Bitcoin climbed above $ 17,000 early Tuesday for the first time since January 2018, pushing this year’s spike to 137% in a year – basis so far. That’s 10 times more than the standard & Poor 500 Big U’s. s. Stores.
« The Bears Are In Disbelief, » a digital asset market analysis firm Arcane Research wrote early Tuesday, indicating that the cryptocurrency is on track for its sixth consecutive weekly gain.. “Nothing appears to be stopping Bitcoin at the moment.
In the traditional markets, European stocks have fallen and share prices have fallen. s. Stock futures indicated a lower open as investors feared the potential economic scars of a resurgence of the coronavirus. Double gold 0. 1% to $ 1,888 an ounce.
Look no further than this year’s rapid growth in the arena of decentralized finance, or DeFi, and it’s clear why the Ethereum blockchain is dominating so many conversations right now in the digital asset industry..
The second largest native cryptocurrency on the blockchain, Ether (ETH), is up 266% this year – twice as much as Bitcoin (BTC). .
But many savvy digital asset investors are hedging their bets, buying tokens associated with emerging blockchain networks that could capture market share from Ethereum, often referred to as the « global computer » due to its versatility and programmability..
One such token is dot (DOT), from the Polkadot blockchain, whose co-founder Gavin Wood was one of the founders of Ethereum. Wood wrote the original project white paper for Polkadot in 2016, just one year after the Ethereum network launched.
Since going live in mid-August on exchanges after the Polkadot network performed a 100: 1 split, the pip symbol has increased 44%. During the same period, Ethereum is up by just over 8%..
“The market and investor appetite has been really strong for the Polkadot point symbol,” said Kild Van Schiffen, managing director of investment company KR1, which includes Polkadot in its portfolio.. He said the initial valuation of the fund-raising process before the network launched was around $ 3. “So consistently trading above $ 4 since then has been really encouraging.
Bitcoin’s strong rally continues as demand increases for supply amid mounting expectations for a rapid global economic recovery regarding potential coronavirus vaccines.
The highest-market cryptocurrency rose to a 33-month high above $ 17,000 during the early U. s. Trading hours. Prices are up 20% this month alone.
Some investors have described Bitcoin as « digital gold » due to the belief that the cryptocurrency could act as an effective hedge against inflation.. But in recent weeks, bitcoin prices have risen as gold is struggling, after news that two drug companies, Pfizer and Moderna, announced promising results in developing vaccines against the Corona virus.. .
The prospect of a vaccine arriving early next year, helping the global economy return to pre-pandemic production levels sooner than expected, has resulted in funds rotating from defense assets to risky assets, according to Ole Hansen, head of commodity strategy at Saxo Bank..
Nevertheless, Bitcoin remained in an effort to hold strong sentiment and supply shortages. « Since bitcoin was at $ 11,400 a month ago, miners were selling an average of 11 bitcoins per hour on exchanges.. In comparison, 214 coins per hour were withdrawn from exchanges, » Willie Wu, an analyst on the chain and author of the Bitcoin newsletter, tweeted early Tuesday..
With the global stockpile of negative yielding bonds rising to record levels, and the price of US bonds reaching record levels. s. The dollar is expected to decline due to optimism about the Coronavirus vaccine and the continued printing of money by the Federal Reserve, the odds appear to be stacked in favor of a record high above 20. 000 dollars.
USD of Origin (OUSD): The Stablecoin project suffered a « re-entry attack » early Tuesday, resulting in a loss of $ 7 million, including $ 1 million deposited by the company, founders, and employees.
