidence. President Donald Trump <a href="https://twitter.com/realDonaldTrump/status/1164914963766546435">tweeted</a>, "Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA." This comes in response to China's announcement that the Chinese government will be imposing tariffs on multiple U.S. goods in reaction to the Trump administration's levies set to take effect September 1. Trump went on to urge all American carriers, including Amazon and FedEx, to refuse all delivery of fentanyl from China, as it is a threat to Americans.</p><p class='black-text'>The issued tariffs were stated by the Chinese Financial Ministry to impose upwards of $75 billion on traded goods with the U.S. and will take effect in two batches: the first on September 1, the second on December 15.</p><p class='black-text'>Shortly before the trade announcements between China and the U.S., Federal Reserve Chairman Jerome Powell said that the U.S. economy is in a "favorable place" but is at great risk. Powell sees that the U.S. economy is still vital, with consumer spending being the driving force behind the market. Powell stated that the Federal Reserve pledged to act accordingly to sustain expansion of the economy, which investors interpreted as Powell being open to an easier monetary policy to keep the economy stable and growing.</p><p class='black-text'>In retail news, The Gap <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GPS"><span style="color:#333">(</span><span style=";">GPS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GPS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GPS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GPS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Footlocker <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FL"><span style="color:#333">(</span><span style=";">FL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> quarterly reports saw the retailers falling short of expectations. Despite much of Friday's market decline, Salesforce <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CYM"><span style="color:#333">(</span><span style=";">CYM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CYM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CYM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CYM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> made an upward climb.</p><p class='black-text'>Monday will see reports on the market's continued response to the tariff disputes between China and the U.S as the starting date quickly approaches.</p> http://www.pws.io/us-and-china-in-continued-tariff-dispute Fri, 23 Aug 2019 16:27:15 -0400 Rachel Hemple Blockchain & Crypto Week of July 28 in Review http://www.pws.io/blockchain-crypto-week-of-july-28-in-review <p class='black-text'>The fourth week of July has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that controversial Tron (TRX) chief executive <a href="https://www.coindesk.com/justin-sun-apologizes-to-regulators-for-over-marketing-on-buffett-lunch">Justin Sun </a>gave a public apology on social media for his recent conduct to hype a cryptocurrency industry event. Sun wrote a letter in Mandarin on Weibo Thursday, saying he sincerely apologizes to the public, media, officials, and regulatory authorities for over-marketing and publicizing a highly-anticipated charity lunch with billionaire investor Warren Buffett of Berkshire Hathaway <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BRK.A"><span style="color:#333">(</span><span style=";">BRK.A</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BRK.A" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BRK.A" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BRK.A" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> fame. Sun did not specify which Chinese regulators he is referring. The letter came days after he postponed the lunch with Buffett, citing a health issue with kidney stones. It is unclear when the charity lunch between Sun and Buffett will be rescheduled.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'>The<a href="https://www.coindesk.com/irs-says-it-is-sending-warning-letters-to-us-cryptocurrency-owners"> US Internal Revenue Service</a> (IRS) announced Friday that it is sending warning letters to taxpayers who own cryptocurrency, advising them to pay back taxes they may owe or to file amended income tax returns. In a news bulletin, the agency said that it began mailing what it called "educational letters" last week. The IRS disclosed that it sent letters to more than 10,000 taxpayers whose names were obtained from compliance efforts. IRS Commissioner Charles Rettig said that taxpayers should take these letters very seriously by reviewing their tax filings. He added that the IRS is expanding its enforcement involving virtual currency, including with data analytics. He said the agency wants to help taxpayers better understand their crypto tax obligations. A few users in the crypto subreddits posted about receiving such a letter.</p><p class='black-text'><a href="https://www.coindesk.com/huawei-ceo-calls-on-china-to-create-a-rival-to-facebooks-libra-crypto">Huawei </a>chief executive Ren Zhengfei called on China to preempt Facebook's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> Libra stablecoin project. The telecommunications giant's head said that the time is ripe for China's government to take advantage of Facebook's regulatory hurdles and create a Chinese stablecoin. In an interview with Italian media outlet L'economia, Ren asserted that China has the ability to pursue a successful stablecoin. Some Chinese central bank members have worried that Libra's debut could negatively impact the country even though Facebook is banned there. But Wang Xin, the central bank's head of the research bureau, believes the competition could push China to form and issue its own national cryptocurrency.</p><p class='black-text'>Crypto prices moderately slipped to $264 billion. For the majors, all but Tether (USDT) and EOS ended up in the red, with bad losses posted by Bitcoin SV (BSV), Litecoin (LTC), Bitcoin (BTC), and Binance Coin (BNB). In the top 100, the biggest losers were Metaverse ETP (ETP), down a sharp 32%, Bitcoin Gold (BTG), down 27%, and Aurora (AOA), down 25%. The biggest gainers were UnlimitedIP (UIP), up a whopping 209%, Ren (REN), up 31%, and Nash Exchange (NEX), up 20%. Next week traders will watch if Bitcoin can break through the key $10,000 level again.</p><p class='black-text'><i>The author owns a small amount of BTC and LTC.</i></p> http://www.pws.io/blockchain-crypto-week-of-july-28-in-review Sun, 28 Jul 2019 19:54:21 -0400 Eric Yao Blockchain & Crypto Week of July 21 in Review http://www.pws.io/blockchain-crypto-week-of-july-21-in-review <p class='black-text'>The third week of July has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that US Treasury Secretary <a href="https://www.coindesk.com/us-treasury-secretary-mnunchin-says-g7-in-agreement-on-libra-cryptocurrencies">Steven Mnuchin </a>said the US government is on the same page with other financial ministries of the G7 regarding Facebook's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> Libra stablecoin project. He said there is a clear agreement from all G7 finance ministers and central bank governors that Libra raises significant concerns. Mnuchin said he wants the crypto industry to comply with the same rules that govern physical money service providers. Mnuchin reiterated that he wants to ensure people are using Bitcoin (BTC) and Libra for proper purposes, not illicit activities. For Mnuchin, the main concerns are money laundering and terrorism financing.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'>A new <a href="https://www.coindesk.com/for-15k-hell-fake-your-exchange-volume-youll-get-on-coinmarketcap">CoinDesk report </a>says that Gotbit and its 20-year-old founder Alexey Andryunin can fake trading volume on crypto exchanges for just $15,000. The Russia-based firm already has 30 clients. Founded in 2018, Gotbit writes bot programs to trade tokens with themselves in an unethical practice called wash trading. Wash trading is also illegal in the US. Listing a coin on a small exchange costs $8,000, and a month of making fake trade volume costs $6,000. Researchers analyzed the trading history of 48 global crypto exchanges and found that on 14 of them, genuine trading volume is basically zero. After a token is listed on two exchanges and shows some trading activity of as little as $100,000 a day, it can get listed on CoinMarketCap. No exchanges commented on the report.</p><p class='black-text'>A <a href="https://cointelegraph.com/news/china-ruling-bitcoin-is-property-again-is-major-milestone-says-investor">Chinese court</a> gave Bitcoin legal recognition in a further boost for the top coin in one of its harshest legal environments. According to local media coverage, the Hangzhou Internet Court formally categorized Bitcoin as virtual property on July 18. The second ruling to attribute property status to Bitcoin arose from between a defunct exchange and a user who lost funds. The case marks a significant watershed for Bitcoin and crypto in China, where the government has put in place a blanket ban on trading since September 2017. Despite the ban, many Chinese traders are finding alternatives to traditional exchanges, like over-the-counter deals and stablecoin conversions. A People's Bank of China spokesperson agreed with the court's decision, saying that Bitcoin is virtual property but not fiat money.</p><p class='black-text'>Crypto prices dipped slightly to $285 billion this week, despite Bitcoin's attempt to push back through $11,000. For the majors, Ethereum (ETH) and EOS posted the worst losses, while Bitcoin SV (BSV) and Litecoin (LTC) posted gains of 22% and 6%. In the top 100, the biggest losers were ABBC Coin (ABBC), down 28%, Crypto.com Chain (CRO), down 27%, and Quant (QNT), down 23%. The biggest gainers were Japan Content Token (JCT), up a whopping 75%, WAX (WAX), up 32%, and NEXT (NET), up 32%. Next week traders will see if crypto can snap the losing streak and challenge recent resistance.</p><p class='black-text'><i>The author owns a small amount of BTC and LTC.</i></p> http://www.pws.io/blockchain-crypto-week-of-july-21-in-review Sun, 21 Jul 2019 06:25:15 -0400 Eric Yao Blockchain & Crypto Week of July 14 in Review http://www.pws.io/blockchain-crypto-week-of-july-14-in-review <p class='black-text'>The second week of July has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that US Federal Reserve Chairman <a href="https://www.coindesk.com/fed-chairman-jerome-powell-compares-bitcoin-to-gold">Jerome Powell</a> commented on Bitcoin (BTC) somewhat positively. In his testimony to the Senate Banking Committee on Thursday, Powell focused on Facebook's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> Libra stablecoin project, saying the size of the tech giant's network means the stablecoin could be systemically important, like "too big to fail" banking institutions. Powell also noted that Bitcoin and other coins are not widely used for payments unlike stablecoins, but they are a speculative store of value as a gold alternative. The comments came one day after Powell warned of the vast economic dangers of returning to the gold standard. Many in the crypto community interpreted Powell's words to mean investors would be better off selling gold and buying cryptocurrency.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'>On Thursday US President <a href="https://twitter.com/realDonaldTrump/status/1149472282584072192">Donald Trump</a> tweeted a critique of Bitcoin, crypto assets, and Libra, in a historic first mention by a US president. He said he does not like them because they help foster illegal activities and are not money. He added that Facebook must apply for and obtain a banking charter in order to succeed with Libra and that the most reliable and dominant currency in the world is the US dollar (USD). Trump has long slammed Facebook before for its supposed bias against conservative views. The crypto community largely argued against Trump's tweets, with the Bitcoin Magazine and Morgan Creek cofounder Anthony Pompliano replying that Bitcoin has stronger valuation and crime resistance than Trump thinks. Tron (TRX) chief executive Justin Sun invited Trump to join the July 25 luncheon with Warren Buffett and other crypto founders.</p><p class='black-text'><a href="https://www.coindesk.com/japanese-exchange-bitpoint-hacked-by-32-million-worth-in-cryptocurrencies">Bitpoint </a>was hacked for $32 million worth of coins. CoinDesk reported Friday that Bitpoint, a Japanese exchange, halted all services after discovering questionable withdrawals from its hot wallet a day earlier. The exchange's parent company Remixpoint Inc. issued a statement saying that $23 million of the loss belonged to its customers. Though it is still unclear which coins were stolen, the exchange offered trading of Bitcoin, Bitcoin cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). The Bitpoint hack is the latest in a long history of breaches of Japanese cryptocurrency exchanges.</p><p class='black-text'>Crypto prices corrected heavily to around $290 billion this week, exhausted from the recent bull run. For the majors, all coins excepted Tether (USDT) closed negative, with Tether and Bitcoin posting the smallest losses and Bitcoin SV (BSV) and EOS posting large double digit losses. In the top 100, the biggest losers were SOLVE (SOLVE), down 35%, IOST (IOST), down 35%, and Ardor (ARDR), down 35%. The biggest gainers were Bezant (BZNT), up a whopping 381%, Egretia (EGT), up 62%, ICON (ICX), up 27%. Next week traders will watch for a bounce back toward $300 billion.</p><p class='black-text'><i>The author owns a small amount of BTC.</i></p> http://www.pws.io/blockchain-crypto-week-of-july-14-in-review Sun, 14 Jul 2019 06:35:46 -0400 Eric Yao Fed Concerned about Corporate Debt http://www.pws.io/fed-concerned-about-corporate-debt <p class='black-text'>The Fed released a report on Monday that spotlighted rising levels of <a href="https://www.wsj.com/articles/fed-flags-elevated-asset-prices-high-debt-as-u-s-financial-risks-11557169431">risky corporate debt </a>as a large potential threat to the US economy.