Bitcoin topped $18,600 on Friday, continuing a vertical climb that accelerated in early October. The largest digital currency by market cap is up 160% in 2020, and up 190% since March 15, following a crash in the second week of March that saw the price drop 25%. Now it’s not far from its all-time-high of […]
Crude oil inventories at the Cushing storage hub in Oklahoma are approaching the high levels seen in April when limited storage capacity amid crashing demand contributed to the plunge in WTI Crude prices into negative territory. Cushing is the designated delivery point for NYMEX crude oil futures contracts, and rapidly dwindling spare capacity there spooked […]
Stock Markets Last week saw the equity markets performing a balancing act between incoming positive vaccine news and ever-growing economic restrictions aimed at curbing the recent spike in virus cases and hospitalizations. The rotation out of the technology sector and into more cyclicals stocks continued, as the vaccine developments improved investor sentiment and confidence about […]
Investors have largely shrugged off their concerns about the COVID-19 pandemic, instead trying to keep their eyes on the long-term prospects for growth across the U.S. and global economy. Moreover, with vaccines apparently on their way, many hope that they’ll be able to wait out the pandemic. Yet California’s decision to impose curfews for a […]
Keeping up with economic news is hard right now. Covid-19 is resurgent in America and has now claimed the lives of over a quarter of a million people and Thanksgiving, which could be the ultimate “super-spreader” event according to public health experts, is still to come. Obviously, that is taking a lot of our attention, […]
There’s a lot of uncertainty in the stock market right now. The COVID-19 pandemic’s latest wave is causing fresh sets of shutdowns around the world. Despite widespread acceptance of the results of the U.S. election, troubling undercurrents reveal a substantial minority that’s thus far refused to acknowledge the normal succession of power. Although some businesses […]
It wasn’t that long ago — last summer, in fact — when analysts were wringing their hands over the narrowness of the stock market’s advance. That was when the so-called FAAMNG stocks — Facebook Apple Amazon Microsoft Netflix and Google holding company Alphabet — were dominating the market and were largely responsible for keeping the […]
Tesla stock reached an all-time high Thursday, briefly trading at $508.61 per share before closing at $499.27. The company’s stock has been on a tear since the S&P Dow Jones Indices announced this week that it will include the carmaker to the benchmark index prior to trading on Monday, Dec. 21. Money managers with funds […]
World stocks edged higher Friday as hopes of economic recovery ahead helped offset the blow dealt by news that the U.S. Treasury was ending emergency loan programmes. But gains were modest as flare-ups in virus cases around the world continued to dampen sentiment. California announced fresh curfews to try to fight surging coronavirus infections, while […]
In recent months, young retail investors have caught a lot of flak from Wall Street professionals and the investment community. Calling into question their stock acumen, money managers have blamed amateurs, who are taking advantage of commission-free trades with the tap of the finger, for driving some U.S. stocks to “nightmare” valuations amid a pandemic […]
While oil demand in Europe and the United States continues to disappoint, refiners in Asia are racing to procure crude from around the world, giving the oil market some hope that at least in one region, demand is strengthening in the fourth quarter. Lower term supplies from major OPEC producers due to the OPEC+ cuts, […]
The ardent believers in Elon Musk’s vision have been rewarded handsomely as Tesla Inc. transformed itself from a money-losing startup into one of the biggest companies in the S&P 500. Now investors are turning their attention toward smaller electric-vehicle companies in the hopes that they too might develop the sort of cult following that helped […]
