The new Federal Reserve boss will be the same as the old boss when it comes to monetary policy and President Donald Trump‘s tax cuts will pass and add half a point to growth. Those are among the findings of this month’s CNBC Fed Survey, coming at a time of […]
CNBC
Shares of retailer-turned-bitcoin-play Overstock.com rocket higher after Morgan Stanley reveals stake
Shares of Overstock.com briefly surged more than 23 percent Monday after Morgan Stanley Investment Management disclosed an 11.4 percent stake in the company. The investment management division has $447 billion in assets under management and its products include mutual funds and hedge funds. The department said in a 13G filing […]
Brent crude oil hits 2½-year high on major pipeline outage
Brent crude oil prices spiked to the highest level in 2½ years on Monday on news that a major pipeline in the U.K.’s North Sea will shut down for repairs. The Forties pipeline system will close for several weeks while its operator, INEOS, repairs a crack in a pipe discovered […]
The charts are pointing to a Santa Claus rally for small caps
Small caps are lagging the broader market, but one technician says the charts are pointing to a potential Santa Claus rally for the group. As the Dow and S&P 500 just hit record closing highs, the Russell 2000 continues to underperform this year. While the Dow and S&P 500 have […]
Cramer: Bitcoin’s futures launch is a ‘very big victory’ for the digital currency
The launch of bitcoin futures on the Cboe Futures Exchange over the weekend was a “very big victory” for the digital currency, CNBC’s Jim Cramer said Monday. Bitcoin futures, trading under the ticker symbol XBT, debuted Sunday night on the Cboe. The futures price climbed 10 percent in the first […]
UBS: Cryptocurrencies like bitcoin are ‘the bubble to end all bubbles’
UBS Wealth Management is not a believer in bitcoin becoming a legitimate currency even as the launch of futures lead some investors to believe the cryptocurrency will become a more stable market. “The bubble to end all bubbles continues. Cryptocurrencies only have value if accepted as currencies. However, they cannot […]
Bitcoin futures launch could be bad for bitcoin’s price, tech analyst Gene Munster says
The launch of bitcoin futures could “have a material negative impact on the price of bitcoin,” a well-respected technology analyst said Monday. With the futures, “investors will have an easier time betting against bitcoin,” and “investors could move towards trading futures contracts and out of bitcoin itself,” Gene Munster, co-founder […]
Investors ‘haven’t missed the train’ on bitcoin yet, but it could be a wild ride, analyst says
It isn’t too late for investors to hop into cryptocurrencies after the bitcoin futures launch on the Cboe, an analyst told CNBC on Monday. “Relative to assets, you’re talking $100 trillion in investable assets,” said Brian Kelly, founder of BK Capital Management. “All you would need is 1 percent of […]
S&P 500 futures erase gains, Treasurys rise after reports of explosion at New York’s Port Authority terminal
U.S. stock futures gave back some of their initial gains on Monday following reports of an explosion at a terminal at New York City’s Port Authority. Dow Jones industrial average futures traded 25 points higher, while Nasdaq 100 futures were up 4.75 points. S&P 500 futures turned slightly negative, trading […]
Bitcoin jumps higher as futures trading begins on Cboe
Bitcoin prices jumped on Sunday evening New York time as the Cboe Futures Exchange began trading futures on the cryptocurrency. The new futures were up 9.1 percent to $16,870 on the Cboe in early trading. They has previously turned negative for a brief moment at about 6:55 p.m. New York […]