Tag: Bitcoin (CME:BRTI)

Hello traders everywhere. The stock market dropped Friday after the Trump administration announced its China tariffs saying it will impose a 25% charge on up to $50 billion in Chinese goods. On that news the DOW dropped over 200pts, the S&P 500 dropped 0.4% as tech and industrials fell and the NASDAQ has backed off its all-time highs to shed 0.35%.

In a statement Friday, President Donald Trump said the measures would affect Chinese goods "that contain industrially significant technologies," without specifying those products. He added that the action comes "in light of China's theft of intellectual property and technology and its other unfair trade practices."

Trump also said the U.S. would impose more tariffs on Chinese goods if China retaliates with duties of its own on American products. This left many traders to wonder if we are officially in a "Trade War" with China now.

Key Levels To Watch Next Week:

Continue reading "China Tariffs Stop Stock Markets Momentum" →

Hello traders everywhere. The likes of Netflix Inc. (NFLX) and Time Warner Inc. (TWX) have propelled the NASDAQ (COMP) to record highs today hitting $7,748.96 in morning trading. Move higher comes after a federal judge approved the blockbuster merger between AT&T and Time Warner on Tuesday, blocking the government's effort to stop the $85.4 billion deal. This decision could unleash a wave of corporate takeovers.

The judge, Richard J. Leon of United States District Court in Washington, said the Justice Department had not proved that the telecom company's acquisition of Time Warner would lead to fewer choices for consumers and higher prices for television and internet services.

The merger would create a media and telecommunications powerhouse, reshaping the landscape of those industries. The combined company would have a library that includes HBO's hit "Game of Thrones" and channels like CNN, along with vast distribution reach through wireless and satellite television services across the country.

On the other side, the S&P 500 and DOW are relatively unchanged on the day awaiting the announcement of the Federal Reserves interest rate hike decision at 2 pm EDT today. It's expected that Fed Chair Jerome Powell and his colleagues will announce a quarter-point increase in interest rates as the central bank seeks to normalize monetary policy with the economy showing signs of health. Continue reading "NASDAQ Hits Record High On Judges Ruling" →

Hello traders everywhere. The CME Bitcoin real-time index dropped over 10% on Sunday giving many cryptocurrency traders a Sunday surprise. The index traded as low as $6,643.58 before finally closing the day at $6,781.18. It's the first time since early April that Bitcoin has traded below the $7,000 level. However, it shouldn't come as a surprise after it's been trapped in a tight trading range between $7,000 and $7,800 since about mid-May.

Media reports will have you believe that the price drop is due to a hack on the South Korean exchange Coinrail, which was revealed Sunday, and renewed concerns regarding security at cryptocurrency exchanges. However, a significant move was expected anyway, as an extended period of consolidation or low volatility is often followed by a sharp move on either side and prices started falling Saturday, so the theft of ERC-20 tokens at a minor exchange seems an unlikely cause.

Events To Keep In Mind This Week

Continue reading "Bitcoin Delivers Sunday Surprise" →