Trump lashes out at black CEO: Bitcoin doubles in price; Japan’s economic growth hits 4%

Profitable Moment   Don't look down! The market is fickle. Last week, stocks slumped, the yield on the 10-year Treasury bond fell, the U.S. dollar strengthened, the VIX volatility index jumped more than 40% and gold, that safe haven for doomsayers, rose sharply too. Why? It was all about North Korea.   Today, geopolitical worries started to unwind and many of those fear trades went into reverse. Bond rates went back up, the VIX fell sharply and the biggest barometer of all – the stock market – had one of its best days in months.   None of this is grounds for jubilation, however. The risks that led to the market wobble last week are real and still present. The market is still not far from its record highs. My advice for investors? Don't look down!  -Richard.Quest@cnn.com  What's new... what's next   By Matt Egan, Patrick Gillespie, Julia Horowitz and Paul R. La Monica of CNNMoney 1. Trump lashes out at black CEO who quit panel Merck CEO Kenneth Frazier quit President Trump's manufacturing council over Trump's initial failure to condemn white supremacists. Frazier is one of America's most prominent black CEOs and as a former lawyer he helped free a black death row inmate falsely accused of murder. Frazier said he felt a "responsibility to take a stand against intolerance." Trump quickly lashed out at Frazier on Twitter. The CEOs of Apple, Dow Chemical and Intel also condemned the Charlottesville attack. Frazier is the latest CEO to feel compelled by Trump's words and policies to speak out against him. 2. Bitcoin prices have doubled in past month The digital currency now trades for more than $4,000 -- up from $2,000 just a few weeks ago and about four times higher than where it started the year. What gives? The creation of a cheaper bitcoin offshoot called Bitcoin Cash has helped fuel the rise of the cryptocurrency. The hope was this would lead to greater adoption of bitcoins. The promise of speedier bitcoin payments and a massive spike in bitcoin trading in Japan also seem to be helping to lift prices. 3. Trump moves to probe China trade practices President Trump took another step to get toughon trade with China. He directed the U.S. Trade Representative to look into alleged Chinese theft of U.S. intelectual property. The USTR said it would begin a "thorough investigation" of Chinese trade practices. The issue is one that American companies often complain about. However, the timing is tricky: Trump needs cooperation from Chinese President Xi Jinping amid the ongoing North Korea missile threat.  4. Japan's economy finds its 'sweet spot' Good news for Japanese Prime Minister Shinzo Abe. Japan's economy, which has been sluggish for much of the past decade, is firmly on the road to recovery. GDP grew at an annualized rate of 4% in the three months through June -- a rate significantly higher than analysts had predicted. The world's third largest economy has now recorded six straight quarters of expansion.  5. Quick Takes: Welcome to peak TV! Netflix plans to spend nearly $16 billion on content SpaceX launches supercomputer toward International Space Station Eclipse watch: Amazon issues refunds for potentially phony glasses This car can top 261 miles per hour. But it will cost you $3 million Wall Street cheers after Argentina's populist ex-president loses vote 6. What's next: Brexit-fueled inflation: New numbers set to be released at 4:30 a.m. ET on Tuesday are expected to show that U.K. consumer prices rose by nearly 3% in July. While inflation has been missing in the U.S., it's soared in Britain due to the collapse of the pound following the Brexit vote. Are Americans spending more? The answer to that critical question could emerge from Tuesday's 8:30 a.m. ET retail sales report for July. Economists expect that retail sales increased modestly after unexpectedly dropping in June. Wall Street will also be hoping to gain insight on the strength of consumer spending from the latest earnings reports by Home Depot, Coach and T.J. Maxx owner TJX Cos. Make this newsletter better. Please send us your feedback to CNNMoneyfeedback@turner.com Share Tweet Forward Sign up for CNN Money's morning markets newsletter: Before the Bell Sign up for CNN Money's closing markets newsletter: Markets Now Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved., All rights reserved. You're receiving this newsletter because you opted in at cnn.com or cnnmoney.com. Our mailing address is: Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved. One CNN Center Atlanta, GA 30303 Add us to your address book unsubscribe from this list    update subscription preferences