Weekly Market Review – July 31, 2021

Stock Markets The past trading week saw indexes mixed with a high level of volatility. The large-cap benchmark indexes as well as the technology-heavy Nasdaq Composite index saw record highs midweek before the slump towards Friday’s close where they settled with moderate losses. Appearing to buck this trend are the S&P 400 Index for MidCap […]

Cryptocurrency industry fears big tax hit in infrastructure bill

Buried in the still-unreleased bipartisan infrastructure package is a sweeping crackdown on cryptocurrency transactions that could generate significant tax revenue for the government and major anxiety in a financial technology industry that thrived during the coronavirus pandemic. Lawmakers want people facilitating trades in Bitcoin and other digital assets to be subject to reporting rules similar […]

European markets close higher as investors digest earnings, dovish Fed comments

LONDON — European stocks closed higher on Thursday as investors digested a fresh round of major corporate earnings and the U.S. Federal Reserve’s reiteration of its dovish policy stance. The pan-European Stoxx 600 provisionally closed up about 0.5%, with basic resources and autos shares leading the gains, climbing 2.4% and 2% respectively. Shares in Asia-Pacific […]

Bitcoin price hovers around $40,000

Bitcoin is slightly higher Thursday morning, trading just below the $40,000 level. The price was around $39,800 per coin, while rivals Ethereum and Dogecoin were trading around $2,290 and 20 cents per coin, respectively, according to Coindesk. The infrastructure deal agreed upon by lawmakers and President Biden on Wednesday includes a crackdown on cryptocurrencies as […]

Why Ripple’s XRP Cryptocurrency Jumped 10% Today

What happened Wednesday is turning out to be a pretty great day for cryptocurrencies in general, but few were doing quite as well as Ripple (CRYPTO:XRP), which was up an impressive 10.7% approaching noon today. Ripple’s XRP cryptocurrency was moving higher after the cryptocurrency’s developer announced at 2 a.m. EDT today it has just launched a live On-Demand Liquidity (ODL) service to […]