An economist has claimed the US stock market has already hit its lowest point for 2022 after Russia invaded Ukraine – although that war and soaring inflation could prove him badly wrong. Tom Lee, managing partner at Fundstrat, said that as long as there’s no recession due to a continuation of the war or the […]
Bitcoin (BTC) price swings might be impossible to predict, but there is a strategy frequently used by pro traders that yields high returns with minimal cost. Typically, retail traders rely on leveraged futures positions which are highly susceptible to forced liquidations. However, trading Bitcoin options provide excellent opportunities for investors aiming to maximize gains while […]
Like any documented income, the gains obtained through cryptocurrencies are taxed, these are calculated according to the date on which the taxpayer receives them. Tax liability Receiving cryptocurrencies as payment for the provision of a service, mining them, betting with them, obtaining rewards and even making loans from which interest is generated and then reflected in […]
Iraq’s oil ministry says it exported $11.07bn of oil in March, the highest level in 50 years, as crude oil prices soared in the wake of Russia’s invasion of Ukraine. The record oil export, which accounts for more than 90 percent of Iraq’s income, is a big boost to the state coffers. The second-largest producer […]
The sell-off has led to a slew of buying opportunities in top growth stocks. The stock market has staged an epic rally in the last week or so. After briefly being down over 20% year to date (YTD), the Nasdaq Composite is now down less than 10% YTD. Similarly, the S&P 500 and the Dow […]
Russia’s biggest bank got permission to issue a digital currency just weeks after the invasion of Ukraine. Sberbank launched sbercoin as Western sanctions hampered Russia’s access to the global financial system. The US and its allies are concerned about Russian use of crypto to circumvent sanctions. Since Russia began its war on Ukraine, a host […]
The “No. 1” risk for the markets is “higher oil prices,” says a top UBS strategist. Equities ended the session lower on Thursday and S&P (^GSPC) had its first losing quarter since 2020. Despite a volatile month, the markets rallied during the last two weeks of March. “The price of oil is a pretty good […]
Weekly U.S. oil demand data by the Energy Information Administration (EIA) has been significantly overestimated compared to the final monthly oil demand, oil data analytics firm OilX said on Friday. “US weekly data significantly overestimated total monthly oil demand, not just in other oils, but also for road fuels,” OilX said in a post on […]
The wealth of America’s wealthiest people, such as Warren Buffett and Jeff Bezos, increased by a total of $6.5 trillion last year, mainly driven by soaring stock prices and financial markets, according to the Federal Reserve. The total wealth of the 1% reached a record $45.9 trillion at the end of the fourth quarter of […]
The 19 millionth bitcoin has just been mined, data from Bitbo shows, leaving less than two million BTC remaining for miners to put in circulation as the Bitcoin network tick-tocks its way through a fixed issuance schedule until it reaches the 21 million supply limit and doesn’t create any new bitcoin ever again. The milestone […]
Ethereum mastermind and co-founder Vitalik Buterin published a blog post Friday that, with compelling logic and detail, defended “Bitcoin maximalism.” The post seems largely serious, though its publication on April Fools’ Day introduces all sorts of questions about his real intentions. The maximalist ethos broadly resists change to Bitcoin itself, while also arguing that more […]
Stock Markets The major stock indexes closed mixed for the week. Despite the S&P 500 Index ending its best month since December, it has nevertheless closed its worst quarter since 2020 at a loss of 5%. It is optimistic, however, that the U.S. markets have recovered by 10% off their lows, despite numerous unresolved problems […]