</p><p class='black-text'>The main points of concern are an augmented number of leveraged loans, which grew by 20% last year and currently stands as a a <a href="https://www.wsj.com/articles/fed-flags-elevated-asset-prices-high-debt-as-u-s-financial-risks-11557169431">$1.1 trillion market, as well as high asset prices and rising levels of borrowing by businesses.</a></p><p class='black-text'>"Borrowing by businesses is historically high ... with the most rapid increases in debt concentrated among the riskiest firms amid signs of deteriorating credit standards," the Fed <a href="https://www.wsj.com/articles/fed-flags-elevated-asset-prices-high-debt-as-u-s-financial-risks-11557169431">stated</a> in its <a href="https://www.federalreserve.gov/publications/files/financial-stability-report-201905.pdf">financial stability report.</a></p><p class='black-text'>A lot of the hefty returns in the fixed income department can be accredited to the more benign outlook on interest rates, as the Fed begins to ease its monetary policy. This has helped the investment grade sector yield total returns of <a href="https://www.euronews.com/2019/05/12/foreign-investors-flock-to-us-corporate-bond-market-for-yield">5.6% so far this year, after a 2.2% loss in 2018. Moreover, the high yield market has had an 8.3% return, after last year's loss of 2.3%. </a></p><p class='black-text'>The report also touched on some external economic shocks that could prompt a recessionary turn, including spillover effects from Brexit, the ongoing<a href="https://www.wsj.com/articles/fed-flags-elevated-asset-prices-high-debt-as-u-s-financial-risks-11557169431"> US-China trade war and waning global economic growth. </a></p><p class='black-text'>Even though the defaults on the aforementioned loans are currently low, the Fed is concerned that businesses are treading a path very similar to the one that led into the 2008 economic crisis, and that fixed income returns are perhaps deceptively high at the moment.</p><p class='black-text'>This analysis is based on the notion that positive gains right now are fragile, and could topple at any moment given some reasonable <a href="https://www.nytimes.com/2019/05/06/us/politics/federal-reserve-risky-corporate-loans.html">negative influence</a>: "Any weakening of economic activity could boost default rates and lead to credit-related contractions to employment and investment among these businesses."</p><p class='black-text'>Special attention will be given to the current underwriting standards and procedures used by sellers of leveraged loans, which, if designed clumsily, could lead to the creation of loans that are ineffective and carry high default risk.</p><p class='black-text'>"Credit standards for new leveraged loans appear to have deteriorated further over the past six months . The share of newly issued large loans to corporations with high leverage-defined as those with a ratio of debt-to-EBITDA (earnings before interest, taxes, depreciation, and amortization) above 6-increased in the second half of last year and the first quarter of this year and now exceeds previous peak levels observed in 2007 and 2014, when underwriting quality was poor," the report <a href="https://www.federalreserve.gov/publications/files/financial-stability-report-201905.pdf">states</a>.</p> http://www.pws.io/fed-concerned-about-corporate-debt Thu, 11 Jul 2019 17:45:33 -0400 Tamanna Chhibbar Trump Plans to Raise Chinese Tariffs http://www.pws.io/trump-plans-to-raise-chinese-tariffs <p class='black-text'>In a bout of impatience, Trump threatened to drastically raise Chinese tariffs, as the latter considered pulling out of trade talks on <a href="https://www.wsj.com/articles/trump-says-he-will-increase-tariffs-on-200-billion-of-chinese-goods-from-10-to-25-on-friday-11557075332">Sunday</a>.</p><p class='black-text'>Trump took to Twitter to state that he was planning to raise tariffs on<a href="https://www.wsj.com/articles/trump-says-he-will-increase-tariffs-on-200-billion-of-chinese-goods-from-10-to-25-on-friday-11557075332"> $200 billion in Chinese imports</a> to <a href="https://www.wsj.com/articles/trump-says-he-will-increase-tariffs-on-200-billion-of-chinese-goods-from-10-to-25-on-friday-11557075332">25% starting from Friday.</a> These levies are 10% currently. He also stated that he would imminently impose <a href="https://www.wsj.com/articles/trump-says-he-will-increase-tariffs-on-200-billion-of-chinese-goods-from-10-to-25-on-friday-11557075332">25% tariffs on the $325 billion</a> in Chinese goods that have not been taxed since the trade war begun.</p><p class='black-text'>"The Trade Deal with China continues, but too slowly, as they attempt to renegotiate," Trump <a href="https://www.wsj.com/articles/trump-says-he-will-increase-tariffs-on-200-billion-of-chinese-goods-from-10-to-25-on-friday-11557075332">tweeted</a>. "No!"</p><p class='black-text'>It is expected that the Chinese will react swiftly and strongly. Previously, they raised duties on <a href="https://www.theguardian.com/world/2019/may/12/trump-china-tariff-hike-trade-war">$110 billion of American imports</a> in retaliation to initial tariff hikes. They have also slowed customs clearance for large US corporations and exacerbated the existing regulatory lens that was always on such companies.</p><p class='black-text'>"Let Trump raise tariffs. Let's see when trade talks can resume," Hu Xijin, a notable Chinese journalist, <a href="https://www.theguardian.com/business/2019/may/05/trump-escalates-trade-war-with-china-with-plan-to-raise-tariffs">said</a> in a tweet.</p><p class='black-text'>Although Asian stocks have plummeted by <a href="https://www.theguardian.com/business/2019/may/05/trump-escalates-trade-war-with-china-with-plan-to-raise-tariffs">4%</a> in light of investor concern over the potential implementation of Trump's threat, many believe it is just that: a threat. Trump is known to make volatile statements that are often personally motivated and not necessarily politically vetted, and this may be a product of that trend.</p><p class='black-text'>"With President Trump, you never know, but there is a good chance that this is just a threat," <a href="https://www.wsj.com/articles/trump-says-he-will-increase-tariffs-on-200-billion-of-chinese-goods-from-10-to-25-on-friday-11557075332">said Chad Bown, a senior fellow at the Peterson Institute for International Economics. </a>"If they announce a deal later this week, it will make it appear as if he acted as tough as possible to get the deal."</p><p class='black-text'>That said, if the tariffs were to ultimately materialize, the process could take up to<a href="https://www.theguardian.com/world/2019/may/12/trump-china-tariff-hike-trade-war"> three months at least. </a>It would need to be designed, measured and ultimately ratified in order to manifest in a tangible manner that would start affecting Chinese products and businesses- and US consumers, for that matter.</p><p class='black-text'>With respect to the threat, Kamala Harris, a leading presidential candidate for the Democratic party, <a href="https://www.theguardian.com/world/2019/may/12/trump-china-tariff-hike-trade-war">said</a>: "It is a display of a president who thinks that unilateral action is better than working with the friends to address issues that not only impact our country, but impact the globe. And I think it puts us in a weaker position."</p> http://www.pws.io/trump-plans-to-raise-chinese-tariffs Thu, 11 Jul 2019 17:45:23 -0400 Tamanna Chhibbar Blockchain & Crypto Week of July 7 in Review http://www.pws.io/blockchain-crypto-week-of-july-7-in-review <p class='black-text'>The first week of July has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that a<a href="https://www.coindesk.com/uk-finance-watchdog-takes-step-toward-ban-on-crypto-derivatives-etns"> key UK financial watchdog</a> plans to outlaw cryptocurrency-based derivatives in order to protect investors from financial harm. In a press release published Wednesday, the Financial Conduct Authority announced it is consulting an outright prohibition on the "sale, marketing and distribution to all retail consumers" of derivatives including CFDs, options, and futures, as well as exchange-traded notes linked to "unregulated transferable crypto assets" by firms operating or based in the UK. The regulatory agency said it believes such financial products are badly risky for unsophisticated retail investors. The FCA added it expects to publish its final guidance on crypto assets report later this summer.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'><a href="https://www.coindesk.com/brazilian-bank-plans-to-use-tezos-blockchain-for-stos-worth-1-billion">BTG Pactual</a>, Brazil's fifth largest bank and largest investment bank, will use the Tezos (XTZ) blockchain for security token offerings potentially worth $1 billion. BTG is partnering with Dubai-based asset manager Dalma Capital. In a press release Wednesday, the two firms said they would utilize the Tezos network for the sale of digital securities to address a $1 billion market opportunity. Dalma Capital has joined the effort as joint underwriter for the ReitBZ tokenized property offering, and further expects to use Tezos for other asset tokenization projects from real estate to sports clubs. Tim Draper, CEO of Draper Associates, which holds a stake in Tezos, said he is excited to see the two firms cooperate to make use of the Tezos blockchain for security tokens.</p><p class='black-text'><a href="https://www.coindesk.com/sanctions-hit-cuba-eyes-cryptocurrency-as-solution-to-financial-woes">Cuba </a>announced it is considering the use of cryptocurrency in order to bolster its public finances. According to a report, the country's government announced on state-run TV that it would potentially use crypto as part of a package aimed to boost incomes of Cubans and assist with market reforms. The move is possibly influenced by Venezuela, an ally of the communist nation, which launched its own petro cryptocurrency early last year. Cuba is similarly suffering under US economic sanctions. In the TV announcement, Cuban President Miguel Diaz-Canel suggested that the cryptocurrency plan will try to raise national production and demand in order to boost growth. It is unclear if Cuba will launch its own token or use existing coins. Firms assisting the Cuban project in avoiding sanctions could get into trouble with the US government.</p><p class='black-text'>Crypto prices enjoyed a week of wild swings, closing slightly positive at just over $324 billion on Sunday. For the majors, all except Tether (USDT) posted losses, with Litecoin (LTC), Cardano (ADA), and Tron (TRX) being the most in the red. In the top 100, the biggest losers were Aurora (AOA), down 20%, VestChain (VEST), down 20%, and VeChain (VET), down 13%. The biggest winners were Waltonchain (WTC), up a whopping 87%, NEXT (NET), up 44%, and Quant (QNT), up 40%. Next week traders will watch if Bitcoin (BTC) and Ethereum (ETH) can rebound.</p><p class='black-text'><i>The author owns a small amount of BTC and LTC.</i></p> http://www.pws.io/blockchain-crypto-week-of-july-7-in-review Sun, 07 Jul 2019 17:54:40 -0400 Eric Yao Google Introduces New Privacy Tools http://www.pws.io/google-introduces-new-privacy-tools <p class='black-text'>Google <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GOOGL"><span style="color:#333">(</span><span style=";">GOOGL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GOOGL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GOOGL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GOOGL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has begun preparing for the launch of its<a href="https://www.wsj.com/articles/googles-new-privacy-tools-to-make-cookies-crumble-competitors-stumble-11557151913"> new privacy tools</a>, which will work to limit the use of tracking cookies and endow users with more transparency with respect to how their information is being used by different types of cookies.</p><p class='black-text'>What sets Google apart from its competitors is the fact that it has set up a "<a href="https://www.wsj.com/articles/googles-new-privacy-tools-to-make-cookies-crumble-competitors-stumble-11557151913">dashboard</a>" of sorts that allows users to pick and choose a plethora of different cookies combinations depending on what they prefer. This is unlike the Firefox Browser or Apple's Safari <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAPL"><span style="color:#333">(</span><span style=";">AAPL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAPL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAPL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAPL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, which has preset options regarding cookies settings that automatically update without the same level of transparency</p><p class='black-text'>Of course, the new changes make Google all the more marketable and palatable to individual users and corporate clients the world over, giving the tech behemoth an advantage and more scope for collecting advertising revenue.</p><p class='black-text'>"They're sort of marginal improvements," <a href="https://www.marketwatch.com/story/google-unveils-new-privacy-tools-smarter-ai-assistant-cheaper-phones-2019-05-07">said Jeremy Tillman, president of Ghostery, which provides ad-blocking and anti-tracking software.</a> "They are not bad, but they almost seem like they're designed to give the company a better messaging push instead of making wholesale improvements to user privacy."</p><p class='black-text'>Furthermore, the cookies that Google is targeting are <a href="https://www.wsj.com/articles/googles-new-privacy-tools-to-make-cookies-crumble-competitors-stumble-11557151913">not those that are directly related to the websites that are being used themselves,</a> but rather those that are installed by third parties that seek to make a profit. This way, websites cannot effectively streamline consumer experiences, and there will be a greater need for Google's services.