Passport to Wall Street http://www.pws.io/ pl-PL Copyright 2019, Passport to Wall Street 60 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="//images.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 Markets finish out another losing week. http://www.pws.io/markets-finish-out-another-losing-week <p class='black-text'>The markets were slightly higher today as investors got a small tease from President Trump saying that the ongoing trade war could be over quickly. This helped spur a small bounce in the morning which was able to hold into the close despite an intra-day drop to flat. The Dow 30 closed the day higher 95, the S&P 500 added 3 and the Nasdaq closed the day higher by 8.</p><p class='black-text'>Next week starts with a holiday as the markets are closed on Monday for Memorial Day. Tuesday we get the latest consumer confidence numbers which investors will be looking closely at considering the impressive beat from last month. There will also be earnings Tuesday morning from tech company's Momo <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MOMO"><span style="color:#333">(</span><span style=";">MOMO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MOMO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MOMO" 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="MOMO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and WorkDay <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WDAY"><span style="color:#333">(</span><span style=";">WDAY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WDAY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WDAY" 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="WDAY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>Oil saw a small recovery today with a gain of 1.2% but came nowhere near erasing the losses seen this week. Over the week Crude has fallen over 8%, entering what many technical traders can now start to consider a new downtrend.</p><p class='black-text'>REIT's and Utilities hit new 52 week highs today, continuing their near week long rally. The two sectors have enjoyed the decline in long bond yields this week and continue to be rather strong sectors.</p><p class='black-text'>Earnings wise there were a few names that stood out today. 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> shares plummeted nearly 20% on a triple whammy of lower sales, earnings, and revenue than Wall Street expected. Another retailer, Buckle <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BKE"><span style="color:#333">(</span><span style=";">BKE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BKE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BKE" 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="BKE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares also suffered a loss today as they two missed on sales and earnings expectations. Finally, Intuit <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/INTU"><span style="color:#333">(</span><span style=";">INTU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="INTU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="INTU" 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="INTU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares popped on an earnings beat that was much wider than expectations. Revenue was also strong and the company raised guidance which helped fuel the rally.</p> http://www.pws.io/markets-finish-out-another-losing-week Fri, 24 May 2019 21:07:01 -0400 Dustin Tibbitts Markets sharply lower ahead of holiday weekend. http://www.pws.io/markets-sharply-lower-ahead-of-holiday-weekend <p class='black-text'>The markets sold off aggressively today as investors become more and more concerned that the trade war is something that won't be coming to a resolution any time soon. In addition to this there was more news of new companies that will be discontinuing business with Chinese phone maker Huawei.</p><p class='black-text'>The Dow 30 sold off 286 points, the S&P 500 sold off 33 and the Nasdaq closed the day lower by 122. Investors noted the sharp uptick in treasury prices sending the 30 year yield back to lows for the year.</p><p class='black-text'>Sector wise the semiconductors continue to sell off, breaking below the 200 day moving average as investors take risk out of the sector on all this news. The sector is now lower by over 20% on the year. Utilities were one of the best performing sectors today and is the sector with the largest gain week over week. The <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> broke to new 52 week highs after being in a sideways range for 2 months.</p><p class='black-text'>BestBuy <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BBY"><span style="color:#333">(</span><span style=";">BBY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BBY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BBY" 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="BBY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares sold off hard today despite the company reporting earnings that were better than expected. Retail was one of the areas that continue to get hit on potential new tariffs from Washington.</p><p class='black-text'>Staying with the retail space, Limited Brands <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LB"><span style="color:#333">(</span><span style=";">LB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LB" 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="LB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares spiked today as the company beat earnings expectations. Investors also were bullish on the companies guidance which Limited Brands raised for the full year. Shares remain near lows but technical traders will note today's sharp move.</p><p class='black-text'>Going into Friday and a holiday weekend, it is hard to see why investors would want to put on risk with this brewing uncertainty.</p> http://www.pws.io/markets-sharply-lower-ahead-of-holiday-weekend Thu, 23 May 2019 14:30:39 -0400 Dustin Tibbitts ETF weekly update. http://www.pws.io/etf-weekly-update-1-2-3-4-5 <p class='black-text'>The markets have started the week continuing to recover from last weeks Monday decline. The S&P 500 <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" 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="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> finds itself about flat for the week, flirting with the 50 day moving average.</p><p class='black-text'>The Nasdaq 100 <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" 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="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has performed a little worse however as investors continue to price in the latest restrictions pending against Chinese phone manufacturer Huawei. Tech stocks have been held back which has held back the performance of the index.</p><p class='black-text'>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> sold off hard Monday but saw a recovery rally Tuesday partially on the news of easing restrictions on Huawei for now. Though China's largest phone maker was not happy with the decision it did help chip stocks recover from the recent price plunge. Technical traders will cited the support of the 200 day moving average along with the short term oversold condition of the sector.</p><p class='black-text'>Healthcare <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> hinted at some relative strength on Monday and since then has shown more strength. Technical traders are looking at a clear downtrend line as the next resistance area to ty and break through to help the underperforming sector. For the year this is the worst performing sector in the S&P 500.</p><p class='black-text'>Home Builders <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XHB"><span style="color:#333">(</span><span style=";">XHB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XHB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XHB" 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="XHB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> enjoyed some strength on reports of new home construction beating estimates for last month along with higher sentiment from builders about the state of the industry. One negative was single family home permits which fell to a new 3 year low which is used as a forecast for future construction numbers.</p><p class='black-text'>All in all investors are continuing to focus on trade war escalations with China as there seems to be no deal in sight. President Trump has said he plans to meet with President Xi at next week's G20 meeting though many are confident it will not lead to a deal. Best case it helps to start the negotiations again.</p> http://www.pws.io/etf-weekly-update-1-2-3-4-5 Wed, 22 May 2019 10:00:45 -0400 Dustin Tibbitts Stock market higher for a change... http://www.pws.io/stock-market-higher-for-a-change <p class='black-text'>The markets traded higher today following a temporary easing of restrictions on Huawei which gave investors confidence to put some risk on. The Dow 30 closed higher by 197 the S&P 500 gained 24 and the Nasdaq closed higher on the day by 83.</p><p class='black-text'>Existing home sales fall to an annualized rate of 5.19 million which came in below the 5.35 million expectations. The median home price was higher by 3.6% to $267,300 which is the highest ever reading for the month of April. The National Association of Realtors cited limits on tax deductions as the reason for slowing sales of homes on the higher end. Sales in the Western US were the only region to enjoy a pop in purchases.</p><p class='black-text'>Sector News</p><p class='black-text'>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> saw a recovery rally today partially on the news of easing restrictions on Huawei for now. Though China's largest phone maker was not happy with the decision it did help chip stocks recover from the recent price plunge. Technical traders will cited the support of the 200 day moving average along with the short term oversold condition of the sector.</p><p class='black-text'>Healthcare <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> hinted at some relative strength on Monday and since then has shown more strength. Technical traders are looking at a clear downtrend line as the next resistance area to ty and break through to help the underperforming sector. For the year this is the worst performing sector in the S&P 500.</p><p class='black-text'>Home Builders <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XHB"><span style="color:#333">(</span><span style=";">XHB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XHB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XHB" 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="XHB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> enjoyed some strength on reports of new home construction beating estimates for last month along with higher sentiment from builders about the state of the industry. One negative was single family home permits which fell to a new 3 year low which is used as a forecast for future construction numbers.</p><p class='black-text'>Stock News</p><p class='black-text'>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> shares were in the news today as Morgan Stanley <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MS"><span style="color:#333">(</span><span style=";">MS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MS" 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="MS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> said their worst case target for Tesla is now $10. The analyst firm currently has a price target of $230 but has a history of taking both sides with their "worst case" targets. The analyst says that they have concerns about profitability and Chinese demand which led them to lower their worst case target. Shares traded lower on the news but hovered around the $200 area.