After a brief moment of strength after Friday’s ‘close’, cryptocurrencies are tumbling once again… Legging down to 2018 lows in the last few minutes… As Bitcoin tumbles back below $8,000… No clear catalyst is evident for the move.
The bad times just keep rolling for Facebook Inc (Nasdaq: FB). Regulators have officially confirmed that they’re investigating the company’s data practices amid the Cambridge Analytica breach. It seems like the probe is coming just in time, as we are also hearing that Facebook may have been scraping vast amounts of data from Android users….
Wall Street witnessed brutal trading last week, with the major indices suffering the worst weekly fall in more than two years. The Dow Jones Industrial Average and the S&P 500 tumbled 5.7% and 5.9%, respectively, while the Nasdaq Composite Index shed 6.5%. The Facebook (FB – Free Report) -led tech selloff, Fed rates hike, and a trade…
Regular readers know we’re not big fans of gold outside of the hedging benefits it can provide in a portfolio. The fact is, it’s just a piece of metal. It has no intrinsic value and ironically, it will be even more inherently worthless in an armageddon scenario than it is now. As we’re fond of…
The Pound Sterling edged higher versus the US Dollar on a swing in sentiment in favor of a May rate hike from the Bank of England. The Pound already had upward momentum after last week’s upbeat wages data was reported; that resulted in a decidedly hawkish stance from the BoE. Moreover, the British government managed…
Twitter is to ban cryptocurrency advertising, joining Facebook and Google in a clampdown on the industry over the risk of giving publicity to potential fraud or large investor losses. The prohibition will cover advertising of initial coin offerings (ICOs) – crowdfunding used to raise cash by creating new coins – as well as token sales…
If the latest COT report for silver gets any more bullish than the one released on March 23rd, commercial traders will have to go ‘net long!’ As it is, they reduced their ‘net short’ position to the lowest number in many years, down to just 4,000 contracts – barely 2% of the total open interest! This is…
This morning the Dallas Fed released its Texas Manufacturing Outlook Survey (TMOS) for March. The latest general business activity index came in at 21.4, down from 37.2 in February. All figures are seasonally adjusted. Here is an excerpt from the latest report: Texas factory activity continued to expand in March, albeit at a markedly slower pace than last…
Top tickers for midday: T, SQ, MGM, BAC, FB.
Silver is often called the poor cousin to gold. Like gold, silver is found deep inside the earth’s crust and is often mined by large mining companies. The difference between the two is its usage. While gold is usually bought as an investment, silver is bought for its industrial uses. Companies buy silver to produce…