Crypto miners in China struggle to pay energy bills as regulators clamp down on OTC (CoinDesk) offices
Anchorage applies to U. s. OCC regulator for the conversion to a National Bank Charter from a South Dakota-based trust firm (CoinDesk)
Decentralized exchange Uniswap and stablecoin tether (USDT) dominate the Ethereum network, accounting for more than 35% of transactions (CoinDesk):
About 13 million yu. s. Workers enrolled in emergency benefit programs that expire in January. 1; Deutsche Bank estimates that income could drop by $ 150 billion in the first quarter, causing weak consumer spending that would reduce 1 percentage point of economic output (WSJ)
Too low U. s. Mortgage rates, thanks to the Federal Reserve’s easy monetary policy, allowed homeowners to refinance, reduce monthly payments and free up cash (Bloomberg)
Austerity is not being seen anywhere as the chief economist at the European Bank for Reconstruction and Development expects a half-century Coronavirus debt repayment schedule (WSJ)
Japan now offers 0. 1 percentage point of localities for interest rates to stimulate the merger in the hardly profitable banking sector
Yo. s. Consumers flock to cash after debt is paid, partly aided by government stimulus (Bloomberg)
(Bloomberg opinion) – in an anecdote often attributed to President John F.. Kennedy’s father, the moment he learned to emerge from the stock market boom of the 1920s was when he began receiving stock advice from his shoe-shine boy.. You can make a similar argument about the moment when the leading stock indices finally give their blessing to an upcoming stock. The newest and most dramatic example of that will happen next month, when S&P 500 recognizes Tesla Inc.. Through the club doors for the first time. Take Yahoo Inc. Typical dotcom business found its way into the US major stock index in December 1999, just four months before the crash in internet stocks that took hold of. s. More than a decade to recover from it. New admissions in the mid-2000s were rich in real estate plays such as CBRE Group Inc. , Boston Real Estate Corporation. And Kimco Realty Corp. Then these companies were hit hard by the mortgage and financial crisis of 2008. Will this time really be different? Certainly, Tesla appears on a more solid footing than it was two years ago, when regulators were leveling fraud charges against Elon Musk and the company was, in his words, « from number one weeks » away from bankruptcy.. Predicted to rise to S&P 500 since its second-quarter results posted profits for a fourth consecutive period, and passed one critical benchmark that keeps a lot of startups out of the index. If we look at it from a more nuanced perspective of operating criticism, it works better. $ 2. The inflow of 4 billion in the third quarter alone was more than the total operating cash in the contract through September 2019. The auto industry as a whole appears to be performing remarkably well in the Covid-19 grip, as the S&P Automotive and Parts Sub-Index on Monday reached its highest level in more than two years.. Tesla is already the eleventh company by market cap on U. s. Exchanges, worth about the world’s three largest carmakers, Toyota Motor Corp.. , Volkswagen AG and General Motors. Put together. Ordinary investors are more likely to see their index tracking funds converting them to indirect Tesla shareholders whether they like it or not.. So what don’t you like? The long-awaited question is about evaluation. Tesla has passed the point at which it is in imminent danger of disappearing, but it is still very difficult to justify the price put on the stock. Returns on equity are increasing even with the broader auto sub-index. Even analysts estimate that they will rise by 20% over the coming years will only bring them in line with levels that were, until recently, considered normal levels for an industry that has not been favored by investors for years.. This kind of pedestrian financial performance is difficult to reconcile with expensive Tesla stocks. The average price of S&P 500 components is 20. Mixed 89 times 12-month futures earnings. Tesla’s price-earnings ratio is 113, which would be enough to give it the richest rating in the index after Under Armor Inc.. , The Boeing Company. And SBA Communications Corp. Comparing Ebitda to Enterprise Value, only six companies have ratings higher than Tesla’s 49. 51 multiple times. It’s very hard to see how Tesla will be able to justify these ratings in the long run. This is the case even if you agree with the most optimistic analysts and assume that the company will generate about $ 10 billion per year in net income by 2022 or 2023, compared to $ 556 million over the past 12 months.. Based on these numbers, a price-earnings multiplier of 20 times would produce a business whose value is not much more than half of Tesla’s current market value of $ 387 billion.. . This is the real lesson for newcomers to the big indicators. Per Yahoo or AOL Inc. Which turns into an example of market surplus, there is Kimco or CBRE who survived but not regaining the magic that drove him into the spotlight.. The 1999 Yahoo hype eventually fell victim to a better search technology developed by a little-known startup called Google.. The race to dominate electric cars over the next decade is scarcely less competitive. This column does not necessarily reflect the opinion of the editorial staff or Bloomberg LP and their owners. David Fickling is a columnist for Bloomberg Opinion covering commodities, as well as industrial and consumer companies. He has worked as a reporter for Bloomberg News, Dow Jones The Wall Street Journal, the Financial Times, and The Guardian. For more articles like these, please visit us at Bloomberg. Com / opinion Subscribe now to stay on top with the most trusted business news source. © 2020 Bloomberg LLC. s.
in an organizational file detailing U. s. Holdings of listed shares as of September. 30, Berkshire revealed $ 5. 7 billion new healthcare rations, including more than $ 1. $ 8 billion each in Abbvie Inc, Bristol-Myers Squibb Co, and Merck & Co, and $ 136 million each in Pfizer Inc.. Buffett typically makes large investments for $ 245 to Berkshire. 3 billion stock portfolio itself. « COVID-19 has made us think differently about healthcare, » said James Armstrong, president of Henry H.. Armstrong & Associates of Pittsburgh, which owns Berkshire shares.