</p><p class='black-text'>That said, Google is not the only one upping its privacy game.</p><p class='black-text'>Microsoft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MSFT"><span style="color:#333">(</span><span style=";">MSFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MSFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MSFT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MSFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also revealed a new privacy tools concept for its upcoming Chromium-based Microsoft Edge web browser on the <a href="https://www.ghacks.net/2019/05/06/microsoft-unveils-new-edge-privacy-tools-concept/">first day of the 2019 Microsoft Build conference.</a></p><p class='black-text'>The move was made prior to Google's announcement, though it remains true that the new settings still only have three tiers of presets:<a href="https://www.ghacks.net/2019/05/06/microsoft-unveils-new-edge-privacy-tools-concept/"> unrestricted, balanced and strict, </a>unlike Google which is more flexible.</p><p class='black-text'>The reason Microsoft did not fully<a href="https://www.ghacks.net/2019/05/06/microsoft-unveils-new-edge-privacy-tools-concept/"> integrate ad-blocking into its system</a> like Google did may be because it is not as dependent on advertising revenue as Google is, and thus has less of a need to pander to mass privacy concerns that have been developing.</p> http://www.pws.io/google-introduces-new-privacy-tools Tue, 02 Jul 2019 06:47:25 -0400 Tamanna Chhibbar Kraft to Retool Financial Results After Misconduct Investigation http://www.pws.io/kraft-to-retool-financial-results-after-misconduct-investigation <p class='black-text'>Kraft Heinz has come under regulatory scrutiny for accounting errors that have been traced back to run as far as <a href="https://www.wsj.com/articles/kraft-to-restate-financial-results-following-investigation-11557144423">several years deep.</a></p><p class='black-text'>In light of this financial misconduct, the company is restating a plethora of its financial results, some of which go back to 2016. After adjustments, it was found that there was a discrepancy of around <a href="https://www.wsj.com/articles/kraft-to-restate-financial-results-following-investigation-11557144423">$208 million </a>that the company is now accounting for.</p><p class='black-text'>The food behemoth has chalked down some of the errors to <a href="https://www.bloomberg.com/news/articles/2019-05-06/kraft-heinz-to-restate-earnings-as-procurement-misconduct-found">procurement practices,</a> in which it found evidence of employee misconduct that increased the cost of goods sold: "During the course of a thorough internal investigation, some discrepancies were uncovered which affected the way earnings were calculated between periods," Kraft Heinz said in a<a href="https://www.bloomberg.com/news/articles/2019-05-06/kraft-heinz-to-restate-earnings-as-procurement-misconduct-found"> filing.</a> "The findings from the investigation did not identify any misconduct by any member of the senior management team," a company spokesman further <a href="https://www.reuters.com/article/us-kraft-heinz-restatement/kraft-heinz-to-restate-nearly-three-years-of-financial-reports-after-investigation-idUSKCN1SC0VF">elaborated</a>.</p><p class='black-text'>Whats more is that Kraft also has missed a series of important financial reporting deadlines in the past, around the same time it announced that it was writing down the value of a handful of its subsets by <a href="https://www.wsj.com/articles/kraft-to-restate-financial-results-following-investigation-11557144423">$15 billion. </a>This has left investors extremely concerned, particularly because the company has also been erratic with responding to them about existing woes.</p><p class='black-text'>Warren Buffet, Kraft's biggest investor and the owner of Berkshire Hathaway, which has a<a href="https://www.reuters.com/article/us-kraft-heinz-restatement/kraft-heinz-to-restate-nearly-three-years-of-financial-reports-after-investigation-idUSKCN1SC0VF"> 26.7% stake</a> in the company, maintains that Kraft has his support and insists that the corporation will survive this issue. Buffet has a lot invested in the company; not only fiscally, but also, personally. He spearheaded the Kraft Heinz merger in <a href="https://www.bloomberg.com/news/articles/2019-05-06/kraft-heinz-to-restate-earnings-as-procurement-misconduct-found">2015 along with 3G capital,</a> which helped the company cut costs and boost margins. Therefore, his vote of confidence is a matter of great importance, particularly as a symbol of stability for anxious investors.</p><p class='black-text'>"While we expect there will be more change, the worst of the uncertainty surrounding financial statements appears to be over," Consumer Edge Research's Jonathan Feeney <a href="https://www.reuters.com/article/us-kraft-heinz-restatement/kraft-heinz-to-restate-nearly-three-years-of-financial-reports-after-investigation-idUSKCN1SC0VF">said</a>.</p> http://www.pws.io/kraft-to-retool-financial-results-after-misconduct-investigation Tue, 02 Jul 2019 06:47:11 -0400 Tamanna Chhibbar The Battle for the Permian Basin http://www.pws.io/the-battle-for-the-permian-basin <p class='black-text'>Oil behemoth Occidental <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/OXY"><span style="color:#333">(</span><span style=";">OXY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="OXY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="OXY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="OXY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and other oil giants such as Chevron <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CVX"><span style="color:#333">(</span><span style=";">CVX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CVX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CVX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CVX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> are vying to buy out Andarko Petroleum and capture a good portion of the goldmine of the oil industry: the Permian Basin, which spans <a href="http://fortune.com/2019/05/08/chevron-occidental-anadarko-oil-field-permian/">75,000 square miles</a> in west Texas, running from New Mexico.</p><p class='black-text'>The Permian Basin is an oilfield that was responsible for the production of <a href="http://fortune.com/2019/05/08/chevron-occidental-anadarko-oil-field-permian/">4.1 million barrels per day of crude oil just in April, </a>making it the second-largest producing oilfield in the world after Saudi Arabia's Ghawar field. It is well on its way to becoming the largest.</p><p class='black-text'>At the moment, Occidental is beating out Chevron in the race to buy out Andarko, with the former arranging for <a href="https://www.wsj.com/articles/occidental-ceo-battles-oil-field-giant-to-rule-the-permian-basin-11557269895">$10 billion of financial backing</a> from business kingpin Warren Buffet in order to make the offer more alluring.</p><p class='black-text'>"Increasingly, super majors such as Chevron and ExxonMobil are dominating the Permian," James Reeve, chief economist at Samba Financial Group, wrote in a<a href="https://www.gfmag.com/magazine/may-2019/oil-majors-battle-shale-leadership"> recent report.</a> "These firms have both the cash flow to ride out periods of low oil prices, and the technology to overcome issues stemming from congested well placement. Both Chevron and Exxon expect to treble their Permian output over the next five years or so."</p><p class='black-text'>Vicki Hollub, CEO of Occidental, is committed to closing the deal at any cost. So much so, that the aggressive attempt to push the deal has in fact been censured by many important investors, whom Hollub has attempted to circumvent. This may be because currently, Occidental is on its way to becoming only the <a href="https://www.wsj.com/articles/occidental-ceo-battles-oil-field-giant-to-rule-the-permian-basin-11557269895">fifth-largest oil company in the world by 2025,</a> given that the company remains rooted in its ways and nothing changes.</p><p class='black-text'>That said, Chevron has an advantage over Occidental that will be difficult to overcome: scale. Chevron CEO and Chairman Michael Wirth once <a href="https://www.gfmag.com/magazine/may-2019/oil-majors-battle-shale-leadership">stated in an interview, </a>"the shale game is a scale game." Given that the company has currently only tapped into<a href="https://www.gfmag.com/magazine/may-2019/oil-majors-battle-shale-leadership"> 8% to 9% of its reserves,</a> it thus has immense scope for raising capital in a way that Occidental cannot surpass. What's more is that Chevron also owns the land it drills on and therefore has <a href="https://www.gfmag.com/magazine/may-2019/oil-majors-battle-shale-leadership">no drilling right fees to pay</a>, cutting costs in that regard as well.</p><p class='black-text'>David Katz, president and chief investment officer of Occidental shareholder Matrix Asset Advisors, <a href="https://www.wsj.com/articles/occidental-ceo-battles-oil-field-giant-to-rule-the-permian-basin-11557269895">said</a>, "Vicki Hollub seems committed to getting this done at any cost." He said her "´╗┐obligation should be to maximize value, not to maximize the empire. We urge the company to consider selling rather than buying."</p> http://www.pws.io/the-battle-for-the-permian-basin Tue, 02 Jul 2019 06:46:55 -0400 Tamanna Chhibbar Takeaways from the First Democratic Debate Night One http://www.pws.io/takeaways-from-the-first-democratic-debate-night-one <iframe width="100%" height="400" src="entire event" frameborder="0" allowfullscreen></iframe><iframe width="100%" height="400" src="https://www.youtube.com/embed/vJ6MrDO0kgY">entire" frameborder="0" allowfullscreen></iframe><p class='black-text'>The Democratic Party, along with Comcast's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CMCSA"><span style="color:#333">(</span><span style=";">CMCSA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CMCSA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CMCSA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CMCSA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> NBC News and Telemundo, hosted the first night of its first 2020 primary debate last Thursday, and I enjoyed watching the . Although nobody knew what to expect and the candidates seemed slightly nervous, the first night featured plenty for everyone. There were funny moments, like the moderator microphone mishap to start the second half and many candidates' response to Representative Beto O'Rourke's sudden switch to speaking Spanish in the middle of an answer on taxes. There was spectacle in many heated exchanges between two candidates. There was inspiration, like when Senator Elizabeth Warren (D-MA) reiterated she believes healthcare is a fundamental human right.</p><p class='black-text'>There were a few major and minor winners from the first night. Representative Tulsi Gabbard stood out in a great way. As the pro-peace candidate, she offered her antiwar message in a strong and moving manner. She warned that the Trump administration's escalating tensions with Iran could cause a war far worse than the Iraq war. Warren also did well, spelling out her vision of social democracy that lifts up all Americans. She gave her reasons for taxing the rich more and ensuring universal healthcare through Medicare for All. Finally, former Housing Secretary Juli├ín Castro also found a breakout moment when he revealed his proposal to decriminalize illegal entry into the US in order to ensure the border internment camps are abolished. New York City mayor Bill DeBlasio and Washington governor Jay Inslee also performed decently, telling viewers their messages clearly and effectively.</p><p class='black-text'>There were a few major and minor losers too. Representative Tim Ryan absolutely embarrassed himself. He looked unprepared and confused most of the time. His exchange with Gabbard over what to do with remaining troops in the Middle East made him look weak and ignorant. O'Rourke also fizzled out, first with the random Spanish pandering and then with his exchange with Castro over immigration reform. Castro told O'Rourke to do his homework, and O'Rourke could not muster a good comeback. Senator Cory Booker (D-NJ) did not flop, but he had a few strange moments. He spoke broken Spanish after O'Rourke, and he came out as the only candidate against the 2015 Iran deal for no good reason. He also seemed relatively light on policy details, which looked bad as he stood next to policy wonk Warren. Representative John Delaney and Senator Amy Klobuchar (D-MN) failed to make any big impressions regarding personality or policy.</p><p class='black-text'>Overall, the first night of the first Democratic debate was a fun event with some surprises. Unfortunately, the NBC moderators did some things wrong too. First, they did nothing to enforce time limits, letting some candidates ramble on way past their time limits. Second, they refused to tell the audience to quiet down when candidates spoke. Third, they showed clear favoritism among the candidates. Some candidates like Warren and Booker received numerous questions and over 10 minutes of total speaking time, while others like Gabbard and Inslee were relatively ignored. Finally, I predict that Ryan and Delaney will drop out by next month's debate, and Gabbard and Castro will rise in the polls.</p><p class='black-text'><i>The author is an independent voter sharing his own opinion.