This quote says it all about bitcoin: Be honest about three things this weekend: (1) You hate bitcoin; (2) You don't get bitcoin; and (3) You wish the media, which really doesn't understand bitcoin, would stop talking about bitcoin. Nevertheless, here we are on the precipice of watching bitcoin futures trading kicking off on the Cboe Sunday. Who knows what's going to happen. Prices may explode to $25,000 on the sheer excitement, with grannies finally selling their beat up General Electric (GE) (which sports a lower dividend) shares to buy some bitcoin for their heirs. Or, bitcoin prices could go up in flames as the hucksters who have been promoting the cryptocurrency use the hype to sell. While Cboe has its moment in the sun, CME Group (CME) will be watching the frenzy closely as it gets ready to start futures trading on Dec. 18. I had the chance to talk with CME Group's top flight CEO Terry Duffy for a piece coming out shortly. I think this quote from him perfectly captures the current moment: "I don't think I have ever seen so much media attention around something like bitcoin in my 37 years in this industry -- then the price action has been really amazing."
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Beyond bitcoin mania: Keep in mind there is a Federal Reserve meeting this coming week. I know it's not exciting as bitcoin, but the meeting will likely bring with it one final interest rate hike by outgoing Fed chair Janet Yellen. Plus, there is a press conference that is always somewhat of a wildcard for markets. Goldman Sachs economists highlighted a few "emerging themes" for 2018 that investors should start considering as new Fed chair Jerome Powell slides into the gig. They include: (1) financial stability risks (seeing as markets are on steroids pumped in my high frequency trading machines); (2) concerns about inflation expectations (thanks to Trump's tax reform); and (3) alternative Fed policy frameworks such as price level targeting.
Your weekend stock research: Because the weekend is the only time you have to search through SEC filings, here are a bunch of stocks to sniff around. First one is from yours truly in fast-food giant Wendy's (WEN) . I had CEO Todd Penegor by the office for a feature we are working on and per the usual, came away impressed with his plans. With the stock oddly down 2% over the last six months, it may be time to strike. As for the other stock ideas, they come via a new note from Goldman Sachs' research analysts across their various sectors of coverage. They include: Ingersoll-Rand (IR) , Caterpillar (CAT) , Deere (DE) , Mohawk Industries (MHK) , Northrop Grumman (NOC) , FedEx (FDX) , UPS (UPS) , XPO Logistics (XPO) , DowDuPont (DWDP) , and Hologic (HOLX) .
More Bitcoin, Of Course
Microsoft Is One to Still Own
Microsoft (MSFT) shares are closing in on being up a cool 40% this year. Even so, TheStreet's Jim Cramer says more gains are ahead for 2018.
General Electric, XPO Logistics, DowDuPont and Microsoft are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells these stocks? Learn more now.
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