Hello MarketClub members everywhere. This morning I learned that Starbucks Corporation (NASDAQ:SBUX) has 1.2 billion dollars loaded onto Starbuck's cards and their mobile app - that is more capital than almost 5,000 US banks! The other good news for Starbucks is that they are playing the 'float' which means they are getting a return on your capital much like a bank, albeit small, as interest rates are so low right now. So next time you are in Starbucks ordering your favorite cup of coffee, do yourself a favor and pay cash. Why let Starbuck's make a buck on your hard earned money?
Overseas: The German Bund yields sink to new lows and yields in both Britain and Germany fell to record lows ahead of Britain's referendum on the European Union membership later this month. All of which is not particularly positive for the US economy or today's market.
How The Markets Closed Last Friday: Every Friday I look back on the week and see where the markets closed the previous Friday. This look backwards gives me the opportunity to see whether a market is positive or negative for the week. One of the important market perceptions is to look at the comfort level of traders and investors on Friday and see if they are comfortable going into the weekend holding positions in various markets. With that said, here's how the major markets closed last Friday. Continue reading "In God We Trust - Starbucks?"
