The market managed to make a slight improvement to close out the week, though it’s still looking a bit rough overall. The Dow Jones closed down 1.50% at 30,932.37. The NASDAQ managed to hit a positive note, closing up 0.56% at 13,192.34. The S&P 500 closed down 0.48% to finish at 3,811.15. STOXX Europe also
Month: February 2021
Part of the stock market recovery from pandemic lows is coming from the individuals in the market. These individual traders are younger than the average investor, more aggressive than long-held firms, and are set to place bets on equities from any excess funds they may have, like new stimulus checks. Strategists Parag Thatte, Srineel Jalagani,
A female Marine officer’s video talking about sexual misconduct by another officer went viral on Twitter and Tiktok on Wednesday. The officer said that her perpetrator was a platoon sergeant in her unit and a uniformed victim advocate. Defense Secretary says there is a need for immediate answers for sexual assault cases Defense Secretary Lloyd
Cryptocurrency markets dropped value significantly at the start of the week, with billions of dollars shaved off the cryptocurrency economy’s capitalization. Despite this, cryptocurrency derivatives are surging, with interest in BTC futures commandeering almost $19.1 billion on Tuesday. Bitcoin price continues to show the volatility On Sunday, BTC hit an all-time high of $58,354 per
Today marked a bad day for the New York Stock Exchange, with all three major markets posting significant drops. The Dow Jones closed down 1.75% at 31,402.01. The NASDAQ closed down 3.52% at 13,119.43 and the S&P 500 closed down 2.45% at 3,829.34. STOXX Europe also had a bad day, though not by as much,
In a surprise for the weekly measure, the new applications for United States employment benefits fell substantially for the week ending February 20th, although the number is still very high compared to pre-pandemic averages but may be suggesting that the economy is beginning to rebound from the economic destruction of the winter months. Initial claims
The cryptocurrency sector continues to grow fast, but some with each network looking to attract more users. Crypto influencer Lark Davis has urged Ethereum network developers to quickly unveil ETH 2.0 to avoid losing users to other networks because of high gas fees. Ethereum developers should expedite ETH2.0 Davis has indicated that Ethereum competitors will
Home prices and sales surged in the past month in Southern California thanks to a surge in demand, record-low mortgage rates, and a limited supply of homes. According to a report by DQ News/CoreLogic, the median home price for all sales in the region was $599,500 in January. Housing demand high than listings pushing prices
The market saw a relatively good day today with all three major New York exchanges coming in positive. This included the Dow Jones, which rose 1.35% to 31,961.86; the NASDAQ, which rose 0.99% to 13,597.97; and the S&P 500, which rose 1.14% to close at 3,925.43. STOXX Europe saw an increase of 0.46% to close
With yields of treasury bonds rising, investors are looking to history to see exactly how further rate increases could hit the financial markets. Rising borrowing rates are easily a key factor that can move through the markets and disrupt the rally in equities that was underpinned by coronavirus stimulus spending as well as monetary policy
The past year has been great for the companies that run the natural resource mines of the world. The FTSE 350 mining index that includes major diversified mining titans such as Rio Tinto, BHP Group, Anglo American, and Glencore, have returned 46% on average to shareholders over the past year according to FactSet compared to
The first bitcoin exchange-traded fund (ETF) started strongly on its first trading day and sold $165 million worth of shares on the TSX exchange. Interestingly, the Purpose Bitcoin ETF (BTCC) outperformed on its first day, with investors trading almost 100 million shares of the fund, thus making it among the most active stocks on the
Bond yields continue to be performing well as optimism of an economic recovery starts to grow. The higher bond yields reflect economic optimism and have fuelled the buy-the-dip mentality with investors optimistic that vaccinations will spur an economic recovery. On Tuesday, Boeing Co. (NYSE:BO) borrowed $9.8254 billion in the corporate bond market via three-part financing
According to Goldman analysts, crude oil prices are likely to rise sooner, and her than anticipated thanks to energy demand recovery globally, which had outpaced additional supply from US shale and OPEC. The analysts raised their previous Brent price predictions by $10 per barrel to $70/bbl in Q2 and $75/bbl in Q3. Oil prices to
Elon Musk and Warren Buffett have been moving markets this with Musk’s tweets lifting Bitcoin, Dogecoin, GameStop Corp (NYSE:GME), and other assets. On the other hand, Buffet’s Berkshire Hathaway’s bets on Chevron and Verizon boosted the stocks this week. “Buffet Bump” helped Chevron and Verizon surge Buffett’s decisions have been moving markets considering most investors
This week isn’t looking so good for the stock market, at least starting out. The three major stock markets actually saw mixed results, but trending in the wrong direction. The Dow Jones managed to get a win today, rising by 0.09% to close at 31,521.69 while the NASDAQ closed down 2.46% at 13,533.05. The S&P
Investors are eyeing up the possibility of a massive long-term infrastructure spending plan even though lawmakers in the United States are focused on short-term coronavirus relief put forth by Joe Biden’s $1.9 trillion plan. Analysts are starting to embed expectations for infrastructure spending with a 25% growth in earnings projections for companies in the machinery
The stock market starts the week under some pressure as yields from bonds rise with the hopes of a global economic recovery is on the horizon. The hopes have been raised with the continued vaccine rollouts around the world and the $1.9 trillion stimulus package from the Biden Administration. THe yield of the benchmark 10-year
During these unprecedented social distancing times and staying at home, having a companion can help alleviate your mood. Although some people prefer pets such as cats and dogs, some don’t. But this should not be a problem as Panasonic has developed a companion robot with more personality that can keep you company at your residence.
