Bitcoin is gaining bullish momentum after the cryptocurrency bounced off the lower Bollinger Band. On Wednesday, a wave of selling dominated the BTC market after the price dropped below $56,000. BTC ready to rally to new all-time high Unfortunately, the selloff resulted in $1.4 billion liquidations, with some analysts suggesting that this is the last
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The cryptocurrency industry has been performing exceptionally this past, and companies involved in the sector are reaping big. For instance, crypto exchange Coinbase has announced that its Q1 revenue was up 800% YoY, but warned that there is a lot of market volatility currently to issue solid financial projections. Coinbase expects exceptional 2021 despite market
US President Joe Biden launched an infrastructure packaged dubbed the American Jobs Plan at the end of last month, which includes investments to re-energize power infrastructure and enhance renewable energy. One clean energy ETF, Invesco Solar ETF (NYSEAMERICAN:TAN), looks to leverage opportunities in the sector. Invesco Solar ETF leveraging clean energy opportunities The fund plans
Credit Suisse Group (NYSE:CS) revealed last week that it could incur heavy losses following the US hedge fund Arhegos Capital’s meltdown. As a result, the company reported several high-level departures and has proposed dividend cuts as it considers the heavy losses from the saga. Archegos Capital saga cost Credit Suisse $4.7 billion charge Archegos Capital’s
The Kingdom of Saudi Arabia raised oil shipment prices for customers in its main Asian market, signaling the country’s economic recovery confidence. The move comes after OPEC+ members led by Saudi Arabia and Russia agreed to increase daily oil production between May and July by over 2 million barrels. OPEC+ to ease oil production curbs
The market has been in correction mode since topping record highs in February. A 5% plus pullback in recent weeks has aroused concerns given the sell-offs that have come into play. Amid the sell-off, fundamentals have continued to improve, affirming that the recent pullback might be a minor correction pending further upside action. Market Bounce
Bitcoin has once again bounced back after a 10% plus correction. The bounce-back does not come as a surprise as the cryptocurrency has continued to send shockwaves in the mainstream industry. Likewise, it continues to elicit interest from mainstream entities looking to profit from the massive price swings that remain in play. CME Group Bitcoin
It was highly expected that the COVID-19 pandemic would trigger massive defaults in the real estate sector on shuttering offices, hotels, and stores. A group of investors holding a record hoard of cash had sought to benefit from any upheavals in the industry that would result in a significant drop in property prices. Real Estate
Although Tesla Inc. (NASDAQ:TSLA) has benefited from the first-mover advantage in the electric cars market, with an increase in EV demand comes competition. One of Tesla’s competitors that deserves a mention is Lucid Motors, which is currently preparing to go public through a SPAC merger with Churchill Capital IV (NYSE:CCIV). Investors could benefit from Lucid
News Corp (NASDAQ:NWSA) is almost finalizing an agreement for the acquisition of education publisher Houghton Miffin Harcourt Co.’s consumer’s arm. The Wall Street Journal publisher is expanding its strategic growth areas after shedding non-core assets, and this will mark the company’s second deal in a week. News Corp expanding strategic growth areas According to people
Bitcoin growing popularity and use shows no signs of slowing down. If there was any doubt that the flagship cryptocurrency will ever find its way into the mainstream sector, then Tesla Inc. (NASDAQ:TSLA) might as well have cast them out. A confirmation that the EV giant will start accepting Bitcoin payments for its cars affirms
China is leading the charge when it comes to fiat digitization. The country’s central bank has already unveiled a digital version of the yuan as it moves to take advantage of blockchain technology. While the ledger technology is designed to enhance anonymity, that won’t be the case with digital yuan. Digital Yuan The head of
The US real estate sector is heating up amid accelerated economic recovery fuelled by an aggressive vaccination campaign. Strong demand for new homes at the back of declining inventories point to a market-ready to take off. Likewise, deals and activities in the sector are increasingly edging higher to the extent of Compass Inc. plotting a
On Monday, global equities inched higher, with safe-haven assets such as US Treasuries rallying as investors weighed the increasing COVID-19 cases in Europe against the break in the recent bond yields run-up sparked by global inflation fears. Replacement of Turkish Central bank governor unsettles equity markets It was an unsettled day for equity markets, with
Chubb Ltd (NYSE:CB), the largest and most popular property-casualty insurers in the US, has announced plans to acquire Hartford Financial Services Group Inc. (NYSE:HIG). Following the proposed takeover news, Hartford shares surged over 18% and were temporarily halted for volatility. Chubb to acquire Hartford Hartford confirmed receipt of an unsolicited, non-binding takeover bid from Chubb.
