Traders bet on Cisco and against Best Buy ahead of earnings next week

Traders bet on Cisco and against Best Buy ahead of earnings next week

Next week key technology and retail names are set to release earnings, and traders are making big bets ahead of those reports. In keeping with the recent market trends, they are betting that Cisco moves higher after earnings, while retailer Best Buy will trade down. This week bullish investors bought more than 11,000 Cisco calls with a November 34.50 strike price. The San Jose, California-based company is scheduled to report earnings Wednesday after the bell….

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Bitcoin drops from record after upgrade called off, but offshoot ‘bitcoin cash’ surges more than 20%

Bitcoin drops from record after upgrade called off, but offshoot ‘bitcoin cash’ surges more than 20%

Bitcoin fell Friday to its lowest since Nov. 1 as traders bet on its offshoot, bitcoin cash, instead. The offshoot digital currency surged more than 20 percent to its highest since Aug. 20, according to CoinMarketCap. Bitcoin cash split off from the original version of bitcoin in August as a minority group of developers decided to implement an upgrade in an effort to increase transaction speeds for the digital currency. An alternative bitcoin upgrade proposal,…

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A central bank stock boom in Asia that’s reached its highest level in 25 years

A central bank stock boom in Asia that’s reached its highest level in 25 years

This year has been one of the best years for the stock market in history — and it’s not just U.S. stocks that have been rising. Equities around the world have been on a tear. One of the markets that’s been doing particularly well is Japan, where stocks have seen an under-the-radar rally that’s recently accelerated since the landslide victory of Prime Minister Shinzo Abe. Since Abe’s victory on Oct. 22, the benchmark Nikkei 225…

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Charts show Apple’s market cap could pass $1 trillion by year-end: Technician

Charts show Apple’s market cap could pass $1 trillion by year-end: Technician

Apple could soon surpass a major milestone, according to TradingAnalysis.com founder Todd Gordon. Looking at a chart of the tech giant, Gordon points out what he describes as a “very strong” uptrend going back to the summer of 2016. Drawing a parallel channel line leads the technician to conclude that Apple could rally to meet the top line or the parallel channel, which sits at around $200. That’s a nearly 14 percent rise from current…

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It’s not just the US — emerging markets are having a record year

It’s not just the US — emerging markets are having a record year

Equity markets in the U.S. have notched record after record in 2017, but emerging markets are on pace for a record year of their own. One popular emerging markets-tracking exchange-traded fund, the iShares MSCI emerging markets ETF (EEM), has rallied 32 percent this year, on pace for its best annual performance since 2009. Its strong performance comes on the heels of a historically weak U.S. dollar relative to rival currencies, and some believe emerging markets…

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Alibaba’s Singles’ Day lures top global brands, amassing billions in sales

Alibaba’s Singles’ Day lures top global brands, amassing billions in sales

For Alibaba, the future is retail. And a lot of it. This Saturday, the Chinese e-commerce giant will hold its annual Singles’ Day event, which last year grossed a whopping $17.8 billion in sales, up from $14.3 billion in 2015. To put those sales figures into perspective, Singles’ Day has surpassed the transaction volume for America’s Black Friday and Cyber Monday events combined, according to Fung Global Retail & Technology (FGRT). The day also far…

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A leading indicator for stocks is breaking down

A leading indicator for stocks is breaking down

One leading indicator for the equity market is breaking below a key support level, a move that could have negative implications for stocks. The iShares high-yield corporate bond exchange-traded fund, the HYG, has fallen below its 200-day moving average, which it had held above for much of this year. This move concerns Matt Maley, equity strategist at Miller Tabak. Here’s why. • The high-yield market has begun selling off in the past week, Maley wrote…

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The Nasdaq is having an unprecedented year, and just set another historic record

The Nasdaq is having an unprecedented year, and just set another historic record

If 2017 already felt like it was shaping up to be a record year for market records themselves, there’s one more statistic to add to the history books. The Nasdaq composite has hit more all-time closing highs this year than any year on record, according to a new report from LPL Financial. This year has seen 64 all-time record closing highs, topping records set in 1980 and 1999. “This is just another small way of…

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Stocks seeing rare stretch of ‘overbought’ conditions, and Bespoke’s Hickey calls it ‘impressive’

Stocks seeing rare stretch of ‘overbought’ conditions, and Bespoke’s Hickey calls it ‘impressive’

It appears stocks are heading deeper into overbought territory with this week’s new highs. According to Bespoke Investment Group co-founder Paul Hickey, prices in the S&P 500 haven’t justified fundamentals for more than 40 trading days in a row. That’s the longest streak for the index in nearly six years. There’s a specific process Hickey goes through to get these levels. “One of the things we measure on a regular basis is how far ……

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Trump’s China trip is a test for US natural gas exports

Trump’s China trip is a test for US natural gas exports

President Donald Trump‘s entourage on his trip to Asia includes a pair of natural gas executives, a sign that the White House is eager to build on progress earlier this year to ship more of the fuel to China. Natural gas demand in China is rising and poised to boom in coming years as the world’s second largest economy aims to reduce its reliance on coal-fired power. The Trump administration is making it a priority…

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