Coinbase is the latest crypto player to find itself embroiled in a tricky lawsuit over the sale of unregulated securities. The U.S-based crypto exchange is to stand trial for allegedly receiving commissions on XRP coins’ sale on its platform. Coinbase Sued According to the lawsuit lodged by Thomas Sandoval, the crypto exchange went forth and
Month: December 2020
The U.S real estate sector has shrugged off the shocks triggered by the COVID-19 pandemic to cap one of the finest runs amid a challenging macro environment. Contrary to expectations, the pandemic has fueled activities in the sector as health concernstriggered the digitization of the home buying process. Pandemic Triggered Home Buying As remote-working took
Ticketmaster has agreed to a fine in order to stop prosecution for alleged hacking that occurred from the company into one of their competitors computers. According to Ticketmaster, the incident was isolated, with two of their employees acting on their own volition to execute the hack. They state that the two have since been terminated.
The market is trending back up again, though it’s unclear just what might be pushing things in a positive direction. The Dow Jones rebounded up 0.24% to close at 30,409.56. The NASDAQ closed up 0.15% to finish at 12,870.00 and the S&P 500 closed up 0.13% to finish at 3,732.04. On the other hand, STOXX
An economist from the 19th century may have been a good indicator as to what happened this year in the market. As economists review what happened in 2020 and what 2021 may be factored by what the economist Knut Wicksell of Sweden said in 1898. His theory that marginal return on capital can only be
Stock Exchange-Traded Funds continue to edge higher, having received a bid on the U.S President Donald Trump signing to law the $900 billion coronavirus relief package. The signing of the bill all but alleviated the risk of the government shutdown, conversely fuelling hopes of continued economic recovery. Stock Exchange ETFs Rally The passage of the
Treasury bonds are once again showing signs of finishing the year on a high after a roller-coaster 2020. After initially plunging to record lows in the first quarter of the year, they have bounced back at the back of a wave of stimulus packages by policymakers. Bonds Rally The 10-year treasury yield was up by
Stimulus checks are set to be distributed in the coming days, but that may be called into question as Congress, and specifically the Senate, are struggling over the bill. The President signed the original bipartisan bill, passed by Congress on Sunday, however he also called for an increase to the individual checks being sent out
The stock market fell today, after a good Monday it seems that Tuesday is settling things down again. The Dow Jones fell 0.22% to close at 30,335.67. The NASDAQ fell 0.38% to close at 12,850.22 and the S&P 500 fell 0.22% to close at 3,727.04. Boeing is finally getting back in the air but
While 2020 was a rough year for many, although others were able to fix their issues and move forward from the March collapse. With extremely low interest rates coming from the Federal Reserve, as well as unprecedented support from the federal government to support the investing economy, with technology stocks doing the best on average.
Is the stock market about to catch a breather after a blockbuster 2020? That’s the million-dollar question heading into year-end. Stocks have been on a roll, with major indices flirting with record highs. Since Donald Trump assumed the reigns of powers in 2017, the S&P 500 has rallied by more than 60%. Stock Market rally
AstraZeneca plc. (NASDAQ: AZN) has quashed concerns about the efficacy of its experimental COVID-19 vaccine. In recent weeks, there have been growing concerns about the vaccine’s ability to combat the deadly virus, especially the new strain causing havoc in Europe. The AstraZeneca vaccine had initially shown an average of 70% effectiveness, but that level is
The stock market is looking pretty good coming out of the holiday and heading into the end of the year. With all three major New York exchanges reporting improvement over the market today. The Dow Jones closed up 0.68% at 30,403.97. The NASDAQ closed up 0.74% at 12,899.42 and the S&P 500 closed up 0.87%
The head of equity strategy at Wells Fargo Securities, Chris Harvey went on an interview on CNBC to discuss some of the storylines for 2021. The one that caught everyone’s eye was when he was talking about Tesla and compared it to AOL in 1998 by saying “It reminded us so much about 1998 —
With the second stimulus checks getting authorized with the signing of the $900 billion relief package attached to the omnibus spending bill it is important to remember that the amount per person is only $600 each this time, half of what it was for qualifying adults last time but slightly higher for qualifying children. Most
