Stocks Slip as Grim Economic Realities Sink In

[Click to view in browser](. Jul 31st 2020 Dear InvestingChannel Reader, Dark clouds of economic uncertainty have settled over financial markets on the final trading day of July 2020. The U.S. dollar remained under pressure Thursday after the latest GDP report showed a record decline in economic growth of 32.9% in the second quarter; the greenback, which is rebounding modestly Friday, is on pace for the worst monthly loss against other major currencies in more than a decade. Stocks are mixed as blowout earnings from mega-cap tech companies helped offset grim economic realities. Facebook (FB), Apple (AAPL), and Amazon (AMZN) rallied around their results. Merck (MRK) is also sporting gains, but Chevron (CVX) and Exxon (XOM) are seeing notable post-earnings weakness. The S&P 500 is flat into midday, while the Dow is in the red and the Nasdaq is seeing relative strength. On the economic front, data released Friday morning showed personal incomes up less than expected in June, while spending decreased more than expected. Chicago PMI showed a surprise uptick to 51.9 from 36.6, while Univ. of Michigan Consumer Sentiment Index finished the month at 72.5, which was slightly below expectations. Treasuries are modestly lower on the data and amid end-of-month position squaring. However, the yield on the benchmark ten-year Treasury, which moves opposite to price, is near the lowest levels since March after a steady decline since early June. Crude oil is flat Friday, while gold added another $20 and on pace to settle near the best levels of the week at $1,985. Another flood of earnings results and a boatload of economic data, concluding with monthly jobs numbers Friday, greet investors next week. Meanwhile, here are some of the other stories that caught our eye: - [One Day After Congressional Drilling, Big Tech Asserts Dominance]( - [U.S. Spending Rises, Incomes Drop Further]( - [European Shares Rebound, Euro on Track for Best Month in a Decade]( - [Oil on Track for Monthly Gain as Weaker Dollar Supports]( - [Exxon Loses $1 Billion as Oil Use Dries Up]( - [Berkshire Boosts Bank of America Stake to 11.8%]( - [Plasma Stocks Move After Trump Roundtable on COVID-19]( - [NBA Returns to Action]( - ….[and so Does the NHL]( - [Private Browsing Isn’t as Anonymous as You Think]( [Are you adding real estate to your portfolio?]( History shows that diversification into real estate—like with multifamily commercial real estate investments—can reduce volatility and increase investment performance over the long haul. [Get started with DiversyFund.]( Sponsored by DiversyFund Qualcomm call options see notable buying interest. [Options Bulls Circle Qualcomm After Earnings Blowout]( [(Barchart)]( The options activity has been looking notably bullish, per QCOM's 10-day call/put volume ratio of 5.31 [Click here to read more.]( [Learn How Stock Dividends Can Affect Option Prices]( Dividends can have a significant impact on an option’s price — this is critical for both buyers and sellers to understand. Learn more by attending a free webinar, The Dividend Effect, presented by OIC. [Sign up now to watch for free.]( Sponsored by The Options Industry Council The top 10% of households account for 50% of consumption. [The Next Leg Down: The Top 10% Are About to Take a Hit]( [(Of Two Minds)]( No federal bailout or stimulus can reverse these three dynamics, and no amount of legerdemain can replace the spending of the top 10%. [Click here to read more.]( Crypto Haters Are Getting in on the Action. [Is Cryptocurrency Here to Stay This Time?]( [(Benzinga)]( As bitcoin passes $10,000 for the first time in months, the conversation around crypto is heating up again. [Click here to read more.]( [Man Who Predicted 2020 Gold Rally Issues New Call]( Sponsored by [Stansberry Research]( Gold expert explains why massive shift happening right now in the financial markets could create biggest opportunity in last 100 years. [Click here to know more]( [Paypal Set to Make Cryptocurrency Trading Mainstream?]( by [InsiderMonkey]( Last month, rumors began circulating that online international payment giant was entering the cryptocurrency industry. [Read more.]( [Forex Trading Strategies in a Wider Portfolio]( Sponsored by [IG Markets]( Trading on forex markets can be an effective way to strengthen a portfolio and balance risk. Read on to find out how forex trading strategies can align with other forms of trading and what skills are shared between these. [Click here to learn more.]( Copyright 2020, InvestingChannel, All Rights Reserved | [Privacy Policy]( [InvestingChannel, Inc.]( P.O. Box 118 New York, NY 10018. To unsubscribe, [click here]( [Link](