</i></p> http://www.pws.io/takeaways-from-the-first-democratic-debate-night-one Mon, 01 Jul 2019 23:28:13 -0400 Eric Yao Blockchain & Crypto Week of June 30 in Review http://www.pws.io/blockchain-crypto-week-of-june-30-in-review <p class='black-text'>The fourth week of June has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that <a href="https://www.coindesk.com/a-wannabe-netflix-raised-575-million-on-ethereum-then-ditched-crypto">TaTaTu </a>reportedly deceived investors through cryptocurrency fundraising. The company's 2018 initial coin offering (ICO) raised an enormous $575 million from investors while marketing itself as the next Netflix <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NFLX"><span style="color:#333">(</span><span style=";">NFLX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NFLX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NFLX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NFLX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> of blockchain. But one year later, TaTaTu has turned into a rewards program for watching videos. The company recently confirmed that it is not a blockchain business, but an enterprise with a small blockchain component. As the Ethereum-based (ETH) TTU token sees low activity, investors and other critics allege that the company took advantage of the cryptocurrency craze to become one of the top five ICOs of 2018. Instead of a blockchain platform, TaTaTu is now a streaming platform.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'><a href="https://www.bloomberg.com/news/articles/2019-06-28/kkr-s-kravis-invests-in-his-former-credit-analyst-s-crypto-fund">Henry Kravis</a>, billionaire investor and philanthropist, is finally buying into the world of crypto assets. According to a Bloomberg report, Kravis, cofounder of global investment management firm KKR & Co <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/KKR"><span style="color:#333">(</span><span style=";">KKR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="KKR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="KKR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="KKR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, apparently invested in a cryptocurrency fund offered by ParaFi Capital. ParaFi Capital is described as an "investment firm focused on the blockchain ecosystem" with backing from Bain Capital Ventures, Dragonfly Capital Partners, and others. ParaFi has reportedly invested in crypto exchange Coinbase and Ethereum-based stablecoin developer MakerDAO. Kravis' move represents another titan of traditional finance experimenting with the crypto sector.</p><p class='black-text'>The <a href="https://www.coindesk.com/trump-administration-in-talks-with-crypto-startup-on-israeli-palestinian-peace-plans">Trump administration</a> has contacted Israeli crypto startup Orbs to develop blockchain solutions for the Middle East region's longstanding political conflicts. White House officials met with Orbs in Bahrain this week. Economist and top Trump advisor Kevin Hassett even floated the idea of using blockchain technology to resolve land title disputes in the Palestinian territories, which perhaps overlooks the fact such conflicts generally involve the Israeli military. There were no Palestinians present at the meeting, but the Palestinian Monetary Authority is also reportedly exploring blockchain solutions. Orbs cofounder Netta Korin said the firm is working with the US State Department on several secret blockchain projects.</p><p class='black-text'>Crypto prices corrected and then rebounded this week, closing at $323 billion. Bitcoin (BTC) dominance rose to a high of 62% as the largest coin topped $11,000. For the majors, Bitcoin led with the sole gain, while EOS, Bitcoin SV (BSV), Bitcoin Cash (BCH), and Ripple (XRP) posted heavy double-digit losses. In the top 100, the biggest losers were Dent (DENT), down 40%, Grin (GRIN), down 21%, and Monero (XMR), down 20%. The biggest gainers were Chainlink (LINK), up a whopping 115%, Egretia (EGT), up 79%, and Lambda (LAMB), up 53%. Next week investors will see if Bitcoin can regain the $12,000 and $13,000 levels.</p><p class='black-text'><i>The author owns a small amount of BTC.</i></p> http://www.pws.io/blockchain-crypto-week-of-june-30-in-review Sun, 30 Jun 2019 22:46:38 -0400 Eric Yao Bernie Sanders is the Notable Progressive http://www.pws.io/bernie-sanders-is-the-notable-progressive <p class='black-text'>Four years ago, the notable progressive Senator Bernie Sanders (I-VT) launched a surprise presidential run from the left and gave eventual Democratic nominee Hillary Clinton the fight of their lives. After he <a href="https://www.politico.com/story/2019/02/16/bernie-sanders-2020-1173339">officially announced</a> his 2020 presidential bid on February 19, Sanders is working on his second try and hoping it ends instead with a victory thanks to the enduring power of the post-2016 Our Revolution movement. Although so far Sanders is polling firmly in the top 3 with double digits along with former vice president Joe Biden and Senator Elizabeth Warren (D-MA), the self-proclaimed democratic socialist faces many challenges in a crowded primary field of 25 candidates.</p><p class='black-text'>The 77-year-old <a href="https://www.businessinsider.com/who-is-bernie-sanders-bio-age-family-key-positions-2019-3">Sanders </a>was born in Brooklyn, New York to a working class immigrant family. He attended the University of Chicago and studied political science. After joining the civil rights movement and labor activism, he worked a variety of jobs. In 1980, Sanders ran for mayor of Burlington, Vermont and served until 1989. In 1990, he was elected to the US House of Representatives as an independent, where he served until 2005. He then won election to the Senate and reelection in 2012 and 2018. As a Senator, Sanders sits on the powerful Budget Committee as the ranking member, and the Environment, Energy and Natural Resources, Health, Education, Labor, and Pensions, and Veterans' Affairs Committees. Since 2011, Sanders remains one of the most popular US politicians.</p><div class="image-holder"><img id="193" alt="Bernie Sanders" src="//images2.paszport.ws/cached_images/2a75b2bbfea4451c3c045f71dc2288cc.jpg" /><div class="copyright-holder">&copy; Juli Hansen / Shutterstock</div></div><div class="image-description">Bernie Sanders</div><p class='black-text'>As a forefather of the contemporary progressive movement, Sanders positioned himself as the left-leaning policy wonk versus Clinton, but in the 2020 cycle he has offered few new ideas. He has recycled his 2016 platform, which was revolutionary at that time. <a href="https://berniesanders.com/">Sanders' platform</a> still advocates Medicare for All, total student loan debt forgiveness, free public college, a $15 national minimum wage, the Green New Deal, breaking up the big banks, a Wall Street transactions tax, and federal jobs guarantee, among other proposals. His campaign also added a plank to rebuild Puerto Rico and fight for Native American treaty rights and sovereignty. As a whole, Sanders' platform is one of the most progressive in the Democratic primary, considering there are many moderates running.</p><p class='black-text'>Although he almost snatched victory last time, Sanders faces more <a href="https://www.washingtonpost.com/news/powerpost/paloma/daily-202/2019/02/19/daily-202-the-biggest-challenges-facing-bernie-sanders-2-0/5c6afee71b326b71858c6bbd/">challenges </a>now. First, his age is a subtle liability. He is four years older than President Donald Trump and would be 79 at the 2021 inauguration. Young voters might want someone new. Second is that much of his platform has been adopted by the progressive wing of the party. Warren's and Representative Tulsi Gabbard's platforms are nearly identical, minus the jobs guarantee and some foreign policy issues. Third, some candidates have proposed more radical or innovative policy ideas. Andrew Yang's Freedom Dividend and Julian Castro's decriminalization of illegal entry come to mind. Finally, the numbers are favorable. While Sanders only needed to beat Clinton back then, now he needs to beat back 24 other competitors. Although he might lose the upcoming election, Sanders' progressive revolution will live on in the Democratic Party's policies and spirit.</p> http://www.pws.io/bernie-sanders-is-the-notable-progressive Thu, 27 Jun 2019 21:32:59 -0400 Eric Yao Dating App Bumble to Open Cafe and Wine Bar http://www.pws.io/dating-app-bumble-to-open-cafe-and-wine-bar <p class='black-text'>Earlier this week, Dating app Bumble announced plans to create its first cafe and wine bar later this fall. The shop, to be called Bumble Brew, will allow Bumble users to meet and mingle with prospective partners face-to-face. The company has also announced that it will place the cafe, which will turn into a wine bar at night, in SoHo New York. <a href="https://www.bloomberg.com/news/articles/2019-06-04/dating-app-bumble-is-opening-a-new-york-wine-bar-and-cafe">By serving date-friendly foods, characterized by small plates that are designed to embarrass those that are present for a meeting</a> (for example, meals dripping with sauce), the Bumble team hopes to foster relationships created online in a welcoming environment dedicated to first-time meet ups.</p><p class='black-text'>No stranger to innovative methods of dating, Bumble joined the dating app market as the first platform that allows only women to 'make the first move'. In doing so, males can continue the conversation only after a woman has engaged with them first. Such a method differs from other popular dating apps such as Tinder and OK Cupid, which have been criticized for the prevalence of unwanted male engagement that are primarily sexual. Bumble's alternative dating strategy has found success, and allowed the company to open other ventures such as Bumble Bizz and Bumble BFF, which allow users to network with potential business partners and make friends, respectively. The dating app <a href="https://thefreshtoast.com/culture/bumble-is-opening-a-bar-that-will-only-serve-date-friendly-foods/">also boasts 160 million users across 150 countries, most of which are located in New York (40%)</a>. Crucially, the company has <a href="https://www.cnn.com/2019/06/04/tech/bumble-brew-nyc/index.html">also launched their app in India</a>, which is currently considered the most dangerous country to exist as a woman. Despite this, the country has had 2.8 million Bumble conversations to date.</p><div class="image-holder"><img id="2981" alt="" src="//images2.paszport.ws/cached_images/1536102106-5b8f0eda1de4a.jpg" /><div class="copyright-holder">&copy; dennizn / Shutterstock, Inc.</div></div><p class='black-text'>Bumble Brew will be the product of earlier ventures to create a physical space for meeting prospective partners and significant others. In 2017, Bumble hosted a <a href="https://www.cnn.com/2019/06/04/tech/bumble-brew-nyc/index.html">pop-up store in Soho called Hive, which featured foods, drinks and professional and personal development workshops aimed at women</a>. The subsequent hive, taking space in Los Angeles, also found success and stayed open for a couple of months. Bumble Chief of Staff Caroline Ellis Roche <a href="https://www.bloomberg.com/news/articles/2019-06-04/dating-app-bumble-is-opening-a-new-york-wine-bar-and-cafe">remarked that when Bumble users migrated across the street to a coffee shop after the pop-up, they were "hacking Bumble Brew" for the company already. </a></p><p class='black-text'>Nevertheless, only time will tell if Bumble will make revenue from its first Bumble Brew, which will inevitably be challenged by the high rental prices of SoHo as well as the desire of Bumble to offer prices low enough to be accessible to all Bumble users. However, these facts don't appear the stop bumble from striving to create such spaces anyway. Roche <a href="https://www.bloomberg.com/news/articles/2019-06-04/dating-app-bumble-is-opening-a-new-york-wine-bar-and-cafe">noted that Bumble "has big plans to Austin as well" that may come to fruition after Bumble has established a new space for its headquarters. </a></p> http://www.pws.io/dating-app-bumble-to-open-cafe-and-wine-bar Thu, 27 Jun 2019 21:32:32 -0400 Arlene Lormestoire Andrew Yang is the Dark Horse http://www.pws.io/andrew-yang-is-the-dark-horse <p class='black-text'><a href="https://www.yang2020.com/">Andrew Yang</a> is the dark horse who could win the Democratic primary basically out of nowhere. Despite polling at up to 3% and enjoying an intense online following, Yang is still relatively unknown to the general populace. Yang is the dark horse because he is a policy wonk approaching issues with data and prescience and marketing his big tent platform to progressives, conservatives, and independents alike. The fact that his campaign is part of online meme culture and has spread virally thanks to indie media outlets also helps. Finally, Yang seems to exude charisma through being an honest, deeply empathetic person who truly cares about the American people and their future.</p><p class='black-text'>The 44-year-old <a href="https://www.businessinsider.com/who-is-andrew-yang-bio-age-family-key-positions-2019-3">Yang </a>was born in New York to a middle class family of Taiwanese immigrants. He attended Brown University, where he studied economics, and then graduated from Columbia Law. He worked as a corporate lawyer for a few months but quit to launch a startup. He then worked at Manhattan Prep and became CEO. After Kaplan <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GHC"><span style="color:#333">(</span><span style=";">GHC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GHC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GHC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GHC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> acquired Manhattan Prep in 2009, Yang founded Venture for America, a nonprofit that trains new college graduates to become entrepreneurs at startups in growing US cities. He won recognition twice from President Obama for his work with VFA. He is married to Evelyn and has two sons. Yang has never held public office and runs as an outsider candidate.