Die-hard Tesla Inc. investors might be forgiven for wondering why the thrill of owning the iconic carmaker’s stock has seemingly disappeared. After all, since catapulting over 700% last year, the shares have barely eked out a 3.4% advance in 2021. Meme stocks like GameStop have pushed Tesla out of the limelight, while Bitcoin has attracted […]
What a difference a year makes! Roughly 13 months ago, on March 23, 2020, the stock market was in an all-out nosedive as fear and uncertainty peaked surrounding the pandemic. It took just 33 calendar days for the benchmark S&P 500 (SNPINDEX:^GSPC) to shed 34% of its value. But in those subsequent 13 months, investors […]
President Joe Biden’s reported plan to hike capital gains taxes on millionaires may have spooked Wall Street, but Thursday’s sudden stock slide didn’t seem to shake the White House. Press secretary Jen Psaki on Friday brushed aside a question about whether the Biden administration was concerned by investors’ apparent lack of support for the proposal […]
According to the Bloomberg Dollar Index, the US Dollar is hovering at its highest level in 3 months against its major peers at the time of writing, supported by better-than-expected February NFP figures and improving growth outlook. The US job report showed that 379,000 jobs were created in February, which is more than the 182,000 […]
Stock Markets Overall, during the week, stocks changed little on very light trading volume, the lightest daily volumes so far for 2021. The small caps slightly outperformed the large caps while the Nasdaq Composite Index marginally trailed the broad market. Expanding our perspective. on April 16, the U.S. stock market was poised at a record […]
U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax. The Dow Jones Industrial Average gained 227.59 points, or 0.7%, to 34,043.49 amid a jump in Goldman Sachs and JPMorgan shares. The S&P 500 rose 1.1% to 4,180.17 led […]
The stock market rebounded strongly on Friday morning, bouncing back from a late-day hit on Thursday. Investors remain somewhat concerned about the prospect of higher income taxes for high-income taxpayers, but they appeared to discount the immediate impact on the economic recovery. As of noon EDT, the Dow Jones Industrial Average (DJINDICES:^DJI) was up 176 points to 33,991. […]
Bitcoin slipped on Friday as reports of U.S. President Joe Biden mulling a tax hike on wealthy Americans drew stronger selling pressure in the spot market. The biggest cryptocurrency traded well below the 100-day simple moving average support of $49,470 during the European hours, marking the first breakdown of the widely tracked technical line in […]
LONDON/GUANGZHOU, China — Bitcoin and other digital currencies plunged on Friday as a proposed capital gains tax hike from U.S. President Joe Biden led to a wave of selling. At as midday EST, bitcoin was down 7.3% at $49,730, according to Coin Metrics data. It’s the first time bitcoin has traded below $50,000 since early […]
U.S. equity markets turned sharply lower Thursday afternoon following a report that the Biden administration is mulling increasing the capital gains tax. The Dow Jones Industrial Average fell over 321 points, or 0.94%, while the Nasdaq Composite and S&P 500 declined 0.92% and 0.94%, respectively. Biden, according to Bloomberg, is exploring raising the top capital […]
Global jet fuel demand is slowly recovering from last year’s collapse. The number of commercial flights has more than doubled since April 2020 and even tripled on some days in major domestic markets such as the United States. Yet, the recovery of aviation fuel demand is expected to be the slowest among all fuels, and […]
Bitcoin has fallen beneath the $50,000 psychological support line hitting its lowest point in 48 days. At around 17:00 UTC on Thursday, bitcoin (BTC, -10.05%)‘s price fell from around $54,900 to $51,500 before the markets inflicted another sell-off to $48,300, according to Bitstamp exchange data. Prices are currently hovering around $49,200 representing an 8% drop […]
