Month: November 2020

China is increasingly cracking down on cryptocurrencies. Immediate reports indicate that local authorities have been urged to crack down on all mining activities, a development that is curtailing Bitcoin mining. Colin Wu, a self-proclaimed Chinese cryptocurrency reporter, alleges that miners based in the Communist nation are finding it difficult to pay for their electricity. China
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The stock market is still trending upwards with all three New York exchanges trending in the right direction. The Dow Jones closed up 1.60% today, at 29,950.44. The NASDAQ closed up 0.80% at 11,924.13 and the S&P 500 closed up 1.16% to finish at 3,626.91. STOXX Europe also closed up today by 1.18% to close
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We once again appear to have a strong monday trading session on Wall Street, despite cases of COVID-19 rising across the country. Even after another week of record cases being reported markets didn’t respond. Just like last week there is positive news about a potential vaccine as Moderna has said it’s vaccine has proven to
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Technology and finance corporations have taken a significant interest in cryptocurrencies. A good number of fintech institutions have already changed their company policies in a bid to accommodate the ever-growing digital assets. PayPal has already hit the ground running, allowing users in the U.S to buy, sell, and hold various cryptocurrencies. Crypto Institutional Bets Payment
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Bitcoin has exploded in recent weeks and showing no signs of slowing down. Over the past five weeks, the flagship cryptocurrency has rallied by more than 50% powering through the crucial $16,000 level. While Bitcoin price did plunge below the $16,000 level abruptly, traders quickly stepped in to defend the $16,000 level. Bitcoin Rally In
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Joe Biden might not be good for the cryptocurrency sector. Those are sentiments shared by Ripple’s CEO, Brad Garlinghouse, who fears that increased focus on climate change, among other things by the new administration, could curtail growth in the sector. Ripple’s CEO Warning Renewed focus on climate change by the Biden’s administration could take a
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The exchange-traded fund landscape has seen a spike in capital inflows as investors pursue diversified investments given the elevated volatility levels in the capital markets. In recent days, the focus has been on ETF providing exposure to Pfizer Inc. (NYSE:PFE), a company that is closing in on regulatory approval of a much-needed COVID-19 vaccine. A
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U.S Junk bonds are on the receiving end in the wake of Pfizer announcing that its COVID-19 experimental vaccine is 90% effective in combatting the virus. The junk bonds fell by 45 bases from Friday close to 4.53%, the lowest level since June 2014. Junk Bonds Sell-off The implosion came amid concerns that the Federal
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How slow will the Fed go? As a potential vaccine for the greatest public health crisis in a century coming soon and a major corporate debt-buying program coming to an end the answer is probably extremely slow and cautious. The Federal Reserve  may actually  be overly cautious and not want to upset equilibrium on the
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The stock market in the United States took off in morning to midday trading on the back of news that Germany’s BioNTech SE and American drug manufacturer Pfizer Inc.  had a very successful Phase 3 study that will be sent to the Food and Drug Administration for approval. Other moves include companies that are perceived
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Warren Buffett has carried the biggest ever stock-repurchase of Berkshire Hathaway, affirming lack of investment opportunities amid the COVID-19 ravaged economy. The famed investor spent $9 billion in the third quarter to repurchase shares of the conglomerate. The buy-back spree comes hot on the Berkshire board’s heels, approving the purchase of stock whenever the share
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Two stocks came out on top today, including The Trade Desk and Roku. It seems that these two companies are definitely reaping the benefits of the pandemic situation as more and more customers are turning to online services. The Trade Desk saw an increase of 27% over the course of the day on Friday, which
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The United States regained 638,000 jobs in October and the unemployment rate fell to 6.9%, showing a fairly strong, and surprising, return for the economy as cases for the coronavirus rose to record highs around the country. Many economists were thinking this report would show an increase of about 500,000. Upon the report however the
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