If the crypto market sentiments weren’t depressing enough, regulatory news and chatter from all around the world are indicating tough times ahead for cryptocurrencies. Bitcoin is taking continuous blows and recovery seems pretty tough. The world’s first and largest cryptocurrency Bitcoin is famous for being the decentralized peer-to-peer network.
ST PETERSBURG/DUBAI (Reuters) - Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels a day, sources said, while OPEC's chief said a complaint from U.S. President Donald Trump over high prices had triggered the idea of upping output. Riyadh and Moscow are prepared to ease output cuts to calm consumer worries about supply adequacy, their energy ministers said on Friday. Saudi Arabia's Khalid al-Falih and Russia's Alexander Novak both said any such move would be gradual.
How much money is in your checking account? Markets are experiencing another period of volatility this week, and new research suggests checking account customers are doing something that indicates they don’t feel as secure as they would like about the economy. Moebs Services, an economic-research firm in Lake Bluff, Ill., analyzed over 12,000 depository call reports and compared them to the Federal Reserve monetary data for 2017.
Boeing Co. has dispatched a prominent executive to help Rolls-Royce Holdings Plc work through escalating engine problems that have grounded dozens of 787 Dreamliners. Keith Leverkuhn is serving as Boeing’s eyes and ears at Rolls factories in Singapore and Derby, England, where the Trent 1000 engine is manufactured and being repaired. Leverkuhn, an engineer with expertise in propulsion, is best-known for steering Boeing’s 737 Max through development to its commercial debut a year ago, months ahead of schedule.
Bitcoin slipped 1.58% on Friday, reversing Thursday’s 1.08% gain, to end the day at $7,456.8. Bitcoin fell to an intraday low $7,318.2 in the late morning to call on support at the day’s first major support level at $7,314.13 before recovering to $7,400 levels, the second half of the day relatively range bound, with a downward bias. The Bitcoin bears ruled the roost through the week, with Bitcoin falling 12.5% Monday through Friday, supporting the extended bearish trend formed at 5th May’s swing hi $9,999, with Bitcoin failing to test resistance at the 23.6% FIB Retracement Level for a second consecutive day, while also striking a new swing lo $7,260 on Thursday.
Amazon appears to be restarting its funding efforts in India after Acko, the digital insurance startup in India, confirmed that the U.S. retail giant led a new round of funding for its business. Amazon -- which has been linked with an Acko investment since the start of this year -- backed lending startup Capital Float last month, and now it has led a $12 million funding round for Acko alongside Ashish Dhawan, the founder of PE firm ChrysCapital, and existing backer Catamaran Ventures. Acko was founded in late 2016 by Varun Dua, one of the co-founders of insurance comparison site Coverfox.
Indeed, the S&P 500 index is staged for the best May performance in nine years, boasting a month-to-date return of 2.8% thus far, while the Dow Jones Industrial also headed for the best May since 2009, according to FactSet data. Back in 2009, the Dow booked a 4.1% return for May as the S&P 500 returned 5.3% that month. The Nasdaq Composite Index is the outperformer, on track for a May return of 5.2%, which would represent the technology-tilted index's best rise for that month since 2005, when it advanced by 7.63%.
By Matthew Miller BEIJING (Reuters) - Qualcomm Inc is expecting to meet this week in Beijing with China's antitrust regulators in a final push to secure clearance for its proposed $44 billion acquisition of NXP Semiconductors NV , three sources told Reuters. The acquisition has been caught in the crosshairs of rising U.S.-China trade tensions, with sources saying an approval would depend on the progress of broader bilateral talks. Qualcomm is likely to meet Chinese regulators before U.S. Commerce Secretary Wilbur Ross arrives in China on Saturday, the sources briefed on Qualcomm's discussions said.
Cisco Chairman Chuck Robbins discusses his company’s strong earnings and what the technology giant plans to do with the money that was repatriated from overseas.
Market Taker Mentoring's Dan Passarelli discusses his options play for Ford Motor Co. with Bloomberg's Julie Hyman on "Bloomberg Markets." More from Bloomberg.comTrump Welcomes ‘Warm’ North
David Kline Contributor David Kline is a journalist, author and intellectual property strategist. Although top senators, including Democrat Chuck Schumer and Republican Marco Rubio, are urging the administration not to bend on ZTE, President Trump is planning to ease penalties on the Chinese telecommunications giant for violating sanctions against Iran and North Korea.
On the other hand, we made investing mistakes that in retrospect could only be described as pure stupidity. The worst advice, which I read and hear frequently, is that you should find a good financial adviser by seeking the recommendation of someone you trust.
