Bloomberg Once the hallmark of this bull run, complacency has made way for angst. From junk bonds to emerging-market stocks, market turnover is through the roof, reaching multi-year highs. Within the S&P 500 Index, investors traded more than $2.9 trillion worth of shares in each of the past two quarters, a feat last achieved in early 2008. Burgeoning uncertainty — …
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Stocks climb as China says ‘won’t use yuan as a weapon’
Bloomberg US stocks rose with European shares on Tuesday after China said it won’t use the yuan as a weapon in any trade dispute. Oil briefly rose above $75 a barrel for the first time since November 2014. All major US benchmarks were higher, paced by strength in energy, on lighter than normal volume heading into the US. Telecom companies …
Read More »Oil surges above $75 as supply outages outpace OPEC
Bloomberg Crude soared above $75 a barrel in New York for the first time since 2014 on signs global supply outages outweigh OPEC’s pledged production rise. Futures in New York jumped as much as 1.7 percent. Even as US President Donald Trump — facing sky-high retail gasoline prices ahead of midterm elections — urges to boost output more than it …
Read More »US stocks pare losses as investors gauge trade risks
Bloomberg US stocks were lower but regained some of their early losses, as investors assessed fears of increasing trade tensions around the world. The dollar climbed, roiling emerging markets, while oil retreated from its highest level since 2014 following President Donald Trump’s call for Saudi Arabia to increase production. The S&P 500 Index was down roughly 0.3 percent after falling …
Read More »Bitcoin rebounds from 2018 low to buoy Ether, Litecoin
Bloomberg Bitcoin jumped on Monday, giving a positive jolt to a digital-coin market that had lost about half of its value since early May. The largest cryptocurrency climbed 7.3 percent to $6,328 from June 28, heading to its biggest one-day increase since April, according to composite prices compiled by Bloomberg in New York. The token’s largest peers — Ripple, Ethereum …
Read More »Bulls count blessings as H1 sees 45-point gain in S&P 500
Bloomberg However paltry the S&P 500’s return in the first half of 2018, at least it rose. Going by history, it’s a signal the rest of the world’s equity markets may be able to take solace in. Books have closed on a tumultuous six months that saw volatility surge amid trade wars and a faster-moving Federal Reserve. But while the …
Read More »Bitcoin jumps back above $6,000 to give respite to investors
Bloomberg The weekend is offering some respite for Bitcoin investors. The bellwether of the cryptocurrency world rose 8 percent to $6,338.22 in New York on June 30, according to Bitstamp prices. The gain, which comes after the digital asset crashed through the $6,000 threshold for the first time since February, means the token has still lost about two-thirds of its …
Read More »Strategists see a blowout H2
Bloomberg A global trade war is looming and emerging markets are plunging. Time to pile into US stocks. That’s the message from Wall Street prognosticators, who have stuck with full-year forecasts during a first half that’s been anything but smooth. After a torrid start to the year, the S&P 500 plunged into its first correction since 2016 and spent the …
Read More »US stocks pare gains amid fresh tough talk on trade
Bloomberg US stocks pared gains amid fresh tough talk on trade by a Trump administration official. Treasuries advanced with the dollar and oil gained. The S&P 500 pared two-thirds of a gain that reached 0.9 percent, while the technology-heavy Nasdaq indexes turned lower after Larry Kudlow said America is not retreating in its approach on trade. Stocks rose at the …
Read More »Crypto exchange Uphold to buy New York broker-dealer
Bloomberg Uphold, an exchange for digital coins and currencies, agreed to acquire New York-based broker-dealer JNK Securities Corp., the latest push by a crypto platform to position itself in more regulated markets. “Many crypto assets (particularly ICO tokens) may be treated as securities in some cases,†Uphold Chief Executive Officer Adrian Steckel said. “Through Uphold’s new securities division, the digital …
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