Investors should be concerned about a potential war between Israel and Iran that could spread far beyond the Israeli border, Pulitzer Prize-winning columnist Thomas Friedman said on Tuesday. “From an investor point of view, if I’m ranking my event risk, North Korea is No. 1, but Iran versus … Israel […]
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Bitcoin is still not big enough to destabilize an economy, Fed nominee Powell says
A fall in cryptocurrencies wouldn’t be enough to destabilize an economy, Federal Reserve chair nominee Jerome Powell said Tuesday. “They don’t really matter today; they’re just not big enough. There isn’t close enough volume to matter,” Powell told the Senate Banking Committee at his confirmation hearing for the central bank’s […]
Small cap stocks could see a very volatile week
The small-cap Russell 2000 is coming into focus for one equity strategist this week as the Senate is expected to debate the proposed tax reform bill. Matt Maley, equity strategist at Miller Tabak, will be watching the small-cap index because it is particularly sensitive to the ebbs and flows of […]
Oil prices will probably sell off after a key meeting of big producers. Here’s why
Market watchers see few opportunities for oil prices to rally — but plenty of room for them to fall — after a critical meeting of energy ministers later this week. About two dozen oil exporters, including top producers Saudi Arabia and Russia, meet on Thursday in Vienna to discuss extending […]
Bitcoin could ‘easily’ reach $40,000 by the end of 2018, hedge fund legend Novogratz says
Former Fortress hedge fund manager Michael Novogratz said Monday that bitcoin can multiply more than four times in roughly the next 13 months. “Bitcoin could be at $40,000 at the end of 2018. It easily could,” Michael Novogratz said Monday on CNBC’s “Fast Money.” “Ethereum, which I think just touched […]
One barometer of risk is within striking distance of a key level
Despite relative calm in the foreign exchange market at the beginning of this post-holiday week, the market will be closely watching persistent dollar weakness, in particular the key 111.0 support level in the relationship between the U.S. dollar and the Japanese yen. Some equity traders pay close attention to the […]
The weakness in dollar/yen price action is a bad sign for dollar bulls
Despite relative calm in the foreign exchange market at the beginning of this post-holiday week, the market will be closely watching persistent dollar weakness, in particular the key 111.0 support level in the relationship between the U.S. dollar and the Japanese yen. Some equity traders pay close attention to the […]
Bitcoin exchange Coinbase has more users than stock brokerage Schwab
The operator of the largest U.S.-based bitcoin exchange has more users than brokerage Charles Schwab. “With all the talk about bitcoin, a good deal of people are also starting to open accounts where they can buy and sell crypto-currencies,” Bespoke Investment Group said in a Friday blog post. Schwab reported […]
Wall Street analysts dub Gap the ‘weekend winner,’ citing strong mall traffic
Wall Street is declaring Gap Inc. a “weekend winner” as strong department store traffic over the Thanksgiving and Black Friday holiday hints at a better-than-expected holiday season. While analysts were impressed with mall shopping overall, Gap companies including Old Navy were the “biggest surprises.” “Traffic and conversion appeared solid on […]
Veteran strategists see bull market nearing end, after one final eruption upward
Broad agreement seems to be spreading on Wall Street that we are late in this economic and market cycle. But what exactly does that mean for investors when no one knows for sure how long it can “stay late” — or how generous the market might be before the cycle […]