By their very nature, growth investors are primarily focused on finding companies whose earnings and revenue are expected grow at a rate that outpaces the market. Over the past several years, Wall Street’s most exciting growth stocks have emerged from the technology sector. From industry innovators like Amazon AMZN and Netflix NFLX to exciting foreign stocks such as Alibaba BABA, tech-focused growth investors have been rewarded with massive profits recently.
Workplace retirement plans get a lot of bad press, primarily if they are loaded with high fees. Put simply, 401(k)s work. The bad news is that otherwise-diligent savers can still leave money on the table with a 401(k), often without realizing it.
Both Quest Diagnostics and LabCorp lost exclusive contracts, but their stocks surged following the news. Analysts said the pair of announcements may indicate that the lab services didn't have to resort to rock-bottom pricing to hold onto their agreements. Losing exclusive contracts might normally seem like bad news, but shares of Quest Diagnostics DGX and LabCorp LH surged on Friday after the rival lab services firms announced new non-exclusive agreements with health insurers.
May.25 -- The lira has been one of the currencies hardest hit by an emerging-market sell-off this year amid concern the nation’s interest rates are too low given a current-account deficit and double-digit inflation. President Recep Tayyip Erdogan, who launched a re-election campaign on Thursday that may provide the toughest electoral test of his 15 years in power, favors lower interest rates to boost the economy. Henry Peabody, portfolio manager at Eaton Vance, and Matt Brill, head of U.S. investment grade for Invesco Fixed Income, join Bloomberg's Jonathan Ferro and Lisa Abramowicz to discuss the market and political pressures on Turkey, and other emerging markets.
Friday marked a quiet day on Wall Street as the price of oil declined and tensions between North Korea and the U.S. eased a bit. With the stock market closing Monday for Memorial Day, we’re looking ahead to a short week. Here are the top trades to make
Energy stocks are getting smashed lower on Friday, with the Energy Select SPDR (NYSEARCA:XLE) falling 3.1% in mid-day trading to cut below its 20-day moving average for the first time since early April.
Lowe’s Cos. Inc. needs to do a better job of showing how it’s different from Home Depot Inc. if it wants to move out of its competitor’s shadow and grow, analysts say. “That means that when demand drops because of the weather, Lowe’s falls off the radar and suffers a disproportionate decline in footfall and sales,” wrote Neil Saunders, managing director of GlobalData Retail.
The $539 million that Apple won in its patent infringement case against Samsung is fairly insignificant compared to the some $300 billion of profit Apple has made in the years since it filed the suit in 2011. The money is nice, but for Apple, the real victory probably comes from the principle of the thing. As this chart from Statista shows, the money that the Cupertino-based company was awarded is hardly enough to even register on Apple's radar — it's actually less than Apple's net profit has been in any given quarter since April 2011.
Mortgage rates were on the rise once more, with rates hitting 4.66%, the highest level since May 2011’s 4.71%, according to figures released by Freddie Mac, the upward trend reported to have been the most sustained rise in rates in over 40-years. According to Freddie Mac, rates have risen in 15 of the first 21 weeks of the current year, the share of weekly rises the highest since 1972. The sustained rise in mortgage rates through the year will have contributed to the slump in U.S home sales, with new home sales falling by 1.5% in April, reversing March’s 2% rise and existing home sales sliding by 2.5%, more than reversing March’s 1.1% rise, according to figures released last week.
Tesla Inc on Friday asked a court to dismiss a securities fraud lawsuit by shareholders who said the electric vehicle maker gave false public statements about the progress of producing its new Model 3 sedan. Tesla did not seek to hide the truth, its motion to dismiss said. The company says its Model 3 has experienced numerous "bottlenecks" from problems with Tesla's battery module process at its Nevada Gigafactory to general assembly at its Fremont plant.
may already be in hot water with the General Data Protection Regulation, or GDPR. On Friday, May 25, the GDPR went into effect - but the two companies already had lawsuits filed against them. The lawsuits were filed by Max Schrems, the head of the privacy lobby group None of Your Business.
Trading volume reached 55.4 million shares, enough to make the stock the most actively traded on the New York Stock Exchange. The selloff would be the biggest one-day percentage decline since it tumbled 10.7% on May 9, 2016. Weighing on the oil and gas company's stock was the 4.2% plunge in crude oil futures prices , which was triggered by talk that Russia and the OPEC oil cartel could increase output.
The major U.S. stock indexes finished mixed on Friday, but were still able to hold on to their weekly gains. Solid corporate earnings helped underpin the indexes, but gains were limited by geopolitical fears following President Donald Trump’s decision to cancel a key summit with North Korea. The blue chip Dow Jones Industrial Average closed at 24753.09, down 58.67 or -0.24% and the tech-driven NASDAQ Composite ended the session at 7435.79, up 11.36 or +0.15%.