</p><p class='black-text'>Kohls <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/KSS"><span style="color:#333">(</span><span style=";">KSS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="KSS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="KSS" 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="KSS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares took a beating today as the company reported earnings that were lower than expected by 7 cents. Though revenue was just above expectations investors focused on sales which missed by a wide margin. Sales were expected to drop but only by 0.2%. The company reported a sales decline of 3.4% which caused them to guide lower for the rest of the year.</p><p class='black-text'>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> shares enjoyed a strong day today as the company reported earnings that easily beat expectations. Store sales continue to be on fire as well with year over year growth of 3.9%. This marks the 5th earnings beat in a row for the parts retailer.</p><p class='black-text'>JCPenney <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JCP"><span style="color:#333">(</span><span style=";">JCP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JCP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JCP" 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="JCP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were lower on the day following another disappointing earnings season. The company lost more than Wall Street expected thanks to more slowing sales than expected. Same store sales dropped 5.5% versus 4.2% expected leaving investors bearish.</p> http://www.pws.io/stock-market-higher-for-a-change Tue, 21 May 2019 16:55:34 -0400 Dustin Tibbitts Kamala Harris Is an Establishment Pick http://www.pws.io/kamala-harris-is-an-establishment-pick <p class='black-text'>On January 21, Senator Kamala Harris (D-CA) officially announced that she is running for the Democratic nomination for US president in 2020, putting months of speculation to rest. As one of the first candidates to announce, Harris has had a long time to prepare her <a href="https://kamalaharris.org/">campaign</a>, dominate the news cycle, and become the establishment pick. Yet despite her name recognition and <a href="https://www.axios.com/kamala-harris-2020-presidential-election-fundraising-first-quarter-9d963751-b229-4235-bf51-7ed344b42a61.html">fundraising </a>of $12 million from over 218,000 individual donors, Harris has been struggling in the polls compared to Senator Bernie Sanders (I-VT) and former Vice President Joe Biden.</p><p class='black-text'><a href="https://www.businessinsider.com/who-is-kamala-harris-bio-age-family-key-positions-2019-3">Harris </a>was born in 1964 to an Indian mother and Jamaican father in Oakland, California. She attended Howard University and studied political science and economics. Then she attended the University of California, Hastings College of the Law and became a lawyer in 1990. She served as Alameda County's deputy district attorney until 1998 and was elected as San Francisco's district attorney in 2003, where she served until 2011. In 2011, she ran for California Attorney General and won to become the state's first female top lawyer. Harris ran for the US Senate in 2016 and won. She currently serves as the junior Senator from California on the Budget, Intelligence, Judiciary, and Homeland Security Committees.</p><p class='black-text'>Harris is both moderate and liberal as a politician. She has a few signature <a href="https://www.pbs.org/newshour/politics/what-does-kamala-harris-believe-where-the-candidate-stands-on-9-issues">policy proposals</a>. First is her tax cut bill. The LIFT the Middle Class Act would enact a small universal basic income in the form of refundable tax credits for the poor and middle class. It would give couples earning $100,000 or less $6,000 a year and repeal part of the Republican tax cuts. Second is criminal justice reform. She supports cash bail reform, marijuana legalization, and ending the death penalty. Third is climate change. She supports the Green New Deal and wants to investigate oil giants for misleading the public with their research. On other issues, she holds standard liberal positions. She is pro-choice and supports LGBTQ rights. She wants an assault weapons ban. She opposes President Trump's foreign policy. She wants a humane immigration policy and protection for undocumented minors. She supports universal healthcare but is fine with either Medicare for all or a public option.</p><p class='black-text'>Harris's largest challenges are her <a href="https://www.nytimes.com/2019/02/11/us/kamala-harris-progressive-prosecutor.html">record </a>and popularity slump. Conservatives and center-right independents believe she is a far-left socialist due to her support for the Green New Deal, gun control, and immigration reform. Progressives point at her California record, where she charged poor black families with truancy and cracked down on sex workers, to say she is a bad centrist. So she is neither right enough for Republican-learning independents nor left enough for the Democratic Party's progressive base. Also, Harris is struggling to stay in the top 5 in polls with a crowded field of 22 candidates. Her identity as a female person of color should help in the primary, but she needs to do something before the first caucus to seem more exciting to voters.</p> http://www.pws.io/kamala-harris-is-an-establishment-pick Mon, 20 May 2019 11:04:45 -0400 Eric Yao Elizabeth Warren is the Policy Wonk http://www.pws.io/elizabeth-warren-is-the-policy-wonk <p class='black-text'>Senator <a href="https://elizabethwarren.com/">Elizabeth Warren </a>(D-MA) officially announced on February 9 that she is running for the Democratic nomination for US president in 2020, putting months of speculation to rest. As someone known for being a more progressive policy wonk, she needs to attract voters while being in between popular progressive firebrands like Senator Bernie Sanders (I-VT) and relative moderates like Mayor Pete Buttigieg. Warren's plan of releasing a new policy proposal nearly every week has succeeded in dominating the news cycle and supporting her poll numbers.</p><p class='black-text'><a href="https://www.businessinsider.com/who-is-elizabeth-warren-bio-age-family-key-positions-2019-3">Warren </a>was born in 1949 to a middle class family in Oklahoma City. She met her husband Jim Warren in high school. She attended the University of Houston and studied speech pathology and audiology. Then she attended Rutgers Law School and became a lawyer for a while. In 1978, she began her academic career as a lecturer at Rutgers. Then she taught law at the University of Texas and the University of Pennsylvania. In 1995, she transitioned to Harvard Law School with an expertise in bankruptcy and commercial law. She taught at Harvard until her run for US Senate in 2012, and she easily won reelection in 2018. As Senator, Warren serves on the Armed Services, Banking, and Health, Education, Labor, and Pensions Committees.</p><p class='black-text'>Warren's <a href="https://slate.com/news-and-politics/2019/05/elizabeth-warren-policy-ideas-guide-2020.html">platform </a>has five main pillars: End corruption, rebuild the middle class, strengthen democracy, equal justice under law, and smart foreign policy. Her anti-corruption proposal includes closing lobbying loopholes and the revolving door between the public and private sectors, banning former Congresspeople from becoming lobbyists, and requiring federal candidates to release tax returns. Her middle class platform includes antitrust enforcement against big corporations, an ultra-millionaires wealth tax, a housing plan, universal childcare and Medicare for all, a Green New Deal, and student loan debt relief. Her democracy plank includes prohibiting gerrymandering, overturning Citizens United, automatic voter registration, and protecting elections from foreign interference. She supports criminal justice reform, marijuana decriminalization, and police demilitarization. Her foreign policy calls for bringing the troops home, cutting defense contractor expenses, and strengthening ties with allies.</p><p class='black-text'>One of the Democratic Party's most prolific policy wonks, Warren continues to release many proposals during her presidential campaign, keeping the political media focused on her. But she also has many <a href="https://www.cnn.com/2019/05/18/politics/elizabeth-warren-bernie-sanders-poll-of-the-week/index.html">challenges </a>as an older candidate in a crowd of younger faces. President Donald Trump likes to attack her. Progressive voters are inclined to choose Bernie, moderate voters have many options, and identity voters prefer Buttigieg or Senator Kamala Harris (D-CA). Still, Warren polls third in many polls, and many voters remain undecided. If Warren can successfully promote her policies on the debate stage, then millions more Americans could cast their vote for her.</p><div class="image-holder"><img id="7079" alt="Senator Elizabeth Warren (D-MA) announces her 2020 presidential campaign at Everett Mills, in Lawrence, Massachusetts on February 9, 2019." src="//images1.paszport.ws/cached_images/1558371656-5ce2dd484cf80.jpg" /><div class="copyright-holder">&copy; Chuck Kennedy for Warren 2020</div></div><div class="image-description">Senator Elizabeth Warren (D-MA) announces her 2020 presidential campaign at Everett Mills, in Lawrence, Massachusetts on February 9, 2019.</div> http://www.pws.io/elizabeth-warren-is-the-policy-wonk Mon, 20 May 2019 10:58:00 -0400 Eric Yao Blockchain & Crypto Week of May 19 in Review http://www.pws.io/blockchain-crypto-week-of-may-19-in-review <p class='black-text'>The third week of May has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that <a href="https://blog.blockport.io/blockport-sto-results/">Blockport </a>announced its security token offering (STO) failed to reach its goals and it will essentially shut down operations. The cryptocurrency exchange startup said its STO did not hit the soft cap of 1 million euros, and the firm will refund its STO investors. Blockport also said it will drastically scale down the business and lay off most of its staff. The firm added users can still withdraw funds from the platform while operations wind down. Finally, Blockport said it is seeking partners for a potential future reboot. The price of BPT tokens collapsed 87% over the week.</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/tether-ordered-to-freeze-transfers-to-bitfinex-by-new-york-supreme-court">New York Supreme Court</a> ordered Bitfinex and Tether to submit documents and freeze transfers among the entities. Judge Joel Cohen issued an opinion on Thursday that requires the cryptocurrency exchange and stablecoin firm cease lending to each other. Cohen's ruling also says the firms must turn over to New York documents relating to a loan and line of credit. The court's injunction lasts for 90 days, and the New York Attorney General can ask the court for an extension afterward. Bitfinex praised the court's decision and said it will continue defending itself from the state's attorney general.