Bitcoin’s eight-day-long price consolidation may have weakened the prospects of a drop to December lows near $3,100. The leading cryptocurrency by market value has been restricted to a narrow range of $3,500 to $3,700 since Jan. 11. That range play is somewhat surprising, as BTC had set the stage for a quick slide toward the
John C. Bogle, the father of the retail index fund and an outspoken champion for low-cost investing that won him heroic status among individual investors, died Wednesday. He was 89. Bogle founded the Vanguard Group, the mutual fund behemoth known for inexpensive mutual funds that track a market index rather than trying to beat it.
Andrew Maylor will succeed Thomas Shack III as Massachusetts comptroller effective Feb. 18, Gov. Charlie Baker said Wednesday. The comptroller’s office — a gubernatorial appointment and a more low-key position in Massachusetts than in some other states — is an independent agency that oversees more than $60 billion in state spending and assets. “Andrew’s extensive
The stock market’s positive response to a report that U.S. officials were considering lifting tariffs on China to get a trade deal was telling, but it wasn’t necessarily good, CNBC’s Jim Cramer said Thursday. “Stocks that had been crushed on Chinese worries roared higher like this arrangement was already a done deal” despite the report
Star Xu, the founder of cryptocurrency exchange OKCoin, may be seeking a possible backdoor IPO for his firm by buying a majority stake in a Hong Kong-listed company. On Jan. 10, Xu (under his real name Xu Mingxing) filed with the Hong Kong Stock Exchange (HKEX) for approval to buy a 60 percent stake in a construction
The markets have a new fear: FOMO. In the past few days, as we have reached the heart of earnings season, the markets have again resumed their upward drift. In discussions with traders, there is a new fear on the Street. It is not fear of the government shutdown. It is not fear of a
Check out the companies making headlines on midday Thursday: Signet Jewelers — Shares of Signet Jewelers plummeted more than 20 percent after reporting weaker-than-expected holiday sales. Signet, the parent company of brands like Kay and Zales, also slashed its outlooks for fiscal 2019 and the fourth quarter. Morgan Stanley — The banking giant’s stock fell
New Zealand-based crypto exchange Cryptopia was hacked two days ago. The thief (or thieves) made off with approximately $3.6 million in cryptocurrency. Now, the biggest cryptocurrency exchange, Binance, has frozen tokens sent to its wallet by the alleged hackers. Binance Freezes Tokens According to Binance CEO Changpeng ‘CZ’ Zhao, the exchange reportedly received an unspecified amount of cryptocurrency that
Bess Freedman took the helm of Brown Harris Stevens at the end of 2018.Francis Hills At New York City-based luxury brokerage Brown Harris Stevens, its first-ever CEO is bringing a new energy into 2019. In an effort to connect the company’s satellite markets, Miami, Palm Beach and the Hamptons, to New York, its powers-at-be appointed
The slowdown in home sales and home price gains in most major U.S. markets is causing the opposite effect in the rental market, especially for single-family rental homes. Home prices logged a 5.1 percent annual gain in November, the smallest gain since August 2015. If fewer people are buying homes, especially first-time buyers, then they
Bitcoin price volatility has crashed in the last 12 months as the bear market killed off the speculative frenzy. Daily volatility, as represented by the spread between the price high and price low, stood at $61 yesterday – down a staggering 98 percent from $3,468 seen on Jan. 16, 2018 – according to CoinMarketCap. That is
Mutual-fund shareholders may never again see a folk hero like John C. Bogle, father of the index fund and the founder and former chairman of fund-industry titan Vanguard Group. Bogle was an outspoken, iconoclastic, in-your-face champion for low-cost, buy-and-hold investing — a populist in a business suit who spent six decades criticizing, cajoling and challenging his
The top muni bond counsel firms accounted for $318.67 billion in 8,474 transactions in 2018, down from $407.47 billion in 10,519 deals the year before. Norton Rose Fulbright moves up Norton Rose Fulbright gained a spot from where it finished in 2017, moving up to second from third. The firm was responsible for $18.25 billion
Jack Bogle was sure of his pioneering market invention, but he always had misgivings about what it had become. Bogle, who died Wednesday the age of 89, devised the index fund in 1975 as a way for retail investors to be able to compete with the pros. Rather than bunch a group of stocks into
Binance, the world’s largest cryptocurrency exchange by adjusted trading volume, has launched a new fiat-to-crypto exchange on the island of Jersey, a British self-governing dependency. The firm announced Wednesday that, through the new exchange, users are able to trade in pairs for bitcoin and ethereum against the British pound and the euro in Europe and
The government shutdown is starting to get the IPO markets nervous. There is a robust pipeline for initial public offerings in 2019: Already, 160 companies have filed to go public with the SEC, according to Argus, including big names like the ride-hailing companies Uber and Lyft. There is also a backlog of companies that decided
Check out the companies making headlines before the bell: First Data – The financial technology company will be acquired by Fiserv in an all-stock deal with an equity value of $22 billion, or $22.74 per share. First Data had closed yesterday at $17.54. Bank of America – Bank of America reported quarterly profit of 70
Another crypto hack has plagued the cryptocurrency space. This time, the New Zealand-based Cryptopia found itself at the center of it. The cryptocurrency exchange announced the news via the company’s Twitter this morning, stating it “suffered a security breach which resulted in significant losses.” Cryptopia Crypto Hack pic.twitter.com/0ZwqFfwwHi — Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019 The
Olympian Bode Miller with Bomber skis that pay tribute to his late daughter.Chris Figenshau With a record six Olympic medals and two World Cup wins, Bode Miller is among the best male alpine ski racers of all time. Two seasons into retirement, he still competes like a champion even though he’s done bombing slalom gates.
