The Russell & Biotech Stocks Lead On A Tired Tuesday – $AG $APE $KDNY $INVO $TSLA $VERV $VIX $XBI Rise!

Happy Tuesday!

I hope that you had a great second day of the workweek.  As for the stock market, Tuesday’s session saw the major indices perform in a fairly sluggish or tight range for most the day and dribble down a bit lower towards the end of the session. The S&P 500 closed at 4,128.73 (-.22%). The Dow ended the session higher closing at 33,063.61 (-1.91%) as Dow component and tech giant Apple (AAPL) ticked lower by .20% to close at $167.23.  The growth oriented and tech heavy Nasdaq essentially stay flat at 12,381.30 (+0.00%). However, the small caps on the Russell 2000 moved a little higher closing at 1,919.14 (+.18%), but still below the 2k level. The MicroCaps also moved nicely higher  represented by the move that the iShares Micro-Cap ETF (IWC) experienced closing at $119.30, +.73%. The biotech stocks also moved relatively well as the SPDR S&P Biotech ETF (XBI) closed at $87.78,+2.15%. The 52-wk range is $61.78 – $136.61. The iShares Biotechnology ETF (IBB) also closed down at $125.37, -.19%. The 52-range is $104.29 – $176.02. A decent measure of the markets volatility or the CBOE Volatility Index (^VIX) closed up again closing at $24.11, +1.30% and traded within the range of $23.07 – $24.19. 

The lack of conviction in the overall markets could be pointed towards the uncertainty surrounding the upcoming Fed head’s speeches that will occur at the Annual Jackson Hole Economic Policy Symposium this week.  In the meantime, the U.S. macroeconomic schedule offered up somewhat humbling reports today as the New home sales report confirmed a whopping 12.6% M/M drop in June to a seasonally adjusted annual rate of 511k units & on a new home sales were off an even greater 29.6% Y/Y. The August IHS Markit Manufacturing PMI preliminary reading came in lower at 51.3, while the August IHS Markit Services PMI preliminary reading came in nearly 3 points lower at 44.1. The markets were also met by another increase of oil prices which moved up to $93.76/bbl, +3.5% that helped the energy sector to move up 3.6%, but hurts the balance of the sectors. Oil prices were heavily influenced today by reports that OPEC+ may move to cut production by or before their September 5 meeting.

The U.S. Dollar Index stayed amazingly high and closed at 108.54, -.47% and kept travel abroad attractive, but also our exports at a premium. The US treasury yield curve continued to move higher & remained inverted as the 10-yr moved up 5 basis points to 3.04% & the 2-yr note moved 8 basis points to close 3.33%. On the positive side, oil prices ticked lower today down .3% to close $90.63/bbl. 

As for the major indices, they took a relatively sharp ride to the red side in this primarily risk off session where equities seemed to be stick in reverse.  The S&P 500 closed at 4,137.99 (-2.14%) with all 11 sectors closing lower. The popular and influential growth stocks in consumer discretionary & information technology sectors dropped 2.8%, while the communication services sector fell  2.7% to lead all lower. The Dow ended the session higher closing at 33,063.61 (-1.91%) as Dow component and tech giant Apple (AAPL) fell 2.30% to close at $167.57 & Cisco (CSCO) fell 2.03% to $47.71.  The growth oriented and tech heavy Nasdaq followed suit and closed significantly lower at 12,381.57 (-2.55%). The small caps on the Russell 2000 closed at 1,915.74 (-2.13%) and now back well below the 2k level. The MicroCaps also got hit somewhat evidenced by the iShares Micro-Cap ETF (IWC) that closed at $118.44, -2.40%. The biotech stocks moved relatively moderately lower as the SPDR S&P Biotech ETF (XBI) closed at $85.93, -1.54%. The 52-wk range is $61.78 – $136.61. The iShares Biotechnology ETF (IBB) also closed down at $125.61, -1.60%. The 52-range is $104.29 – $176.02. A decent measure of the markets volatility or the CBOE Volatility Index (^VIX) closed up sharply at $23.80, +15.93% and traded within the range of $23.04 – $24.62. 

Around the money and precious metals’ tree, the U.S. Dollar Index stayed amazingly high and closed at 108.54, -.47% and kept travel abroad attractive, but also our exports at a premium. The US treasury yield curve remained inverted as the 10-yr moved up 1 basis point to 3.05% & the 2-yr note moved down 5 basis points to close 3.28%. Bitcoin (BTC) bounced to $21,481.16, +1.69% over the last 24-hours at the time of this writing. Gold prices closed at $1,751/oz., +$12/oz. & silver closed at $19.14/oz., up $.13/oz. on the day. Two mining producers closed the day as follows: Hecla Mining Company (HL) closed at $4.15, +2.98% and First Majestic Silver Corp. (AG) closed at $7.69, -+4.77%. On Aug. 8, First Majestic announced the release of its 2021 Sustainability Report summarizing the Company’s Environmental, Social and Governance (“ESG”) performance. The Sustainability Report and the Company’s performance indicators follow the Global Reporting Initiative and Sustainability Accounting Standards Board metrics. The report is available for review under the Corporate Responsibility section of First Majestic’s website (www.firstmajestic.com). “In 2021, First Majestic achieved record production of 26.9 million silver equivalent ounces representing a 32% increase compared to the previous year. This record was in part due to our focus on responsible and sustainable mining integrated with our vision to become the world’s largest primary silver producer,” stated Keith Neumeyer, President and CEO. “I strongly believe that our efforts in 2021 demonstrated our commitment to sustainability and to improving lives and communities in our host regions while increasing shareholder value, as well as driving positive changes for society and delivering long-term benefits for all First Majestic stakeholders.”