Bitcoin acceptance by mainstream institutions continues to gather momentum as Morgan Stanley became the first banking institution to accept digital currency as an emerging asset class. The move by the financial institution positions it in a tight spot with other banking institutions expected to follow. Morgan Stanley to launch three crypto funds In a statement,
A recent survey commissioned by Coldwell Banker Real Estate LLC, a Realogy (NYSE:RGLY), has established that the real estate market is booming into this decade, with one in five homeowners planning to sell in the next year. Coldwell ad to feature at the NCAA Men’s College Tournament The Harris Poll surveyed 1,300 homeowners in the
Transaction volume in the South Korean cryptocurrency markets exceeded the stock market’s daily average transaction volume, as BTC rose to a new all-time high of $61,000. Crypto market volume surges on BTC price rise to $61,000 CoinMarketCap data showed that the combined 24-hour volume to top south Korea-based digital currency exchanges Bithumb, UPbit, Korbit, and
According to sources, a $630 million deal that would have reshaped the American newspaper industry has experienced complications barely a month after reaching an agreement. Following the complications, New York hedge fund Alden Global Capital could have a deal with a new player for the Tribune Publishing business. Agreement between Alden and Tribune publishing falls
On Monday, US markets and stock ETFs diverged as economically sensitive sectors left the once high-flying tech stocks in the dust. SPDR Dow Jones Industrial Average ETF (NYSEAMERICAN:DIA) was up 2%, Invesco QQQ Trust (NASDAQ:QQQ) dropped 1%, while iShares Core S&P 500 ETF (NYSEAMERICAN:IVV) jumped 0.9%. High-growth tech stocks pull back amid inflation fears The
There have been growing concerns gripping markets as Treasury yields keep rising, but, for US companies, it is clear that the right time to borrow is now. This comes as inflation fears continue to increase despite the economy seemingly stabilizing. Companies fear they might miss on borrowing window The rise in long-end rates to the
Last week Elon Musk saw his net worth plunge after stock markets took a hammering, with Tesla Inc. (NASDAQ:TSLA) stock’s recent surge quickly unraveling. Rising bond yield leading to massive selloffs Currently, there is growing concern among Wall Street investors regarding the rising bond yields that could potentially make borrowing expensive. This could potentially affect
The aircraft leasing segment is on the verge of the biggest shakeup in over a decade as the industry’s two top players General Electric Co.’s (NYSE:GE) GE Capital Aviation Services (GECAS), and AerCap consider a business combination deal. GECAS and Aercap to combine in a $30 billion deal According to sources familiar with the matter,
The US SEC is working on the first regulation guidelines for crypto after President Joe Biden’s nominee to lead the agency said that they will offer guidelines to provide clarity and guidance to the evolving market. The Crypto sector needs regulation Gary Gensler shared his thoughts about handling cryptocurrencies with the Senate Banking Committee during
Although active managers might have been busy polishing their environmental, social, and government (ESG) credentials in the past year, investing in the space is not a stock picker’s preserve. It is important to note that passive funds play a vital role in the ESG space, with most of them have considerable following ranging from iShares
It has been a tough week for US treasury bonds after a gentle decrease in prices became a rush. With government bond yields dropping to low levels, investor returns for insurers and pension funds have been wiped out. Inflation worries pushing bond yields down Growing inflation concerns have been pushing Treasuries down for almost a
In the last two weeks, stocks had a touch-go as the increasing ten-year yields impact market sentiment. However, despite this pullback, the closely watched “Buffet Indicator” suggests that the wider market is still pricey. The current stock market overvalued Usually, the “Buffet Indicator,” as it is known in Wall Street circles, takes the Wilshire 5000
Anglo-Swedish drugmaker AstraZeneca (NASDAQ:AZN) has sold its entire 7.7% equity stake in COVID-19 vaccine producer Moderna Inc. (NASDAQ:MRNA) for over $1 billion. The company sold the entire stake over the course of 2020, cashing in the meteoric rise of the US biotechnology firm’s shares following its success in the production of a COVID-19 vaccine candidate.
ByteDance Ltd agreed to settle a class-action suit by paying $92 million over allegations that its video-sharing app, TikTok illegally harvested personal user data. According to the lawsuits, the app is said to have collected users’ data without consent and shared the information with china-based third parties. Tiktok to settle a class-action suit in the
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
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