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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Despite the COVID-19 pandemic, real estate investment has remained strong with the considerable foreign capital increase. For instance, the Pasadena subsidiary of a Chinese-based corporation has acquired a Calabasas office campus for around $79 million, according to the real estate company handling the deal. Gemdale acquired the Park Calabasas office campus. Gemdale USA purchased the
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
Thousands of amateur investors learned a painful lesson last week that stocks don’t always rally after an IPO. The investors increasingly see their fortunes Deliveroo dissipate as the newly listed food delivery app stock continues to edge lower. Deliveroo IPO Deliveroo was expected to be a runaway success as it went public as a darling
George Floyd’s death, in the hands of a brutal police officer sparked widespread riots that brought many cities in the US to a standstill. The trigger was a viral video that showcased police brutality in one of the most despicable actions. While it was highly expected that the video would be the center of the
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
Two BlackRock ETFs are facing the prospect of selling as much stock of two energy companies as traded in 40-50 days to comply with dramatic index rebalancing. Also, the ETFs might need to sell over 10% of the free-float market cap of some other entities if the shake-up goes on as proposed. Stocks to be
In the last three months, companies issued $140 billion in the junk bond market in the US, surpassing the record rush for cash in Q2 2020 when groups rushed to fortify their finances to survive the impacts of the COVID-19 pandemic. Investors taking advantage of low rates to invest in high yield bonds According to
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
Robinhood is creating a platform to “democratize” initial public offerings (IPOs), including its upcoming IPO. According to people familiar with the matter, the platform will allow users on the trading app to buy into IPOs alongside Wall Street funds. Robinhood curving shares in its IPO for its users Interestingly, this is a move that could
With Easter around the corner, we might be late for a new Peeps flavor, but this time they have partnered with Pepsi to make a splash in soda form. Peeps’ return from a long hiatus included new products such as cereal and makeup, but the candy brand is launching a soda form for this Easter.
American division along the race line continues to widen by the day. While the focus for the longest time has been on African Americans discrimination, Asians are also starting to feel the heat going by recent shootings in Atlanta. While mass shootings appear to have gathered pace in recent years, it’s only now that they appear
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
Bonds are under immense pressure amid growing expectations of accelerated economic recovery. Bonds of highly rated companies in the US have lost an average of 5.3% since the start of the year, marking the second-worst start to a new year since 1996. Bonds Sell-Off The sell-off in the bond market comes amid growing expectations that
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
Facebook Inc. (NASDAQ:FB) is expected to launch its augmented reality (AR) glasses this year and it has announced that it is working on a wristband to control them. The company announced that individuals wearing the wristband can interact with the virtual sphere by just moving their fingers. Facebook launches wristband supporting AR glasses This new
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
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
Verizon Communications Inc. (NYSE:VZ) has paid $8.2 billion to the US Treasury, and it plans to go to the debt market to get the remaining $36 billion finances due this month for 5G airwaves that the company needs to expedite growth. Verizon looking for finances to expedite 5G deployment Math Ellis, the company’s CFO, said
With demand for consumer goods, logistics spaces, and e-commerce increasing in recent months, Forney in Kaufman County has been attracting distribution and warehouse projects. The latest company making a move in Forney is VanTrust Real Estate LLC which is planning a major industrial development project in the community. VanTrust building a distribution center in Forney
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
In the next three decades, US federal debt is likely to increase more than double the gross domestic product (GDP) to around 202% by 2051. According to the Congressional Budget Office, the debt growth will increase fiscal crisis risk despite the dangers appearing to be low in the near term. US federal debt to double
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
Mall values in the US have dropped by almost 60% following appraisals in 2020, which is a sign of more struggles for retail properties despite the economy emerging from COVID-19 enforced lockdowns. Retail property values depressed In 2020 around 118 retail properties anchored with commercial mortgage securities debt erased $4 billion in value following reappraisals.
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.
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