CME, the world’s largest futures exchange, launched its own bitcoin futures contract Sunday under the ticker “BTC.” The futures fell more than 4 percent to $18,665 about two hours after opening at $20,650 and rising slightly. The move lower was a stark contrast from the 19 percent surge in CBOE […]
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Cramer’s game plan: Strong earnings will drive the market higher
As the bull market surged higher despite holdups in the Republican tax overhaul, CNBC’s Jim Cramer took the temperature of the market to see if the strength could continue. “We still don’t even know what’s finally going to happen in Washington, but as I told you last night, we’re in […]
Seth Klarman calls bitcoin a ‘trading sardine,’ others say ‘speculative mania’ — They are right
As speculative fever for digital currencies surges this year, investors may want to heed the warnings of the most successful investors of our generation. The biggest names in investing — including Druckenmiller, Dalio, Chanos, Gundlach and Klarman — are all now criticizing bitcoin, saying the pre-eminent cryptocurrency has critical flaws. […]
UBS: Expect swift market rally if tax bill passes and Target, Raytheon to lead
Investors should expect another U.S. stock-market rally if the Republican tax bill passes since the market has not fully baked it in, a strategist at UBS says. Keith Parker, a strategist at UBS who has a 3,300 target on the S&P 500 for 2018, said only 35-to-45 percent of the […]
A leading indicator for stocks just entered a death cross, but it might not be so bad
A leading indicator for stocks just entered a death cross, but the traditionally ominous signal might not be as scary as it’s cracked up to be. The high-yield corporate bond ETF, the HYG, has fallen 2 percent from its 52-week high, with its short-term 50-day moving average crossing below its […]
The day bitcoin futures dropped was the first day that traders were allowed to bet against it
The first week of Cboe’s bitcoin futures trading was relatively stable, except for a sudden drop Wednesday afternoon. It turns out that was the same day one of the largest brokerages trading the futures, Interactive Brokers, began allowing clients to short, or bet against, the futures. “The introduction of short […]
JPMorgan unveils its top tax stock plays — including Hilton, Southwest — with GOP nearing victory
Investors are scrambling to determine which companies will benefit most from President Donald Trump’s policy initiatives, including the current Republican plan for tax cuts. JPMorgan’s top analysts weighed in on the discussion, with Dubravko Lakos-Bujas – the bank’s head of U.S. equity strategy – telling clients that corporate tax cuts […]
Dow stock Nike is a ‘screaming sell,’ says market watcher
Nike shares have moved into high gear, surging nearly 30 percent this year to their highest level since 2016, and Larry McDonald of the Bear Traps Report says the Dow stock may have run too far, too fast. The athletic apparel maker has been on a tear this week, rallying […]
Goldman: Earnings from these retailers, including Best Buy and CarMax, will surge under GOP tax plan
President Donald Trump and the Republican Congress will likely pass tax reform in the near future. Goldman’s retail analyst believes retail stocks will be big winners from tax reform. The Republican current deal reportedly features a corporate tax rate reduction to 21 percent from 35 percent, starting in 2018, and […]
Cboe bitcoin futures surge 8% Friday, head for winning first week
Cboe‘s bitcoin futures looked set to end their first week of trading higher on slightly stronger demand. The futures contract, which trades under the ticker XBT and expires in January, triggered a two-minute trading halt at 5:37 a.m., ET, Friday and was last trading 8 percent higher at $18,170, as […]