 

 

On Aug. 22, Atossa announced that Atossa’s CEO, Dr. Steven Quay, M.D., Ph.D., and Kyle Guse, GC & CFO will present at Tribe Public’s Webinar Presentation and Q&A Event that is scheduled to begin at 8am pacific/11am eastern on Thursday, August 25th. During this complimentary event, Atossa management will speak new opportunities for its inhalation therapy, AT-H201, to potentially treat lung injury caused by cancer treatment and will be available for a Q&A session focused on Atossa’s research programs and future development. To join the complimentary event, please register at ATOSAUG25.TribePublic.com. Once registered, Tribe members may then send their questions for Atossa’s management to research@tribepublic.com.

Economic Reports

On Tuesday, the New home sales report confirmed a whopping 12.6% M/M drop in June to a seasonally adjusted annual rate of 511k units & on a new home sales were off an even greater 29.6% Y/Y. The August IHS Markit Manufacturing PMI preliminary reading came in lower at 51.3, while the August IHS Markit Services PMI preliminary reading came in nearly 3 points lower at 44.1.

Investing & Inspiration

1. “People are not disturbed by things, but by the view they take of them.” – Epictetus

2. “Uncertainty is seen to retard investment independently of considerations of risk or expected return.” – Ben Bernanke

3. “I never called my work an ‘art’. It’s part of show business, the business of building entertainment.” – Walt Disney

4. “Hitch your wagon to a star.” – Ralph Waldo Emerson

5. “The greatest remedy for anger is delay.” – Lucius Annaeus Seneca

6. “Great minds discuss ideas; average minds discuss events; small minds discuss people.” – Eleanor Roosevelt

7. “Act as if what you do makes a difference. It does.” – William James

8. “Success – keeping your mind awake and your desire asleep.” – Walter Scott

9. “If I had to live my life again, I’d make the same mistakes, only sooner.” – Tallulah Bankhead

10. “When one must, one can.” – Charlotte Whitton

11. “Wealth consists not in having great possessions, but in having few wants.” – Epictetus
12. “If we open a quarrel between past and present, we shall find that we have lost the future.” – Winston Churchill
13. “Hope is patience with the lamp lit.” – Tertullian
14. “A single sunbeam is enough to drive away many shadows.” – Francis of Assisi
15. “With the past, I have nothing to do; nor with the future. I live now.” – Ralph Waldo Emerson
16. “Laziness may appear attractive, but work gives satisfaction.” – Anne Frank

17. “I never think of the future – it comes soon enough.” – Albert Einstein

18. Hope is but the dream of those who wake.” – Matthew Prior

19. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul
20. “Real knowledge is to know the extent of one’s ignorance.” – Confucius

21. “Better keep yourself clean and bright; you are the window through which you must see the world.” – George Bernard Shaw

22. “Nothing great in the world has ever been accomplished without passion.” – Georg Wilhelm Friedrich Hegel

23. “History is a vast early warning system.” – Norman Cousins 

24. “We first make our habits, and then our habits make us.” – John Dryden

25. “The traveler sees what he sees, the tourist sees what he has come to see.” – Gilbert K. Chesterton
26. “Adventure is worthwhile.” – Aesop
27. “We must build dikes of courage to hold back the flood of fear.” – Martin Luther King, Jr.
28. “The return we reap from generous actions is not always evident.” – Francesco Guicciardini

29. “Courage is knowing what not to fear.” – Plato

30. “Science may never come up with a better office communication system than the coffee break.” – Earl Wilson

31. “Progress was all right. Only it went on too long.” – James Thurber

32. “If you would know strength and patience, welcome the company of trees.” – Hal Borland

33. “We aim above the mark to hit the mark.” – Ralph Waldo Emerson

34. “Hope is being able to see that there is light despite all of the darkness.” – Desmond Tutu

35. “Our chief want is someone who will inspire us to be what we know we could be.” – Ralph Waldo Emerson

36. “Patience is a virtue, and I’m learning patience. It’s a tough lesson.” – Elon Musk