</p><p class='black-text'><a href="https://www.coindesk.com/brave-browser-to-raise-over-30-million-in-series-a-equity-round-sources">Brave </a>is seeking to raise a Series A funding round of between $30 and $50 million, according to insider sources. Founded in 2016 and having previously raised $35 million in a few minutes in 2017, the privacy browser startup is looking for a new valuation of about $133 million. The browser firm recently debuted Brave Ads, a program that pays BAT tokens to users who choose to view ads in the Brave browser. The potential funding round will be equity investment, unlike its 2017 initial coin offering (ICO), which was funded with BAT tokens. Brave declined to comment on the news.</p><p class='black-text'>Crypto prices fell dramatically in the middle of the week before rebounding during the weekend to end at nearly $248 billion. For the majors, Stellar (XLM), Binance Coin (BNB), and Ethereum (ETH) led the price rise, while Litecoin (LTC) and Tether (USDT) posted the smallest gains. In the top 100, the biggest losers are ABBC Coin (ABBC), down 12%, Factom (FCT), down 6%, and Mixin (XIN), down 6%. The biggest gainers are NEM (XEM), up a whopping 63%, Verge (XVG), up 59%, and LATOKEN (LA), up 58%. Traders will keep watching if Bitcoin (BTC) can keep the crucial $8,000 support 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-may-19-in-review Mon, 20 May 2019 10:47:45 -0400 Eric Yao Markets lower on more Huawei news. http://www.pws.io/markets-lower-on-more-huawei-news <p class='black-text'>The markets were lower to start the week following news of many of the chip makers as well as Google which began to confirm that they would not be working with Chinese phone giant Huawei.</p><p class='black-text'>The Dow 30 sold off 84 thanks in part to Intel. The S&P 500 sold off 19 and the tech heavy Nasdaq closed the day lower by 113. Tomorrow, investors will digest a slew of retail earnings both before and after market hours.</p><p class='black-text'>Sector News</p><p class='black-text'>Oil was higher overnight as well as today as Saudi Arabia says they are likely to continue with more cuts in production. In addition to that, President Trump warned Iran that they could face their "end" if they threaten the U.S. again. This comes after a rocket landed just shy of the U.S. Embassy in Baghdad. Both Saudi Arabia and the U.S. now have made clear that avoiding war is up to Iran.</p><p class='black-text'>Semiconductors sold off sharply today as investors responded to news that many chipmakers are ceasing business with Huawei. Qualcomm <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QCOM"><span style="color:#333">(</span><span style=";">QCOM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QCOM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QCOM" 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="QCOM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Broadcomm <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AVGO"><span style="color:#333">(</span><span style=";">AVGO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AVGO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AVGO" 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="AVGO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Intel <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/INTC"><span style="color:#333">(</span><span style=";">INTC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="INTC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="INTC" 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="INTC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> are among those that have confirmed they will not do business with the firm. According to Evercore, Huawei buys approximately $20 billion in chips each year.</p><p class='black-text'>Stock News</p><p class='black-text'>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> shares sold off again today, breaking below the $200 area early in the morning. The company sold off on analyst comments from Wedbush which raised concerns about profitability in the second half of this year. The analyst cited an "uphill battle" wich caused them to lower their forecast for the stock from $275 to $230.</p><p class='black-text'>Lyft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LYFT"><span style="color:#333">(</span><span style=";">LYFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LYFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LYFT" 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="LYFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were in the news again today as the company is being sued by a group of investors claiming that the company made "false and misleading" statements which helped support an "inflated" share price. Shares of Lyft remain near lows, losing about 30% from it's opening price.</p><p class='black-text'>T-Mobile <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TMUS"><span style="color:#333">(</span><span style=";">TMUS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TMUS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TMUS" 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="TMUS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Sprint <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/S"><span style="color:#333">(</span><span style=";">S</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="S" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="S" 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="S" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were both higher today as they got the backing of the FCC Chairman for their merger. The company announced the concessions they were willing to make to appease the Justice Department which may just be enough to win approval. Later in the day shares of Sprint were halted on news that the Justice department may not approve the deal.</p> http://www.pws.io/markets-lower-on-more-huawei-news Mon, 20 May 2019 08:24:58 -0400 Dustin Tibbitts IPO weekly update. http://www.pws.io/ipo-weekly-update-1 <p class='black-text'>As we've mentioned all year long, this is and will continue to be a busy year for headline IPO's. So far has not been a disappointment. Last week saw major price fluctuations in recent IPO's like 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>, and 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> which nearly hit a $6 billion market cap. We also had a very successful IPO from what was labeled the Chinese Starbucks rival, Luckin Coffee <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LK"><span style="color:#333">(</span><span style=";">LK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LK" 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="LK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. They were able to raise $561 million in their IPO which gained 20% in its first day. There were three other smaller IPO's that also had positive first day performance.</p><p class='black-text'>This week sort of starts a temporary, two week pause for the IPO markets but there are still a four names to take a look at. The bulk of the money raised this week is looking like it will be from one name.</p><p class='black-text'>Rattler Midstream <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RTLR"><span style="color:#333">(</span><span style=";">RTLR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RTLR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RTLR" 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="RTLR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is another oil services company that is a large spin off from Diamondback Energy <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FANG"><span style="color:#333">(</span><span style=";">FANG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FANG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FANG" 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="FANG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. The company will offer 33 million shares at a range of $16 -$19.</p><p class='black-text'>The three other names this week are in the biotech space and include two Phase 1 biotechs and one Phase 2. Peloton Therapeutics <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PLTX"><span style="color:#333">(</span><span style=";">PLTX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PLTX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PLTX" 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="PLTX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is focused on kidney cancer and is currently in phase 2 medical trials for this medication. They will be offering 9.3 million shares at a range of $15 - $17 in hopes of raising $150 million.</p><p class='black-text'>Also in the cancer space is IDEAYA Biosciences <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/IDYA"><span style="color:#333">(</span><span style=";">IDYA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="IDYA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="IDYA" 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="IDYA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> which is a Phase 1 trial name that will be offering 5 million shares at a range of $13 - $15.</p><p class='black-text'>Finally, out of the UK we have Bicycle Therapeutics <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BCYC"><span style="color:#333">(</span><span style=";">BCYC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BCYC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BCYC" 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="BCYC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> which is focused on precision cancer medications based on peptides that they seem to have named themselves after. They will offer 4.3 million shares at a range of $14 -$16.</p> http://www.pws.io/ipo-weekly-update-1 Sun, 19 May 2019 17:29:34 -0400 Dustin Tibbitts Stock markets close on a sour note. http://www.pws.io/stock-markets-close-on-a-sour-note <p class='black-text'>The markets were lower initially as earnings from Deere <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DE"><span style="color:#333">(</span><span style=";">DE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DE" 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="DE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and weak Chinese earnings held back the global markets. Mid-morning consumer sentiment numbers came in better than expected which pulled the markets into the positive. By the afternoon however as CNBC reported that China trade talks have officially stalled. This sent all the major indices back into the red. The Dow closed the day lower by 98, the S&P 500 sold off 16 and the Nasdaq closed the day down 81.</p><p class='black-text'>Next week starts with Fed speak on Monday morning as well as the Fed Chairman talking in the evening. Healthcare investors will be focused on the UBS HealthCare conference which starts Monday as well.</p><p class='black-text'><b>Sector News</b></p><p class='black-text'>Semiconductors continued their weakness today following yesterday's Huawei news that the U.S. would ban them and their associates. The semiconductors are a vital part to the overall support of the market and were one of the culprits that held back the broad markets today.</p><p class='black-text'>For the most part, many of the other areas of the market remain in a vulnerable position following this weeks volatility. Investors will turn to next week's schedule of news for more clarity on the health of the Chinese markets, tariffs, and U.S. economic news.