Google introduced the mini program “Caihua Xiaoge”( or “Guess My Sketch”) on China’s largest social media platform WeChat.Mini programs are apps that users can access without having to install Google Play or Apple App store. Caihua Xiaoge is an AI-powered game in which players get to draw something on their smartphone/tablet in a limited time, so that Google’s AI software can identify the object drawn. In a nation where most of Google's apps/services including Google Play, Gmail and Youtube are banned, the company’s AI product on WeChat marks one of its rare (and therefore significant) connections with the Chinese market, following its investment of $550 million in Chinese e-commerce firm JD.com last month.

Comcast decides to no longer bid for 21st Century Fox’s assets, ending one of the biggest bidding wars in show business.But now, Comcast ‘s stepping back potentially clears the way for Disney to go ahead with its $71 billion cash-and-stock offer to buy Fox’s assets. However, Comcast is now eyeing Sky Plc.

Texas could surpass Iraq and Iran in oil production by next year, as suggested by a HSBC analysis. The rapid explosion of oil output from the state could catapult Texas to the position of the 3rd highest oil producer (behind Russia and Saudi Arabia)  if it were a country, according to HSBC. The two major oilfields of the state, the Permian Basin and Eagle Ford are projected to pump a combined output of 5.6 million barrels per day in 2019 – compared to 2.5 million barrels per day in 2014, according to HSBC analysis.Iraq and Iran are estimated to produce 4.8 million and 3 million barrels per day respectively next year. However, it remains to be seen if the Permian Basin can resolve its existing infrastructural/ logistical bottlenecks such as pipeline shortages, and how far it can channel its massive production potential into effective supply networks.

The European Union (EU) is readying its retaliation plan, in case U.S. President Donald Trump does not budge from his tariff threats for cars. Last month, Donald Trump threatened to raise tariffs to 20% from 2.5% on cars imported from the EU into the U.S., if an ongoing investigation convinces him that auto imports are indeed endangering U.S. national security.On Thursday, EU trade chief Cecilia Malmstrom announced that the region is preparing a list of “rebalancing measures” to be implemented if Donald Trump decides to go ahead with the tariff hike. Hoping to temper the trade tensions, European Commission President Jean-Claude Juncker will meet Trump on July 25 to propose  a lowering of levies on automobiles and auto-parts among  all major car exporters (akin to a plurilateral agreement), along with an expected free-trade offer. Following U.S. tariffs on aluminum and steel imports and the EU’s hitting back with levies on $3.3 billion of American goods, the next round

July 18, 2018 Dow gained +79 points to 25,200 while Nasdaq remained almost unchanged, but the market still produced some interesting winners and losers today. One of the huge winners was Berkshire Hathaway (BRK-A) that gained +5% to $303,210 per share and almost $50 billion in capitalization gain in just 1 day, because Warren Buffet announced more repurchases of its own stock soon.Another winner was United Airlines (UAL) that gained +8% to $79 per share due to a record profit forecast for 2018 and also reduction in new airplane purchases because of skyrocketing fuel costs. One of the big losers today was Clorox (CLX) that declined by -4% to $128 per share when Goldman Sachs downgraded the company saying it is overvalued, earnings are at risk and pricing headwinds can reduce revenue.

Mastercard got a patent that will allow them to conduct blockchain payments on their credit cards.This would provide a major inconvenience to everyone. 

As of today, Amazon's Chief Executive Officer, Jeff Bezos, is officially the richest person in the world with a Net Worth of $112 Billion!!With Bill Gates coming in second at $90 Billion. 

She points out to the run of Russell 2000 (the index of small-cap stocks) – is up almost 10% this year (through yesterday’s close). The run of FAANG stocks continues (Facebook, Apple, Amazon, Netflix and Alphabet).Where are we on the standard cycle of the investor's emotions: Optimism, Excitement, Thrill, Euphoria, Anxiety, Denial, Fear, Desperation, Panic, Capitulation, Despondency, Depression is anybody’s guess?

The buyback boom has seen by investors as a sign of confidence among business executives.  According to an analysis of regulatory filings by TrimTabs Investment Research, insiders sold $8.4 billion of their shares in May and $9.2 billion in June.Apple (AAPL) also announced plans last quarter for $100 billion in buybacks. However, according to an analysis from SEC Commissioner Robert Jackson Jr, insider selling increases immediately after buybacks are unveiled.

