U.S. markets were volatile on Wednesday after opening sharply higher following the worst ever Christmas Eve for stocks. The gains were short lived as the major indexes turned negative within 30 minutes of trading. It appeared the selling pressure would lead to another rout, but buyers stepped up as the market tries to find a near-term bottom. Volatility stayed slightly elevated despite...
Continue reading >>U.S. markets closed sharply lower Friday, as Wall Street braced for a partial government shutdown and slowing global growth. The losses punctuated five days of selling pressure with fresh 52-week and multi-year lows now in focus.The Dow joined the other major indexes after officially forming a death-cross and has followed the Transports lower as the two tend to trade in...
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South Korea-based cryptocurrency exchange Bithumb has denied allegations of faking trade volume, Forbes reported on Dec. 19. Cryptocurrency exchange ratings and analytics service CER has accused Bithumb of faking up to 94 percent of its trade volume since the late summer of 2018. In response to the accusations, Bithumb reportedly told Forbes that "Bithumb is doing nothing to inflate trade...
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ASIAN STOCKS TALKING POINTS: Stocks were lower across the region following another Wall Street slide The Nikkei 225 was hardest hit, with financials wilting The US Dollar remained shaky as investors re-assess rate hike chances Find out what retail foreign exchange investors make of your favorite currency’s chances right now at the DailyFX Sentiment Page Asia Pacific stocks...
Continue reading >>U.S. markets showed continued weakness and downside momentum on Thursday with the major indexes setting another round of fresh 52-week lows. Much of the negative sentiment came from a looming government shutdown and the continued fallout from the Fed’s latest interest rate hike. The market reached session lows late in the afternoon following news the President would not be signing a...
Continue reading >>U.S. markets showed opening strength on Wednesday and ahead of the Fed announcement on interest rates. As expected, the FOMC raised the funds rate target by quarter-point with the major indexes losing steam immediately following the news. The major indexes made higher highs from the previous session ahead of the Fed news but the nasty finish was disappointing on the 2%-3% intraday swings....
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