Facebook’ Power Play

Facebook’s Power Play Last week, Facebook [NASDAQ:  FB] finally announced its long-rumored digital currency initiative.  Although bitcoin had been rallying since April, since the announcement it has risen almost 25%, as of this writing.  Why the boost for bitcoin?  Won’t FB’s currency — called “Libra” — be competition for bitcoin?  Read more…

Morgan Stanley Goes Where the Money Is

Morgan Stanley [NYSE:  MS] is acquiring a Canadian firm, Solium Capital, which manages stock-compensation plans for about 3,000 companies.  Collectively, Solium’s clients have a million employees — disproportionately young, and disproportionately employed in high-tech, high-growth startup companies (including, for example, Nextdoor, Sonos, Dropbox, Stripe, and Instacart).  This acquisition makes sense Read more…

Market Summary

The U.S. Economy and Stock Market Fundamentally, the U.S.  economy continues to be strong, and recent data indicate that the trend will continue. Fundamental stock market indicators are bullish.  Corporate profit growth is strong, exceeding 23% for the first six months.  Strong corporate profits are positive and correlated with stock Read more…