</p><p class='black-text'><b>Stock News</b></p><p class='black-text'>Pinterest <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PINS"><span style="color:#333">(</span><span style=";">PINS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PINS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PINS" 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="PINS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were in focus today as the stock sold off double digits following their earnings report. In their first earnings report since being public the company showed a loss of $41 million on revenue if $201 million. The loss was blamed on adding new employees and they guided lower for the current quarter as well.</p><p class='black-text'>Luckin Coffee <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LK"><span style="color:#333">(</span><span style=";">LK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LK" 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="LK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares had a rather successful IPO today as the company sold more shares than anticipated raising $561 million. Luckin is technically the second largest coffee chain in China though it is a distant second to 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></p><p class='black-text'>Baidu <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BIDU"><span style="color:#333">(</span><span style=";">BIDU</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BIDU" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BIDU" 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="BIDU" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> along with many other Chinese names sold off hard today. Biadu shares saw a double digit sell off as the company showed a quarterly loss for the first time since 2005 when they IPO'd. The company also offered guidance for the current quarter that was below expected as they deal with a slowing Chinese economy.</p> http://www.pws.io/stock-markets-close-on-a-sour-note Fri, 17 May 2019 14:25:12 -0400 Dustin Tibbitts Markets nearly erase weeks losses. http://www.pws.io/markets-nearly-erase-weeks-losses <p class='black-text'>The markets were higher yet again today as positive earnings from Walmart and Cisco put a nice cap on a wild earnings season. The Dow 30 closed higher by 215, the S&P 500 added 25 and the Nasdaq added 75. The S&P 500 and the Nasdaq have now officially erased the weeks losses.</p><p class='black-text'>Sector News</p><p class='black-text'>Semiconductors were weak today as the U.S. moved ahead with a ban on Huawei. Sector is one of the few that have not erased this weeks losses.</p><p class='black-text'>Oil finally moved out of a choppy, two week range today as reports showed that Saudi Arabia launched air strikes against Iran in retaliation for drone attackes on Saudi oil stations earlier in the week. The commodity had it's first 3 day win streak of the month as it moves off the 200 day moving average.</p><p class='black-text'>Transports popped back above the 200 day moving average today and has now fully recovered Monday's losses, turning positive for the week.</p><p class='black-text'>Consumer staples broke to new 52-week highs today and now has gains of over 15% on the year.</p><p class='black-text'>Home Builders were higher on the day thanks to favorable housing econ. numbers as well as an upgrade of KB Homes.</p><p class='black-text'>Stock News</p><p class='black-text'>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> shares were higher today thanks to a positive earnings report. The company beat on earnings by 11 cents. Revenue came in less than expected but was blamed on global currency issues which investors were willing to overlook thanks to store sales which grew by 3.4%. Shares are about 3% from hitting new highs.</p><p class='black-text'>Cisco <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CSCO"><span style="color:#333">(</span><span style=";">CSCO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CSCO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CSCO" 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="CSCO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were sharply higher today after reporting earnings that beat expectations by a whopping 77 cents. The company also reported earnings that were better than expected and guided higher for the current quarter despite the trade war issues at hand. Today alone shares have almost erased the entire month of May's declines.</p><p class='black-text'>PG&E <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PCG"><span style="color:#333">(</span><span style=";">PCG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PCG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PCG" 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="PCG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were back in focus today as California state investigators officially determined that power lines owned by the company were the cause of last years fire that killed 85 people. Shares were largely unchanged on the report.</p> http://www.pws.io/markets-nearly-erase-weeks-losses Thu, 16 May 2019 15:07:24 -0400 Dustin Tibbitts Stock Market Recovers Some of Yesterday's Losses http://www.pws.io/stock-market-recovers-some-of-yesterdays-losses <p class='black-text'>The markets rallied back yesterday, recovering some of the losses from the day prior as comments from President Trump helped calm the concern that the trade war negotiations were collapsing. The Dow 30 closed higher on the day by 207, though it pulled back from the highs it reached. The S&P 500 followed suit with a gain of 22 and the Nasdaq added 87. Investors noticed the pullback from the highs of the session as volume was light. This could cause a bit of caution from the bulls in the short term.</p><p class='black-text'>Sector News</p><p class='black-text'>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 one of the many sectors to enjoy a recovery bounce with a gain that erased about half of their losses earlier this week. The sector has been severely beaten down lately, pushing into correction territory on Monday's decline. Though today saw a recovery, many technical investors are concerned that the 200-day moving average is still in play.</p><p class='black-text'>Oil <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> also attempted a recovery rally today as investors' concerns over trade were comforted by President Trump's comments. Oil has been a tricky area to invest in lately, as it has trended perfectly sideways for two weeks now. The saving grace for oil bulls is the 200-day moving average, which continues to act as support.</p><p class='black-text'>Financials <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 have shown some relative strength in this latest market pullback, have now recovered almost all of Monday's losses. Technical traders note the pullback to the 200-day moving average, which has held so far along with some prior price support from earlier this year.</p><p class='black-text'>Industrials <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> can say they have also held the 200-day moving average thanks to a rally perfectly off the popular moving average. While other sectors broke through the 200-day this week, industrials have managed to hang on for the moment.</p><p class='black-text'>Stock News</p><p class='black-text'>Tencent Music <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TME"><span style="color:#333">(</span><span style=";">TME</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TME" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TME" 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="TME" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares fell to new 3 month lows as the company reported its second earnings since going public. The Chinese media streaming service did beat on earnings, but missed on revenue. Comments that they're now able to charge more for their content were a bright spot for investors, as this change is starting to show in their financials. Shares are still higher than their IPO price, but have been trending lower ahead of the lockup expiration.</p><p class='black-text'>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> shares were in the news today as the company announced free next-day shipping on about 220,000 products in parts of California, Nevada, and Arizona. The offering comes with no requirements of a membership, which is in contrast to Amazon Prime. Shares of Walmart have been in a steady uptrend, trading above the 200-day moving average.</p><p class='black-text'>T-Mobile <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TMUS"><span style="color:#333">(</span><span style=";">TMUS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TMUS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TMUS" 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="TMUS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Sprint <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/S"><span style="color:#333">(</span><span style=";">S</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="S" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="S" 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="S" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have reportedly been considering making some concessions to the Justice Department to win approval for their $27 billion merger. Part of the consideration was selling off their pre-paid cell divisions.</p> http://www.pws.io/stock-market-recovers-some-of-yesterdays-losses Wed, 15 May 2019 04:35:15 -0400 Dustin Tibbitts Markets Suffer Losses on Trade War Retaliation http://www.pws.io/markets-suffer-losses-on-trade-war-retaliation <p class='black-text'>The markets sold off hard all morning long as investors worked to re-price the markets given the latest tariff tit-for-tat between the U.S. and China. The Dow was lower by 700 points, which has only happened 7 other times in history. Ultimately it closed lower by 618. The S&P 500 pulled back to the 2800 level, where it found a little intraday support, but still lost 69 on the day. The Nasdaq was the hardest hit with a loss of 269 today.</p><p class='black-text'>Sector News</p><p class='black-text'>Semiconductors continue to be a weak area of the market as investors focus 100% on the trade war between China and the U.S. The semis have now given back all of April's gains and seem to be headed back to the 200-day moving average. In the short-term, this is the pullback that many investors have been waiting for.</p><p class='black-text'>Oil was initially higher as it was reported overnight in Saudi Arabia that two of their tankers were the subject of a sabotage attack. As the U.S. markets began their morning, however, oil prices slid on the Chinese retaliation in the escalating trade war.</p><p class='black-text'>Stock News</p><p class='black-text'>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> shares traded lower again today as the new IPO continues to be under pressure from a valuation standpoint. After launching on Friday the stock sold off almost 8% and today was already lower by 5% before the market even opened. This is now on record as one of the worst 2-day performances by a new, headline IPO in the last 10 years.</p><p class='black-text'>Shares 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> sold off sharply today as investors continue to worry about the trade war and how it will play into future earnings and growth. 