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Morning Coffee: Dow Plunges as trump aims at Chinese investment in key technologies in the US

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Stocks on the radar overview


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Stocks and Securities

The trading week was set to kick off on a downbeat note on Wall Street Monday, as Dow futures fell more than 150 points [stock_quote symbol=”DJIA”] , dragged lower by a sharp drop in the price of Brent crude and by fresh threats from President Donald Trump against the U.S.’s trading partners.

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The Trump administration is set to announce measures this week cracking down on Chinese investment in key technologies in the United States. The planned US restrictions on Chinese investments in “industrially significant technology” are in large part fuelled by American concerns about “Made in China 2025,” Beijing’s plan to boost industries like robotics, electric cars and aerospace with the aim of becoming a global leader in those areas.

Weakness in oil prices could also be a factor for perceived riskier assets such as equities on Monday. OPEC ministers have said that the agreement is to raise output by 1 million barrels, but that’s not in the statement the group provided. Nigerian oil minister Ibe Kachikwu said the 1 million-barrel agreement would see OPEC members raise output by at least 700,000 barrels a day, with non-OPEC countries, led by Russia, adding the rest. For most observers, the agreement falls short of balancing global oil supply and demand.


Blockchain and cryptocurrency

While stocks are set to open sharply lower, Goldman Sachs CEO Lloyd Blankfein may have given a boost to the price of bitcoin. In a recent interview at the Economic Club of New York, he adopted a cautiously positive tone towards bitcoin, terming it a “consensus currency” similar to fiat currencies. He had criticized bitcoin last November and called it a vehicle to perpetuate fraud. Blankfein’s remarks come as his investment firm makes plans to enter the world of cryptocurrencies by opening a futures trading desk.

Additionally, AliPay CEO Jack Ma, confirmed a successful 3-second block chain remittance which he and his team plan to expand worldwide. It was reported that he and his team have developed and piloted its “first blockchain-based electronic wallet cross border remittance service” between Hong Kong and the Philippines. Thus, allowing for AliPayHK and GCash, which is a Filipino payment app, to become compatible with AliPay.


Stocks on the Radar

The market is looking weak this morning and therefor we do not have any stocks on the radar for today. However, we would like to highlight Annaly Capital Management (NLY) again and to remind our readers of the June 30,2018 record date for a $0.30 dividend.

Sarepta Therapeutics (SRPT) [stock_quote symbol=”SRPT”] has been showing a healthy pullback from its recent highs due to positive findings in their early-stage study testing gene therapy in patients with Duchenne muscular dystrophy.

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Alnylam Pharmaceuticals (ALNY) [stock_quote symbol=”ALNY”] plans to present at an upcoming event June 26 at the 2018 RNAi Roundtable.

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Viking Therapeutics (VKTX) [stock_quote symbol=”VKTX”] our thesis for our picks have no changed. On Friday’s trading session, as we mentioned, we saw VKTX regain some lost ground by bouncing more than 4{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}. 

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Netflix (NFLX) [stock_quote symbol=”NFLX”] to continue to gain momentum as they are to release earnings mid-July

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Box Inc. (BOX) [stock_quote symbol=”BOX”] While the shares have seen a minor pullback, readers should consider using any weakness to accumulate as the shares should trend towards the $40 mark in the coming months.

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Synaptics Inc. (SYNA) [stock_quote symbol=”SYNA”] We believe that they could be acquired by Dialogue Semi for about $65/share – approximately 20{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} potential gain. The price could drop to about $48/share – approximately 10{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} – if the deal is nixed.

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Spotify Technology SA (SPOT) [stock_quote symbol=”SPOT”] with a recent price target of $250/share and the growth that Spotify has shown, we believe that the bullish case for Spotify remains intact.

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Disclaimer: The above references an opinion and is for information purposes only.  It is not intended to be investment advice.  Seek a duly licensed professional for investment advice. The Author does not hold any of the securities discussed above.

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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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