Bitcoin rallied Tuesday, recovering from a sharp sell-off late last week. The digital currency briefly climbed more than 12.5 percent to above $16,100 late Tuesday morning and was trading near $15,965 late in the afternoon, according to Coinbase, the leading U.S. platform for trading major digital currencies. However, Coinbase said […]
CNBC News
Fundstrat’s Tom Lee says he’s a buyer of the bitcoin pullback, sees more than 35% gains from here
The only major Wall Street strategist to formally cover bitcoin raised his price target on the digital currency the day of a massive price rout. “We are buyers of bitcoin on this pullback,” Fundstrat co-founder Tom Lee said in a Friday note. “The intrinsic/fundamental value of bitcoin has risen in […]
Four Dow stocks, including Walmart, are trading at extremes
A handful of Dow stocks are trading well above their 200-day moving averages. Despite trading at relatively extreme levels, some investors still see them as buys. Shares of Walmart, Intel, Caterpillar and Boeing are respectively trading 22 percent, 24 percent, 32 percent and 33 percent above their 200-day moving averages. […]
Investors yank billions out of market following Trump’s tax bill win
As Congress moved the tax bill forward, investors pulled the highest amount out of equities funds in more than three years, suggesting some investors may see “tax cuts” as already priced in. According to Bank of America Merrill Lynch, redemptions from equities funds and ETFs totaled $14.5 billion, the fourth […]
Financials, health and consumer discretionary are neck-in-neck this year, here’s the one to buy now
Three sectors have seen the same amount of gains this year, but one will come out on top, according to one technician. Financials, health care and consumer discretionary sectors have rallied about 21 percent this year. Piper Jaffray’s Craig Johnson says that from a technical standpoint, financials are looking the […]
Financials, health and consumer discretionary are neck-and-neck this year, here’s the one to buy now
Three sectors have seen the same amount of gains this year, but one will come out on top, according to one technician. Financials, health care and consumer discretionary sectors have rallied about 21 percent this year. Piper Jaffray’s Craig Johnson says that from a technical standpoint, financials are looking the […]
Bitcoin plunges below $11,000 in volatile trading on Coinbase as rout accelerates; now down 40 percent from record
Bitcoin plunged Friday, taking the digital currency briefly below $11,000 and down 44 percent from a record high hit at the start of the week. Bitcoin had rallied to a record high above $19,800 on Sunday and was trading near $15,500 for much of Thursday New York time, according to […]
It’s not just bitcoin mining — real, pure metals and miners are on a tear
Quietly, while bitcoin and bitcoin mining have been grabbing headlines, actual metals and miners have been on a tear. The S&P metals and mining exchange-traded fund, the XME, has jumped nearly 13 percent in the last month, rising in 14 of the last 16 sessions. Some market watchers see further […]
Bank stocks are breaking out and could take the sector to uncharted territory in 2018
Financials have surged 7 percent in the last month, and Todd Gordon of TradingAnalysis.com says they’ll continue to rally into 2018. According to Gordon, the current economic outlook seems to be in favor of bank stocks, thanks to recent moves in one area of the market: bonds. “Bonds are pressing […]
The stock rally is unfolding so fast investment banks are already raising their 2018 forecasts
Credit Suisse and Canaccord Genuity joined a growing list of top Wall Street banks that have raised their 2018 outlooks for U.S. equity markets before the year has even started. The two echoed peers in citing the Republican tax bill in adjusting their S&P 500 targets higher, with a reduced […]