Top analyst Mike Mayo believes Wall Street is underestimating financials ahead of earnings season. Mayo, who follows large-cap banks for Wells Fargo Securities, suggests investors haven’t fully acknowledged the benefits associated with the booming stock market — from merger to wealth management fees. “It’s bull market banking,” the firm’s managing director told CNBC’s “Trading Nation” […]
SINGAPORE — Chinese stocks rose on the first day of trade after a week-long holiday, tracking other stock markets across Asia-Pacific as markets on Wall Street rallied. Data on Friday also showed that the services activity in China returned to positive levels. Mainland Chinese stocks pared earlier gains but were still higher by the close. […]
Regulators with the Securities and Exchange Commission have given the green light to the Volt Crypto Industry Revolution and Tech ETF, which will trade under the ticker symbol BTCR. Volt Equity’s exchange-traded fund is the first of its kind, offering investors access to companies with significant exposure to Bitcoin, according to the agency. A representative […]
The Biden administration has drafted an executive order that could create a unified approach to crypto regulation. White House Could Appoint Crypto Czar As first reported by Bloomberg, the order would have federal agencies study various areas of the cryptocurrency industry and create recommendations within those areas. In particular, the order pertains to areas such as […]
U.S. stock index futures were little changed during early trading Friday morning as Wall Street awaits Friday’s key September jobs report. Futures contracts tied to the Dow Jones Industrial Average gained 43 points. S&P 500 futures were up 0.07%, while Nasdaq 100 futures were flat. Stocks advanced during regular trading on Thursday as Washington reached […]
The recent market decline has many people wondering if this is the start of a bigger correction, or just a shakeout before a fourth quarter rally. I’m leaning towards the latter for the following reasons: seasonality, the Fed, technicals, and sentiment. Seasonality is a short-term negative, but a positive into year-end. From approximately mid-September until […]
Soros Fund Management, the asset management company founded by billionaire investor and philanthropist George Soros, has revealed that it owns the cryptocurrency bitcoin. The family office owns “some coins … but not a lot,” Dawn Fitzpatrick, CEO and chief investment officer of Soros Fund Management, said in an interview at a Bloomberg event this week. […]
Senator Cynthia Lummis, R-Wyo., just disclosed a sizable bitcoin purchase as the crypto supporter continued to grow her stake in the volatile asset. The Republican senator scooped up the world’s largest cryptocurrency on Aug. 16 worth between $50,001 to $100,000, according to a filing on Thursday. The purchase was disclosed outside of the 45-day reporting […]
House Democrats recently released details of their eagerly-awaited tax increase proposal and one of the many provisions calls for the application of the wash-sale rule to cryptocurrency. What’s the wash-sale rule and what would this provision mean for buyers and sellers of cryptocurrency if it becomes the law of the land on Jan. 1, 2022? […]
Bitcoin just made a major comeback. The cryptocurrency rallied on Wednesday, topping $55,000 and hitting its highest level since mid-May. Regulatory fears have eased this week after both Treasury Secretary Janet Yellen and SEC chair Gary Gensler said they have no plans to impose restrictions on cryptocurrency trading. Bill Baruch, president of Blue Line Capital, […]
Asian stocks rose Thursday after progress on the debt-ceiling impasse in Washington lifted equities on Wall Street and optimism about renewed dialogue between the U.S. and China. Treasuries dipped as traders await key American jobs data. MSCI Inc.’s index of Asia Pacific stocks was on track for its biggest gain since Aug. 31. Hong Kong […]
Financial advisors have been telling investors for years that if you have a long-term portfolio view of the future, it has to include China. With its stock market down huge this year and its government asserting even more control over its companies, is that still true, or is the time already past to cut and […]