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> has also been warning clients to move away from tech companies with a product focus in favor of more service-based tech companies. The only bright side is that technical traders note the oversold positioning of the stock price, which tends to lead to a short-term bounce.</p><p class='black-text'>Teva Pharmaceuticals <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> shares sold off sharply today as they (along with a handful of other drug companies) have been hit with a lawsuit. Individual states have sued the pharmaceutical companies for plotting together to inflate or to keep drug prices high.</p> http://www.pws.io/markets-suffer-losses-on-trade-war-retaliation Mon, 13 May 2019 15:25:27 -0400 Dustin Tibbitts Blockchain & Crypto Week of May 12 in Review http://www.pws.io/blockchain-crypto-week-of-may-12-in-review <p class='black-text'>The second week of May has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that <a href="https://www.coindesk.com/hackers-steal-40-7-million-in-bitcoin-from-crypto-exchange-binance">Binance </a>announced on Tuesday it was hacked to the tune of 7,000 Bitcoin (BTC) worth $40.7 million. The major exchange said attackers performed a large scale security breach to steal BTC, user API keys, two-factor authentication codes, and other data. Chief executive Changpeng Zhao tweeted that the attack only affected Binance's hot wallet and the exchange will conduct a thorough security review and strengthen internal cybersecurity protocols. Binance added it will compensate affected users with its Secure Asset Fund for Users and cover their losses.</p><p class='black-text'>Here is the rest of the week in review:</p><p class='black-text'>ConsenSys CEO <a href="https://www.coindesk.com/consensys-ceo-predicts-trump-re-election-facebook-breakup-and-crypto-revival">Joseph Lubin</a> gave a keynote address in Brooklyn on Saturday, to conclude the 2019 Ethereal Summit. In his speech, Lubin pretended it was the year 2047. He predicted a second term for US President Donald Trump, a state of radical division and hate crimes, and the breakup of 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> into a news media firm and a decentralized social platform. He proclaimed that in the future, "Liberal democracy was on its death bed." He also predicted that decentralized journalism startups like Civil helped revive the news industry. Despite the bleak forecasts, Lubin closed out his speech by saying that a decentralized era of journalism and ethics arose that changed the world for the better.</p><p class='black-text'>A new report by <a href="https://www.coindesk.com/quadrigacx-has-21-million-in-assets-and-owes-160-million-ey-report">Ernst & Young</a> says that QuadrigaCX owes creditors $160 million but only owns $21 million in assets. The report from the audit firm and court-appointed monitor and trustee discloses that the defunct Canadian exchange has three affiliated entities: Quadriga Fintech Solutions, Whiteside Capital Corporation, and 0984750 B.C. The question is where the money owed to Quadriga's creditors is. It is unclear if EY is making progress on finding the exchange's lost funds. Regardless of whether the Quadriga estate is included in the asset calculation, the exchange is short some $130 million owed to its customers who became creditors.</p><p class='black-text'>Crypto prices soared convincingly to above $207 billion this week, despite the bad news from Binance. For the majors, BTC, Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) led the gains, while Binance Coin (BNB) and Stellar (XLM) slipped in the red. In the top 100, the biggest losers are Newton (NEW), down a massive 31%, Cosmos (ATOM), down 23%, and Nexus (NXS), down 18%. The biggest gainers are Bitcore (BTX), up a whopping 75%, ABBC coin (ABBC), up 47%, and Particl (PART), up 39%. Next week, traders will be watching the Consensus 2019 gathering in New York.</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-may-12-in-review Mon, 13 May 2019 05:35:40 -0400 Eric Yao Markets Post Worst Week of the Year http://www.pws.io/markets-post-worst-week-of-the-year <p class='black-text'>The markets finished their worst week of the year with a gain by the close. China tariffs officially have been increased to 25% on $200 billion in goods. Talks are still ongoing. Overnight, Chinese stocks saw a sharp rally, posting the best day in over a month.</p><p class='black-text'>Here in the States the markets traded in a volatile range as the midnight deadline hit. Initially today the markets were trading lower but ultimately the Dow rallied over 450 points off the lows to close the day higher by 114. The S&P 500 also saw a gain on the day of 10 and the Nasdaq closed in the green by 6.</p><p class='black-text'>Aside from trade war news, investors were focused on the much-anticipated IPO of Uber, which went public this morning.</p><p class='black-text'>Stock News</p><p class='black-text'>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> shares officially went public today, opening at $42 a share after pricing at $45 last night. Shares traded in a wild range initially as expected. Rival Lyft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LYFT"><span style="color:#333">(</span><span style=";">LYFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LYFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LYFT" 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="LYFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> traded lower by 3.4% and is now lower by 30% since their IPO. Today's pricing of Uber puts its valuation at 6.3 times last quarter sales, while Lyft is currently trading at 5 times.</p><p class='black-text'>Yelp <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> shares sold off around 15% today following an earnings report that offered a bleak future. The company guided lower for the second quarter and the full year, stating their revenue growth would not likely meet Wall Street's expectations.</p><p class='black-text'>Shares 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> found themselves in the crosshairs of the trade war. Analyst have been voicing their concerns that Apple is a major vulnerability due to their iPhone production reliance on China. Shares moved back to the 200-day moving average, where they found intra-day support.</p> http://www.pws.io/markets-post-worst-week-of-the-year Fri, 10 May 2019 15:17:50 -0400 Dustin Tibbitts Markets Contine Wild Ride Intra-Day http://www.pws.io/markets-contine-wild-ride-intra-day <p class='black-text'>The markets were sharply lower to start the day as President Trump stated at a rally in Florida that China "Broke the deal" and that they would pay for doing so. This caused investors to worry there would likely be no deal of any kind by tomorrow's deadline. Later in the day more comments from Trump showed promise of an eventual deal, which pulled the Dow 200 points off lows.</p><p class='black-text'>The Dow 30 closed the day lower by 140, the S&P 500 lost 8, and the Nasdaq closed the day down sharply, losing 32. Tomorrow, investors will not only be searching for any news on trade but will also focus on the IPO of ridesharing company 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>.</p><p class='black-text'>Sector News</p><p class='black-text'>Semiconductors were one of the worst performing areas of the markets today, as they got hit with a double whammy of sorts. Chip stocks sold off on Intel news, along with being stuck in the crosshairs of the trade war playing out on the public stage. Though the sector is now in correction territory with this recent pullback, it is still higher on the year by about 25%.</p><p class='black-text'>Technology stocks were also weak today and have now pulled back about 7% over the last 2 weeks. 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> analysts offered a note to clients that investors should stick with tech stocks more focused in the service industry rather than the product industry to avoid as much of the trade war issues as possible.</p><p class='black-text'>Stock News</p><p class='black-text'>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> shares were in the news today as the company reported earnings that beat expectations along with revenue that came in better than expected as well. One investor concern was their direct-to-consumer segment, which saw growth in the first quarter but operated at a loss as the company continues to invest to compete with the likes of Netflix.</p><p class='black-text'>Intel <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/INTC"><span style="color:#333">(</span><span style=";">INTC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="INTC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="INTC" 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="INTC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> sold off sharply just before the market close yesterday and today suffered a sharp down day as the company offered revenue guidance well below expectations. The company was also downgraded today at BMO on concerns about margin performance in the industry.</p> http://www.pws.io/markets-contine-wild-ride-intra-day Thu, 09 May 2019 14:41:06 -0400 Dustin Tibbitts Markets Trade in Wild Range on Tariff News http://www.pws.io/markets-trade-in-wild-range-on-tariff-news <p class='black-text'>The markets traded in a back and forth range today as investors continue to digest the fluid movement of trade news. Today comments from the White House along with a tweet from the President helped calm investors as they said China indicated they want to make a deal. China's only response to that headline was that they would retaliate should tariffs be increased on Friday. This left investors in wait and see mode</p><p class='black-text'>The Dow ultimately closed slightly higher on the day with a gain of 2. The S&P 500 lost 4 and the Nasdaq closed in the red by 20 points.</p><p class='black-text'>Sector News</p><p class='black-text'>Individual sectors were fairly quiet today with many areas just posting a small gain on the day. Oil and oil related stocks were some of the better performers, as the oil inventory reports showed a reduction of 4 million barrels here in the States. This helped support the price of oil, which has been pulling back over the last few weeks.</p><p class='black-text'>For the most part it seems that investors are now sitting anxiously, waiting for more trade news to come out on Friday.</p><p class='black-text'>Stock News</p><p class='black-text'>Lyft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LYFT"><span style="color:#333">(</span><span style=";">LYFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LYFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LYFT" 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="LYFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares sold off to lows today as the company announced it lost a whopping $1.1 billion. While revenues came in better than expected, the company guided for more losses on the year. The one bright spot was they did say this would be the "peak year of losses" in an effort to comfort investors concerned about such a large operating loss. 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> is set to go public on Friday and has indicated they will price at the midpoint of their $44 - $50 range. This would put their valuation at about $85 billion, but investors will have to deal with their losses mounting as well. Yesterday the company reported its latest numbers, which showed losses growing and revenue slowing. As of now the IPO is oversubscribed.