Business & Financial | Published | LinksFever
83
Crypto investors are seeing red this week. Bitcoin plunged to two-month lows on Thursday, dipping below $9,000 for the first time since November. This week has seen coins across the board in the red — a sign that investors are jumping ship to fiat currencies this time instead of swapping into altcoins as we’ve seen in the recent past.
78
China's biggest e-commerce company beat analysts' expectations as the firm shrugged off any concerns about a market slowdown.

The company also said it would buy a 33 percent stake in its payment affiliate Ant Financial in exchange for certain intellectual property rights owned by the ecommerce giant.

Revenue for the October-December period rose to 83.03 billion yuan ($13.19 billion), up from 53.25 billion yuan a year earlier.

That exceeded the 79.8 billion yuan average estimate of 28 analysts polled by Thomson Reuters.
76
Zeven of eight indexes on our world watch list have posted gains through the first week of 2018. The top performer is Hong Kong's Hang Seng with a gain of 10.19%, followed by our own S&P 500 with a gain of 7.45%. In third is Bombay's BSE SENSEX with 6.62%. Coming in last is London's FTSE with a loss of 0.21%.

The chart below illustrates the comparative performance of World Markets since March 9, 2009. The start date is arbitrary: The S&P 500, CAC 40 and BSE SENSEX hit their lows on March 9th, the Nikkei 225 on March 10th, the DAXK on March 6th, the FTSE on March 3rd, the Shanghai Composite
Read More
on November 4, 2008, and the Hang Seng even earlier on October 27, 2008. However, by aligning on the same day and using a log scale vertical axis, we get an excellent visualization of the relative performance. We've indexed each of the eight to 800 on the March 9th start date. The callout in the upper left corner shows the percent change from the start date to the latest weekly close.
75
According to one valuation model that has a stellar long-term record, stocks are now more overvalued than they have been since 1969 — almost half a century ago.

The model to which I refer is based on a single number published each week in the famed Value Line Investment Survey, published by Value Line, Inc. The number represents the median of the projections made by Value Line’s analysts of where the 1,700 widely-followed stocks they closely monitor will be trading in three- to five years’ time. Followers refer to this number as the VLMAP, which stands for Value Line’s Median Appreciation P
Read More
otential.
75
Business sentiment towards the U.S. is more likely to be influenced by the administration’s stance on climate change and trade than by the recent tax cuts.
75
Donald Trump has taken his battle with the media on to the global stage by using a speech in Davos declaring the US open for business to accuse his press and TV critics of being mean, vicious and purveyors of fake news.

Some members of the audience of business leaders, politicians, academics and media representatives at the World Economic Forum responded to the president’s renewed onslaught by hissing.
79
The Japanese cryptocurrency exchange Coincheck was hit hard Friday.

A hacker managed to funnel out 500 million NEM coins, a value of more than $424 million USD, one of the exchange's co-founders said at a news conference in Tokyo Friday.

Japan’s Financial Services Agency is also investigating the theft.
75
Despite Goldman Sachs beating on earnings per share and revenue estimates for the fiscal fourth-quarter, not many investors had good things to say about the stock.

In fact, shares went lower in the two days following its earnings results. It made you think that Goldman Sachs "reported a hideous, horrible quarter where everything was bad and there was nothing good," TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment.
83
Given that bitcoin, despite its first-mover advantage, has no intrinsic value like a stock or real estate or gold, it's only worth as much as people are willing to pay for it.

If bitcoin crashes like skeptics predict, people that own it will lose lots of money, says Eric Schiffer, CEO of Patriarch Organization, a digital investment company.

But massive bitcoin losses, which could be triggered by a government crackdown, a major hacking event or it being usurped by one of the nearly 1,500 other cryptocurrencies, won't cause a financial meltdown, says Redwood.
75
The bank won't like it, but it needs to cut its biggest expense.

Last week, Goldman reported results for 2017, its most challenging year since at least the financial crisis. Debt and commodity trading revenue fell 30 percent. Equity trading was down 7 percent. Revenue in Europe was down.
83
Mark Cuban has had quite the successful run in the tech industry, successfully starting and selling businesses at the opportune time and using his profits to invest in the next big thing.

