Apple had to get one of the most back-handed price target increases in history. The Goldman Sach’s analyst raised the target from $263 to $299 and said that investors should “avoid” the stock as its rally is “unsustainable.” Of course, the price target increase is over $70 less than its current price, but it drives home the notion that bears are starting to feel emboldened and the aging bull is getting tired.
Now here’s the rest of the news:
July 24, 2019
“Weed legalization gets bipartisan support” (no joke)
This ’tidbit’ originally appeared in Wealth Daily.
“US lawmakers look to legalize pot in ‘historic’ marijuana reform hearing”
That was the headline from CNBC last week, after congressional committee members convened for the first-ever hearing on ending marijuana prohibition in the U.S.
In case you didn’t get that, let me say it one more time: the first-ever hearing on ending marijuana prohibition in the U.S.
Fox Business echoed CNBC’s reporting, saying, “Marijuana legalization gets bipartisan support in ‘historic’ hearing.”
The development deserves repeating because of how incredibly monumental it is for the marijuana industry and its investors.
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U.S. home prices have been on the rise since 2013, but wage growth reveals people are working more for less purchasing power. It looks like there’s a fatal flaw in the Fed’s monetary policy, and it’s asset buyers who could be paying the price in the form of inflation. (Even shinier … gold.)
All this as gold’s summer sparks could continue into next Fall. (As recession fears persist, one research firm says the stellar movements gold has seen seeing this summer should continue into the next quarter.) This Week’s Quote comes from Andrew Addison:
“The price of gold has gained 9.6% to $1404.30 an ounce this year, and my work projects the precious metal will move substantially higher from current levels as it starts a new bull market. The fundamentals and technicals are aligned for gold to maintain its upward trend in the coming months.”
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Oh! Did you hear the rumor about butter? Well, I’m not going to spread it!