Japan‘s bitcoin craze could help the country’s economic growth, research analysts at Nomura Instinet said. “We estimate the wealth effect from unrealized gains on Bitcoin trading by Japanese investors since the start of [2017], and estimate a potential boost to consumer spending of ¥23.2 billion to ¥96.0 billion” ($206.7 million […]
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CEO of soaring ‘blockchain’ stock sells about $870,000 worth of the shares
The head of a small biotech company-turned-crypto has made hundreds of thousands of dollars in stock sales already. John O’Rourke, president, CEO and chairman of Riot Blockchain, disclosed in a Friday filing with the U.S. Securities and Exchange Commission that he sold 30,383 shares at a weighted average price of […]
One big biotech stock looks poised for a breakout in 2018, technician says
This year could prove to be another big year for biotech stocks after an impressive run in 2017. The SPDR S&P Biotech exchange-traded fund (XBI), was among the best-performing U.S.-listed ETFs last year, with a 43 percent annual gain. The only ETF that outperformed it was the iShares U.S. Home […]
Bitcoin rises after report says early Facebook investor Peter Thiel is buying massive amounts
Founders Fund, run by Peter Thiel, a PayPal co-founder and early Facebook investor, has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation. Bitcoin rose more than 11 percent to trade near $14,711, according to Coinbase, amid the report. The venture […]
A Merrill Lynch indicator that predicted last year’s surge sees another 19% gain in 2018
Stocks could pop nearly 20 percent in 2018 according to a contrarian indicator from Bank of America Merrill Lynch which predicted last year’s surprising surge. The investment bank’s so-called Sell Side Indicator measures the average equity allocation recommended by its fellow Wall Street bank peers. The indicator shows Wall Street […]
There’s a new hottest cryptocurrency of 2018 so far: stellar
The hottest digital coin as 2018 kicks off is stellar, which has climbed more than 65 percent since Friday into the 10 largest cryptocurrencies by market capitalization. By Tuesday, stellar had a market cap of $10 billion as the eighth-largest digital currency, according to CoinMarketCap. The digital coin traded 17.5 […]
Apple iPhone X expectations are ‘still too high’ despite stock pullback, analyst says
Apple iPhone X volume expectations are still too high despite a recent correction in investor expectations, according to one Wall Street firm. CLSA warned clients on Tuesday that with fourth-quarter phone sales expectations lower and first-quarter 2018 numbers unlikely to improve, the market may still be too bullish on Apple […]
Small-business hiring shows signs of slowing, even as the economy accelerates
Small business hiring slowed in 2017, even as the rest of the economy accelerated, a report from human resources firm Paychex said Tuesday. The Small Business Jobs Index closed the year at 99.70 after falling 0.16 percent in December and 0.78 percent for the year. Small-business national hourly earnings were […]
Democrats in high-tax states plot to blunt impact of new tax law
Democrats in high-cost, high-tax states are plotting ways to do what their states’ representatives in Congress could not: blunt the impact of the newly passed Republican tax overhaul. Governors and legislative leaders in New York, California and other states are considering legal challenges to elements of the law that they […]
There’s a new star in the digital currency world, and its market cap has already topped ethereum’s
Ripple surged nearly 56 percent Friday to an all-time high, surpassing ethereum as the second-largest cryptocurrency by market capitalization. Officially called XRP, ripple climbed 55.9 percent to a record high of $2.23 Friday afternoon, according to CoinMarketCap. The digital currency had a market cap of $86.3 billion, surpassing ethereum’s $73 […]