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.
China’s largest initial public offering since 2015 has gotten the attention of the nation’s top internet companies. Affiliates of Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd., known collectively as BAT, are becoming strategic investors in Foxconn Industrial Internet Co. The companies are buying 21.8 million shares each in FII’s listing at 13.77 yuan apiece, the firm said in a statement to the Shanghai stock exchange Sunday. China’s largest tech corporations join a plethora of major names that’re buying into the smart factory unit of Hon Hai Precision Industry Co., Apple Inc.’s most important assembler.
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.
Asian stocks struggled for traction Monday with energy shares tumbling after oil extended its biggest drop in about a year. The euro rallied after Italy’s president rejected a candidate for finance minister who’s been skeptical of the single currency. South Korean stocks rose, as did U.S. futures, after President Donald Trump appeared to confirm that his June summit with North Korea’s Kim Jong Un was back on.
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.
Mark Tinker of AXA Investment Managers says exposure to emerging markets via equity indexes limits the opportunity for investors to be more selective.
Dow futures closed lower on Friday after giving up earlier gains. After the initial thrust to the upside, the market fell victim to low pre-holiday volume and the buying dried up. The fundamentals were mixed going into the session with the Fed minutes
Tencent Holdings chairman pledged to advance China's semiconductor industry, saying the blow to ZTE Corp from Washington's ban on U.S. firms supplying telecommunications company was a "wake-up" call, local media reported. China's No.2 telecom equipment maker ZTE was banned in April from buying U.S. technology components for seven years for breaking an agreement reached after it violated U.S. sanctions against Iran and North Korea. American firms are estimated to provide 25-30 percent of the components used in ZTE's equipment.
Qualcomm Inc (NASDAQ:QCOM) is expected to meet regulators in China this week to push for a green light on its proposed $44 billion acquisition of NXP Semiconductors NV (NASDAQ:NXPI), according to media reports over the weekend. NXPI stock climbed more than 4.7% on Friday, compared to the Nasdaq Composite index’s 1.3% gain. Qualcomm could meet Chinese antitrust regulators before U.S. Commerce Secretary Wilbur Ross arrives in Beijing on June 2, Reuters reported on Sunday. Qualcomm representative and officials from the Chinese State Administration for Market Regulation met in Beijing on May 25 and had “productive” talks, according to the report.
Most Asian markets reversed early losses to edge higher on Monday. Delegations from the U.S. and North Korea met on Sunday at the border between North Korea and South Korea. Oil prices extended declines after news that top producers could ease quotas
Here’s a detailed look at how the irreverent Turtleboy has offended Facebook’s (FB) users and management, or not, and why Facebook keeps banning the blog. This huge company owns 40% of “Fortnite’s” developer and is still growing very quickly.
U.S. West Texas Intermediate and international-benchmark Brent crude oil settled sharply lower last week. July WTI crude oil settled at $67.88, down $3.49 or -4.89% and July Brent crude oil finished the week at $76.44, down $2.07 or -2.64%. Helping to trigger the steep drop in prices was Russian Energy Minister Alexander Novak, who said a group of producer nations could soon begin easing production limits aimed at balancing the market.
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%.
Elias Haddad of Commonwealth Bank says the U.S. dollar tends to perform well during periods of "heightened risk aversion."
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.
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
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.
U.S. stock futures rose in Asian trading as President Donald Trump appeared to confirm the summit with North Korean leader Kim Jong Un was back on, three days after it was abruptly called off. U.S. financial markets will be closed Monday for Memorial Day. The risk-on in U.S. stock futures comes as the State Department confirmed reports that a U.S. delegation is meeting with North Korean officials to prepare for the summit, which had been set for June 12 in Singapore.
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.
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.
PayPal is getting further integrated with Google’s G Pay service, and that means better security. The new integration means that once a user adds their PayPal account to one of Google’s services, it connects to the rest of Google’s apps — including Gmail, YouTube and the Google Store, rather than forcing the user to log in again. “We are always looking for ways to improve the experience and to make payments even more seamless and secure for our customers wherever they want to pay,” Bill Ready, the executive vice president and COO of PayPal, told TechCrunch.
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.
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.
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%.
The commodity-linked Australian and New Zealand Dollars were pressured on Friday as oil prices fell after Russia and Saudi Arabia said they were ready to ease production curbs that have supported crude prices. On Friday, the AUD/USD settled at .7547, down 0.0030 or -0.40% and the NZD/USD finished the session at .6916, down 0.0013 or -0.20%. Russian Energy Minister Alexander Novak said a group of producer nations could soon begin easing production limits aimed at balancing the market.