The NIO startup index for Chinese electric vehicles rose about 2% ahead of expected third-quarter earnings after the close on Tuesday.
As the 116th convention approaches, Capitol Hill has become a dead end on nearly every issue, but there is hope for a bipartisan compromise on the issue of retirement.
If you’ve ever wondered how your colleagues’ retirement savings accumulate, you’re in good company.. The desire to know where you land in a sea of savers for retirement is normal, and it can either help initiate further progress or give you a feeling of satisfaction.. What is the average retirement savings?
Thomas H.. K Junior. , President and CEO of Stock Traders Daily and Portfolio Manager at Equity Logic, returns to Need to Know for a new market call. He says investors will wake up to a difficult reality in 2021.
Loop Capital Markets analyst Daniel Adam begins covering the online bookmaker with a buy rating and a $ 100 target share price..
With the Federal Aviation Administration (FAA) planning to re-certify the (BA) 737 MAX for commercial flight – on Wednesday, according to news reports – investors have to ask themselves what the MAX is worth to stocks in the post-pandemic world. Looking at the numbers, the recertification is perhaps a minor stock event. Boeing and its airline customers on the Max were not immediately available for comment.
Form 94. The 5% efficacy in the first tentative glimpse of the trial also showed Wall Street a combination of targeted price increases and rating downgrades. Moderna results appeared to be better than the « more than 90% » efficacy reported a week before the vaccine for PFE and BNTX (BNTX).. The average Wall Street target price for Moderna stocks is now $ 107, according to FactSet, compared to $ 92 a month ago..
(Bloomberg) – Palantir Technologies Inc. Raised to a new high after Steve Cohen and others’ hedge fund revealed they were buying shares in a data miner.. Point72 Asset Management LP 29 has been purchased. 9 million shares in Blantyre in the third quarter, according to a 13F filing released Monday. Anchorage Capital Group also acquired 2. 95 million shares. This comes on the heels of the purchases made by other hedge funds including Soros Fund Management, which bought 18 companies. 5 million shares. Shares of Blantyre rose by as much as 18 percent on Tuesday. The stock has gained more than 155% since it went public in September. Since its establishment in 2003, Co-founder and Chairman Peter Thiel has helped fund the business throughout its long tenure as a private company.. The Denver-based company, which sells data analysis tools to governments and companies, has risen nearly 77% since the founding of the United States.. s. Elections as investors were optimistic about Palantir’s prospects after Joe Biden was elected president. For more articles like these, please visit us at Bloomberg. comSubscribe now to keep up with your most trusted business news source. © 2020 Bloomberg LLC. s.
Nio prepares to announce third-quarter results Tuesday, after emerging Chinese opponent Tesla becomes a target of the short seller.
« When viable and widely distributed vaccines reach the market, we believe this will spur the next step down in the structural downtrend of the US dollar that we anticipate, ». s. The bank said in a research note. Moderna said on Monday that its experimental vaccine was 94. 5% effective in preventing COVID-19 based on provisional data from a clinical trial at a late stage, becoming the second. s. The company within a week to report results far exceeding expectations.
Fintech firm SmartAsset looked at average household expenses and found that nationwide, a $ 1 million nest egg should last 23 years. 46 years old. The results showed that retirees in New York City would exhaust a million dollars in every ten. 21 years, while the money will last 32 years. 26 years old in McAllen, Texas. SmartAsset spokesperson Mark Locastro says McAllen’s number is impressive, but people shouldn’t assume the averages will be correct for them.
