Welcome to the 106th edition of The Weekly Bull Report.
A shame to see all these
protests riots in the US… We should be celebrating and applauding the incredible achievement by Elon Musk’s SpaceX and NASA. 👏
Coronavirus infections and deaths continue to decrease in the US, the overall trend is now downward. ❤
Here’s a short list of content we found interesting and informative over the past week…
🤔 Interesting Articles & News:
- China approves controversial national security law for Hong Kong. 🇨🇳
- President Trump signed an executive order targeting social media companies by limiting the legal protection they’re given by law.
- Renault axes 15,000 jobs in cost-cutting reboot.
- Elon Musk has earned the first tranche of his performance-based pay for being CEO of Tesla. Musk, who doesn’t draw a salary, has been awarded $775 million in as an award for the stock hitting milestones.💰
- Another 2.1 million Americans filed for unemployment benefits last week, bringing the total job losses since the pandemic began to 41 million, or about one in four employed adults.
- Facebook’s new plan to make you shop on Instagram.
- CVS will begin delivering prescriptions via self-driving robots next month.
- SpaceX’s Crew Dragon capsule carrying NASA astronauts docks with the International Space Station.
MEDICINE & SCIENCE
- Baby Oscar first in world to get cannabis-based medicine in anti-seizures trial.
- ALS biomarkers discovered in teeth. (Our dear friend Jeffrey Forster of NY passed away after being diagnosed with ALS about 1 year ago. RIP buddy ❤)
- What near-death experiences reveal about the brain.🧠
- New therapeutics are testing whether protective bacteria can dampen harmful immune responses to food.
- This cancer-related gene may also hold the key to beating obesity.
- Young and healthy and waiting to get cancer. The hardest part of living with the BRCA1 gene.
- What do new neurons in the brains of adults actually do?
- How toxic protein spreads in Alzheimer’s disease.
CANNABIS & MUSHROOMS
- New study categorizes all the unexplainable experiences produced by psychedelic drugs.
- Psychedelic psychotherapy: The answer to addiction?
- Canopy Growth reshapes strategy after reporting CA$1.3 billion loss.
- New research reveals cannabis and frankincense at the Judahite shrine of biblical Arad.
- The two-time MLB All-Star had it all: A career worth millions, the love of a country and a marriage to an international music sensation. So how did he end up broke and in federal prison.
- UK Government allows live sport to return behind closed doors from June 1.
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💲 Noteworthy Stocks & Assets:
Carl Icahn sold his entire stake of 55.34M common shares in Hertz (NYSE:HTZ) for $0.72 per share. His six-year bet on Hertz cost him about $1.6B.
Weekly Market Movement Wrap
Dow +3.8% to 25,383. S&P 500 +3% to 3,044. Nasdaq +1.8% to 9,490. Russell 2000 +2.6% to 1,391. CBOE Volatility Index -2.3% to 27.51.
S&P 500 Sectors
Consumer Staples +2.9%. Utilities +4.9%. Financials +7.9%. Telecom -0.1%. Healthcare +2.1%. Industrials +6.7%. Information Technology +0.2%. Materials +4.6%. Energy +1.1%. Consumer Discretionary +1.3%.
London +1.4% to 6,077. France +5.6% to 4,695. Germany +4.6% to 11,587. Japan +7.3% to 21,878. China +1.4% to 2,852. Hong Kong +0.1% to 22,961. India +5.7% to 32,424.
Commodities and Bonds
Crude Oil WTI +6.3% to $35.34/bbl. Gold -0.2% to $1,731.6/oz. Natural Gas +6.2% to 1.839. Ten-Year Treasury Yield +0.1% to 139.33.
Forex and Cryptos
EUR/USD +1.85%. USD/JPY +0.19%. GBP/USD +1.46%. Bitcoin +2.6%. Litecoin +0.3%. Ethereum +6.%. Ripple -1.9%.
Top Stock Gainers
Arca Biopharma (NASDAQ:ABIO) +233%.
Mersana Therapeutics (NASDAQ:MRSN) +127%.
Esports Entertainment (OTC:GMBL) +107%.
Navidea Biopharmaceuticals (NYSEMKT:NAVB) +106%.
Adaptimmune (NASDAQ:ADAP) +89%.
Top Stock Losers
Minerva Neurosciences (NASDAQ:NERV) -75%.
Canaan (NASDAQ:CAN) -41%.
LA Jolla Pharma (NASDAQ:LJPC) -34%.
Aerocentury (NYSEMKT:ACY) -32%.
Arcturus Therapeutics (NASDAQ:ARCT) -28%.
Earnings spotlight: Dick’s Sporting Goods (NYSE:DKS), Tiffany (NYSE:TIF), CrowdStrike (NASDAQ:OTC:CRWD) and Zoom Video (NASDAQ:ZM) on June 2; American Eagle Outfitters (NYSE:AEO), Campbell Soup (NYSE:CPB), Canada Goose (NYSE:GOOS) and G-III Apparel (NASDAQ:GIII) on June 3; Broadcom (NASDAQ:AVGO), Ciena (NYSE:CIEN), DocuSign (NASDAQ:DOCU), Gap (NYSE:GPS), MongoDB (NASDAQ:MDB) and Slack (NYSE:WORK) on June 4: Kandi Technologies (NASDAQ:KNDI) on June 5
🎯 Stocks On Our Radar:
- AgeX (NYSE:AGE) Nice pop Friday: 1,13 USD +0,38
- Biohaven Pharmaceutical (NYSE: BHVN)
- FlooidCX Corp (OTC: FLCX)
- Portage Biotech (OTC: PTGEF)
- Wuhan General Group (OTC: WUHN)
🏆 Quotes That Inspire Us:
- “Never underestimate the power of stupid people in large groups.” – George Carlin
📖 Word Of The Week:
- Anecdotal adj. Based on casual observations or indications rather than rigorous or scientific analysis: “There is anecdotal evidence that the stock will soon double in price.”
❔ Did You Know:
- A jar of Nutella is sold every 2.5 seconds across 75 countries. 🥜
📽 A Must Watch & Listen:
- Barry Ritholtz speaks with David Rosenberg, who is president of Rosenberg Research & Associates Inc. From 2002 to 2009, he was chief North American economist at Merrill Lynch in New York.
📚 Books We Are Reading:
5 books on leadership and resilience Bill Gates thinks everyone should read this summer.
- “The Choice“ by Edith Eva Eger
- “The Great Influenza” by John Barry
- “Cloud Atlas“ by David Mitchell
- “The Ride of a Lifetime“ by Robert Iger
- “Good Economics for Hard Times“ by Abhijit Banerjee and Esther Duflo
🤣 One Liners:
- @sammorril: Just got disconnected from a friend on FaceTime and neither of us called the other one back. That’s real friendship.
📆 Upcoming Events:
- Psychedelics and Our Sense of Self: Implications for the Treatment of Depression
- June 30, 2020 – 11am EDT / 4pm BST / 5pm CEST
Our very best wishes for a brilliant upcoming week! 💪
The IBR Team