37. “Great things are done when men and mountains meet.” – William Blake

38. “The man who has no imagination has no wings.” – Muhammad Ali

39. “Formula for success: rise early, work hard, strike oil.” – J. Paul Getty

40. “Action is the foundational key to all success.” – Pablo Picasso

41. “Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.” – Samuel Smiles

    “The backbone of surprise is fusing speed with secrecy.” – Carl von Clausewitz

42. “There are no shortcuts in evolution.” – Louis D. Brandeis

43. “I am fascinated by what is beautiful, strong, healthy, what is living. I seek harmony.” – Leni Riefenstahl
44. “If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.” – Henry David Thoreau
45. “Waste no more time arguing about what a good man should be. Be one.” – Marcus Aurelius
46. “It is during our darkest moments that we must focus to see the light.” – Aristotle Onassis
47. “Courage is fear holding on a minute longer.” – George S. Patton
48. “You must be the change you wish to see in the world.” – Mahatma Gandhi
49. “Don’t judge each day by the harvest you reap but by the seeds that you plant.” – Robert Louis Stevenson 
50. “It is in the character of very few men to honor without envy a friend who has prospered.” – Aeschylus
51. “Life is a series of natural and spontaneous changes. Don’t resist them – that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.” – Lao Tzu
52. “The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey
53. “Anything simple always interests me.” – David Hockney
54. “He who angers you conquers you.” – Elizabeth Kenny
55. “Concision in style, precision in thought, decision in life.” – Victor Hugo
56. “The secret of genius is to carry the spirit of the child into old age, which means never losing your enthusiasm.” – Aldous Huxley
57. “View health as an investment, not an expense.” – John Quelch
58. “The most effective way to do it, is to do it.” – Amelia Earhart
59. “Man needs his difficulties because they are necessary to enjoy success.” – A. P. J. Abdul Kalam
60. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha
61. “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
62. “You must do the things you think you cannot do.”- Eleanor Roosevelt
63. “Success is dependent on effort.” – Sophocles
64. “Nobody who ever gave his best regretted it.” – George Halas
65. “Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.” ~ Oprah Winfrey
66. “And when I breathed, my breath was lightning.” – Black Elk
67. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
68. “You are the sum total of everything you’ve ever seen, heard, eaten, smelled, been told, forgot – it’s all there. Everything influences each of us, and because of that I try to make sure that my experiences are positive.” – Maya Angelou
69. “If you want a guarantee, buy a toaster.” – Clint Eastwood
70. “We are an impossibility in an impossible universe.” – Ray Bradbury
71. “If you think in terms of a year, plant a seed; if in terms of ten years, plant trees; if in terms of 100 years, teach the people.” – Confucius
72. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
73. “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
74. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
75. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
76. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
77. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
78. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
79. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
80. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
81. “There is more to life than increasing its speed.” – Mahatma Gandhi
82. “Your attitude is like a box of crayons that color your world. Constantly color your picture gray, and your picture will always be bleak. Try adding some bright colors to the picture by including humor, and your picture begins to lighten up.” – Allen Klein
83. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
84. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
85. “In matters of truth and justice, there is no difference between large and small problems, for issues concerning the treatment of people are all the same.” – Albert Einstein
86. “Life is too short for long-term grudges.” – Elon Musk
87. “There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
88. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
89. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
90. “Ours is a world of nuclear giants and ethical infants. We know more about war that we know about peace, more about killing that we know about living.” – Omar N. Bradley
91. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
92. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
93. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
94. “Let there be work, bread, water and salt for all.” – Nelson Mandela
95. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
96. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
97. “I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.” – Albert Einstein
98. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
99. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
100. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
101. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
102. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
103. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
104. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
105. “Delete the negative; accentuate the positive!” – Donna Karan
106. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
107. “The world is a dangerous place to live; not because of the people who are evil, but because of the people who don’t do anything about it.” – Albert Einstein
108. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
109. “Everything has beauty, but not everyone sees it.” – Confucius
110. “A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.” – John C. Maxwell
111. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
112. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
113. “The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.” – Michelangelo
114. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
115. “I like to encourage people to realize that any action is a good action if it’s proactive and there is positive intent behind it.” – Michael J. Fox
116. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
117. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
118. “Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.” – Andrew Ross Sorkin
119. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
120. “No matter what you’re going through, there’s a light at the end of the tunnel and it may seem hard to get to it but you can do it and just keep working towards it and you’ll find the positive side of things.” – Demi Lovato
121. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
122. “Educating our children and giving them the skills they need to compete in a global economy is a smart investment in our country’s future.” – Sheldon Whitehouse
123. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
124. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
125. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
126. “The sofa is a really important investment for anybody, and I don’t mean financially. You need to find a really great sofa that can transition with you, and you can build from there.” – Jeremiah Brent
127. “There is no investment you can make which will pay you so well as the effort to scatter sunshine and good cheer through your establishment.” – Orison Swett Marden
128. “Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie
129. “There is little that can withstand a man who can conquer himself.” – Louis XIV
130. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
131. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
132. “The advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.” – Bill Gates
133. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
134. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
135. “Never do anything against conscience even if the state demands it.”– Albert Einstein
136. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
137. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
138. “In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?” – Li Lu
139. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
140. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
141. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
142. “Investing in women’s lives is an investment in sustainable development, in human rights, in future generations – and consequently in our own long-term national interests.” – Liya Kebede
143. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
144. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
145. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
146. “The secret of getting ahead is getting started.” – Mark Twain
147. “The amount of work and the amount of both physical and emotional investment it takes to get to the top.” – Drew Bledsoe