</p><p class='black-text'>Electronic Arts <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/EA"><span style="color:#333">(</span><span style=";">EA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="EA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="EA" 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="EA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares traded in a wild range today as the company reported earnings that beat by about 30 cents, along with stronger than expected revenue. Investors also got the coveted "third beat" when the company announced positive guidance for this quarter as well as the full year.</p><p class='black-text'>TripAdvisor <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TRIP"><span style="color:#333">(</span><span style=";">TRIP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TRIP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TRIP" 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="TRIP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares sold off to new lows on the year despite beating on earnings by 5 cents. Investors focused on revenue, which missed expectations, and comments from the company that they have seen a slowdown in revenue growth from the "non-hotel" areas of their business.</p> http://www.pws.io/markets-trade-in-wild-range-on-tariff-news Wed, 08 May 2019 15:28:00 -0400 Dustin Tibbitts Markets plummet on mounting trade war concerns. http://www.pws.io/markets-plummet-on-mounting-trade-war-concerns <p class='black-text'>The markets suffered a strong pullback today as investors continue to adjust following the trade concerns that started late Sunday when President Trump tweeted he would be raising tariffs to 25% on existing goods and considering raising on the rest of all Chinese goods "shortly." This comes as the deadline for a deal is this Friday and reports show the Chinese have backtracked on part of the existing deal terms.</p><p class='black-text'>Every Dow 30 stock was lower today and at one point the index was lower by 600+ points. Thanks to some last-minute buying, the Dow closed the day off its lows but still lost 472 on the day. The S&P 500 sold off 48 and the Nasdaq lost 159, which made it the biggest loser of the major indices. The Russell 2000 was the biggest loser overall, selling off 2.31% on the day.</p><p class='black-text'>Sector News</p><p class='black-text'>Oil was a weak spot today as the escalating trade war put pressure on the commodity. Oil pulled back to one-month lows as President Trump vows to place new tariffs on almost all Chinese goods on Friday. For the year oil has had an impressive 30% rally off lows as OPEC cut production and Iranian sanctions have helped support prices.</p><p class='black-text'>Semiconductors were also a weak area of the markets today as they continue to be directly in the middle of the trade war between China and the US. The sector completely erased all attempts to rally off lows yesterday and is now lower by over 3% just this week alone.</p><p class='black-text'>Healthcare rejected yesterday's rally as the sector erased most of the impressive bounce. Healthcare stocks shot higher yesterday on comments from a hedge fund manager who said many of them have been oversold by investors. The price activity in the last two days makes this a crucial moment for the sector as price resistance is above but yesterday's rally won't immediately be forgotten.</p><p class='black-text'>Stock News</p><p class='black-text'>Anheuser-Busch InBev <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BUD"><span style="color:#333">(</span><span style=";">BUD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BUD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BUD" 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="BUD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were lower on the day as the company missed on earnings by 6 cents yet again. The company has now missed earnings expectations 11 out of the last 15 quarters. Revenue did come in higher than expected and the company announced a potential Asian IPO. Shares are now lower by about 6% since hitting highs just 2 weeks ago.</p><p class='black-text'>Hertz <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HTZ"><span style="color:#333">(</span><span style=";">HTZ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HTZ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HTZ" 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="HTZ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> beat on earnings for the third quarter in a row as the company lost 36 less than expected on revenues that were as expected. This initially sent shares higher in the aftermarket, but today's market weakness pulled shares lower on the day.</p><p class='black-text'>AIG <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AIG"><span style="color:#333">(</span><span style=";">AIG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AIG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AIG" 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="AIG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were higher on the day as the company reported earnings that came in about 50 cents better than expected. Revenue beat expectations thanks to a profit in their underwriting division. Shares broke to new highs on the year after mostly consolidating for 2019.</p> http://www.pws.io/markets-plummet-on-mounting-trade-war-concerns Tue, 07 May 2019 15:14:14 -0400 Dustin Tibbitts Blockchain & Crypto Week of May 5 in Review http://www.pws.io/blockchain-crypto-week-of-may-5-in-review <p class='black-text'>The first week of May has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that <a href="https://www.coindesk.com/not-a-white-paper-marketing-document-details-1-billion-bitfinex-token-sale">iFinex </a>is considering a token sale to help raise money and shore up its troubled finances. The controversial parent company of Bitfinex, Ethfinex, and Tether released a short marketing document detailing how the sale could proceed. Ifinex wants to sell 1 billion LEO tokens for 1 USDT each. The tokens would allow users to trade with discounted fees on Bitfinex and Ethfinex. The firm intends to buy back its LEO tokens over time until only 100 million remain in circulation. It is unclear if iFinex's potential crowdsale will be satisfied by market demand, and the company with a shady reputation has yet to release a white paper.</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/grayscale-to-launch-pro-bitcoin-ads-drop-gold-on-social-media-linear-tv">Grayscale </a>Investments began airing new ads advocating for Bitcoin (BTC) as a superior alternative investment. The ad initiative, dubbed "Drop Gold," is meant to promote investment in the Grayscale Bitcoin Investment Trust <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GBTC"><span style="color:#333">(</span><span style=";">GBTC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GBTC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GBTC" 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="GBTC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. The first ad shows the disadvantages of gold compared to Bitcoin and touts Bitcoin as the future of alternative assets. The suite of ads is slated to run on broadcast television and social media in order to reach both young and old demographics. Grayscale's parent company Digital Currency Group believes that investments in gold will be moved into Bitcoin and crypto as baby boomers worldwide retire and pass down wealth to younger investors.</p><p class='black-text'><a href="https://www.coindesk.com/microsoft-makes-jpmorgans-quorum-the-preferred-blockchain-for-azure-cloud">Microsoft </a><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> announced on Thursday it will promote JPMorgan Chase'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 blockchain as Azure Cloud's preferred blockchain to the firm's enterprise customers. Quorum will become the first distributed ledger platform available through the Azure Blockchain Service, enabling JP Morgan and Microsoft customers to build and scale blockchain networks in the cloud. JP Morgan will also build its own first-party applications for the service. Microsoft and JPMorgan believe the partnership will help expand access to Quorum for enterprise clients.</p><p class='black-text'>Crypto prices jumped to $182 billion this week on rather bullish momentum. For the majors, Bitcoin Cash (BCH), Bitcoin, and Litecoin (LTC) led the gains, while Cardano (ADA) and Stellar (XLM) slipped into the red. In the top 100, the biggest losers are Maximine Coin (MXM), down a whopping 30%, ODEM (ODE), down 22%, and Populous (PPT), down 17%. The biggest gainers are Horizen (ZEN), up 26%, ABBC Coin (ABBC), up 24%, and Santiment Network (SAN), up 15%. Next week traders will watch if Bitcoin can top $6,000 and lift up altcoins together.</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-may-5-in-review Mon, 06 May 2019 11:58:27 -0400 Eric Yao Headlines continue to include IPO's. http://www.pws.io/headlines-continue-to-include-ipos <p class='black-text'>The IPO market continues to be one of the main headlines this year as more and more brand names are launching along with some dark horse names that have managed to steal attention, even if only briefly.</p><p class='black-text'>One of those names last week was Beyond Meat <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> which dominated the headlines thanks to its 160% first day gain. Investors flocked to the previously unheard of name, jumping all in on the vegan meat company pushing it's valuation to more than $20 billion. This put it ahead of current valuations of Lyft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LYFT"><span style="color:#333">(</span><span style=";">LYFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LYFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LYFT" 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="LYFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Pinterest <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PINS"><span style="color:#333">(</span><span style=";">PINS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PINS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PINS" 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="PINS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. At that point investors had paid just about 40 times sales which is a record for a food company.</p><p class='black-text'>That news could become old news this week as the mother of all IPO's which has been teased for years is coming public. 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> is expected to launch this week and is hoping to raise $8.5 billion. The popular ride sharing company has reduced their valuation following the results of the Lyft IPO, but this could work in their favor. This will be the largest offering since 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> in terms of valuation and deal size. 180 million shares will be offered at a range of $44 -$50.</p><p class='black-text'>This will be another test for the silicon valley companies that, while they are growing rapidly, have not made nor do they have any sign of making a profit. Uber lost $2.3 billion last year with over $11 billion in total revenue and analysts currently see no quick path to turning a profit. Despite this, the offering is currently over subscribed and is expected to price above the initial range.