| | Urgent New Crypto Alert – BUY BUY BUY | | | | | Silicon Valley millionaire Jeff Brown called it in 2014, when he first bought Bitcoin. In 2015, he called it again, when he publicly recommended Bitcoin at $240... In 2016, he recommended Nvidia at $25... before it hit $799... and he predicted the #1 returning tech stock in 4 years out of 5... In 2017, he called it again – when he recommended Bitcoin again along with two other cryptocurrencies, which have since soared as high as 924.3%... Now he believes THIS could be his most profitable public recommendation to date! Click here for the full details on his urgent new buy alert before it expires. | | | | | | DOW 35,499.71 | +0.04% | | | | S&P 4,460.82 | +0.29% | | | | NASDAQ 14,816.26 | +0.35% | | | | *As of market close | | • | Stocks barely broke higher on Thursday, recovering from morning losses. | | • | Oil declined 0.4 percent, closing at $68.97 per barrel. | | • | Gold rose 0.1 percent, last going for $1,755 per ounce. | | • | Cryptocurrencies pulled back, with Bitcoin at $44,409 at the stock market close. | | | | | | | | | | • | Home Prices, Sales Continue Rise
The media sales price for a single-family home rose in 182 of 183 metro areas in the second quarter of the year. In 94 percent of those areas, prices were up more than 10 percent from the prior year. Overall, average sales prices were up 22.9 percent in the second quarter compared to a year ago. While prices have been high, sales are on the rise as well, a sign of a potential slowdown in further price appreciation. | | | | • | Producer Price Inflation Rises 7.8 Percent
Producer price inflation, which measure the prices that producers receive for their goods and services, rose 7.8 percent for the 12-month period ending in July. That's a new record high since the index was created in 2010. Economists generally expect the rate to come down, as inflation measures have stopped rising in a number of other indices. | | | | • | Lumber Prices Stabilize
One piece of good news on the inflation front: Lumber prices have now dropped nearly 70 percent from their peak set in May. Prices are looking to potentially stabilize around $500 to $600 per 1,000 board feet. That's still higher than pre-pandemic levels, but should help moderate rising costs on any product that uses lumber, notably new homes. | | | | • | Jobless Claims Drop for Third Straight Week
New claims for jobless benefits totaled just 375,000 last week, a decline for the third straight week. Last week's numbers of 385,000 were slightly revised upwards by 2,000. This still marks the lowest level since March 2020, but still remains at elevated levels. | | | | • | TaxBit Raises $130 Million at $1.33 Billion Valuation
TaxBit, a software company providing tax and accounting software for the crytpo space, has raised $130 million in Series B funding. It last raised $100 million in a Series A funding just 5 months ago, and now has become a unicorn with a valuation of over $1.33 billion. The company was founded in 2017. | | | | | | TOP | | OGN | 11.928% | | | COO | 7.82% | | | IT | 2.924% | | | CRM | 2.522% | | | J | 2.505% | | | BOTTOM | | WDC | 6.505% | | | MU | 6.371% | | | AMAT | 4.154% | | | KLAC | 4.13% | | | LRCX | 4.11% | | | | | | | | | Inflation has, at a minimum, paused. For both the headline and core figures, the monthly and annual numbers were stable or down from last month. Based on that data, inflation is certainly not on an unstoppable increase. | | - Brad McMillan, chief investment officer at Commonwealth Financial Network, on why inflation rates are likely to moderate in the coming months, which should be conducive to the stock market continuing higher from here. | | | | Biden About to Unleash Bitcoin Crackdown? | | | | | Silicon Valley millionaire Jeff Brown called it in 2014, when he first bought Bitcoin. In 2015, he called it again, when he publicly recommended Bitcoin at $240... In 2016, he recommended Nvidia at $25... before it hit $799... and he predicted the #1 returning tech stock in 4 years out of 5... In 2017, he called it again – when he recommended Bitcoin again along with two other cryptocurrencies, which have since soared as high as 924.3%... Now he believes THIS could be his most profitable public recommendation to date! Click here for the full details on his urgent new buy alert before it expires. | | |
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