Trump Squashes Biggest Tech Deal Ever

Hello traders everywhere. Late Monday, President Trump signed an executive order blocking Broadcom’s $117 billion bid for the chip maker Qualcomm, citing national security concerns. This action indicates that he is willing to take extraordinary measures to remain on course with his administration’s increasingly protectionist stance.

The Broadcom acquisition would have been and was labeled as the most significant tech deal ever and would have made Broadcom the dominant supplier of chips used in smartphones. It would have also brought the company to the forefront of developing technology for the next generation of mobile network technology known as 5G.

Trump

The NASDAQ had opened at record highs before news of the block had sunk in, but once it did the NASDAQ soon retreated into negative territory on the day trading as low as .9% on the day.

Shares of Broadcom Limited (AVGO) are trading up on the day around 1% while shares of QUALCOMM Incorporated (QCOM) are trading down about 4% on the day.

Overall the stock market has been waffling the last few days trying to get a grasp on inflation, the looming trade wars and the firing of Rex Tillerson today by President Trump.

Key Levels To Watch This Week:

S&P 500 (CME:SP500): 2,647.32
Dow (INDEX:DJI): 24,217.76
NASDAQ (NASDAQ:COMP): 7,084.83
Gold (NYMEX:GC.G18.E): 1,313.80
Crude Oil (NYMEX:CL.J18.E): 62.33
U.S. Dollar (NYBOT:DX.H18.E): 88.86
Bitcoin (CME:BRTI): 8,664.30

Every Success,
Jeremy Lutz
INO.com and MarketClub.com

Merry Christmas To All Of Our Traders Blog Visitors!

Merry Christmas From MarketClubWith all the hustle and bustle, it's sometimes difficult to remember the real reason for the season. But regardless of what you believe and what religion you practice, if any, we hope you find yourself surrounded by love. The INO.com staff is very appreciative of your interest and we love having you return to our blog time and time again.

As you share a meal, or a gift, please reflect on all you have despite the many things you hope that 2017 will bring. Merry Christmas to you and we are excited to help you build your financial goals and trading confidence.

If you don't celebrate Christmas, please accept our most genuine wishes for any happy holiday and a prosperous new year!

Best,
The INO.com Team
support@ino.com

Don't Miss This Week's Political Play

For traders and investors, the political climate has been unlike anything we have ever seen in recent times!

There are plenty of opportunities if you know where to look. Our analyst, Noah Kiedrowski, will bridge the gap between Washington and Wall Street, finding you the best stock plays being driven by politics.

See all of Noah's Traders Blog posts.

Sneak Peek - In the Current Issue:

Companies are aiming to strike transformative acquisitions in light of one of the most pro-business administrations in recent history.

Noah Kiedrowski reviews three potential billion-dollar acquisitions that could set off a chain reaction of consolidation for industry giants and drive up the share price of a handful of stocks.

Stock Market Marches Higher

Hello traders everywhere. All three of the major indexes are marching along to record highs and looking to close the week out at record highs. This move higher is primarily due to Tax Reform, which is expected to be delivered by the GOP this afternoon.

Once delivered the Republican leaders hope to hold a vote on the legislation in the full House and Senate next week. President Donald Trump touted a tax cut regularly during his campaign and wanted an approved bill on his desk for his signature before Christmas.

It would be Trump's first major legislative victory since taking office in January.

MarketClub's Mid-day Market Report

Bitcoin is close to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9% on the day, even as warnings grow over the risks of investing in the highly volatile and speculative instrument. This record push is partly due to the CME futures that are going to start trading on Sunday, which should see significant trading vs. the lighter volume that the CBOE saw last week.

Key levels to watch next week:
S&P 500 (CME:SP500): 2,598.87
Dow (INDEX:DJI): 23,545.02
NASDAQ (NASDAQ:COMP): 6,734.13
Gold (NYMEX:GC.G18.E): 1,242.30
Crude Oil (NYMEX:CL.F18.E): 57.83
U.S. Dollar (NYBOT:DX.H18.E): 92.13
Bitcoin (CME:BRTI): 8,889.74

Every Success,
Jeremy Lutz
INO.com and MarketClub.com