The Market In 5 Minutes: Bitcoin Rally, An IPO Winner, Trump Tweets, And More

IN THE NEWS

Cryptocurrencies have taken the investment world by storm, as reflected by the strong rally in Bitcoin, the original cryptocurrency. From $968.23 at the end of 2016, Bitcoin has rallied to over $6,600. This is despite a minicrash the currency experienced this week, which dragged it down from a Nov. 8 all-time high of $7,879.06: Link

One of the quickest ways to go from rags to riches in America is to launch the next billion dollar startup company. But creating a successful startup is much harder than it seems: Link

Stitch Fix Inc (SFIX) traded up 13 percent off Friday’s initial public offering price — one of this year’s few market initiates to live up to its hype: Link

In a year when asset prices have surged, those are questions that should be nagging at investors’ minds. Stocks, hardly cheap at 2017’s onset, have gotten progressively more expensive. Prices on junk bonds and emerging-market debt have risen sharply, driving yields even lower: Link

U.S. President Donald Trump would not insist on including repeal of an Obama-era health insurance mandate in a bill intended to enact the biggest overhaul of the tax code since the 1980s, a senior White House aide said on Sunday: Link

Wendy McElroy is ready for most doomsday scenarios: a one-year supply of nonperishable food is stacked in a cellar at her farm in rural Ontario. Her blueprint for survival also depends upon working internet: part of her money, assuming she needs some after civilization collapses, is in bitcoin: Link

U.S. President Donald Trump predicted on Sunday that Senator Jeff Flake will oppose the Republican tax bill, but the senator’s office says he has not yet made up his mind: Link

ECONOMIC DATA

• 11:30 a.m. 3-Month Bill Auction
• 11:30 a.m. 6-Month Bill Auction

ANALYST RATINGS

• Jefferies upgraded PetIQ (PETQ) from Hold to Buy

• Wells Fargo upgraded Verizon (VZ) from Market Perform to Outperform

• Barclays upgraded Diamondback Energy (FANG) from Equal-Weight to Overweight

• JP Morgan downgraded Accelerator Applications SA (AAAP) from Overweight to Neutral

• Cantor downgraded HMS Holdings (HMSY) from Overweight to Neutral

• Barcalys downgraded Antero Resources (AR) from Overweight to Equal-Weight