Thus far, the entrepreneur and tech expert has been hesitant to mark Bitcoin and cryptocurrency as that “big thing.” Over the years, Cuban has come around on the concept somewhat but—despite the recent announcement that his Dallas Mavericks will accept cryptocurrency as payment for tickets next year—has maintained a level of skepticism.

.........

Showing just have far Cuban has come on bitcoin and cr
Read More
yptocurrency, he announced earlier this week that his Dallas Mavericks will accept bitcoin and Ethereum as a method to pay for tickets starting next season. Even if the tech investor doesn’t fully believe in cryptocurrency, he’s clearly willing to try to profit off it—an approach that likely helped him become such a success in the first place.
77
The scorching-hot stock market is fresh off yet another week of new record highs, yet one glaring question remains: When will it all come crashing down?

The global investment strategy team at Bank of America Merrill Lynch has an idea.

The firm, which has repeatedly warned of investor overexuberance, has identified what it sees as the perfect storm for a stock market correction - traditionally defined as a 10% selloff - and it involves four different metrics crossing particular thresholds.

According to BAML's analysis, such a reckoning will occur once (1) real gross domestic product (G
Read More
DP) forecasts rise above 3%, (2) wage inflation climbs higher than 3%, (3) the 10-year Treasury yield exceeds 3%, and (4) the benchmark S&P 500 surges above the 3,000 level.
75
A slew of hedge funds are setting up shop in Asia, pointing to early signs of a revival after new starts slumped in 2017.

Long-time employees of Tybourne Capital Management, Moore Capital Management, Millennium Management and Soros Fund Management are striking out on their own. Global investors have renewed their interest in the region after Asia-focused funds were the top performers last year, and beat global peers in five of the past six years, according to data from Eurekahedge Pte.
79
Investors shrugged off the potential for a federal government shutdown Friday, driving U.S. stocks higher and setting new milestones for several of the indexes.

The Standard & Poor’s 500 index, Nasdaq composite and Russell 2000 index of smaller-company stocks finished at record highs as the market bounced back from modest losses a day earlier. The S&P 500 has now posted a weekly gain in nine of the last 10 weeks.

Retailers, banks and consumer goods companies accounted for much of the latest gains. Energy stocks fell along with crude oil prices. Utilities also
Read More
declined as bond yields edged up to their highest level in more than three years.
76
Goldman Sachs has identified the 14 S&P 500 companies set to see the biggest sales growth in 2018.

The firm ranked stocks in the benchmark S&P 500 index by expected 2018 sales growth, providing a handy guide to the companies the bank sees as most likely to enjoy revenue-driven gains.
75
Bitcoin’s meteoric rise and subsequent plunge has crypto investors scrambling for ways to make sense of the market. Wall Street certainly has tools, but do they offer any meaningful insight for an asset like Bitcoin?
76
Bitcoin hits a high of $12,045.09, up 30.9 percent from a low of $9,199.59 touched a day ago on CoinDesk.

CoinDesk's bitcoin price index tracks prices from Bitstamp, Coinbase, itBit and Bitfinex. Bitcoin traded about 27 percent above that low at $11,736 midday Thursday.

"Large dips of 25 percent or greater are a feature of the global, super liquid, near-instant cryptocurrency trading environment," Nolan Bauerle, director of research at CoinDesk, said in an email.
77
The presence of Donald Trump at this year's World Economic Forum should make headlines. But there's more to keep your eye on at Davos
76
Last year’s best performing commodity hasn’t lost its touch. Spot palladium prices have soared above a record that stood for 17 years.
79
For Greece, there is finally light at the end of the tunnel.

After nearly eight years of turmoil, the country is within striking distance of freeing itself from a bailout program that has strained its citizens and the eurozone alike.
78
Bitcoin tumbled 20% Tuesday on fears over expanded regulations.

The price of the volatile digital currency dipped below $12,000, its lowest level in more than a month, according to data from CoinDesk.com.

