Stocks climbed on Friday, pushing the S&P 500 and Dow Jones Industrial Average to record closing highs. The S&P 500 (^GSPC) rose 1.2% to close at 4,839. This marked the S&P 500’s first record close since January 2022. The Dow (^DJI) gained just over 1% to settle at 37,863. On a percentage basis, the tech-heavy […]
Markets are overpricing the pace and amount of Federal Reserve interest-rate cuts as they are overlooking stubbornly high inflation, according to economist Mohamed El-Erian. “I do think that we get to the pivot, but relative to what the market expects, it won’t be as fast or as deep,” said El-Erian, president of Queens’ College, Cambridge, […]
A Bitcoin whale recently dumped a whopping 59,000 BTC worth over $2.4 million after three to six months, essentially netting an impressive profit of $885 million. Bitcoin has continued to trade within a bearish trend since it collapsed on Jan. 12, bringing down the rest of the crypto market with it. This discouraging slump wiped […]
Happy Friday. The crypto industry spent months pinning its hopes on the long-awaited arrival of Bitcoin ETFs, which would help it break out of a painful bear market and let digital assets take their rightful place in the world of mainstream finance. Those ETFs finally arrived last Thursday. So were they a success? An initial […]
US stocks stumbled on Tuesday, with investors still focused on the path of interest rates after a lackluster start to earnings season that kicked off with big bank results. Boeing (BA) dragged on the Dow Jones Industrial Average (^DJI), which ended the session down 230 points, while the S&P 500 (^GSPC) shed 0.4%. The tech-heavy […]
US stocks fell on Wednesday as optimism over interest rate cuts dimmed while worries over China’s economy continued a challenging start to the year for investors. The Dow Jones Industrial Average (^DJI) fell almost 0.3%, while the S&P 500 (^GSPC) slid nearly 0.6%, set to build on Tuesday’s losing start to the holiday-shortened week. The Nasdaq Composite […]
Bitcoin fell to intraday lows prior to the Jan. 17 Wall Street open as the World Economic Forum (WEF) offered fresh mainstream criticism. Dimon: Bitcoin is a “pet rock” Data from Cointelegraph Markets Pro and TradingView confirmed a BTC price dip to $42,400 on Bitstamp. The largest cryptocurrency, still tightly rangebound after last week’s spate of volatility, repeatedly failed […]
Market enthusiasts call it a “golden cross,” indicating a positive shift in asset prices, and now this marker has finally appeared on the bitcoin (BTC) weekly price chart. The 50-week simple moving average (SMA) on bitcoin has crossed over the 200-week SMA for the first time on record, confirming the golden cross. The phrase and its counterpart, […]
India is JPMorgan’s top pick in Asia, and one of its favorite markets globally, the investment bank’s Asian Equity Strategist Mixo Das told CNBC. “It’s our number one market at this point,” he said, highlighting that the South-Asian nation will continue to benefit enormously as companies increasingly adopt a “China plus one” strategy. Although Vietnam […]
Taiwan’s election results place the island on a “collision course with China” and the market reaction has been too sanguine, according to veteran investor David Roche. Beijing has already dismissed the outcome of Saturday’s elections, which saw the ruling Democratic Progressive Party’s Lai Ching-te elected president alongside a split parliamentary vote. China sees the DPP […]
A “paradigm shift” in the perception and use of digital assets such as Bitcoin and central could threaten the dominance of the United States dollar as a global currency, warns Wall Street investment bank Morgan Stanley. While U.S. dollar currency makes up roughly 60% of global foreign exchange reserves, a “paradigm shift in the global […]
Bitcoin (BTC) contrarian bets were seemingly proven right as the much-awaited approval of a spot exchange-traded fund (ETF) turned out to be a “sell-the-news” event, one that analysts previously warned was possible given the token’s rapid price appreciation in the past months. “Sell the news” is a well-known term in capital markets and describes how asset prices, leverage […]
