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The Dow and broader U.S. stock market declined sharply on Tuesday, as investors reacted to dovish commentary from Fed chief Jerome Powell that suggested central bankers were becoming ever-more concerned about the economy. Dow, S&P 500, and Nasdaq Sink in a Sea of Red All of Wall Street’s benchmark indexes traded in negative territory on […]
The post Dow Rips Lower After Fed's Powell Sounds Alarm Bell on U.S. Economy appeared first on CCN Markets
Digital currency prices have spiked considerably in the last 24 hours and bitcoin core (BTC) stopped short about $ 70 in an attempt to cross the $ 10K price zone. Most cryptocurrencies are up between 2-8% on Friday, June 21 and the entire cryptoconomy surpassed $ 300 billion.
Also read: These Are 2019’s Biggest Cryptocurrency Winners and Losers so Far
By CCN Markets: Even though Donald Trump kicked off his 2020 presidential campaign last night in Florida in front of a crowd of roughly 20,000, Wall Street isn’t entirely convinced that he’s committed. Jeffrey Gundlach, who is nicknamed the Bond King and whose firm DoubleLine Capital oversees $ 115 billion in AUM, told Fox Business that there’s a chance the president could change his mind. “If the economy goes into recession, and he can’t pull it out by removing the tariffs, there’s very little for him to run on.” Dropping Out Is Not Unheard Of While dropping out of a presidential
By CCN Markets: Presidential hopeful Bernie Sanders has reportedly called for a full-blown “political revolution” to fix the U.S. economy. Meanwhile, popular metrics such as the stock market and GDP point to economic vigor. In fact, since the Great Recession was over a decade ago, the economy has been expanding for the longest stretch in history. Bernie Sanders Calls for a ‘Political Revolution’ Bernie Sanders appeared on Fox News Sunday to give his opinion on directing the future of the U.S. economy. In an accompanying article, Fox labeled his rhetoric as “democratic socialism,” particularly when Sanders told the host, Chris
By CCN Markets: Morgan Stanley economist Ellen Zentner told clients today that June may be a rough month in the economy, going so far as to suggest “June Gloom” is looming. This comes on top of a similar warning two weeks ago from the very same Wall Street firm. The latest research note reportedly states: “The decline shows a sharp deterioration in sentiment this month that was broad-based across sectors.” Zentner is often solid on many things. On the most recent note, however, she’s off base. Morgan Stanley is relying on its proprietary Business Conditions Index (BCI), which reflects pivotal moments
Iran is toying with the idea of lopping zeros off its national currency as inflation goes through the roof. History tells us this is rarely a good idea. Cryptocurrency provides an alternative for those living in countries where the fiat currency is being rendered worthless. Crypto adoption in Iran is growing steadily, with government economic mismanagement credited with being a contributing factor.
Also read: Venezuela Wants to Use Petro to Finance Large Housing Program
By CCN.com: A publication by accounting firm PwC has placed India on track for a 7.6 percent growth in 2019, setting a path for the country to surpass both the U.K. and France in terms of economy. But ask any economist, and they would point towards why the coveted Gross Domestic Product (GDP) – which
The post PwC Thinks India will Outperform the U.K.’s Economy: Here’s what the ‘Big Four’ Firm and the ‘GDP’ Indicator get Wrong appeared first on CCN
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The post BANKEX Partners with Digital Trust Fund to Develop Uzbekistan’s Digital Economy appeared first on CCN
China’s weakening economy is driving fears of a global slowdown and now impacting oil markets. The price of crude oil fell 2.1% today. New Data Shows a Cooling Chinese Economy The latest data on Chinese imports and exports, below expectations, dropped the Dow Jones 230 points in premarkets today. The Dow Jones recovered but failed
The post Falling GDP, China’s Weakening Economy Drops Crude Oil Price By 2% appeared first on CCN
The United States will fall to a third place in the ranking of the largest economies in the world. China and India will overtake the U.S. by 2030, and it is unlikely that we will ever get the throne back. UK based financial services giant Standard Chartered Plc. predicted in its annual ranking of the
The post China & India are Surpassing US’ Economy By 2030 appeared first on CCN