EU regulators have charged the Android developer for compelling smartphone makers into pre-installing Google Search app and Chrome as a condition for licensing Google Play store, and even paying them to bundle Google apps into the operating system in some instances. The investigation, started by EU regulators in 2015, apparently indicates that Google has been using its Android dominance to milk advertising and other revenues, while restricting choices for European consumers. Previously, EU had slapped $2.7 billion fine on Google in 2017 for unethically favoring its own shopping services over rivals on its search results.Adding the latest charge, Google potentially faces more than $7 billion in fines from the EU. Google however, argues that Android has actually enhanced consumer choice and that providing Android software free of charge to manufacturers has helped lower phone prices and therefore increased online usage by consumers.

Touted as ‘Amazon Prime Day’, the e-commerce giant’s massive discount event apparently saw several shoppers frustrated by technical faults on its website and app. In addition to speed bumps on shopping (mainly in the first hour of the event day that started at 3 P.M Eastern time Monday), customers also faced troubles streaming content on Amazon Prime Video and connecting to AI voice assistant Alexa – as indicated by user reports on DownDetector.com.Many people took to social media and tagged the event as “#PrimeDayFail”. The technical hiccups, however, could not stop this year’s Prime Day from outshining last year’s event.

While previously it did not allow itself to repurchase shares at prices 20% or more above its book value, Tuesday’s announcement from the firm indicates potentially less stringency going forward. According to the announcement, Berkshire's new policy would let CEO & Chairman Warren Buffet and Vice Chairman Charlie Munger buy back shares whenever they felt that the firm’s stock price was below its “intrinsic value, conservatively determined”.cash that would be available for shareholders) of the firm discounted to present value. With Berkshire's stockpile of cash ballooning to more than $115 billion by Q4 2017, and staying above $108 billion as of Q1 2018, many people might view the firm’s shift in buyback policy as a natural move.

Reason: EU tariffs.  EU has decided to slap 25% tariff rate on several goods it imports from the U.S. – as a retaliatory move against the U.S. government’s imports tariffs on European steel and aluminum.Seemingly unwilling to pass this cost to dealers and retail consumers, the motorcycle behemoth is considering moving some of its production away from the U.S. As it is, Harley Davidson has been trying to revive sales following a closure of its Kansas City plant in January as its shipments fell to a six-year low.

Reason: EU tariffs.  EU has decided to slap 25% tariff rate on several goods it imports from the U.S. – as a retaliatory move against the U.S. government’s imports tariffs on European steel and aluminum.Seemingly unwilling to pass this cost to dealers and retail consumers, the motorcycle behemoth is considering moving some of its production away from the U.S. As it is, Harley Davidson has been trying to revive sales following a closure of its Kansas City plant in January as its shipments fell to a six-year low.

As we wrote in our previous blog, while the external events have significant influence on the markets, they tend to be short-lived.The “real news” are in the earnings and we are witnessing the blood bath for one of the high flyers – Netflix (NFLX).

Wells Fargo released an earnings report earlier today, and it was to the disappointment of investors.This could be a slippery slope for the bank because as their profits and revenues decrease, they are increasing their expenses to employees. 

Broadcom LTD in its never-ending ambition to swallow as many companies as possible, made an offer to acquire a software company CA Inc for almost $19 billion in cash!Market does not like it…The stock is currently down 15%, and it might be worth looking at it.

While the markets are getting very tired of watching the never ending twits, articles, opinions, news, negotiations, remarks and speeches of all the pundits who know everything about the effects of the trade tariffs, the earning season is about to begin.Staring next week, we will see hundreds of earning reports - and this will determine the future direction of the markets.

His company’s new, mobile-friendly crypto exchange is designed to reflect this belief – and potentially point the direction for the future of cryptocurrency trading. “From a long-term perspective, we want to take a stand, and the first steps toward moving the market away from being tied to Bitcoin,” said Pankewitz.“There are thousands of projects in cryptocurrency — distributed apps, blockchain use cases, and smart contract platforms across every industry vertical…each has their own project, company, team, utility, levels of funding, traction, community, and business model.

Blockchain’s burgeoning popularity is piquing interest in new places.The National Telecommunications and Information Administration (NTIA), a branch of the US Department of Commerce, has identified blockchain’s potential to help American entrepreneurs.