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2022-04-28 20:56:11 The Race for the Future of Money

The future of money belongs to Digital Financial Market Infrastructure (DFMI) - but Central Banks, Private Sector companies and the scions of Decentralised Finance are all fighting for the same ground.

As cryptocurrencies and stable coins have become meteorically more popular across the globe, the world’s central banks have realized that they need to provide an alternative or let the future of money pass them by.

Currently, 87 countries (representing over 90 percent of global GDP) are exploring a Central Bank Digital Currency (CBDC), while 9 countries have now fully launched a digital currency. In other words, the race for the future of money is well underway.

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2022-04-28 20:54:02 The Fed may turn investors into stock haters just in time for the next upturn. Boomers may lead the revolt, says this strategist

A powerful, tech-led stock surge may be on the cards for Thursday, with Facebook parent Meta Platforms in the driver’s seat after less disastrous than feared results.

With earnings, inflation, a COVID-19 resurgence and war all in the balance, any equity gains could easily disappear in another sell-the-rip move. Wariness abounds as gross domestic product data loom, along with Amazon and Apple results due later.

“The Fed’s communicated policy trajectory was intended to weaken equities — equities and the dollar are the Fed’s main conduits to impact the economy and, in turn, inflation,” said the economist, in a recent note. “An acceleration of current market weakness adds to our expected near-term downswing in spending and, more critically, threatens to embed a much weaker outlook for spending heading into next year.”

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2022-03-02 23:39:16 More fear in the markets

Wall Street dipped back into the red on Tuesday. The S&P 500 lost 1.55%, the Dow (DJI) dumped 1.76%, the Nasdaq (NDX) sank 1.63%, and the Russell 2K (RUT) dropped 1.93% as the weakest link.

Commodities are coming out on top though. Goldman Sachs Commodity Index closed at ten-year highs on Tuesday, now up 26.7% for the year. Energy was the only sector that spent Tuesday in the green, and oil popped past $110 in Wednesday morning trading – its highest level since summer 2014.

Investors aren’t the only ones reacting to the crisis in Ukraine, with a number of big Western brands pulling back from Russia. Apple (AAPL) has suspended the sale of all its products in Russia, joining the likes of Nike (NKE), Ford (F), Boeing (BA), and Disney (DIS) in pulling back their involvement in the country to various degrees. As Veracity Worldwide’s Steven Fox said: “The temperature is going up rather quickly”.

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2022-03-02 22:38:57 Gazprom, Lukoil and Sberbank are now penny stocks as Russian companies collapse in London

Russian natural-gas giant Gazprom, oil-producer Lukoil and leading bank Sberbank are all penny stocks based on their trading on the London Stock Exchange, as the local market was shut for a third day.

Sberbank SBER, -78.43%, which had assets of over $500 billion at the end of 2021, was trading for 3 cents a share in afternoon action. The European Commission on Wednesday approved the resolution plan for its Croatian and Slovenian arms that will be sold. Its Austrian and Czech operations will be wound down, with depositors compensated up to €100,000.

Lukoil LKOD, -93.23%, Gazprom OGZD, -23.50%, and Rosneft Oil ROSN, -77.71% continued to collapse as the dollar-denominated secondary listings in London remained the one venue where Russia’s top companies could be valued.

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2022-03-01 18:56:49 HP CEO says we’re still in a PC boom, and his company’s record sales prove it

HP Inc. on Monday reported a steep increase in personal computer sales and overall revenue, and offered strong guidance for its fiscal year, offering the latest proof of a PC boom with no immediate end in sight.

“The PC market is $200 billion bigger than it was before the pandemic because of way people are working, playing,” HP Chief Executive Enrique Lores told MarketWatch in an interview before the results were announced. “We see this hybrid world for the foreseeable future.”

HP’s hyper growth in gaming, industrial 3-D, and peripherals — all of which grew by more than 20% year-over-year, and are on pace to be a $10 billion business — bear watching as the company expands into new markets, according to Daniel Newman, principal analyst at Futurum Research.

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2022-03-01 18:55:12 U.S. Inflation Could Be Worse Than Expected, Goldman Sachs Says — Atlanta Fed President Favors 25 BPS Rate Hike

While the conflict in Ukraine is a hot topic, fears of rising inflation continue to haunt Americans residing in the country, as economists and analysts note U.S. inflation will likely remain high. Inflation is likely going to be worse than initially feared this year, Goldman Sachs explained in a report published on Sunday. Moreover, in terms of inflation coupled with the Ukraine invasion, an economics professor at American International College (AIC) stressed there’s “a perfect storm brewing.”

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2022-02-28 16:15:41 U.S. stock futures slump as investors weigh impact of latest Russia sanctions

Dow futures plunge more than 400 points.

U.S. stock-index futures tumbled Monday after stinging new sanctions from the West over the Russian invasion of Ukraine.

What’s happening?

Wall Street ended sharply higher Friday, on hopes of peace talks between Russia and Ukraine — though such hopes appear dimmer after the weekend. The Dow Jones Industrial Average DJIA, +2.51% surged 834.92 points, or 2.5%, to close at 34,058.75, with the blue-chip gauge notching its best daily gain since early November 2020. The S&P 500 SPX, +2.24% rose 95.95 points, or 2.2%, to end at 4,384.65. The Nasdaq Composite Index COMP, +1.64% added 221.04 points, or 1.6%, to finish at 13,694.62.

For the week, the Dow dipped by less than 0.1% while the S&P 500 rose 0.8% and Nasdaq Composite climbed 1.1%. The S&P 500 and Nasdaq benchmarks wiped out losses from earlier in the week.

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2022-02-28 16:12:29 Russia May ‘Nationalize’ Foreign Assets in Response to Western Sanctions, Medvedev Says

Authorities in Russia may begin to seize funds of foreign nationals and companies that are in the country, former Russian President Dmitry Medvedev has indicated. His warning comes as the West continues to expend penalties imposed on Moscow over its military invasion of neighboring Ukraine.

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2022-02-27 23:40:03 Executive leaves Goldman Sachs for Coinbase and says it's time to embrace Crypto, Create Economic Freedom

An executive at Goldman Sachs is joining Coinbase after 16 years at the global investment bank. “It’s time to embrace the crypto economy,” he said, adding that the change is a “once in a lifetime opportunity to be part of building the next stage of the digital evolution.”

The former Goldman Sachs executive said: “The inspiring purpose led mission to create economic freedom in the world, in a customer first, automation first approach is a once in a lifetime opportunity to be part of building the next stage of the digital evolution.”

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2022-02-27 14:35:30 Open / Comment