Bitcoin, Stocks, Oil, Gold and Silver

By A.I.

SPONSOR: http://www.CertifiedMedicalPlanner.org

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  • Stocks: The major Wall Street stock indexes languished. The S&P pulled back from its record high to close the week just a bit lower, but the NASDAQ managed to post a gain across the week.
  • Crypto: Bitcoin hit a new high-water mark above $118,000. Next week, July 14th, Congress hosts “Crypto Week” to discuss regulating the industry in a growth-oriented manner.
  • Commodities: Silver rose to its highest level since 2011, and it’s been even hotter than gold. The metal is up ~27% this year. Oil, meanwhile, ticked higher on speculation that President Trump will place more sanctions on Russia early next week.

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DAILY UPDATE: CVS & Merck as Stock Markets Struggle

MEDICAL EXECUTIVE-POST TODAY’S NEWSLETTER BRIEFING

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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants

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CVS has threatened to close 23 pharmacies in Arkansas after the state passed a law banning companies that own pharmacy benefit managers (PBMs) from also operating pharmacies starting in 2026.

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What’s up stocks

  • Kraft Heinz jumped 2.53% following a WSJ report it was preparing to break itself up (but not back to Kraft and Heinz).
  • Companies in the drone sector rose after the Pentagon introduced measures to supercharge production and deployment. Red Cat rose 26.40%, AeroVironment 11.04%, and Kratos Defense & Security Solutions 11.76%.
  • Performance Food Group jumped 4.84% to a record after reportedly being eyed by US Foods Holding for a takeover. A combined company would become the top foodservice distributor in the US with combined sales of ~$100 billion.
  • AMC Entertainment popped 11% on an upgrade from Wedbush. It’s tired of IMAX hogging the Brew Markets spotlight…

What’s down stocks

  • Delta (-0.23%) and United (-4.34%) took a breather after their big celebration on Thursday post-Delta earnings.
  • Penn Entertainment got hit 7.62% when gaming revenue for Iowa and Indiana came in soft.
  • Sunrun’s up-and-down week ended…down, with the solar stock falling 7%.

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Stat: $10 billion. That’s how much Merck is paying to buy UK-based biopharmaceutical Verona Pharma. (CNBC)

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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