While the June oil production data is still pending, it is safe to say that the June oil output from US shale producers - estimated today by the EIA at 5.348mb/d - will post the first double-digit production growth since July of 2015, when oil prices tumbled and a substantial portion of US production was briefly taken offline.
Chart courtesy of Forge River Research
As we noted first thing this morning, Mizuho downgraded Apple to neutral from buy, slashing its price target on the world’s largest company to $160 to $150 on the view that robust sales growth for the next product cycle has already been factored into the company's share price. Among other things in its report, Mizuho took a look at some of the company's key growth markets - notably India - to try and quantify the potential for sales growth in the coming years.
For 88-year-old Vanguard founder Jack Bogle, there is no better place to be invested right now than the U.S. and he's "all in" with his portfolio split between U.S. equities and bonds. In an interview with Bloomberg, Bogle makes the rather surprising argument that buying U.S. equities at record highs is a contrarian play.
Two weeks ago, in our latest comparison of Bitcoin and its up and coming competitor, Ethereum, we said "step aside bitcoin, there is a new blockchain kid in town." Actually, we said that for the first time back in February when Ethereum was still trading in the low teens (the return on ETH since then is roughly 3000%), but the most recent glance provided some perspective on where the competition between the two largest cryptocurrencies may culminate, because according to at least two venture capitalists, the market cap of Ethereum - currently roughly $35 bilion - and whose share of the mark
America's dying malls have been a frequent topic for us over the past couple of years. And, with the S&P soaring to new highs each and every day while completely shaking off a swath of retail bankruptcies that have left malls with no option but to fill their empty spaces with high schools, doctors offices and grocery stores, you can imagine our intrigue.