</p><p class='black-text'>Yang's platform features <a href="https://www.nytimes.com/interactive/2019/us/politics/andrew-yang-2020-campaign.html">three main pillars</a>. First is the Freedom Dividend, a universal basic income of $1,000 to every American adult, coupled with a value-added tax on large corporations. He trusts the Freedom Dividend will help people survive as automation and technology keep creating mass unemployment in the future. Second is Medicare for all as a public option. Yang thinks that allowing Medicare for all who want it will lower healthcare costs and improve quality and wellness. Third is human-centered capitalism, replacing gross domestic product with national wellbeing measures. Yang believes human-centered capitalism will push America to focus on real important statistics like life expectancy, family and small business success, and overall happiness. In total, Yang boasts around 100 policy proposals, some lofty and others mundane. He is truly the policy wonk of this election cycle.</p><p class='black-text'>Yang is off to a <a href="https://qz.com/1627154/andrew-yang-is-the-silicon-valley-candidate-stealing-trumps-playbook/">good start</a>, as he has qualified for the first two primary debates and enjoys over $2 million raised from 125,000 individual donors. But he faces two major obstacles going forward. First, he needs to explain why his somewhat regressive Freedom Dividend and VAT program, which incentivizes welfare recipients to give up some benefits, is better than conventional social democracy that aids the poor and middle class most. Second, he runs the risk of alienating both progressives and conservatives. Progressives could be repelled by his lack of support for free public college and a $15 minimum wage, while conservatives might be discouraged by his support for reproductive rights and the Green New Deal. Still, Yang has awesome upside potential and appeal among young voters and across the ideological spectrum. He would be a strong challenger to Trump in 2020.</p> http://www.pws.io/andrew-yang-is-the-dark-horse Thu, 27 Jun 2019 11:56:04 -0400 Eric Yao Blockchain & Cryptocurrency Week of June 23 in Review http://www.pws.io/blockchain-cryptocurrency-week-of-june-23-in-review <p class='black-text'>The third week of June has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that Facebook <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> announced the official launch of its stablecoin endeavor named <a href="https://libra.org/en-US/">Project Libra</a>, meant to help the world's unbanked consumers. The tech giant released its website and white paper and revealed the finance and tech firms that have already partnered with Libra. Although Wall Street analysts like Jim Cramer generally praised the stablecoin move, other people are not so convinced. The crypto community made fun of Libra, calling it a joke and fraud. US members of Congress from both parties criticized Facebook's proposal. European regulators and lawmakers called for more scrutiny. Still, Facebook stock rose nearly 4% this week on Libra optimism.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'>Blockchain firm <a href="https://www.cnbc.com/2019/06/18/blockchain-startup-ripple-buys-30-million-stake-in-moneygram.html">Ripple Labs</a> bought $30 million worth of shares and warrants in MoneyGram International <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MGI"><span style="color:#333">(</span><span style=";">MGI</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MGI" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MGI" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MGI" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, as the two firms partner to use the Ripple token (XRP) and other products for cross-border payments and foreign exchange settlement. Ripple bought MoneyGram's stock at $4.10 per share. Ripple can also buy more common stock or warrants for up to $20 million at a minimum price of $4.10 per share. The partnership will initially last for two years. Shares of MoneyGram briefly surged 77% to $2.56 on the news. MoneyGram chief executive Alex Holmes said the partnership will allow MoneyGram to instantly settle funds from US dollars (USD) to other currencies on a real-time basis.</p><p class='black-text'><a href="https://cointelegraph.com/news/metlifes-lumenlab-using-blockchain-to-automate-life-insurance-claims">MetLife </a><nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MET"><span style="color:#333">(</span><span style=";">MET</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MET" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MET" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MET" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> subsidiary LumenLab is using blockchain technology to automate life insurance claims. Known as "Lifechain," the LumenLab collaboration with Singapore Press Holdings and NTUC Income will let bereaved families who place obituaries in a newspaper to instantly search to see if their loved one had a life insurance policy. The technology works by submitting the deceased's National Registration Identity Card to Lifechain as hashed data after consent from the family has been obtained. A thousand policyholders will be randomly selected to take part in a pilot program this month. Insurance firms are increasingly experimenting with and investing in blockchain tech applications.</p><p class='black-text'>Crypto prices surged this week to $325 billion, thanks to bullish sentiment from Bitcoin's (BTC) final break above $10,500 and Ethereum's (ETH) breach of $300. For the majors, Bitcoin and Binance Coin (BNB) led the outsized gains, while only Tether (USDT) fell into the red. In the top 100, the biggest losers were SOLVE (SOLVE), down 18%, Waltonchain (WTC), down 15%, and Zilliqa (ZIL), down 14%. The biggest gainers were Egretia (EGT), up a whopping 62%, EDUCare (EKT), up 48%, and Insight Chain (INB), up 47%. Next week traders will see if Bitcoin can top $11,000 and continue the recent bull run.</p><p class='black-text'><i>The author owns a small amount of BTC.</i></p> http://www.pws.io/blockchain-cryptocurrency-week-of-june-23-in-review Sun, 23 Jun 2019 20:00:07 -0400 Eric Yao Blockchain & Crypto Week of June 16 in Review http://www.pws.io/blockchain-crypto-week-of-june-16-in-review <p class='black-text'>The second week of June has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that <a href="https://blog.circle.com/2019/06/13/circle-to-sunset-payment-app-continue-advancing-vision-of-crypto-based-payment-solutions-using-fiat-tokens/">Circle </a>announced it will soon discontinue its mobile app Circle Pay. On Thursday the fintech firm said it will start winding down the payment app and finish the closure on September 30. The news came on the same day that CENTRE, the blockchain consortium created by Circle and Coinbase, began seeking new members. The Circle Pay app was created in 2014 as a Bitcoin (BTC) and US dollar digital wallet with peer-to-peer payments. Users could fund and accept transactions for free with US debit cards and bank accounts. Circle is shuttering Circle Pay in order to focus more on its USDC stablecoin project with Coinbase and other partners.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'><a href="https://www.coindesk.com/us-state-of-nevada-passes-flurry-of-blockchain-bills">Nevada </a>passed regulatory sandbox legislation aimed at continuing blockchain investments and entrepreneurial efforts in the state. The 4 new bills augment bills passed in February designed to promote blockchain adoption, in order to support the continued growth of financial technology and blockchain. The new bills create a definition for public blockchain and requires government agencies to accept electronically certified documents, including on a blockchain. They also authorize firms to store and maintain corporate records on a blockchain. Finally, they classify virtual currencies as intangible personal property and exempt from personal property taxation.</p><p class='black-text'><a href="https://www.coindesk.com/crypterium-introduces-global-crypto-payments-card">Crypterium</a>, a fintech startup in Estonia, launched the Crypterium Card, the first global cryptocurrency card. The firm will expand services to the UK and six more European countries. The card is linked to the Crypterium App, which has over 500,000 US and UK users. As a prepaid debit card, the Crypterium Card can be used anywhere UnionPay is accepted. Customers can order the card online and receive it in just 3 days. The card allows users to buy goods with Bitcoin, Ethereum (ETH), and Litecoin (LTC), but it charges a 1.5% reloading fee. Crypterium hopes to expand card service to the US, South America, and Southeast Asia, where interest in the crypto card is highest.</p><p class='black-text'>Crypto prices rebounded convincingly to above $181 billion, regaining the market cap lost last week. For the majors, all were green except Tether (USDT), with Litecoin, Bitcoin, and Cardano (ADA) leading the gains. In the top 100, the biggest losers were Waltonchain (WTC), down 10%, MaidSafeCoin (MAID), down 8%, and MonaCoin (MONA), down 8%. The biggest gainers were Energi (NRG), up a whopping 71%, Chainlink (LINK), up 57%, and Egretia (EGT), up 50%. Next week traders will watch to see if Bitcoin holds the key $9,000 level.</p><p class='black-text'><i>The author owns a small amount of BTC and LTC.</i></p> http://www.pws.io/blockchain-crypto-week-of-june-16-in-review Mon, 17 Jun 2019 03:21:09 -0400 Eric Yao Stock markets break win streak. http://www.pws.io/stock-markets-break-win-streak <p class='black-text'>The markets were lower today which many technical traders noted as expected due to the recent string of strong, positive days. The Dow 30 closed lower on the day by 14, the S&P 500 sold off 1 and the Nasdaq closed the day lower by 1 as tech stocks took a much needed breather. Given the sharp bounce off lows and no real geopolitical or corporate news to focus on investors were content to take some profit.</p><p class='black-text'>The tech sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLK"><span style="color:#333">(</span><span style=";">XLK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was one area that has been over extended in the short term which pulled back from highs today. Many tech stocks that saw sharp rallies off their lows also took the day off which held the broad markets back. Semiconductors <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SMH"><span style="color:#333">(</span><span style=";">SMH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SMH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SMH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SMH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> were also in the mix of stocks that took the day off as well.</p><p class='black-text'>As for individual stocks, recent IPO Beyond Meats <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BYND"><span style="color:#333">(</span><span style=";">BYND</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BYND" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BYND" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BYND" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was back in focus today as it fell over 20%. The stock has been on a strong run recently but a downgrade from JP Morgan <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JPM"><span style="color:#333">(</span><span style=";">JPM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JPM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JPM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JPM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> which admitted that the stock was well over valued as of yesterday's highs caused investors to pull the plug in the short term.</p><p class='black-text'>Investors are also looking forward to Tesla's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TSLA"><span style="color:#333">(</span><span style=";">TSLA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TSLA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TSLA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TSLA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shareholder meeting which kicks off later today. Investors will be looking towards comments from CEO, Elon Musk about financial and delivery concerns for the rest of the year.</p><p class='black-text'>Tomorrow we have earnings from a few retailers. Lululemon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LULU"><span style="color:#333">(</span><span style=";">LULU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LULU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LULU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="LULU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> will report after the close along with high end furniture retailer Restoration Hardware <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RH"><span style="color:#333">(</span><span style=";">RH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="RH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> Investors are expecting to hear more about any tariff issues that Restoration Hardware is experiencing.</p> http://www.pws.io/stock-markets-break-win-streak Tue, 11 Jun 2019 14:58:44 -0400 Dustin Tibbitts Blockchain & Crypto Week of June 9 in Review http://www.pws.io/blockchain-crypto-week-of-june-9-in-review <p class='black-text'>The first week of June has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that the <a href="https://www.coindesk.com/the-sec-is-suing-kik-for-its-2017-ico">US Securities and Exchange Commission</a> (SEC) filed suit against Kik for conducting an unregistered securities sale in its 2017 initial coin offering (ICO). In a filing submitted Tuesday, the SEC wrote that Kik violated Section 5 of the Securities Act of 1933, which requires the registration of offerings. For many years, Kik had lost money on its sole product, an online messaging application, and the company predicted internally that it would run out of money by 2017. So Kik sold its Kin (KIN) tokens to the public and accredited investors for a discount, raising more than $55 million from US investors. Last month, Kik CEO Ted Livingston launched a $5 million "Defend Crypto" crowdfunding campaign to fund a potential lawsuit. The price of Kin plunged over 25% on the lawsuit news.