Bitcoin has again recovered quickly from a sharp drop. The digital currency briefly surged more than 9 percent Wednesday to a high of $7,251.81, according to CoinDesk. That’s within 10 percent of its record high of $7,879.06 hit last Wednesday. Bitcoin had fallen 30 percent below that record over the […]
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A lightning fast rally in oil prices is reversing. Here’s why
A downbeat outlook for oil demand from a top energy watchdog and fears of rising U.S. output sparked a sell-off in crude futures this week, but analysts say the market was already poised for a pullback. International benchmark Brent and U.S. West Texas Intermediate crude have both shed about $3 […]
Wall Street’s new bitcoin play: Square rises after saying it’s testing support of the cryptocurrency
Traders have another potential stock play on bitcoin: Square. Jack Dorsey‘s company is testing support for bitcoin through its Cash payments app. “We’re exploring how Square can make this experience faster and easier, and have rolled out this feature to a small number of Cash app customers,” a Square spokesperson […]
Buffett adds to Apple stake, bails further on IBM
Warren Buffett‘s Berkshire Hathaway bought more Apple shares before their latest jump to all-time highs. Berkshire also cut its stake in IBM by 32 percent, or 17.06 million shares, in the third quarter, according to a required quarterly filing with the U.S. Securities and Exchange Commission released Tuesday. The stock […]
There’s trouble brewing in the charts for one Dow stock: Trader
Goldman Sachs has lagged the broader market this year, and Todd Gordon of TradingAnalysis.com says the charts are giving off warning signs of an even bigger drop ahead. Shares of the big bank have fallen nearly 1 percent in 2017, significantly underperforming the S&P 500, Dow and XLF financial ETF, […]
Millennials lose taste for dining out, get blamed for puzzling restaurant trend
Restaurant sales growth has been slowing at a puzzling pace usually seen in a much weaker or even recessionary economy. Bank of America Merrill Lynch economists say millennials are to blame. Ahead of Wednesday’s government retail sales report, the economists studied restaurant sales, which have seen a steady decline in […]
A bond market crash is a growing worry for investors
One of the top three worries for investors right now is a crash in global bond markets. When asked what poses the biggest “tail risk,” or worry for the financial market, 22 percent of global investors considered the biggest risk to be a sharp drop in bonds, according to Bank […]
GE cut highlights danger of relying on income from dividends
The decision by General Electric to cut its dividend in half as the company restructures should be a warning to investors: Don’t count on income from dividends. GE’s move reduces its quarterly dividend to 12 cents a share from 24 cents and will give its shareholders $4.1 billion less each […]
Roku downgraded by Oppenheimer after parabolic surge makes it the ‘most expensive’ internet stock
Investors should take profits after Roku shares more than doubled in three days, according to one Wall Street firm. Oppenheimer on Tuesday lowered its rating to underperform from perform for Roku shares, citing the company’s excessive valuation. “While Roku has established itself as the leading independent OTT streaming platform [through] […]
Goldman warns on grocers: Customers are becoming ‘comfortable’ with ordering food online
Online e-commerce will exacerbate the already-competitive supermarket backdrop and spells uncertainty for grocers down the road, according to Goldman Sachs. While dollar stores may be more “immune” to the growing challenges, analyst Christopher Prykull assumed cautious coverage on a slew of supermarket names, including a sell rating on Sprouts and […]