Mergers and acquisition activity, across most sectors, has remained at suppressed levels in the aftermath of the COVID-19 situation. A good number of companies resorted to conserving capital amid concerns over the uncertainty triggered by the pandemic. Fast forward, things are looking up, and observers are optimistic of deal-making improving and could bounce back to
The Securities and Exchange Commission suing Ripple Labs and the token asset XRP poses a significant risk to the broader cryptocurrency sector. At stake is the classification of digital assets, which have been on a roll in recent years amid widespread adoption. Ripple Delisting The Ripple standoff emanates from the SEC reiterating that Ripple Labs
The number of COVID-19 cases following a second wave might be rising in Arizona and the US but Phoenix residents have had enough of Mask and stringent health guiders. Videos of anti-mask protesters in Phoenix’s Christown Spectrum mall have gone viral as residents complain about coronavirus health guidelines. Video of anti-mask protests inside Target store
Bitcoin price has continued to surge this year and currently hovers around $23K. However, miners don’t seem to dump to take profits and they might be HODLing waiting for a push to the $24,200 level. Mt Gox dumping 150,000 BTCs held Interestingly not even the movement of 600 BTC for Mt. Gox to another wallet
Bitcoin’s meteoric rise in 2020 continues to arouse interest from various quarters. With the crypto at record highs and showing signs of edging higher, investors are increasingly jostling for positions. Anthony Scaramucci is the latest to affirm he is bullish about the flagship cryptocurrency long term prospects. Growing Bitcoin Investments The former Trump administration, Communication
U.S real estate has started feeling the effects of the COVID-19 pandemic. Soaring home prices is the latest tailwind to hit the sector, which has so far remained resilient amid the challenging macro environment. Likewise, home sales contracted for the first time in more than six months as dwindling supply triggered a surge in prices.
As we come into the holiday weekend the stock market is showing a bit of volatility. But that’s to be expected with the chaos surrounding a potential stimulus package and a bill that is expected to stem a government shutdown. The Dow Jones closed up 0.38% to finish at 30,129.83. The NASDAQ closed down 0.29%
Congress passed a COVID relief bill along with the government funding needed to keep the federal government going after the Christmas holiday. But where there was initially strong conviction that President Trump would sign the bill into law, allowing stimulus checks to begin going out in only a few days, there is now cause for
Applications for first time unemployment benefits fell to a three week low right before the Christmas holiday break to 803,000. This number while a drop is still quite high and is reflective of the new layoffs that have started to ramp back up over the past month that are tied to increased coronavirus cases across
It’s not the best time to own bonds, but time to shore up cash buffers. Those are sentiments echoed by the head of BlackRock’s $2 trillion fixed-income division Rick Rieder. The world of depressed interest rates means the risk-reward in the fixed income sector, especially bonds is not the best for income-focused investors. Cash Over
Exchange-Traded Funds have been a bright spot in the vast capital markets for the better part of the year. However, in recent days, sentiments in the segment have taken a significant hit following the discovery of a new COVID-19 strain, believed to be 70% more transmissible. Demand for risky assets has since taken a hit,
The stock market came out mixed today as new details start to emerge about the stimulus package that’s set to be signed any day now. The Dow Jones came in down 0.67% at 30,015.51. The NASDAQ came in up 0.51% to close at 12,807.92 and the S&P 500 came in down 0.21% to close at
Even with an expanding economy in November the United States appears to be slowing even more as November was the worst on record yet for new coronavirus cases and the effects of that just keep rippling through the system. A measure that consolidates multiple measures to show total growth was at its lowest number since
As the wait is back on for a stimulus package for businesses and individuals to come through congress gets longer and the time before the holiday recess in markets gets closer investors eyes are officially looking at 2021. This is also a big couple of trading days for Tesla, as it’s stock price at the
The head of investment strategy at Wilmington Trust, Meghan Shue, in an interview about the probable state of the market year, was optimistic for the state of investing between now and late 2021 thanks to a wide variety of factors by saying that “‘We’re the most bullish on the market that we’ve been in about
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