(Bloomberg) – They were once giants of corporate America. Names of beloved families. Case studies success. But now they increasingly look like something else – zombies. And their numbers swell. From The Boeing Company. , Carnival Corp.. And Delta Airlines. For Exxon Mobil Corporation. And Macy’s Inc. , Many of the country’s best-known companies are not earning enough to cover the interest expense (a key criterion, as most market experts define it, for the zombie case). Nearly 200 companies have joined the ranks of so-called zombie companies since the start of the pandemic, according to Bloomberg’s analysis of financial data from 3,000 of the largest publicly traded companies in the country.. In fact, zombies now account for roughly 20% of those companies. Most obviously, they added nearly $ 1 trillion in debt to their balance sheets in this period, bringing total liabilities to $ 1.. 36 trillion. That’s more than double the nearly $ 500 billion zombie businesses owed at the height of the financial crisis. The consequences for the US economic recovery are profound. The Federal Reserve’s effort to stave off a series of bankruptcies by buying corporate bonds could very well have prevented another depression.. But in helping hundreds of distressed firms gain unhindered access to credit markets, policymakers may unintentionally direct the flow of capital to unproductive firms, driving down jobs and growth for years to come, according to economists.. « We have come to the point that we have to ask, ‘What are the unintended consequences? » Said Torsten Sloc, chief economist at Apollo Global Management Inc. « . The Fed decided, for reasons of stability, to intervene. They knew they were going to create zombies. The question now becomes, « What about surviving companies that would otherwise go out of business? » While zombie companies are more commonly associated with Japan in the 1990s, post-crisis Europe, or even China in recent years, in Yu. s. It has been growing for more than a decade, driven in part by years of extremely loose monetary policy. Zombie companies get their nickname because of their tendency to falter, unable to earn enough to get off their liabilities, but still have enough access to credit to roll over their debts.. They are a burden to the economy because they keep assets tied to companies that cannot invest and build their businesses. Of course, not every company that turns into a zombie is destined to last forever. There are a lot of stories back from Boston Scientific Corp.. Of Sprint Corp. Many companies that have seen profits wiped out due to the outbreak of the Coronavirus will likely recover once the vaccine allows the global economy to return to a more normal level, and you may not ultimately need all of the debt they have raised.. However, the sheer amount of borrowing that troubled companies have made in recent months will almost certainly limit the ability of some to realize capital expenditures and adapt to changing consumer habits as Covid-19 changes how Americans spend their money.. A Bloomberg analysis looked at companies’ 12-month delayed operating income of the Russell 3000 index relative to their interest expenditures over the same period. The results paint a bleak picture. More than a sixth of the index, or 527 companies, did not earn enough to meet the interest payments. This compares with 335 companies at the end of last year. $ 1. 36 trillion owes together now dwarves the $ 378 billion in zombie corporate debt that was reported prior to the pandemic that squandered balance sheets.. Boeing has seen total liabilities balloon by more than $ 32 billion this year, while Carnival’s debt burden has increased by $ 14.. 8 billion, Delta added $ 24. $ 2 billion, Exxon $ 16. Two billion dollars and Messi one dollar. 2 billion, according to data compiled by Bloomberg. What Bloomberg Intelligence says: “Zombie companies have been building because of the lax markets that have provided survival power for seemingly insolvent companies. The pandemic has exacerbated this longstanding issue. From an economic theory standpoint, zombies diminish growth in the long run because you have a wrong allocation of capital and companies that control market share but without the ability to invest in growth. In the near term, as the value of the zombie business has been depleted, the credit recovery assumptions, which arguably will send higher spreads to compensate. – Noel Hebert, Director of Credit Research, Boeing spokesperson directed Bloomberg to the company’s third-quarter earnings call, with CFO Greg Smith saying that managing liquidity and budgeting leverage is a top priority, and that debt reduction will be the main focus once cash generation returns to levels. More natural. Representatives from Carnival and Delta declined to comment.Exxon referred Bloomberg to comments last month from Senior Vice President Andy Swiger during the company’s earnings call highlighting efforts by oil producers to reduce operating expenses and increase divestments while keeping overall debt levels stable.. . Macy’s spokesperson said the company is confident of its financial position and expects to have sufficient liquidity to fund operations and maturities of maturing debts in the coming years.. . Among the new arrivals, U. s. Airlines, which have a total debt of $ 128 billion, have become zombies in 2020. Movie theaters and other entertainment companies on the list have grown from 2 last year to 10, representing nearly $ 28 billion in additional debt.. « We distinguish between the wounded walking and the