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T3's Take 3: Commodities Dive, Paypal Arrives, and NASDAQ Flies


Today's financial recap and tomorrow's financial outlook.

Today on T3 Live

Marc Sperling, co-founder of T3 Companies, named BioCryst Pharmaceuticals (BCRX) his trading idea of the week. He believes that biotech is the strongest sector in the market. BCRX broke out in May in of this year, rallying from $9 to just under $17. Now the stock is in another possible month-long consolidation period that could send it higher.

Commodities Dive

Gold prices hit a five-year low, triggered by heavy selling overnight and expectations of weaker demand from Chinese. Reports indicated that China was stockpiling gold reserves at a lower rate than investors were expecting. Prices fell as much as $40 an ounce within minutes of the Asian open last night before stabilizing.

The expected Fed interest rate hike is also weighing in on gold prices.

Platinum prices fell 2%.

Oil prices slumped below $50 a barrel for the first time since April as concerns of oversupply conditions pushed prices down.

While oil consumption has increased this year, analysts are saying that demand still isn't meeting supplies.

Plus the approval of the Iran nuclear deal could mean a great quantity of fresh crude hitting the market.

Paypal Back on the Market

Paypal (PYPL) shares finished up 5.4% on their first day of trading. Several analysts announced their price targets for the company, with most coming in around of $45. Investors are speculating that the company may become the target for a takeover from companies such as Alibaba (BABA), or Amazon (AMZN). During an interview with Bloomberg, CEO Daniel H. Schulman stated that he believes that won't be the case and that Paypal itself will acquire companies and continue to grow.

Paypal's market cap came in 40% higher than that of EBay (EBAY)

EBay shares opened lower as the company received downgrades upon its split with Paypal. Shares were able to pickup as the day progressed and finished up 2.4%.


GoPro (GPRO) and Ambarella (AMBA) shares each rallied hard ahead of GoPro's earnings release tomorrow. GoPro announced a partnership with car manufacturer Toyota in order to mount a GoPro camera on the roofline of every new 2016 Toyota Tacoma. GoPro will announce its Q2 earnings tomorrow after the close.

Ambarella shares seem to be heading back towards its previous rally levels. The stock at a all-time high of $128.06 last month.

Apple (AAPL) shares rallied 1.9% a day ahead of its earnings report tomorrow. Investors will be very curious about the company's commentary on its new Watch product line. The company has said it will not announce specific numbers, so management's comments will be in close focus.

The rally in tech companies pushed the NASDAQ to a new all-time high of 5231.94.

Tuesday's Financial Outlook

There are no major US economic data reports scheduled for tomorrow.

Overseas data will include Swiss trade balance, Britain's public finances, and the Australian consumer price index.

Tomorrow, Bakes Hughes (BHI), BNY Mellon (BK), Harley-Davidson (HOG), Infosys (INFY), Manpower (MAN), Novartis (NVS), SAP (SAP), United Technologies (UTX), and Verizon (CZ) will announce earnings before the open.

After the close we'll hear from, ACE Limited (ACE), Apple (AAPL), Chipotle Mexican Grill (CMG), Microsoft (MSFT), VMWare (VMW), and Yahoo! (YHOO).
No positions in stocks mentioned.
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