</p> http://www.pws.io/headlines-continue-to-include-ipos Sun, 05 May 2019 22:45:45 -0400 Dustin Tibbitts Cory Booker is a Rising Contender http://www.pws.io/cory-booker-is-a-rising-contender <p class='black-text'>Senator Cory Booker (D-NJ), who officially announced on February 1 that he is running for the Democratic nomination for US president in 2020, reached a critical milestone in the race to be America's head of state. Today Booker reported that his <a href="https://twitter.com/CoryBooker/status/1124377490049441792">campaign </a>has received 65,000 donations from individual donors, a key metric that qualifies him to join the first Democratic debate in June. Despite a slow start and somewhat low name recognition in a crowded primary field of 20, Booker is a rising contender who could seriously challenge President Donald Trump next year.</p><p class='black-text'><a href="https://www.businessinsider.com/who-is-cory-booker-bio-age-family-key-positions-2019-3">Booker </a>was born to an upper-middle class family in Washington, D.C. and grew up in a suburb outside Newark, New Jersey. He attended Stanford University, where he played football and earned a Bachelor's and Master's degrees in political science and sociology. He studied history at Oxford University on a Rhodes Scholarship. He then attended Yale Law School, and he won a seat on the Newark Municipal Council after graduation. After a short stint on the council, he ran for mayor of Newark and lost in 2002. In 2006, he ran again and won. He served as a popular mayor until 2012, when he ran in a US Senate special election. Booker has served as a Senator since 2013 and won reelection in 2014. He plans to run again in 2020, if he does not win the presidential nomination.</p><p class='black-text'>Known as a moderate progressive, Booker has offered many policy proposals during his Senate tenure. The<a href="https://www.cnbc.com/2019/02/01/heres-where-cory-booker-stands-on-key-issues.html"> three main pillars</a> of his campaign are the economy, drug policy, and criminal justice reform. He worked on the First Step Act with Trump and wants to go further to ban solitary confinement and help released prisoners find work. He favors the federal legalization of marijuana and an end to the war on drugs. Though his economic plank is still developing, Booker seems to support policy that tackles wealth inequality. He has a housing aid plan that would give low and middle class renters tax credits to defray costs. His baby bonds plan would save children in poor families up to $46,000 in Treasury bonds by age 18. And Booker wants to reform the tax code to make the wealthy and corporations pay more and let the middle class keep more income.</p><p class='black-text'>Booker is unique as a young black vegan candidate with some fresh ideas. But <a href="https://www.politico.com/story/2019/03/24/cory-booker-2020-democrats-left-1232409">many challenges</a> face him. The biggest is clearly articulating his policy vision closer to the general election. Another challenge is his rather moderate record and platform, which will probably be scrutinized by the progressive base. His last challenge is his supposed coziness with Wall Street, Silicon Valley, charter schools, and big pharma firms headquartered in his home state. However, Booker possesses good oratory skills and charisma, which should help on the debate stage.</p> http://www.pws.io/cory-booker-is-a-rising-contender Sun, 05 May 2019 08:34:35 -0400 Eric Yao Markets Lower Post-Fed http://www.pws.io/markets-lower-post-fed <p class='black-text'>The markets sold off again today as investors position for the possibility of no rate cut by the Fed following the Chairman's comments yesterday. The Dow closed lower on the day by 122, the S&P 500 sold off 6, and the Nasdaq lost 12 on the day.</p><p class='black-text'>Tomorrow the focus will be on the unemployment numbers, which could be a market mover in the morning. The rate is expected to remain unchanged at 3.8%</p><p class='black-text'>Sector News</p><p class='black-text'>Oil continued its pullback today with the second-largest decline this year. Today is the day the US stops issuing waivers to countries getting oil from Iran. This has shifted the demand back to Saudi Arabia, which has already received requests from Asian refiners to fill the void.</p><p class='black-text'>Gold is approaching its 200-day moving average, which investors will look at for support. Gold demand reports show that physical gold purchases have hit their highest levels since 2013 as central banks lead the way. Russia and China are the highest buyers of gold as they continue to move away from the US dollar.</p><p class='black-text'>Stock News</p><p class='black-text'>Square <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SQ"><span style="color:#333">(</span><span style=";">SQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SQ" 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="SQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were lower today despite the company reporting earnings and revenue that were better than expected. Investors focused on guidance for the current quarter, which was lower than expected. This sent shares back to February lows on volume that was well above average.</p><p class='black-text'>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> shares were back in the news today as the company announced a new capital raising program to add $2.3 billion in new funding. As of now, the company will offer 2.7 million shares and $1.3 billion in convertible notes to hit their funding goal. Shares have recently sold off under the long-term support area of $240, with many technical traders now eying the $200 level for future support.</p><p class='black-text'>Under Armpur <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UA"><span style="color:#333">(</span><span style=";">UA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UA" 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="UA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares traded in a wild range today as the company announced earnings that beat expectations by 5 cents along with revenue which came in higher as well. The report showed sales outside the US as improving, which allowed the company to raise full year guidance.</p> http://www.pws.io/markets-lower-post-fed Thu, 02 May 2019 15:16:22 -0400 Dustin Tibbitts Weekly ETF update. http://www.pws.io/weekly-etf-update <p class='black-text'>The markets remain near all time record highs as investors continue to respond to an earnings season that was way better than analysts had predicted. The S&P 500 <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" 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="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has hit record highs each day this week and historical performance following Federal Reserve meetings shows we could be in for more highs to come.</p><p class='black-text'>The Nasdaq 100 <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" 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="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> remains in a strong and clear uptrend but that trend has slowed a little following poor earnings from Intel as well as a touch of weakness across the tech heavy space. For now there is no arguing the strength of the QQQ which boasts about a 25% gain on the year.</p><p class='black-text'>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> have recovered slightly after a quick pullback last week. It was a busy week for earnings in the space last week which caused an uptick in volatility and a downtick in prices which came off 52 week highs. Intel <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/INTC"><span style="color:#333">(</span><span style=";">INTC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="INTC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="INTC" 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="INTC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has been a drag on the space since reporting their earnings which, at this point has caused the stock to lose over 10%. Though the Semis have seen some weakness in the short term trend is still clear to the upside with total gains still over 30% for the year.</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> has hit new highs again this week as the sector continues to enjoy a clear, strong uptrend. For the year the sector is higher by about 14% as investors note the earnings from many of the names which show higher prices for goods are still generally being absorbed by consumers. Technical traders note the next overhead resistance about 3% above current prices.</p><p class='black-text'>Communication Services <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLC"><span style="color:#333">(</span><span style=";">XLC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLC" 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="XLC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have been hit hard this week mostly thanks to Alphabet <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> which missed on earnings pushing shares to their lowest point in over a month. Shares of both classes of Alphabet make up a whopping 24% of the sector so it is easy to see why the XLC has pulled back off it's highs.</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> have cooled off this week following their impressive run up over the last few weeks on earnings. The rails reported earnings that were mostly better than expected and have been a supporter of the space but this week with the rails cooling off and a strong selloff from UPS <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UPS"><span style="color:#333">(</span><span style=";">UPS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UPS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UPS" 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="UPS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> the transports have pulled back towards some technical price support as well as the 200 day moving average. Market technicians will also note the golden cross.</p> http://www.pws.io/weekly-etf-update Wed, 01 May 2019 08:06:07 -0400 Dustin Tibbitts Stock market sells off on Fed Rate news. http://www.pws.io/stock-market-sells-off-on-fed-rate-news <p class='black-text'>The markets closed out the day lower following weakness that was building up prior to the announcement that the Federal Reserve would leave rates unchanged. The Dow 30 closed lower on the day by 164, the S&P 500 sold off 22 and the Nasdaq lost 45 with the bulk of the days losses coming in the last hour of the day.</p><p class='black-text'>Sector News</p><p class='black-text'>Transports continued to pullback towards their technical support levels along with the 200 day moving average today. The sector has pulled back recently as earnings excitement in the rails has cooled along with weakness in UPS <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UPS"><span style="color:#333">(</span><span style=";">UPS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UPS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UPS" 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="UPS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> continue to help the bullish pullback of the sector.</p><p class='black-text'>Technology <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> and <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/VGT"><span style="color:#333">(</span><span style=";">VGT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="VGT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="VGT" 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="VGT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> enjoyed strong moves to start the day which pushed both to new highs thanks to Apple's glowing earnings report. The VGT is made up of 15% Apple and the XLK is about 16% weighting which was the primary reason for the move to new highs today.