walking dead, » said Ken Monaghan, a portfolio manager at Amundi Pioneer, which oversees nearly $ 85 billion.. « The question is whether the business model has changed so dramatically as a result of the pandemic that survival is in question. Few sectors will likely die, but some may require a radical transformation to survive and attract capital. Economists have always warned that zombies are less productive, spend less on physical and intangible capital and grow less in terms of employment and assets than their peers.. But new research from the Bank for International Settlements shows that zombies may be more harmful to the economy than previously thought. Not only are companies staying in a zombie state longer than they have been in years past, but of the nearly 60% of companies that eventually emerge from the zombie state, many have nonetheless suffered from prolonged impairment in productivity and profitability. And growth, leading to long-term performance impairment. Moreover, companies that have recovered are three times more likely to become zombies again than companies that weren’t, according to the September study, which examined companies in 14 advanced economies over three decades.. . « Zombie disease also appears to cause long-term damage to those who recover from it, » Ryan Banerjee and Boris Hoffman of the Office for International Settlements wrote in the report.. . Therefore, “the viability of the firm should be an important criterion of its eligibility for government and central bank support. A representative of the Federal Reserve declined to comment. Some say the concern about the proliferation of zombie companies is overrated. While they made up 41% of the Yu. s. Companies in UBS Group AG analysis based on interest coverage ratios as of the second quarter, weighted by assets, the ratio has decreased dramatically, to only 10%. When using the bank’s preferred methodology, which looks at debt at the value of the institution, the stake has decreased to only 6%, near average levels since the late 1990s.. “The zombie problem is pretty benign in the United States. s. Matthew Mich., A strategist at UBS. “I don’t think the problem looks worse than the previous two recessions. Others are not sure. « The zombie question is one of the biggest open issues regarding the legacy of the pandemic, » said Nathan Sheets, chief economist at PGIM Fixed Income.. . Will our economy emerging from the pandemic be as dynamic and resilient as before? I am cautiously optimistic because competition is deeply ingrained in the United States. s. the system. However, he added, « however, the deleveraging of companies in the coming years will lead to slower growth, weak inflation and lower rates » as long as the eye can see. « . (Updates with Bloomberg Intelligence comment after paragraph 13) For more articles like this one, please visit us at bloomberg. comSubscribe now to keep up with your most trusted business news source. © 2020 Bloomberg LLC. s.
The return will cost the retailer about $ 4. $ 4 billion for registered shareholders as of December end of business. 2.
The best dividend stocks give a boost to income and retirement portfolios. These stocks offer strong returns and strong performance.
Shares of Costco Wholesale Corporation (NASDAQ: COST) are trading higher in the pre-market session on Tuesday after announcing a private dividend of $ 10 a share on Monday after hours. The dividend will be around $ 4. 4B in total and will be eligible for all shareholders as of December 2, payable on December 11. Costco stated that the new dividend will be funded with existing cash. After the announcement, the company’s chief financial officer, Richard Galanti, said: “This special dividend, the fourth in eight years, is the latest move to reward shareholders.. Our strong balance sheet allows us to pay off these dividends, while maintaining financial and operational flexibility to continue growing our business globally.. Although this is the company’s first announcement of a private dividend since April 2017, the retailer has announced a $ 0 quarterly dividend.. 70 per share, up 5 cents, in April 2020. In 2017, Costco announced a $ 7 special dividend per share, preceded by a $ 5 per share dividend announced in 2015.. Costco closed 0. 25% higher on Monday at $ 379. 79, making the stock up 29% year-to-date and over 6% this month. Only about 2% of the companies listed on the Russell 3000 have paid out dividends this year so far. In the wake of market fluctuations linked to the pandemic, many companies announced that they were suspending or withholding profits. Some of these companies include Wells Fargo & Co (NYSE: WFC), Dick’s Sporting Goods Inc (NYSE: DKS), Gap Inc (NYSE: GPS), Boeing Co (NYSE: BA), Carnival Corp (NYSE: CCL), and Las Inc. Vegas Sands. (NYSE: LVS) – to name a few. All over U. s. In the markets, regular dividend payments are down by more than $ 42 billion from the same period a year ago. See more from Benzinga * Click here for options deals from Benzinga * Market Minute Monday: Optimism ramps up * Friday market moment: growth versus value reversal point (C) 2020 Benzinga. Com. Penanga does not provide investment advice. All rights reserved.
Micron Technology (MU) is testing resistance in 2018 that could erupt, and finally set sights on the rise of the 2000 Internet bubble.
Ethereum, Bitcoin, Cryptocurrency, Blockchain. com, Anthony Scaramucci
World News – CA – First mover: Bitcoin tops $ 17,000 as Scaramucci makes Entrée and Ethereum meets competitor
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