Student loan debt is putting a dent in young people’s pockets that is contributing to a much lower level of home ownership over the past decade. Federal Reserve economists studied the impact that the $1.5 trillion in educated-related loans is having on those aged 24 to 32. They found that while it is not the
Bitcoin (BTC) has reported losses in January for the last four years, and a fifth now looks on the cards. The leading cryptocurrency by market value fell 32 percent, 14.6 percent, 0.10 percent and 26.64 percent in the first month of 2015, 2016, 2017 and 2018, respectively, according to CoinDesk’s Bitcoin Price Index. Notably, the
As the cloud of an FBI investigation hangs over Scranton, council members in the northeast Pennsylvania city want answers from Mayor Bill Courtright. Bureau personnel conducted raids on Courtright’s office and home on Jan. 9, an FBI press officer confirmed without elaborating. “I would fully encourage the mayor, his cabinet, and any other government officials
Macy’s weaker-than-expected holiday sales results seems to be more of a Macy’s problem than a retail industry problem, CNBC’s Jim Cramer said Tuesday. Shares of the old-line department store operator saw their worst trading day ever after Macy’s reported lower holiday sales for the end of 2018 and slashed its earnings outlook for the year.
The rise of new stablecoins was a defining story in the second half of 2018, but the reality is that exclusive discounts partly fueled their growth. Dollar-backed stablecoins are generally supposed to be worth $1, whether it’s Gemini’s GUSD or Paxos’ PAX. But according to four sources with knowledge of these cryptocurrency exchanges, both stablecoin-issuers privately
Check out the companies making headlines before the bell: JPMorgan Chase – The bank reported quarterly profit of $1.98 per share, below the consensus estimate of $2.20, with revenue essentially in line. Consumer, community, and business banking results beat forecasts, but investment bank and wealth management results did not. UnitedHealth Group – The health insurer
Malaysia regulates cryptocurrencies as of today. The new rules affect both digital coins and ICOs (initial coin offerings). Though welcomed by many, the repercussions for those who don’t comply are deemed particularly harsh. What will this mean for trading? Malaysia Regulates Cryptocurrencies The country’s Minister for Finance, Lim Guan Eng, announced that the order to regulate
Chromotherapy saunas, like the one that will be offered in the new Arbor Eighteen condo in Brooklyn, use multi-colored lights to re-balance the body’s vitamin D level.Jacuzzi Real estate developers are in a never-ending race to offer the most futuristic and luxurious amenities in their residential buildings. State-of-the-art fitness centers and movie theater-style screening rooms
Chinese foreign direct investment into the U.S. plummeted for a second year in a row, according to new data. In 2018, Chinese FDI in the United States fell to just $4.8 billion — a massive decline from $29 billion in 2017 and $46 billion in 2016, according to independent researcher the Rhodium Group. The 2018
According to a Russian economist with ties to the Kremlin, the superpower is preparing a massive $10 billion USD investment in Bitcoin to replace its US dollar reserves. Russia’s Bitcoin investment is a step to minimize US sanctions on the country. Russia’s Bitcoin Investment Vladislav Ginko, an economist at the Russian Presidential Academy of National
That bitcoin (BTC) may be closing on a long-term bottom is generally accepted by now. After all, the leading cryptocurrency by market value has dropped by close to 70 percent over the last 13 months. The challenge now is to pick up early signs of a long-term bearish-to-bullish trend change, which may be possible with