A Merger Called Off, A Bear Market, and More – Financial News Summary for Tuesday, January 13, 2020

A Potential Merger Scrapped
ETFS, Gold, Investing, Market Insider
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The stock market saw a slight increase today with all three major New York stock exchanges coming in with positive numbers. The Dow Jones reported a 0.19% increase to close at 31,068.69. The NASDAQ reported an increase of 0.28% to close at 13,072.43 and the S&P 500 reported an increase of 0.04% to close at 3,801.19. STOXX Europe also closed up today, coming in at 408.61.

 

Visa and Plaid were looking at a merger worth $5.3 billion, but it seems that the Department of Justice has stepped in and some changes had to be made. The company has since decided that they will end the merger and the DOJ has agreed to drop the lawsuit in response. Even still, the company says that they believe that the merger would have ultimately been approved.

“This past year saw an unprecedented uptick in demand for the services powered by Plaid, and our priority is to support the hundreds of millions of people who now rely on fintech,” said Zach Perret, CEO and co-founder of Plaid, in a statement.

 

Corporate America is backing away from many Republican lawmakers following last weeks riots, but just how long will they be able to hold to that model when Republican’s are the ones commonly calling for tax breaks and laws favorable to their bottom line? When it comes time for Democrats, currently in control of both the house and the Senate as well as the White House, to start proposing tax increases for these wealthy corporations, will they be able to stand by what they’re saying now and stay out of the political arena?

 

Bitcoin is entering into a Bear market that could spell intrigue for a lot of investors. That doesn’t mean that everyone is poised to think good things about this company, however, or the cryptocurrency that it represents. Rather, there are many who say that the cryptocurrency market is an extremely volatile one, and one that definitely should not be considered as a method of investing and earning returns. No matter what these people say however, Bitcoin is definitely making waves.

“If consumers invest in these types of product, they should be prepared to lose all their money.” States the UK financial regulator.

Crude oil closed at $53.29 yesterday, marking a slight improvement over the course of the day. The treasury yield held steady today with the 10 year yield coming in at 1.15 and the 30 year yield coming in at 1.88.

 

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