</p><p class='black-text'>Stock News</p><p class='black-text'>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> was the big focus today as the company reported a textbook earnings for the prior quarter. Earnings beat by 10 cents a share along with revenue which beat by more than $500 million. The company showed an increase of their services revenue by 16% and guided higher by more than $1 billion as they expect gross margins to be close to 40%. They also raised their dividend to 77 cents and added $75 billion to their share buyback program.</p><p class='black-text'>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 gapped higher today as the company announced a beat on earnings along with higher earnings. Both earnings and revenue just beat expectations but the company showed margins increase by 5% which helped given the slowdown in the chip space recently. Shares are higher by over 50% in the year.</p><p class='black-text'>CVS Health <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> shares got a boost off lows today as the company announced an earnings beat by 12 cents. Revenue also beat Wall Street's expectations and the company raised their guidance for the year thanks mostly to the success off the recent buyout of Aetna. Despite this seemingly positive report shares are still lower on the year by over 10%.</p> http://www.pws.io/stock-market-sells-off-on-fed-rate-news Wed, 01 May 2019 08:05:47 -0400 Dustin Tibbitts Dollar breaks to highs. What to do with it? http://www.pws.io/dollar-breaks-to-highs-what-to-do-with-it <p class='black-text'>You may have noticed that the US Dollar broke to new highs last week. No? OK, let's talk about it. After almost exactly one year of sideways consolidation at highs, the US Dollar broke to highs, continuing its bullish efforts. Looking further back, you'll see that the dollar has really been in a wide range since 2015, but this latest move pushes it almost to all-time highs.</p><p class='black-text'>So, why talk about the dollar and how does it affect you? Well, when the dollar is strong it benefits companies that get most of their revenues here in the States. Just think, strong dollar, strong domestic growth for companies selling mostly or exclusively domestically. If the dollar stays strong, then these are the companies investors will be running towards.</p><p class='black-text'>So, how can you find opportunities from this dollar run? First, you could look at an ETF for the lazy man's way to invest in a strong dollar. You would be looking at the Russell 2000 <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/IWM"><span style="color:#333">(</span><span style=";">IWM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="IWM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="IWM" 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="IWM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> or, more specifically, the Russell 1000 <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/IWB"><span style="color:#333">(</span><span style=";">IWB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="IWB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="IWB" 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="IWB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. The Russell 1000 ETF currently holds companies that on average get about 76% of their revenues from their US efforts. If the dollar continues to be strong, then you'd expect companies in this area to start reporting stronger revenues.</p><p class='black-text'>If you wanted to go on a stock picking spree then you could search for names that have much of their revenues (or even 100%) of their revenues here in the states. The benefit of this is that you could drill down into particular sectors you may want to focus on. Like financials? Sallie Mae <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SLM"><span style="color:#333">(</span><span style=";">SLM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SLM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SLM" 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="SLM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is in that category and gets 100% of its revenues here in the States. If you like discounted stocks, then Wells Fargo <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WFC"><span style="color:#333">(</span><span style=";">WFC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WFC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WFC" 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="WFC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> may jump out at you. They also get 100% of their revenues here in the States but haven't really participated in this year's rally.</p><p class='black-text'>Maybe Consumer Staples are more your speed. If the dollar stays strong, then names in this space should do well - but what if the dollar does not continue and the economy weakens? Kroger <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> gets 100% of its revenues in the US, but if the economy weakens, people will still shop for groceries right? Constellation Brands <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/STZ"><span style="color:#333">(</span><span style=";">STZ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="STZ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="STZ" 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="STZ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> gets about 80% of their revenues here in the States and is in the alcoholic beverage space.</p><p class='black-text'>While none of these are specific recommendations now, hopefully this helps you understand how a strong dollar could be a tailwind for small cap domestic companies.</p> http://www.pws.io/dollar-breaks-to-highs-what-to-do-with-it Wed, 01 May 2019 02:48:19 -0400 Dustin Tibbitts Markets Mixed into Fed Announcement http://www.pws.io/markets-mixed-into-fed-announcement <p class='black-text'>The markets were mostly higher today ahead of Apple's earnings and the Federal Reserve's rate decision tomorrow afternoon. Due to that unknown, the S&P 500 was higher by only 2 in a relatively flat day of trade. The Dow 30 closed higher by 38 but the Nasdaq closed lower by 54 thanks in part to the selloff following Alphabet's earnings.</p><p class='black-text'>Sector News</p><p class='black-text'>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> have recovered slightly after a quick pullback last week. Last week was busy for earnings in the space, which caused an uptick in volatility and a downtick in prices, coming off 52-week highs. Intel <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/INTC"><span style="color:#333">(</span><span style=";">INTC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="INTC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="INTC" 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="INTC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has been a drag on the space since reporting their earnings which, at this point, have caused the stock to lose over 10%. Though the Semis have seen some weakness in the short-term, the trend is still clear to the upside with total gains still over 30% for the year.</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> has hit new highs again this week as the sector continues to enjoy a clear and strong uptrend. For the year the sector is higher by about 14% as investors note the earnings from many names. The uptick reflects higher prices for goods, which are still generally being absorbed by consumers. Technical traders note the next overhead resistance about 3% above current prices.</p><p class='black-text'>Communication Services <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XLC"><span style="color:#333">(</span><span style=";">XLC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XLC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XLC" 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="XLC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have been hit hard this week mostly thanks to Alphabet <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>, which missed on earnings, pushing shares to their lowest point in over a month. Shares of both classes of Alphabet make up a whopping 24% of the sector, so it is easy to see why the XLC has pulled back off highs.</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> have cooled off this week following their impressive runup over the last few weeks on earnings. The rails reported earnings that were mostly better than expected and have been a supporter of the space, but this week with the rails cooling off and a strong selloff from UPS <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UPS"><span style="color:#333">(</span><span style=";">UPS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UPS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UPS" 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="UPS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, the transports have pulled back towards some technical price support as well as the 200-day moving average. Market technicians will also note the golden cross.</p><p class='black-text'>Stock News</p><p class='black-text'>Alphabet <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> shares were sharply lower today as the company reported earnings that were better than expected but a miss on revenues. The miss came thanks to a dip in ad revenue, which was expected to grow by 24% but showed only 15%. Though the decline stopped at the 50-day moving average today, it still erased the entire month's worth of gains all in one day.</p><p class='black-text'>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> shares were sharply higher as well thanks to a beat on earnings. The company beat by 5 cents on revenue as expected. The CEO, who has had his hands full trying to streamline the company, also confirmed their 2019 projections, which were in line with Wall Street's expectations.</p><p class='black-text'>Western Digital <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WDC"><span style="color:#333">(</span><span style=";">WDC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WDC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WDC" 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="WDC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares were lower on the day thanks to a wide miss on earnings. The company earned 17 cents, which was well below the 46 cents expected, and revenue was a tough lower. Shares broke back below the 50-day moving average today where they closed.</p><p class='black-text'>McDonalds <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MCD"><span style="color:#333">(</span><span style=";">MCD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MCD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MCD" 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="MCD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> reported earnings that came in better than expected thanks to a boost in same-store sales. The company earned 3 cents more than expected on revenue that also beat. Shares remain near all time highs, bumping up against the $200 price level.</p> http://www.pws.io/markets-mixed-into-fed-announcement Tue, 30 Apr 2019 14:45:23 -0400 Dustin Tibbitts