Tag: Gold (NYMEX:GC.G18.E)

Stocks Rise On Strong Earnings

Posted on by The INO.com Team

Hello traders everywhere. Both the DOW and the S&P 500 have hit new intra-day highs and are looking to close out the week at record highs. This latest move higher has been driven by a weaker U.S. Dollar and a strong earnings season so far.

This week has seen some overall market volatility, but a strong finish today will put the three main indexes on track for their best four-week rally since 2016.

Stocks Rise Strong Earnings

The latest saga in the Bitcoin/cryptocurrency space continues to be a lack of regulation. One of Japan's largest cryptocurrency exchanges, Coincheck, said that about $400 million in NEM tokens were lost after the coins were sent "illicitly" outside the venue, spooking investors in a country that's still wary of digital-token exchanges four years after the collapse of Mt. Gox.

Cryptocurrency exchanges, many of which operate with little to no regulation, have suffered a series of outages and hacks amid the trading boom that propelled Bitcoin and its peers to record highs last year. What lasting effect will these continued hacks and outages have on the cryptocurrency space moving forward?

Key levels to watch next week: Continue reading "Stocks Rise On Strong Earnings" →

U.S. Dollar Hits New Lows

Posted on by The INO.com Team

Hello traders everywhere. The U.S. dollar hit new lows on Wednesday after U.S. Treasury Secretary Steven Mnuchin made comments at the Global Economic Forum in Davos, Switzerland, saying that he welcomed its weakness.

MarketClub's Mid-day Market Report

Fear of protectionism from the U.S. economy had already pushed the dollar to a three-year low, but Mnuchin's comments added to the pressure that's been pushing it down for the year, with the effects rippling across markets as growth in European and emerging-nation economies continues to accelerate past America.

President Donald Trump is scheduled to arrive and speak at the conference Thursday, and many investors fear that he and his team will continue to talk about a trade war and signal a more protectionist policy stance.

Key levels to watch this week: Continue reading "U.S. Dollar Hits New Lows" →

Stocks Erase Early Losses After Senate Vote

Posted on by The INO.com Team

Hello traders everywhere. Stocks are trading higher after erasing slight losses from earlier in the session, as the Senate reached a deal that would resume full government operations.

The S&P 500 is hitting record highs, rising 0.5%, with energy and telecommunications as the best-performing sectors.

The NASDAQ is also hitting all-time highs, advancing 0.7%, with shares of Netflix Inc. (NASDAQ:NFLX) hitting a record ahead of their earnings today.

The Dow has gained over 70 points to establish a new intra-day record, with The Boeing Company (NYSE:BA) leading the way.

MarketClub's Mid-day Market Report

Members of the Senate are expected to advance a stopgap bill to keep the government open through Feb. 8. Democratic Sen. Mark Warner said the party has the assurance it needs on the budget and immigration issues.

On Saturday, the U.S. government shut down after a bill that would have kept the government funded through mid-February was voted against in the Senate. The shutdown continued for a third day on Monday after the Senate on Sunday failed to reach an agreement to break an impasse before the work week began in Washington.

Key levels to watch this week: Continue reading "Stocks Erase Early Losses After Senate Vote" →

Wall Streets Wild Week

Posted on by The INO.com Team

Hello traders everywhere. The stock market is finishing up the week mixed, much like the entirety of the week was. We saw wild swings in both the stock market and Bitcoin. And it might not be over yet with a couple of things looming.

There's potential for a government shutdown. On Thursday, the House passed a bill to avoid a government shutdown, but the bill is now in the Senate's hands, where 60 votes are needed to send it to President Donald Trump's desk. Most experts believe that there is a 50/50 percent chance that we will see a shutdown. Historically, a government shutdown has led to a short-term pullback in the stock market.

MarketClub's Mid-day Market Report

Consumer sentiment unexpectedly declined in January to a six-month low as American households viewed the economy less favorably, as reported by the University of Michigan report that was released Friday.

The decline in sentiment included a decrease in a measure of buying conditions for big-ticket goods, indicating consumer spending may slow early this year after a solid holiday shopping season.

The setback in purchasing conditions was mainly due to less attractive pricing, according to the University of Michigan. That was reflected in a pickup in increases in expected inflation rates over the coming year and longer term.

At the same time, the expectations index remained stable, with 70% of respondents saying they thought the impact of the tax reform act would be positive. What's more, the survey showed lingering strength in personal finances. Improved finances were reported by half of all respondents, matching the 2017 average which was the best in 17 years.

Key levels to watch next week: Continue reading "Wall Streets Wild Week" →

Bitcoin Falls On Global Regulatory Concerns

Posted on by The INO.com Team

Hello traders everywhere. The January Bitcoin (CME:BRTI) selloff gained momentum on Tuesday when the cryptocurrency dropped as much as 13% in early trading as the prospect of global regulatory crackdowns appeared to spread.

A South Korean news website Yonhap reported that Finance Minister Kim Dong-yeon had told a local radio station that the government would be coming up with a set of measures to clamp down on the "irrational" cryptocurrency investment craze.

South Korea said on Monday that its plans to ban virtual coin exchanges had not yet been finalized, as government agencies were still in talks to decide how to regulate the market.

MarketClub's Mid-day Market Report

That news broke just as a report surfaced that a senior Chinese central banker had said authorities should ban centralized trading of virtual currencies and prohibit individuals and businesses from providing related services.

China shut down exchanges operating on the mainland last year - a move that also sparked a selloff.

The January selloff has seen Bitcoin (CME:BRTI) fall 42% from it's December 2017 high of 19,528.87.

Key levels to watch next week: Continue reading "Bitcoin Falls On Global Regulatory Concerns" →