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'><a href="https://cointelegraph.com/news/report-nearly-10-million-in-xrp-stolen-in-gatehub-hack">Hackers </a>reportedly stole almost $10 million worth of Ripple (XRP) tokens from GateHub, a British cryptocurrency wallet service. GateHub revealed the security incident with a statement on June 6. GateHub said it was told by some of customers and community members that funds on their wallets had been stolen. The company estimated that hackers managed to compromise around 100 XRP Ledger wallets and steal 23.2 million XRP from around 85 victims. The hackers have already tried to launder or convert half of the stolen Ripple tokens with mixing services, dark web transactions, and exchange trades. GateHub started an investigation into the attack, but it is unlikely that the victims will be able to recover their entire losses.</p><p class='black-text'>The <a href="https://www.coindesk.com/us-senate-confirms-new-cftc-chair-to-succeed-crypto-dad-giancarlo">US Senate </a>is confirming Heath Tarbert as the new chairman of the Commodity Futures Trading Commission (CFTC), which regulates derivates, digital assets, and over-the-counter trading. The CFTC selected Tarbert to replace outgoing head J. Christopher Giancarlo, affectionally known in the crypto community as "crypto dad." Under Giancarlo's tenure, the CFTC has pursued a light-handed regulatory approach toward the cryptocurrency sector in the name of financial modernization. Tarbert, who served as Acting Under Secretary for International Affairs and Assistant Secretary for International Markets, will take over the CFTC after July 15.</p><p class='black-text'>Crypto prices corrected this week to under $245 billion due to strong selling at resistance levels of Bitcoin (BTC). For the majors, EOS, Bitcoin Cash (BCH), and Ethereum (ETH) fell by double digits, while Litecoin (LTC) made slight gains. In the top 100, the biggest losers were Factom (FCT), down 29%, BitTorrent (BTT), down 26%, and MonaCoin (MONA), down 24%. The biggest gainers were GXChain (GXC), up a whopping 109%, HedgeTrade (HEDG), up 39%, and HyperCash (HC), up 29%. Next week traders will watch for a bounce from the $250 billion level.</p><p class='black-text'><i>The author owns a small amount of BTC and LTC.</i></p> http://www.pws.io/blockchain-crypto-week-of-june-9-in-review Tue, 11 Jun 2019 03:01:18 -0400 Eric Yao Stock market starts week with more green. http://www.pws.io/stock-market-starts-week-with-more-green <p class='black-text'>The markets shot higher to start the week though investors noted how they closed off their highs of the session. The Dow 30 closed higher on the day by 77, the S&P 500 added 13 and the Nasdaq closed higher on the day by 81. The excitement came from the announcement that the U.S. had reached a deal with Mexico which would avoid the Trump tariffs going into effect today.</p><p class='black-text'>The Mexican ETF <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/EWW"><span style="color:#333">(</span><span style=";">EWW</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="EWW" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="EWW" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="EWW" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> had a strong day on the news. The popular ETF returned back to the 200 day moving average which was about 1% higher than where it was prior to the tariff announcement hit.</p><p class='black-text'>Bonds pulled back today sending interest rates higher after a long a sharp decline over the last few weeks. This held back the already over bought Utility <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLU"><span style="color:#333">(</span><span style=";">XLU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> sector as well as REIT's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FREL"><span style="color:#333">(</span><span style=";">FREL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FREL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FREL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FREL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> which were also lower on the day.</p><p class='black-text'>In the world of individual stocks the media was focused on an announcement of a merger between two aerospace giants Raytheon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RTN"><span style="color:#333">(</span><span style=";">RTN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RTN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RTN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="RTN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and United Technologies <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UTX"><span style="color:#333">(</span><span style=";">UTX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UTX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UTX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UTX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. Technical traders note the breakout on this news in Raytheon as the stock moved above the entire years range.</p><p class='black-text'>In other news Beyond Meats <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BYND"><span style="color:#333">(</span><span style=";">BYND</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BYND" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BYND" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BYND" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares soared to new highs today, at one point trading nearly 100% higher in just the last two trading days. With a $10 billion valuation, Wall Street analysts are having a hard time keeping up with the projections for this new IPO.</p> http://www.pws.io/stock-market-starts-week-with-more-green Mon, 10 Jun 2019 15:12:16 -0400 Dustin Tibbitts Seth Moulton, Tim Ryan, & Eric Swalwell Answer CNN Town Halls http://www.pws.io/seth-moulton-tim-ryan-eric-swalwell-answer-cnn-town-halls <p class='black-text'>On Sunday, <a href="https://www.cnn.com/politics/live-news/moulton-ryan-swalwell-town-hall-june-2019/index.html">CNN </a>hosted town halls for 3 Democratic presidential candidates in Atlanta, Georgia, as part of an effort to allow 3 relatively unknown contenders a chance to pitch themselves to the American people and attract a broader voter base. Representative <a href="https://sethmoulton.com/">Seth Moulton</a> of Massachusetts answered questions at the first town hall moderated by Victor Blackwell. Moulton started by outlining how his gun control platform could have presented the Virginia mass shooting from Friday. He supports bans on high-capacity magazines, suppressors, and semiautomatic assault weapons, and wants extra gun purchase scrutiny. Then he argued that Congress should impeach President Donald Trump and do the right thing. He also laid out his mental health plan of mandatory checkups for veterans and high schoolers and a dedicated hotline for private help. He added he is for equal justice under law for all races. For healthcare, he said he is skeptical of Medicare for all but wants a public option. Moulton concluded by saying he is running in order to unite Americans over shared values and desire to make America better.</p><p class='black-text'>Representative <a href="https://timryanforamerica.com/">Tim Ryan </a>of Ohio answered questions at the second town hall moderated by Poppy Harlow. First, he called for the National Rifle Association to support gun reform but did not offer specific proposals. He criticized US trade and tax policy for giving companies incentives to outsource jobs overseas. On climate change, he proposed fighting climate change with a jobs program by boosting the solar, battery, and electric vehicle markets. He also came out in support of impeachment of Trump for obstruction of justice as described in the Mueller report. He cited trade as a top 2020 issue and castigated Trump's trade war for not having a strategy. Finally, Ryan also said he supports a healthcare public option that allows people to buy into a government program like Medicare if they want.</p><p class='black-text'>Representative <a href="https://ericswalwell.com/">Eric Swalwell</a> of California answered questions at the third town hall moderated by Jim Sciutto. First, he promised in the first 100 days to protect America's elections from foreign interference and restore trust with global allies. He cautioned against impeachment of Trump, saying Congress should first exhaust every other remedy. He added he will implement a mandatory national assault weapons buyback based on Australia's program. Unlike the other two, he came out in support of Medicare for all, as long as people can choose private insurance if they want. He also proposed a plan to help graduates pay off their student debt. Swalwell concluded by showing a vial of insulin and calling for public investments to research cheaper cures.</p><p class='black-text'>Although <a href="https://www.cnn.com/2019/06/02/opinions/2020-presidential-campaign-return-town-hall-rabinowitz/index.html">Moulton, Ryan, and Swalwell </a>all answered questions well, garnered much applause, and gave the impression that they truly care about the American people, they still face an uphill battle in the Democratic primary race. First, they are relatively unknown political characters in a crowded primary with big names like Joe Biden, Bernie Sanders, and Elizabeth Warren. Second, they are all white men, at a time when diversity is more important to voters than ever. Third, history is not on their side. Only James Garfield has gone directly from sitting Congressman to President. Therefore, the three candidates will need outstanding performances at the upcoming debates in order to move on in the nomination battle.</p> http://www.pws.io/seth-moulton-tim-ryan-eric-swalwell-answer-cnn-town-halls Wed, 05 Jun 2019 15:01:00 -0400 Eric Yao Markets continue over sold rally. http://www.pws.io/markets-continue-over-sold-rally <p class='black-text'>The markets were higher again today as investors continue to cheer the comments from speeches of the 13 Fed members which all seem to be on the same page as far as considering easy policy should the economy slow. Yesterday the S&P 500 added over 2% and today continued that rally. The Dow 30 was higher by 207, the S&P 500 added another 22 and the Nasdaq closed higher by 48.</p><p class='black-text'>Tech stocks were a big focus today mostly because of Apple <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAPL"><span style="color:#333">(</span><span style=";">AAPL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAPL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAPL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAPL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. The stock was higher today as the CEO, Tim Cook said they company has not been targeted in any way by China despite the trade war issues. Salesforce.com was also a bright spot today as well. Shares were higher on the day following strong earnings beat. The company has beat on earnings and revenue now for 13 straight quarters.</p><p class='black-text'>Oil continues to be aggressively selling off as inventory numbers came in sharply higher week over week. The price of crude has sold off over 30% from it's highs set back in April and in the short term is considered by technical traders to be oversold.</p><p class='black-text'>Utilities and Reits were two of the stronger areas of the markets today thanks to rates in general. The Utility sector <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLU"><span style="color:#333">(</span><span style=";">XLU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> hit new 52 week highs today and continues to be one of the stronger areas of the markets in general.</p><p class='black-text'>Tomorrow we have more Fed speak along with earnings from recent IPO BeyondMeats <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BYND"><span style="color:#333">(</span><span style=";">BYND</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BYND" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BYND" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BYND" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> among others. Investors will likely be glued to the first earnings report of BYND as there is a heavy short interest battling the cult like following of the Bulls.</p> http://www.pws.io/markets-continue-over-sold-rally Wed, 05 Jun 2019 14:41:06 -0400 Dustin Tibbitts Markets soar on Fed comments. http://www.pws.io/markets-soar-on-fed-comments <p class='black-text'>The markets shot higher today as the Federal Reserve came to the rescue. With 13 Fed members speaking this week many investors felt it was the prime opportunity for them to hint at a rate cut. Fed President Jerome Powell did just that with his comments that he would be open to easing monetary policy to support the market. This sent the Dow higher by 512 the S&P 500 gained 58 and the Nasdaq finished the day higher by 194, erasing yesterday's decline.</p><p class='black-text'>Now that earnings season is out of the way investors' attention has turned really back towards the Fed and trade. Tomorrow there are still 3 Fed members speaking as well as the release of the Beige book so it gives plenty for the markets to focus on.</p><p class='black-text'>Interest rates finally bounced today after a multi-week move to lows. The move did put a damper on real estate and utilities which each were down over 1% during the day.