Other popular cryptocurrencies ethereum and ripple also posted double-digit losses.

It's unclear why bitcoin fell. Cryptocurrency is a murky market with frequent swings.
79
Asian shares slumped on Tuesday, as miners were pressured by weaker Chinese iron ore prices, while the euro stood near a 3-year peak on rising expectations that the European Central Bank could pare its monetary stimulus.
81
British construction and services company Carillion collapsed on Monday after its banks lost faith in the company, throwing hundreds of major projects into doubt and forcing the government to step in to guarantee vital public services
79
Asian shares hit historic highs on Monday after Wall Street extended its record-breaking run, while the U.S. dollar retreat continued as investors priced in the risk of tighter policies elsewhere in the developed world.

Activity was restrained somewhat as a U.S. holiday on Monday curbed trade in cash Treasuries, though E-Mini futures for the S&P500 made early gains of 0.2 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent to 591.66, finally clearing the former all-time top of 591.50 from late 2007.

Australia’s main index firmed 0.5 percent, while futu
Read More
res for Japan’s Nikkei pointed to opening gains.

Investors were optimistic that Chinese gross domestic product data due on Thursday would show growth of at least 6.7 percent for the world’s second biggest economy.
76
Metropolitan Bank Holding Corp, which is used by cryptocurrency companies and investment firms for wire transfers and deposits, has ceased all cryptocurrency-related international wires effective immediately, Fortune has learned.

A Metropolitan customer confirmed to Fortune that his investment firm was notified on Thursday morning that the bank was “ceasing all international crypto-related wire transfers to and from” it effective immediately. The reason for the shutdown, according to the customer, was because the bank could not verify the compliance of international wire transfers for crypt
Read More
ocurrency accounts. The move is alleged to be a response to an incident of international fraud associated with one of the bank’s clients.
75
Japan’s plans to develop its renewable energy industry are lagging much of the world, as the nation has “prioritized keeping the status quo for fear of change,” Foreign Minister Taro Kono said.
75
2017 will go down in FMC Corp.'s(NYSE:FMC) history as one of its best years yet, what with the stock skyrocketing 67.4%. Bulls point at lithium as the stock's major driver last year, but FMC derives little sales from the chemical element that has seen its demand and prices soar in recent times as the adoption of electric vehicles gathers steam.

FMC shares, in fact, got their biggest kick in March 2017 when the company announced its intention to swap its struggling health and nutrition business and $1.2 billion in cash for DuPont's crop protection business. (DuPont is now known as DowDupont
Read More
Inc. (NYSE:DWDP), after its merger with Dow Chemical.) That was a great move, but if you look at FMC's operational performance, you may begin to question the stock's run-up last year. You shouldn't, as the market is wisely betting on FMC's future.
75
Jeffrey P. Bezos, founder of Amazon and owner of The Washington Post, announced Friday that he is donating $33 million to a scholarship fund for young "dreamers," immigrants brought to the United States illegally as children. The donation comes amid fresh pressure from business leaders as talks on Capitol Hill over how to resolve the legal status of dreamers are foundering. The White House and some GOP lawmakers rejected a tentative deal from a bipartisan Senate group on Thursday - the same day President Donald Trump made incendiary remarks about people from developing countries. Bezos, who is
Read More
the wealthiest person in the world, and his wife, MacKenzie, will be donating the sum to TheDream.
76
China's exports and imports growth slowed in December after surging in the previous month, adding to signs of ebbing economic momentum as the government extends a crackdown on financial risks and factory pollution.

A synchronized uptick in the global economy over the past year has been a boon to China and much of trade-dependent Asia, with Chinese exports in 2017 growing at their quickest pace in four years.
77
The pound climbed to the highest since September, shrugging off Brexit concerns as it got a boost from a weaker dollar.

Sterling reversed a weekly decline as the dollar fell ahead of a U.S. inflation report that follows weaker-than-expected producer prices on Thursday. The pound had been pressured earlier this week by continued signs of division over Brexit and disappointing U.K. economic data.