Tale of the Tape
Happy Friday all of you Stock market freaks out there. It’s the last Friday in July so you know what that means – Summers Over! 😢
Sorry.
Anyways, it’s a party weekend, even if you’re quarantined so mix yourself a double and settle into the Daily Rip.
Apple gained 10% today after reporting earnings last night and announcing the 4 for 1 stock split. The largest US company gained $170B in market capitalization in one trading session. JFC. What’s more, Apple is now the world’s most valuable company passing Saudi Aramco. Damn…
Supposedly, Microsoft is in talks to buy TikTok US. See more below.
If we’re reading this correctly, Newmont Mining closed at an all-time high today for the second time this year. What a freak and may the miners remain forever blessed. 🙏
Oh, and energy sucks. See more below.
Here’s your closing weekly prices on the major equity indices:
| S&P 500 | 3,271 | +0.77% |
| Nasdaq | 10,745 | +1.49% |
| Russell 2000 | 1,480 | -0.98% |
| Dow Jones | 26,428 | +0.44% |
It Be Like That Sometimes
Below is the S&P 500 heat map from today. You see the 3 massive green islands that dominate the field?
Amazon, Apple, and Facebook all posted strong outings following earnings last night. Poor Google couldn’t hang…
The rich get richer.
It be like that sometimes.
Rumors and Tumors: TikTok Edition
Today, Bloomberg reported that President Trump was preparing to order Chinese owned ByteDance to divest from TikTok.
Soon after, Fox News’ Charles Gasparino reported that Microsoft was in talks to buy TikTok’s US operations.
Look, anything can happen. It’s 2020 for God’s sake. But really we have no clue. We live in a world where all information is noise. Fair is foul, eye of newt, fog of war, 24/7/365.
So who knows.
We’ll tell you this. If lil Softie takes TikTok US operations, all of a sudden, TikTok goes from being a surveillance tool of our enemy China to being a surveillance tool of the good old US of A. No offense intended and with all due respect Mr. Nadella. Nudge Nudge…
Is Energy Dead? 💀
Oil titans Exxon Mobil and Chevron reported earnings this morning and it was a mess. Both companies saw revenue drop 47% YoY. First oil goes negative, now the companies under deliver on already low expectations? 2020 has been tough on the energy industry. 😳
Below is a chart of the energy ETF, $XLE circa 1999. You can see $XLE is trading below its lows from the Great Financial Crisis. oof.
Weekend Sports?
Guess what, people. We have more live sports this weekend than we’ve had for what seems like a decade. Check this out.
The NHL aint messin’ around. The 2020 Stanley Cup Qualifiers kick off this weekend. We’ll get 5 games a day on Saturday and Sunday and then 6 a day starting Monday. hot damn 🔥 👀
Here’s a quality breakdown of how the NHL playoffs will work post-COVID.
And don’t forget, the NBA is back in full force too. 😉
Here are a few games we’re looking forward to:
7/31 Houston vs Dallas 9ET ESPN
8/1 Miami vs Denver 1ET ESPN
8/1 New Orleans vs LA Clippers 6ET ESPN
8/1 LA Lakers vs Toronto 8:30ET ESPN
Links That Don’t Suck
🚲 Coronavirus Accelerates Plans to Put Urban Commuters on Bicycles
🏓 Why Tech CEOs in DC is a Waste of Time
🏠 Two Friends Quit Their Jobs to Build a Cabin. Everything Went Wrong.
📖 Can’t Travel to Italy This Summer? Read This Book Instead
▊ The Heller House by Frank Lloyd Wright
👶🏼 17-year-old accused of masterminding Twitter Bitcoin scam
🚮 America’s Leadership Failure With COVID-19
Have a Wonderful Weekend, Y’all.
