Investors trying to get a gauge on the state of U.S.-China trade relations should look at shares of big chipmakers like Qualcomm, Micron Technology and Broadcom, according to Ned Davis Research. The firm points out that Qualcomm had 67% of its 2018 revenue come from China, while Micron saw 57.1% of its sales come from
Thursday, the U.S. Commerce Department said that new home sales fell 6.9% in March, to a seasonally adjusted annualized rate of 673,000 homes, down from the March revised rate of 723,000 units. The drop was slightly weaker than expected; according to consensus forecasts, economists were expecting to sales of around 678,000 units. The report said that
Crypto exchange Coinbase will now let its retail customers buy or trade the DAI stablecoin, so long as they don’t live in New York. The exchange announced Thursday that it was adding DAI on its website, as well as its Android and iOS apps, letting customers buy, sell, convert, trade or store the stablecoin. Customers
Presidents Donald Trump and Xi Jinping. Getty Images As stocks plunged Thursday, Wall Street inboxes were filled to the brim with predictions that the White House would go full throttle and slap tariffs on all Chinese goods, in an escalating and prolonged trade war that could begin to hit consumers and slow global growth. The
General Electric (NYSE:GE) stock, once among the most boring names in the Dow Jones Industrial Average, is now facing constant danger. Source: Shutterstock It met earnings guidance for the first quarter but its asset sale to Danaher (NYSE:DHR) may be in trouble. Fears over its pension liability may be overblown but it has a grim future.
People really do seem to be buying things with cryptocurrency. Announced today, Coinbase Commerce – the exchange unicorn’s app for online retailers – has exceeded $50 million in transactions since launching in February 2018. “Volumes really started picking up in Q2 ,” Justin O’Brien, the product lead for Coinbase Commerce, told CoinDesk in a phone call.
The U.S. Securities and Exchange Commission (SEC) is suing a California resident on charges of selling unregistered securities and conducting a Ponzi scheme disguised as a cryptocurrency. The SEC announced Thursday that it had filed for an injunction against Daniel Pacheco, claiming that he sold unregistered securities through IPro Solutions LLC and IPro Network LLC,
“We need a first step toward more privacy,” Vitalik Buterin, founder of the ethereum blockchain network, said Wendesday. In a new HackMD post, Buterin detailed a design to help obscure ethereum user activity on the blockchain. More specifically, Buterin proposed a “minimal mixer design” aimed at obfuscating user addresses when sending fixed quantities of ether (ETH).
When it comes to tech stocks, most investors think bigger is better. They believe the FANGs or dot-com survivors such as Microsoft (NASDAQ:MSFT) and Cisco (NASDAQ:CSCO) are the way to go in the sector. And there is some truth to that feeling. After all, these giants still produce billions in revenues, cash flows and profits.
Russia’s central bank will consider the use of a gold-backed cryptocurrency to facilitate international settlements, according to a Tass report. Elvira Nabiullina, governor of the Bank of Russia, said Thursday that her institution is to review a proposal for the development of the cryptocurrency. Nabiullina said at the nation’s lower house, or Duma: “As for mutual
My InvestorPlace colleague Luke Lango recently laid out a compelling argument why AT&T (NYSE:T) is too cheap to ignore. Never a fan of AT&T, I’ve given his case the fair consideration it deserves. Lango’s good at what he does and if he thinks AT&T stock is ready to pop, I ought to at least consider
Another salvo from China in the ongoing trade war is sinking U.S. stock futures this morning. This time it was comments from Ministry of Commerce spokesperson Gao Feng calling for the U.S. to “adjust its wrong actions” that sent stocks skidding. Futures on the Dow Jones Industrial Average are down 0.91%, and S&P 500 futures
Japan’s Financial Services Agency (FSA) is said to be scrutinizing cryptocurrency exchanges in the country to ensure anti-money laundering (AML) processes are in place. A report from the Nikkei Asian Review on Wednesday, citing an unnamed FSA official, said that inspections are being carried out ahead of the G20 summit next month. The G20 – the
A blockchain startup is bringing the fight for free speech to the domain level. Unstoppable Domains announced Thursday a $4 million Series A led by venture capital firm Draper Associates. Boost VC, which led the startup’s seed round, was the only other participant in the Series A. “For global free speech to work, you need
CNBC’s Jim Cramer on Wednesday urged investors not to bail on Lowe’s new CEO Marvin Ellison after the home improvement giant reported disappointing earnings that led to a major sell-off in the stock. “People have written off Ellison but he’s been there for five minutes,” Cramer told CNBC’s “Squawk Box. “ Exactly one year ago,
People are seen inside the newly opened Victoria’s Secret shop in Shanghai on February 24, 2017. Johannes Eisele | AFP | Getty Images Check out the companies making headlines after the bell: Shares of L Brands surged nearly 13% in extended trading on Wednesday after the parent company of retailers Victoria’s Secret and Bath &
U.S. equities are on the slide again on Wednesday as the U.S.-China trade standoff continues to devolve into an outright trade war. President Trump is looking at expanding the number of Chinese firms that will lose access to American technology — widening the crackdown on Huawei. China, in response, has begun to call for a
The booster of SpaceX’s Falcon 9 rocket lands on the company’s barge after launching the Spaceflight SSO-A mission. SpaceX Elon Musk’s SpaceX, in a previously secret lawsuit revealed on Wednesday, challenged the Air Force awarding $2.3 billion in rocket development contracts last year to competitors Blue Origin, Northrop Grumman and United Launch Alliance, which is a
As far as newly minted stocks go, China’s electric car maker Nio (NYSE:NIO) is off to a miserable start. Nio stock, currently trading near $4.00, is now down more than 30% from its September IPO price. Perhaps the startup isn’t the next Tesla (NASDAQ:TSLA) after all. Source: Shutterstock Or maybe it is — and investors only
It was another choppy session as many traders may be better off focusing on a new hobby or playing some golf until we get some more encouraging follow-through. This Wednesday would have typically been an exception, given that there was an FOMC statement in the afternoon. Even that couldn’t get the tape to move. Despite
A shopper browses dresses in a Nordstrom store in downtown Vancouver, British Columbia. Ben Nelms | Bloomberg | Getty Images Check out the companies making headlines midday Wednesday: Tesla – Shares of the electric automaker dropped 4.7% in trading as Citigroup joined Morgan Stanley in releasing a “bear case” scenario for Tesla. The firm sees
Tesla (NASDAQ: TSLA) dipped below $200 this week for the first time since 2016. A year ago, it would have seemed inconceivable for bulls that Tesla stock would be battling to hold the $200 level. However, CEO Elon Musk’s empty promises and poor decisions have finally started to sink in to the market. Source: Shutterstock
Telecom heavyweights T-Mobile (NASDAQ:TMUS) and Sprint (NYSE:S) captured headlines and received a big lift in the markets. In a stroke of good fortune, Federal Communications Commission chairman Ajit Pai recommended approving their $26 billion merger. But as great as this news is for TMUS and Sprint speculators, sector giant Verizon (NYSE:VZ) stock also received much
U.S. stock futures are trading lower premarket. But, honestly, what’s new? Down gaps are becoming a daily occurrence, only occasionally interrupted by an up gap. The headline for today is “the summer chop continues.” Against this backdrop, futures on the Dow Jones Industrial Average are down 0.31%, and S&P 500 futures are lower by 0.38%.