Cryptocurrency litecoin falls 10% after payments processor ‘LitePay’ closes; ‘We got too excited,’ coin founder says
Litecoin dropped Monday after news that payments processor LitePay has ceased operations, prompting an apology from the coin’s founder for promoting the start-up. The cryptocurrency traded roughly 10 percent lower near $145 as of 4:08 p.m. ET, according to CoinMarketCap....
Traders are betting heavily against Tesla’s junk bonds
Investors are betting against Tesla’s bonds amid growing worries about the electric car maker’s ability to deliver on its production goals, given significant delays for the Model 3. “While equity short sellers continue to hang around, shorts in the most...
This small online retail stock will plunge if Facebook takes its data ‘punch bowl’ away, says short-seller Andrew Left
Citron Research’s Andrew Left, who’s gained notoriety for successful bets against companies such as Valeant Pharmaceuticals, on Monday posted a new bearish report on Shopify. Shares of Shopify fell more than 3 percent after Left disparaged the relationship between Shopify...
Bitcoin falls 7 percent to below $8,000 after Twitter’s ban on cryptocurrency ads
Bitcoin fell roughly 7 percent Monday to below $8,000 following weeks of regulatory uncertainty and advertising crackdowns by tech companies. The cryptocurrency was trading near $7,886 as of 3:04 p.m. ET, more than $600 lower than a day earlier, according...
Raytheon and these other stocks could win if there’s a trade war with China
Several companies will benefit relative to the broader market if a global trade war breaks out, UBS told clients Monday. In light of President Donald Trump’s tariffs on Chinese goods and proposed levies on industrial and technological imports, a number...
JP Morgan warns clients about owning tech stocks in the face of tariffs: ‘Lock profits in’
Pricey technology stocks could come “under pressure” thanks to President Donald Trump’s tariffs on China, J.P. Morgan warned clients Monday. We have a “cautious stance on [the] tech sector, which has elaborate supply chains, is sensitive to consumer and corporate...
How the Fed’s outlook could be worrisome for markets
There’s a deeper hawkish tilt to the Federal Reserve’s outlook for interest rates that could be worrisome for markets. Federal Reserve officials, in their first meeting chaired by Jerome Powell, raised their median forecast for the funds rate for 2019...
CFETS ramps up its tech partnership with NEX
China Foreign Exchange Trade System (CFETS) is a sub-institution directly affiliated to the People’s Bank of China. Under the strategic objective of becoming the leading global trading platform and pricing centre for renminbi and related products, it provides a series...
Fed still expects 3 rate hikes this year, but will pick up the pace in 2019
The Federal Reserve said Wednesday that it sees the federal funds rate at 2.1 percent by the end of 2018, unchanged from its December forecast. But the central bank raised its 2019 projection, saying it sees the benchmark rate at...
Total American net worth ratio reaches new high — which in the past signaled a recession was not far away
Nine years into the second-longest bull market run in history, the level of total net worth compared with income has reached a record, according to Joe LaVorgna, chief economist for the Americas at Natixis, citing Federal Reserve data. Since the...
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