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The Capitalist Newsletter – July 14, 2017

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TRUMP CIRCLES BACK TO CHINA, STEEL; CONSIDERS QUOTAS & TARIFFS TO SAVE U.S. STEEL

Since his presidential campaign, President Trump has harped on cutting the national deficit and increasing infrastructure spending to improve the country’s roadways and systems. That all relies on steel. And the steel industry as a whole has struggled mightily. After the election, the steel sector rose by 40 percent. But that didn’t last. One big culprit? China. Now, Trump is again taking a look at protecting the struggling steel industry against shady trade practices by U.S. international trade partners; specifically China. Trump announced that he’s stopping illegal steel dumping by China through tariffs and quotas. Can the plan succeed? Or will trump end up pricing out U.S. exports?

Read The Capitalist’s Take Here

Read More at MarketWatch Here

Read More at Reuters Here


HEALTHCARE BILL REINTRODUCED; STILL LACKS VOTES TO PASS

Senate Majority Leader Mitch McConnell (R-Ky.) released a new rewrite of the Affordable Care Act Thursday after spending three weeks reworking it to win over wavering lawmakers on the right and in the center.

But within hours, it was clear that Senate leaders still didn’t have the votes to fulfill their long-standing quest to overhaul former president Barack Obama’s 2010 health-care law.

The new draft would lift many of the ACA’s tight regulatory requirements, allowing insurers to offer bare-bones policies without coverage for such services as preventive or mental-health care. It would also direct billions of dollars to help lower- and middle-income Americans afford health coverage.

Read More at Washington Post Here

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Read More at NPR Here

Read More at NY Times Here


PLANNED MERGER BETWEEN DRAFTKINGS AND FANDUEL CALLED OFF FOLLOWING ANTITRUST CHALLENGE

Daily fantasy sports companies DraftKings and FanDuel have canceled their plans to merge, the companies announced Thursday.

Talk of a merger began in the summer of 2016 and the two companies—the two largest in the DFS industry—first announced their plans to merge in November. The Federal Trade Commission filed a legal challenge to the merger last month, alleging that it would violate antitrust law. The merger would create a DFS monopoly, the FTC argued, by having the same company control in excess of 90% of action in the industry. The companies called off the merger just days after filing briefs in response to the complaint. .

Read More at Sports Illustrated Here

Read More at ESPN Here

Read More at Recode Here


Closing Bell

– Thursday, July 13th

Markets Finish UP After Retail Sees Best Day of Year

Big Insider Trades

– HP Inc. (HPQ) Director Margaret Whitman Sells $2.7m

– Liberty Global plc (LBTYA) Director John Malone Buys $2.6m

Winners & Losers

– Navigator Holdings Ltd. (NVGS) Soars UP (35.88%) After Announcing a Key Partnership to Develop a Marine Export Terminal on the Houston Ship Channel for Exporting Ethylene.

– Maui Land & Pineapple Co. (MLP) Tumbles DOWN (29.80%) After Key Investors Unload Shares Following Analyst Downgrades

Most Talked About

Apple, Inc. (AAPL) Considered a Majority Strong Buy After Announcing First Data Center in China

The TIP Sheets

– Thursday July 13th

– Target Corp. (TGT) Ticks UP (4.80%) After Announcing Growing Sales. Target also Announced Plans to Continue Growth. E Shares to Continue UP

Unusual Volume

Hertz Global Holdings, Inc. (HTZ) Jumps UP (15.75%) on 25m Shares Traded After Positive Comments from Analysts Suggest Pricing Trends for Car Rental Businesses Have Reversed Up. Expect Shares to Continue UP

 

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