</p><p class='black-text'>Some of the better performing areas of the market today included the Semiconductors which had recently shown a slowdown in it's record sell off. The Semi's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SMH"><span style="color:#333">(</span><span style=";">SMH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SMH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SMH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SMH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> had fallen over 20% over the month of May but today were able to participate in the markets broad rally.</p><p class='black-text'>Transports <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/IYT"><span style="color:#333">(</span><span style=";">IYT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="IYT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="IYT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="IYT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> were also a bright spot today, recovering from their oversold position. The sector has been a notable weak spot, being one of the first to move below it's 200 day moving average in early May. Despite today's rally the sector is still down about 10% from highs of the year.</p><p class='black-text'>Some of the individual stocks in the news today include Tiffany <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TIF"><span style="color:#333">(</span><span style=";">TIF</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TIF" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TIF" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TIF" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> which reported earnings that came in better than expected but lower sales and a slowdown in sales from foerign tourists dragged on the days gains.</p><p class='black-text'>Cloud storage company Box <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BOX"><span style="color:#333">(</span><span style=";">BOX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BOX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BOX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BOX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares broke to new lows today despite the company reporting a smaller than expected loss. Shares moved lower initially on lower guidance for the full year on revenue.</p> http://www.pws.io/markets-soar-on-fed-comments Tue, 04 Jun 2019 14:20:13 -0400 Dustin Tibbitts Blockchain & Crypto Week of June 2 in Review http://www.pws.io/blockchain-crypto-week-of-june-2-in-review <p class='black-text'>The last week of May has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that <a href="https://www.coindesk.com/state-farm-usaa-to-use-blockchain-for-car-insurance-claims-by-end-of-year">State Farm and USAA</a> have partnered to test a blockchain for insurance claims payouts. The financial giants are working on developing a system inspired by JPMorgan's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JPM"><span style="color:#333">(</span><span style=";">JPM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JPM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JPM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JPM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> Quorum private enterprise blockchain. The nameless project features a ledger that aims to replace current methods of claims processing, especially subrogation, where one insurer pays bills to another insurer for a claim. State Farm and USAA hope to develop the unnamed project by the end of the year and eventually bring other firms on board.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'><a href="https://www.coindesk.com/block-one-is-launching-a-social-media-platform-on-the-eos-blockchain">Block.one</a>, the multibillion company behind the EOS cryptocurrency, has transitioned into the social media space. The firm announced in a glamorous Washington, DC event on Saturday that it wants to develop the Voice platform, a social media platform that will be both friendly and fair to users. Block.one said social media has not been a good friend to people, referring to the many Facebook <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> privacy scandals. Chief executive Brendan Blumer said that EOSIO wants to change the system and allow users to reap the rewards of social media. Voice will run on an upgraded EOS blockchain and will not be governed by impersonal algorithms that control the content users see.</p><p class='black-text'><a href="https://www.coindesk.com/collapsed-crypto-exchange-cryptopia-owes-creditors-2-7-million-say-liquidators">Cryptopia's liquidators </a>announced that the busted exchange now owes $2.74 million to its creditors. The defunct New Zealand exchange failed due to a major hack in January that resulted in the theft of Ethereum (ETH) and other tokens worth up to $16 million. Grant Thornton, the liquidator, revealed Cryptopia owes the money to both unpaid staff and secured and unsecured creditors like Dell <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DELL"><span style="color:#333">(</span><span style=";">DELL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DELL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DELL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DELL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. During liquidation, the exchange had around $700,000 in cash and other assets worth less than $300,000. Grant Thornton's report also says it is unclear how much Cryptopia owes to its customers and tax authorities.</p><p class='black-text'>Crypto prices jumped again this week to around $274 billion as Bitcoin (BTC) tried to break through and hold $9,000 before correcting lower. For the majors, Bitcoin SV (BSV), EOS, and Ripple (XRP) led the gains, while Binance Coin (BNB) and Tether (USDT) slipped into the red. In the top 100, the biggest losers were aelf (ELF), down 11%, Insight Chain (INB), down 9%, and Decentraland (MANA), down 7%. The biggest winners were MonaCoin (MONA), up a whopping 179%, Maximine Coin (MXM), up 90%, and Bitcoin SV, up 79%. Next week traders will watch if crypto can hold a market cap of $170 billion and if Bitcoin can move to top $9,000 again.</p><p class='black-text'><i>The author owns a small amount of BTC.</i></p> http://www.pws.io/blockchain-crypto-week-of-june-2-in-review Mon, 03 Jun 2019 07:56:44 -0400 Eric Yao Market stages late day rally. Closes positive. http://www.pws.io/market-stages-late-day-rally-closes-positive <p class='black-text'>The market was lower again today but traded back into the green by the close as investors continue to watch the bond market and China mostly hold back stocks. The Dow 30 was higher on the day by 44, the S&P 500 was able to gain 5 and the Nasdaq closed the day higher by 20. Economic numbers were mostly negative though GDP numbers ticked higher to 3.1%. Wholesale inventories ticked higher which put a damper on the GDP numbers.</p><p class='black-text'>Investors continue to flock to the bond markets which sent yields to new lows on the year again. The 3 month remains inverted to the 10 year which, along with generally lower rates has hurt the banking stocks in the short term. The Regional Banks <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/KRE"><span style="color:#333">(</span><span style=";">KRE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="KRE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="KRE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="KRE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> in particular have been hit the hardest and remain in a downtrend. The larger banks <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLF"><span style="color:#333">(</span><span style=";">XLF</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLF" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLF" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLF" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also suffered losses today that puts it near lows for the month.</p><p class='black-text'>Barring any last minute rally the S&P 500 has sold off all month long, giving back about 6% of the nearly 20% gains it's posted already this year. Most of the attention continues to be on the increasing tough talk out of China and their decision to hold off on buying Soy from the U.S.</p><p class='black-text'>As for individual stocks, Dollar Tree <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DLTR"><span style="color:#333">(</span><span style=";">DLTR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DLTR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DLTR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DLTR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Dollar General <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DG"><span style="color:#333">(</span><span style=";">DG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DG" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> both reported earnings today and enjoyed strong gains off their efforts. Dollar tree saw better than expected store sales and beat on revenues. Dollar General reported a strong earnings season as well which sent shares up to new highs on the year.</p><p class='black-text'>PVH <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PVH"><span style="color:#333">(</span><span style=";">PVH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PVH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PVH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="PVH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares suffered a double digit loss today, adding to it's already strong selloff as the company lowered guidance for 2019. The parent company of Tommy Hilfiger and Calvin Klein cited the trade was as a major concern.</p><p class='black-text'>Tomorrow the month and week will come to a close with PMI numbers as well as earnings from one more retailer, Big Lots <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BIG"><span style="color:#333">(</span><span style=";">BIG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BIG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BIG" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BIG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> which will report before the open.</p> http://www.pws.io/market-stages-late-day-rally-closes-positive Thu, 30 May 2019 15:37:47 -0400 Dustin Tibbitts Kirsten Gillibrand is the Reproductive Hero http://www.pws.io/kirsten-gillibrand-is-the-reproductive-hero <p class='black-text'>On March 17, Senator Kirsten Gillibrand (D-NY) <a href="https://kirstengillibrand.com/">officially announced</a> she is running for the Democratic nomination for US president in 2020, joining a crowded primary field as a big name from a populous state. But despite many mainstream media appearances and a platform designed to appeal to the Democratic base, Gillibrand's campaign has so far been wracked with mediocrity and boringness. She still struggles to break above 1% in nearly all polls, and she finds it harder to stand out as more candidates declare before summer. However, in recent weeks Gillibrand has rebranded herself into a reproductive rights hero, and the messaging shift could save her campaign.</p><p class='black-text'><a href="https://www.businessinsider.com/who-is-kirsten-gillibrand-bio-age-family-key-positions-2019-3">Gillibrand </a>was born as Kirsten Elizabeth Rutnik in 1966 to an upper-middle class family in Albany, New York. She attended Dartmouth College and majored in Asian studies. Then she attended UCLA Law School and became an attorney in 1991. She started at Davis Polk & Wardwell as an associate before making partner at Boies, Schiller & Flexner, where she did pro bono work defending abused women and children. She married her husband Jonathan in 2001. In 2006, Gillibrand narrowly won a House seat and served until 2009, when Governor Paterson appointed her to fill Hillary Clinton's vacant Senate seat. She won reelection in 2010, 2012, and 2018. As a Senator, Gillibrand serves on the Armed Services, Environment and Public Works, Agriculture, Nutrition, and Forestry, and Aging Committees.</p><p class='black-text'>Her presidential campaign leans leftward and pays tribute to progressive vanguards like Senators Bernie Sanders (I-VT) and Elizabeth Warren (D-MA). Like many Democrats, Gillibrand supports environmental protection, Medicare for all, public education investment, immigration, criminal justice, and election reform, and removing dark money from the political system. But with the recent rise of conservative states passing restrictive and likely illegal anti-abortion laws, Gillibrand has championed herself as a reproductive rights hero. She unveiled a <a href="https://medium.com/team-gillibrand/protecting-reproductive-rights-requires-a-real-proactive-agenda-heres-mine-671c4bfdb1de">reproductive rights agenda</a> that calls for expanding access to women's healthcare and family planning and nominating only pro-choice judges. She also proposed a <a href="https://medium.com/team-gillibrand/the-family-bill-of-rights-a-new-economic-policy-for-my-first-100-days-in-office-ea2152f00f23">Family Bill of Rights</a> that includes the rights to a safe and healthy pregnancy, to give birth or adopt, to a safe and affordable nursery, to national paid family and medical leave, and to affordable childcare and early education. Her plan would levy a financial transactions tax of up to $800 billion over a decade to help defray the cost.</p><p class='black-text'>Gillibrand faces challenges as she reminds people of Hillary Clinton and had a conservative House voting record. Though Gillibrand is struggling to gain traction now, the increasingly heated reproductive rights battleground could help her surge in popularity. Her rebranding as a reproductive rights hero is most likely to attract women, pro-choice advocates, and families with young children. If Gillibrand can leverage her new unique identity and platform to gain in the polls around the first primary debates of the summer, then she has a decent chance of surviving to possibly face President Donald Trump next year.