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Morning Coffee: Facebook to report after the bell. Bitcoin sees $8k

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Stocks and Securities

U.S stocks futures are set to open higher this morning in light of the positive earnings reports from companies such as AT&T (NYSE:T) – rev. miss $38.99 vs $39.39 est, EPS beats $0.91 vs. $0.85 estTexas Instruments (NYSE:TXN) rev. beat $4.02B vs $3.69B est. EPS $1.40 vs $1.03 estVerizon (NYSE:VZ) rev. beat $32.2B vs. $30.05B EPS $1.00 vs. $1.07 estLockheed-Martin (NYSE:LMT) rev beats $13.40B vs 1$2.73B EPS $4.05 vs $3.28 est and United Technologies (NYSE:UTX) rev. beat $16.7$ vs $16.27B EPS $1.97 vs $1.85 est.

Tuesday’s early move higher for the Nasdaq had resulted in a fresh intraday record for the benchmark, with the market having been powered by optimism around a recent batch of second-quarter earnings. To be sure, the Nasdaq has outperformed its peer benchmarks since a February selloff sent the S&P 500 and the Dow into correction territory, typically defined as a decline of at least 10{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} from a recent peak.  However, to much surprise, the technology-laden gauge saw its biggest reversal from a gain since Feb. 21. At its peak, the index was up Tuesday by as many as 86.92 points, a gain of about 1.1{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}, only to limp out of the session with a minor loss.

Still, strong earnings have gone a long way in bolstering investors’ confidence with second-quarter earnings jumping more than 20{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}. The mix of robust economic data and double-digit earnings growth suggest that the odds of the S&P 500 retaining month-to-date gains until the closing bell on July 31 are fairly high. Since 1928, there have been 12 years in which the market has risen from April to July and every time, stocks have finished higher at the end of the year, with average annual gains of 1.8{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}.

 Notables: Gilead Sciences (NASDAQ:GILD), Facebook (FB), Qualcomm (NASDAQ:QCOM) and Ford (NYSE:F) today.

Dow Industrial AverageS&P 500Nasdaq 100Russell 2000













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Notables: Gilead Sciences (NASDAQ:GILD), Facebook (FB), Qualcomm (NASDAQ:QCOM) and Ford (NYSE:F)


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Notables: Amazon (NASDAQ:AMZN), Chipotle (NYSE:CMG), Under Armour (NYSE:UAA), Starbucks (NASDAQ:SBUX), Intel (NASDAQ:INTC), McDonald’s (NYSE:MCD), Mastercard (NYSE:MA) and PayPal (NASDAQ:PYPL)


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Notables: Twitter (NYSE:TWTR), ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX) and Merck (NYSE:MRK)

This week, we are buyers of Visa Inc. (V)Mastercard Inc. (MA), Macdonald Corp. (MCD) and Spotify Technology SA (SPOT) into earnings and we will use any weakness in Amazon Inc. (AMZN) and Facebook Inc. (FB) post earnings to add shares.

In the oil patch, which we still remain positive on Oil prices rose as the market shifted focus to the possibility of increased Chinese demand, drawing attention away from oversupply worries and trade tensions between China and the United States. Brent crude settled 38 cents higher at $73.44 a barrel, after it reached a session high of $74. U.S. West Texas Intermediate (WTI) settled up 63 cents, or nearly 1 percent, to settle at $68.52. Earlier in the day, WTI reached a high of $69.05.


Blockchain and Cryptocurrency

Bitcoin (BTC) and Ethereum (ETH) both had an interesting 24 hours. The Bull market seems to be gaining more and more momentum. The price of Bitcoin (BTC) went as high as $8400, only to settle up 2.52{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} to $8200, while Ethereum (ETH) up slightly trading at $470. Market capitalization increased from $292B USD to $297B USD which is a 1.7{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} increase in just 24 hours. This 24 hour volume of $20.5B is up more than $3B compared to Tuesday. BTC dominance of 47.3{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} is 1{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} higher compared to Monday as well. Yesterday, we wondered if Bitcoin (BTC) could surpass the $8000 level and it did. Does Bitcoin (BTC) have enough juice to make it to $9000 before the weekend?

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







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

It appears that the Bank of England has begun to make significant changes to its interbank payment system. According a published report, they have tested the feasibility of connecting blockchain firms to an updated version of the bank’s Real-Time Gross Settlement (RTGS) service.

It appears that Bitcoin (BTC) has made another significant step towards becoming an financial instrument. It appears that for the first time ever, there was an exchange for physical (EFP) transaction involving Bitcoin Futures. It appears that two institutional traders swapped their position in CME’s bitcoin futures market for physical Bitcoin (BTC).


Stocks on the Radar

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

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

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Dr. Tiam Feridooni

Written by: Dr. Tiam Feridooni MD, PhD, BSc Dr. Feridooni, graduated from Dalhousie Medical School in May, 2018. Prior to enrolling in medical school, he completed his Bachelor of Science with Honours in 2010 in Biochemistry. He then obtained his PhD at Dalhousie University in Pharmacology in 2014, with a focus around regenerative medicine and stem cell transplantation. Dr. Feridooni has been published numerous high impact journals and has also co-authored a few books.

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