Although 6G is years away, Apple Inc. (NASDAQ:AAPL) is already preparing for that to avoid relying on companies such as Qualcomm Inc. (NASDAQ:QCOM) with the next generation wireless tech gathering steam. The company launched its 5G iPhones recently, and already it is planning on developing iPhones using 6G wireless speeds, stating that it wants to
The end of the week came out quite balanced with all three major stock markets out of New York reporting barely any fluctuation for the closing numbers. The Dow Jones closed even today, at 31,494.32. The NASDAQ closed up 0.07% to close at 13,874.46 and the S&P 500 closed down 0.19% to finish at 3,906.71.
Applications for new United States unemployment benefits grew in the middle of February to the highest in four weeks to 861,000. This shows that Americans are still losing many jobs over a year after the beginnings of the coronavirus pandemic in the country. The initial claims field through the states rose by 13,000 to hit
Newly installed Secretary of the Treasury Janet Yellen said on Thursday that signs of improvement in the United States economy are not a reason to shrink the Biden administrations $1.9 trillion relief plan because they believe the economy is still in a “deep hole” and many are still hurting. In an interview Secretary Yellen
The case against a White Woman who had called police on a black man who was bird watching claiming that he had threatened her in New York City’s Central Park has been dropped. According to prosecutors, the white woman, Amy Cooper, completed a racial bias therapy course and requested for the criminal case’s dismissal. Manhattan
After hitting $50,000 at the beginning of the week, Bitcoin is holding around those levels. Its market capitalization is up to $923 billion. The largest cryptocurrency is on the path to hit the trillion-dollar crypto asset class. With the US dollar ending its winning streak on Thursday as quick economic recovery hopes dampen due to
The cryptocurrency industry is growing very fast, and most countries are looking to provide regulation to govern this rapidly expanding segment. For instance, Kyrgyzstan has moved to formally regulate the industry by laying the framework of licensing of crypto exchanges. Kyrgyzstan wants the crypto sector regulated like Forex Recently the Kyrgyz Republic’s National Bank revealed
US president Joe Biden has extended the ban on housing foreclosures up to June 30 to help renters who are struggling with the impact of the Pandemic. The foreclosures suspension for federally guaranteed loans was expected to expire at the end of March 31. Biden extends housing foreclosure According to data from Census Bureau, around
With the coronavirus pandemic exposing most sectors to anywhere from mild to major panic over the past year the adjustment to the real world has changed habits everywhere. Some sectors saw accelerated growth like online retailers and for others like alcohol manufacturers and fashion companies making items that are in high demand like sanitizer and
Retail sales in the United States jumped in January with the first growth in four months. This adds evidence that a rebound to the economy is in the picture after financial aid from the government helped influence spending and the number of coronavirus cases fell. Retail sales saw gains of 5.3% during the month of
Chinese asset manager CSOP Asset Management has launched the first exchange-traded fund in Hong Kong to track China’s Star Market. The Shanghai-based science and technology board has been drawing significant interest in the mainland since its establishment 18 months ago. CSOP Asset Management launches ETF to Track China’s Star Market The launch of CSOP Asset