</p> http://www.pws.io/kirsten-gillibrand-is-the-reproductive-hero Thu, 30 May 2019 09:48:35 -0400 Eric Yao Stock market continues lower. http://www.pws.io/stock-market-continues-lower <p class='black-text'>The markets were lower again today though they did close off their lows of the session. Investors responded to more Chinese comments that seem to suggest there is no promise of a trade deal anytime soon. The Dow 30 closed down 224 the S&P 500 sold off 19, closing above the 200 day moving average, and the Nasdaq closed the day lower by 60.</p><p class='black-text'>In addition to the Chinese tough talk, bond yields fell again today which prompted Morgan Stanley to suggest that the inversion has now hit a point where recession is now headed for the U.S. economy.</p><p class='black-text'>Retail was one area of the market that was hit the hardest (and has been hit the hardest) as more and more retailers miss earnings expectations at the tail end of earnings season. Capri Holdings <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CPRI"><span style="color:#333">(</span><span style=";">CPRI</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CPRI" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CPRI" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CPRI" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> which is the parent company of Michael Kors shares broke to new 52 week lows on lowered guidance. Dicks Sporting Goods <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DKS"><span style="color:#333">(</span><span style=";">DKS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DKS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DKS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DKS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were also weak on the day after their earnings results did not include any tariff assumptions in it.</p><p class='black-text'>Consumer staples <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLP"><span style="color:#333">(</span><span style=";">XLP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> had yet another day of weakness following the sort of surprise selloff yesterday. Typically this sector can weather any talk of economic weakness but yesterday showed it is not immune either. The sector has now fallen almost 4% in just two weeks.</p><p class='black-text'>Tomorrow, investors will look at a few more earnings releases from retailers like Dollar General <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DG"><span style="color:#333">(</span><span style=";">DG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DG" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Dollar Tree <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DLTR"><span style="color:#333">(</span><span style=";">DLTR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DLTR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DLTR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DLTR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Costco <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/COST"><span style="color:#333">(</span><span style=";">COST</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="COST" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="COST" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="COST" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Ulta Beauty <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ULTA"><span style="color:#333">(</span><span style=";">ULTA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ULTA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ULTA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ULTA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. Expect there to be plenty of focus around the first earnings announcement from Uber <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UBER"><span style="color:#333">(</span><span style=";">UBER</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UBER" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UBER" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UBER" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> since going public as well. The CEO commented overnight that the company will not likely be profitable this year or next. Wall Street expects them to show a loss of $1.49 per share.</p> http://www.pws.io/stock-market-continues-lower Wed, 29 May 2019 14:41:29 -0400 Dustin Tibbitts Markets bleed lower to start week. http://www.pws.io/markets-bleed-lower-to-start-week <p class='black-text'>The markets sold off again today after starting the shortened holiday week in the green. The Dow 30 closed lower on the day by 238, the S&P 500 sold off 23, and the Nasdaq closed down 29. Investors focused on comments from Trump stating that the U.S. is "not ready" to make an official trade deal with China and hinted again that tariffs could be placed on the remaining imported goods from China.</p><p class='black-text'>Over the weekend there were numerous Chinese media outlets that aired the commentary that they would never give in to U.S. demands to change the way they operate their economy. This further left investors feeling that the trade war is going to be a much longer issue for the U.S.</p><p class='black-text'>Interest rates hit lows on this news as investors moved into the safety trade. The lower rates held back the banking stocks <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLF"><span style="color:#333">(</span><span style=";">XLF</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLF" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLF" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XLF" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> which continue to flirt with breaking under the 200 day moving average.</p><p class='black-text'>As for individual stocks, recent IPO, Beyond Meats <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BYND"><span style="color:#333">(</span><span style=";">BYND</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BYND" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BYND" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BYND" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> got a boost from Wall Street today thanks to a $97 price target by JP Morgan <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JPM"><span style="color:#333">(</span><span style=";">JPM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JPM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JPM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JPM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and an announcement from the company that they will start producing their plant based meats in Europe next year. Shares enjoyed a double digit gain on the news and have performed steadily since their IPO earlier this month.</p><p class='black-text'>In the chip space Advanced Micro Devices <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMD"><span style="color:#333">(</span><span style=";">AMD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares popped over 10% today as the company announced a host of new chips coming this summer. Wall Street was quick to upgrade the stock on the news which sent shares back towards highs of the year.</p><p class='black-text'>This week is rather light on the economic calendar which is typical given the shortened holiday week. The IPO markets are also fairly quiet as well.</p> http://www.pws.io/markets-bleed-lower-to-start-week Wed, 29 May 2019 03:46:58 -0400 Dustin Tibbitts Blockchain & Crypto Week of May 26 in Review http://www.pws.io/blockchain-crypto-week-of-may-26-in-review <p class='black-text'>The fourth week of May has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that <a href="https://www.coindesk.com/att-teams-with-bitpay-to-accept-bill-payments-in-crypto">AT&T </a><nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/T"><span style="color:#333">(</span><span style=";">T</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="T" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="T" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="T" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> announced it is partnering with payment processor BitPay in order to accept bill payments in the form of cryptocurrency. Customers will be able to use cryptocurrency to pay their monthly telephone bills, but not to buy phones or other devices yet. AT&T vice president Kevin McDorman said that the firm wants to keep customers happy by offering them a new preferred payment option. The crypto community believes the telecom giant's move is another example of growing mainstream adoption.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'><a href="https://www.coindesk.com/swiss-watchmaker-franck-muller-launches-functional-bitcoin-timepiece">Franck Muller</a> launched a new limited edition timepiece named "Encrypto," marketed as the world's first function Bitcoin (BTC) watch. The Swiss luxury watchmaker debuted the product in partnership with Regal Assets, a crypto trading platform. The Bitcoin watch will feature a laser-etched QR code of a public wallet address that accepts deposits and include a sealed USB drive that stores the private key. The watch's cold storage wallet reportedly features offline generated, non-deterministic true random number generators that are near impossible to hack. Franck Muller aims to sell at most 1,000 watches, each for a price of between $10,000 and $60,000, depending on the precious metals and diamonds in the frame. Franck Muller is researching timepiece models featuring other top five coins.</p><p class='black-text'><a href="https://www.cnbc.com/2019/05/24/former-hedge-fund-manager-michael-novogratz-says-america-needs-redistribution-of-wealth.html?&qsearchterm=novogratz">Mike Novogratz</a> came out as a progressive and called for redistribution of wealth. The former Goldman Sachs <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GS"><span style="color:#333">(</span><span style=";">GS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Fortress hedge fund manager, known for his bullish investments in coins like Ethereum (ETH) and founding of cryptocurrency bank Galaxy Digital, told CNBC's "Squawk Box" on Friday that capitalism's inequality must be addressed. Novogratz said he is open to a Wall Street transaction tax, which would also apply to crypto trades. He said he agrees with hedge fund titan Ray Dalio that capitalism is not currently working for most people and thus requires a moral revolution in business. His main concerns are the rising income gap and a lack of public education investment.</p><p class='black-text'>Crypto prices dipped slightly and then rose to end the week at around $250 billion. For the majors, Binance Coin (BNB), Litecoin (LTC), and Bitcoin led the gains, while Stellar (XLM), Cardano (ADA), and Ripple (XRP) slipped into the red. In the top 100, the biggest losers were Insight Chain (INB), down 19%, Cosmos (ATOM), down 13%, and Tezos (XTZ), down 13%. The biggest gainers were Theta Fuel (TFUEL), up a whopping 143%, Bitcoin SV (BSV), up 65%, and Matic Network (MATIC), up 39%. Next week traders will watch if crypto can hold the key $250 billion level or fall into a correction.</p><p class='black-text'><i>The author owns a small amount of BTC, LTC, and T.</i></p> http://www.pws.io/blockchain-crypto-week-of-may-26-in-review Sun, 26 May 2019 22:52:34 -0400 Eric Yao Holiday IPO week. http://www.pws.io/holiday-ipo-week <p class='black-text'>This week will be a quiet one for new listings as is typical for the Memorial Day holiday. There are two names on the calendar but don't let that fool you about the potential excitement over the summer.</p><p class='black-text'>There are also a few names that are in the pending stages and could technically IPO at any point, including this week. The most notable name that could launch is Chewy.com <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CHWY"><span style="color:#333">(</span><span style=";">CHWY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CHWY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CHWY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CHWY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, PetsMarts online division which has been getting more and more attention due to its rapid growth.</p><p class='black-text'>The first offering of the week, and the largest is GigCapital2 <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GIG.U"><span style="color:#333">(</span><span style=";">GIG.U</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GIG.U" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GIG.U" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GIG.U" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. This is a blank check company looking for $130 million to continue it's acquisition run. Earlier this year the company acquired cloud company Kaleyra and is looking towards another acquisition in the space. They will offer 13 million shares at $10.</p><p class='black-text'>The other offering of the week is also a blank check company. Proficient Alpha Acquisition <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PAACU"><span style="color:#333">(</span><span style=";">PAACU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PAACU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PAACU" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="PAACU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is looking to raise $100 million by offering 10 million shares at $10. They hope to raise the money to buy a Chinese based financial firm.</p><p class='black-text'>Though this week is holiday shortened it has not changed any projections from IPO analysts as for the level of action still expected over the summer and for the rest of the year.</p> http://www.pws.io/holiday-ipo-week Sun, 26 May 2019 22:24:20 -0400 Dustin Tibbitts