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 […]
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Bitcoin falls by more than $2,000, briefly dropping through $14,000 mark
Bitcoin and several other major cryptocurrencies plunged Thursday evening New York time as the end of an exponential year of growth neared. The slashing decline triggered temporary, built-in trading halts in the bitcoin futures traded on the CME and Cboe. Bitcoin plunged more than 17 percent to a low of […]
Bitcoin falls by more than $3,000, dropping through $13,000 mark
Bitcoin and several other major cryptocurrencies plunged Thursday evening New York time as the end of an exponential year of growth neared. The slashing decline triggered temporary, built-in trading halts in the bitcoin futures traded on the CME and Cboe. Bitcoin plunged more than 20 percent to a low of […]
Tax bill ‘winners’ could help drive the stock market’s traditional year-end Santa rally
Oh, by gosh, by golly, it’s time for the Santa rally. According to “Stock Trader’s Almanac,” the Santa rally officially begins Friday, the start of the final five trading days of 2017, and ends at the close Jan. 3, the end of the second trading day of the new year. […]
Three Dow stocks, including Microsoft, are poised for a major breakout
It’s been a record-breaking year for the markets as the major indexes track for their best annual performances since 2013. With the Dow sitting just a hair below yet another major milestone — 25,000 — Rich Ross of Evercore ISI says there are three names that could propel the index […]
Stocks are the most overbought in 22 years, and history says that’s bullish
It’s proved to be a major market theme this year: Stocks are hitting all-time high after all-time high in what appears to be an unstoppable juggernaut of an equity rally. Many say that’s cause for concern, as the broader market has seen so few pullbacks this year amid virtually no […]
History shows bond yields could reverse next week after sudden spike
The Treasury market was buzzing with tax talk this week, and yields quickly moved higher. But all the chatter about a bigger deficit, more government debt issuance and fears of faster Fed interest rate hikes could take a rest next week — and bond prices could move higher. The 10-year […]
$24 million iced tea company says it’s pivoting to the blockchain, and its stock jumps more than 200%
In a move that caused double takes on Wall Street trading floors and prompted comments on Twitter about how this must be the top of bitcoin mania, a little known micro-cap stock called Long Island Iced Tea Corp said Thursday it’s now “Long Blockchain Corp,” and its stock leaped more […]
No, bitcoin isn’t likely to consume all the world’s energy in 2020
Here are a few things you might not know about bitcoin, the cryptocurrency that has captivated the financial world after skyrocketing about 2,000 percent in a year to more than $19,000 per coin. The computer process that generates each coin is said to be on pace to require more energy […]
No, bitcoin isn’t likely to consume all the world’s electricity in 2020
Here are a few things you might not know about bitcoin, the cryptocurrency that has captivated the financial world after skyrocketing about 2,000 percent in a year to more than $19,000 per coin at one point. The computer process that generates each coin is said to be on pace to […]