The bitcoin craze could pose a real risk to the broader market next year, according to Deutsche Bank. Torsten Slok, the firm’s chief international economist, sent to clients a list of significant risks to the market in 2018. Included on that list: A crash in the price of bitcoin, higher […]
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Emerging markets just broke through ‘unbelievably strong support,’ technician says
Even as emerging market equities have posted a banner year in 2017, some portfolio managers and technical strategists are concerned about troubles developing in the near term. One large emerging markets exchange-traded fund, the EEM, was on pace for its second straight week of declines despite catching a bid in […]
A massive short squeeze in Shake Shack is sending shares soaring
Wall Street loves to hate Shake Shack. Shares of the burger chain have soared more than 35 percent in the last three months. Despite the rally, it’s still one of the most heavily shorted stocks in the market. According to FactSet data, Shake Shack short interest comes in at 48 […]
Biotech Sage Therapeutics skyrockets more than 70% after depression drug breakthrough
Shares of Sage Therapeutics soared 75 percent on Thursday after the company announced positive results in the testing a major depressive disorder (MDD) treatment. Sage said in a release that 64 percent of patients achieved MDD remission using the SAGE-217 drug in the 15th day of treatment. This is the […]
Analyst downgrades Expedia, saying stock chart is signaling trouble ahead
Stronger business travel in 2018 will likely mean higher profits for hotels, airlines and car rental providers, but online travel company Expedia won’t be in on the windfall. Growth concerns have dogged Expedia throughout the year, and MKM Partners analyst Christopher Agnew says these worries aren’t likely to resolve themselves […]
Biotech stocks are at a critical juncture, strategist says
Biotech stocks have lagged recently, as the Nasdaq biotech ETF, the IBB, has declined for three-straight sessions and is down more than 10 percent from its October high. On a technical level, the group’s charts concern Miller Tabak equity strategist Matt Maley. Here’s why: • On Wednesday, the ETF broke […]
LinkedIn report shows a 26% rise in November hiring
U.S. employers hired more people in November than last year, but fewer than in October of this year, according to the LinkedIn Workforce Report. Hiring across the U.S. was 26 percent higher last month than a year earlier, the data showed. The seasonally adjusted hiring figure was 2.2 percent lower […]
Bitcoin soars past $15,000, just hours after crossing $14,000
Bitcoin rocketed higher Thursday, crossing the $15,000 mark just 10 hours after topping $14,000. The landmark happened on the Coinbase exchange at 10 a.m. London time on Thursday, and it traded as high as $15,200 on that platform. That said, there are often significant price differentials on different bitcoin exchanges. […]
Bitcoin blasts past $14,000 — less than 24 hours after crossing $12,000
Bitcoin rocketed higher Wednesday, crossing the $14,000 mark on at least one exchange less than 24 hours after topping $12,000. The landmark happened on the Coinbase exchange just before 6 p.m. ET, and it traded as high as $14,344.22 on that platform. That said, there are often significant price differentials […]
Hot housing stocks are cooling off, and there could be more trouble ahead
Suddenly, housing stocks have gone from hot to not. The iShares U.S. Home Construction exchange-traded fund, the ITB, has fallen more than 1 percent in the last week after advancing more than 50 percent year to date. The ETF is still the best-performing U.S. industry group ETF this year, according […]