News 

Op-Ed: John McCain’s health-care vote is no ‘profile in courage’

“He wanted to empower consumers to find the best health care and even end the tax break for employer-sponsored plans” writes John Fund for cnbc.com. In 2008, presidential candidate John McCain bravely proposed a health-care reform that Fortune magazine said was a giant step toward “laissez faire liberty” in health care. Source: cnbc.com Share This:

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Futures Markets News 

Asian shares to digest White House upheaval; Caixin PMI, RBA ahead

“The dollar index, which tracks the U.S. currency against a basket of six rival, tumbled overnight to its lowest levels since May 2016” writes Cheang Ming for cnbc.com. The dollar index stood at 92.863 at 6:45 a.m. The dollar last fetched 110.29 yen, lower than levels around the 111 handle seen last week. Source: cnbc.com Share This:

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News Oil 

Oil surges into the close to settle above $50, posts best monthly gain since April 2016

“U.S. crude oil surged into the close of trading to settle above the key psychological level of $50 a barrel” writes Tom Dichristopher for cnbc.com. Still, hedge funds and money managers have begun raising their bets that oil prices will rise in recent weeks.U.S. West Texas Intermediate crude ended Monday’s session up 46 cents at $50.17, its first close above $50 a barrel since May 24. The volume of bullish bets on U.S. crude mostly fell from the end of February through the end of June. Source: cnbc.com Share This:

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News Stocks 

Cramer tracks the not-so-failing New York Times amid ‘fake news’ of its demise

“Bizarrely enough, when you look at The New York Times as a company and as a stock, it’s not failing” writes Elizabeth Gurdus for cnbc.com. In 2016, ad revenue declined again by over 9 percent, though digital-only subscriber growth accelerated healthily.OK, newspaper companies like the Times make their money in two ways: from circulation fees — meaning selling subscriptions — and from selling advertising,” Cramer said. Source: cnbc.com Share This:

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News Stocks 

Oppenheimer raises S&P 500 forecast to second-most bullish on Wall Street

“Including the Oppenheimer forecast, the median year-end S&P 500 target of 16 strategists surveyed by CNBC is 2,475, just three points above where the S&P closed Friday” writes Pablo Blazquez Dominguez for cnbc.com. Oppenheimer’s John Stoltzfus raised his year-end S&P 500 target 200 points on Monday, based on expectations of better earnings and economic growth.His new 2,650 target reflects a 7 percent gain from Friday’s near-record close of 2,472 and is the second-highest of the 16 strategists surveyed by CNBC. Only Morgan Stanley’s 2,700 target, officially a 12-month forecast, is…

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News Regulators 

Debt ceiling fears are casting a shadow over Fed plans

“However, any attempt by conservative Republicans to advance their broader public spending agenda in a debt ceiling bill would likely be immediately rebuffed by Democrats” writes unknown author for cnbc.com. Rightwing Republicans, including the Freedom Caucus, have said they will only sign up to legislation addressing the debt ceiling if they get tough conditions on spending attached.On top of this, the Trump administration has been sending confused signals over its debt ceiling strategy.The Treasury bumped up against the debt limit in March, so it has since then been using so-called…

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News Oil 

Shell is planning to cut more than 400 jobs in the Netherlands

“Royal Dutch Shell Plc plans to cut more than 400 jobs in the Netherlands, mainly at its major projects and energy technology operations, as the oil giant shifts its business model in response to lower oil prices, according to an internal document seen by Reuters” writes Andrey Rudakov for cnbc.com. “Shell is transforming into a simpler company,” a spokesman said, adding the final number of job cuts would be subject to consultation with employees.The world’s second-largest oil company by market capitalization said in a statement responding to questions from Reuters…

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News 

Start-up Helix wants you to care about your DNA — with help from marketers

“But most healthy people don’t seem to care all that much about their DNA. A startup called Helix is trying to change that” writes unknown author for cnbc.com. The company also offers health applications, like an inherited diabetes and cholesterol test, and its other categories are fitness, entertainment, nutrition, and ancestry.The company launches this month with more than a dozen genetic tests in categories ranging from health to entertainment.Bay Area-based Helix is a spinout of Illumina, a biotech company that develops DNA sequencing machines. Source: cnbc.com Share This:

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Cowen says Microsoft’s profitability worries are overblown, predicts more than 15% rally

“However, Cowen predicts the worries are overstated and the software giant will report profitability above expectations” writes Amit Madheshiya for cnbc.com. Microsoft shares slightly declined in early Monday morning trading.Microsoft shares are falling, in part because the company gave declining profit margin guidance for the next fiscal year during its mid-July earnings report.”There are multiple levers of upside to FY18 revenue and EPS (namely, Azure, O365, gross margins, phone hardware sale and mix shift).”.  Source: cnbc.com Share This:

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News 

The dollar is doing something it hasn’t done in 6 years. Here’s what it means

“The dollar index turned red midday Monday following news that the president’s communications director, Anthony Scaramucci, would leave the administration” writes unknown author for cnbc.com. The dollar index just closed its fifth straight month of losses, its longest monthly losing streak since 2011.For this reason, Morganlander said he wouldn’t be “such a dollar bear at this point.”. That should bring some more life, or breathe some more air, into the U.S. dollar,” Chad Morganlander of Washington Crossing Advisors, said Monday on CNBC’s “Trading Nation.”. The dollar index, which measures the…

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