Donald Trump delivered his first prime-time address from the Oval Office Tuesday evening, speaking directly to the American people about the need to for a planned border wall with Mexico. The speech came mere hours after Senate Democrats prevented the chamber from considering bipartisan legislation in an attempt to pressure GOP lawmakers to reopen the
The post President Trump Makes His Case for a Border Wall as Economy Hangs in the Balance appeared first on CCN
China’s well-known fears of social instability as a result of worsening economic conditions could be used to the advantage of the United States in the trade negotiations, U.S. Commerce Secretary Wilbur Ross has indicated. This comes as trade talks between the world’s two biggest economies entered a new stage on Monday in Beijing. Speaking to
The post China’s Weak Economy Gives US Upper Hand in Trade War: Trump Admin appeared first on CCN
Bitcoin and other cryptocurrencies do not pose a threat to the world economy, but should be monitored as the market “continues to evolve rapidly.” That’s the assessment of the Financial Stability Board (FSB), an international body that monitors the global economy. The observations were brought to light in a December 28 report by the Reserve Bank of India
The post Bitcoin Does Not Threaten Global Economy According FSB appeared first on CCN
The US economy will plunge into a recession in 2019, thanks to overreach by the Federal Reserve — which raised interest rates for the fourth time in 2018. That’s the sobering assessment of Canadian economist David Rosenberg, a strategist with Gluskin Sheff, a Toronto investment firm. “The market is behaving as it did during the worst collapse
The post US Economy Is ‘Complete Facade,’ Says Economist Who Claims Recession Is Near appeared first on CCN
The Dow Jones Industrial Average and other major stock market indices have posted steep declines during the second trading day of 2019, extending a downturn that saw them post their worst December returns since 2008. According to the top economist at Canadian wealth management firm Gluskin Sheff, these losses may have only been the beginning.
The post Dow Downturn Shows Economy is ‘Going into a Recession’: Gluskin Sheff Strategist appeared first on CCN
When we talk about worldwide crypto adoption, one of the most untapped places in the world is Africa. Nigerian blockchain experts have called for greater regulation of cryptocurrency on the African continent to strengthen the sector in the region and to help boost the economy. Although most crypto-fanatics will pour scorn on any talk of
The post Nigerian Blockchain Experts Believe Crypto Can Boost African Economy appeared first on CCN
The majority of bitcoin miners — about 78 percent — use renewable energy to power their mining operations, while preventing surplus electricity from going to waste in countries such as China, a new study by Coinshares has revealed. The U.K.-based digital asset management company argues that “bitcoin mining may in fact be acting as an electricity buyer of last resort,” contrary to the mainstream media construct of it being an environmental menace.
Also read: Bitcoin Mining Start-Up Envion Ordered to Close by Swiss Court
Russian Economic Development Minister Maksim Oreshkin has stated that while bitcoin has deflated like a “soap bubble,” it has impacted the world positively by boosting investment in new technologies. Speaking to the media on Wednesday at Russia Calling, an investment forum organised by VTB Capital, Oreshkin said that despite the woes of the crypto market,
The post Bitcoin Deflated Like a ‘Soap Bubble’: Russian Economy Minister appeared first on CCN
Riggs Eckelberry is the CEO of OriginClear, a company which provides water treatment solutions, and Chairman of WaterChain, a token project which works to crowdsource water funding in an effort to alleviate suffering as a result of the ongoing global water crisis, which isn’t scheduled to get any better as populations increase. In a recent
The post WaterChain Chairman: Cryptocurrencies Will Create An Entirely New Economy appeared first on CCN
The World Will Need A Fast Truly Decentralized Exchange To Keep Up
Recent news of TD Ameritrade’s investment in a futures exchange, Coinbase’s $ 8B valuation, and Web 1.0 mainstay Yahoo Finance, is offering a cryptocurrency chart.What does this tell the market? For starters, that crypto is steadily moving into mainstream finance.
The NYT recently served up this promotion from Visa. It’s hard to remember a time when Visa wasn’t a household name. But, if you can imagine it, even Visa was once a new technology offering faster transactions compared to the standard – at the time – check transactions. Now, consumer transactions and decentralized exchanges are very different, but the appeal is the same – fast is good, slow is bad.
