A rally for the US stock market today. Small-cap stocks outperformed and Nasdaq underperformed. Dow Jones closed 506 points higher, and S&P 500 gained 53 points. The closing numbers for the US stock market today follow.
Stocks extended gains Thursday, as investors cheered the Federal Reserve’s latest signals on monetary policy, which suggested the central bank was warming to a near-term policy adjustment as the economy improved further.
Traders also eyed developments on China Evergrande (3333.HK), which faced an about $84 million interest payment for foreign bondholders on Thursday, in one of a string of liabilities coming due for the debt-ridden Chinese property giant as it tries to avert a default. The stock rallied 17% on the Hong Kong Stock Exchange after the company said it agreed to settle interest payments for an onshore note on Wednesday, even as the fate of its offshore payments hang in balance.
Major Wall Street indices surged, extending gains made a day earlier, when the blue-chip index rose for the first time in five sessions and shook off some of its steep losses from the start of this week. The S&P 500 posted its best day since July, and the Dow added more than 500 points, or 1.5%.
The Federal Reserve’s upbeat tone on the economic recovery, and suggestion that the timing of the tapering process of its asset purchase program would come largely in-line with market expectations, helped sustain a rally in risk assets during Wednesday’s session. Fed Chair Jerome Powell reiterated that he believed the U.S. economy had already surpassed the central bank’s goals for inflation, and said a “reasonably good” September jobs report would indicate that the Fed’s employment goals to begin tapering had been satisfied as well.
More members of the Federal Open Market Committee also pulled forward their expectations for when interest rates would be hiked from their current near-zero levels, with exactly half of FOMC members now projecting at least a first hike by year-end 2022.”
A mixed close today for the US stock market. Early gains for the stock indexes erased and at the close S&P 500 and Dow Jones closed flat, and Nasdaq and Russell 2000 with minor gains, Small-cap stocks outperformed. The closing numbers for the US stock market today follow.
“Stocks fluctuated between gains and small losses on Tuesday, a day after a bevy of concerns out of China and in Washington spurred a steep sell-off across risk assets.
Traders also turned their attention to the start of the Federal Reserve’s latest two-day monetary policy-setting meeting, where the central bank is expected to give hints about curtailing its massive stimulus that’s helped contain the worst economic effects of COVID-19.
On Monday, the Dow had closed lower by more than 600 points, or about 1.8%, while the Nasdaq shed more than 2%. Fears of a financial contagion that could ensue if China’s largest real estate developer China Evergrande defaults under its massive debt burden served as one major point of concern for investors at the start of the week, triggering a global equity rout that put the S&P 500 on track for its third straight weekly decline.
This built on worries from earlier this month as Wall Street pundits revised down economic and profit growth expectations for the remaining months of the year.
And this week, investors are facing additional uncertainty over debates in Washington to raise the U.S. debt ceiling to prevent a government shutdown and U.S. government defaults on federal payments, and avoid what Treasury Secretary Janet Yellen said would become “widespread economic catastrophe.”
On Wednesday, the U.S. Federal Open Market Committee (FOMC) is set to deliver its latest monetary policy decision, which is expected to show the Federal Reserve is nearing the announcement of the timing of its plan to begin tapering its asset-purchase program that had helped support the economic recovery.
Still, a number of equity strategists offered a sanguine take despite the risks.
“Markets are clearly having some angst on the potential spillover effects from Evergrande, along with some nervousness over the September FOMC meeting. We’ve been in the camp that we’re overdue for a correction,” Cliff Hodge, chief investment officer for Cornerstone Wealth, wrote in an email. Monday evening. “At the moment, we’re not worried about a market crash. The Fed and Evergrande are not new. The market has known about both of these for a couple weeks in the case of Evergrande and a couple of months now for the Fed.”
“Sentiment is overly bearish, and institutions are well-hedged going into these events,” he added. “Markets don’t crash when everyone expects it. They crash when everyone is crowded and levered long.”
Others struck a similar tone.
“I think what people are missing if you’re leaning into this with a sell button is the fact that the economy is still expanding. Yes, it’s slowed down from the late spring, early summer peak, but we still have an economic expansion that’s likely to take hold here,” Jason Ware, Albion Financial Group chief investment officer, told Yahoo Finance Live Monday afternoon.
“We have an economy that’s working, we have record earnings that we’re going to hit this year, we have a Fed that’s still very much in full accommodation mode — and by the way, at their meeting this week, they’re probably going to be discussing what’s happening in China [as] just another reason for them to not taper this month,” he added. “And then finally, we have a fiscal authority that’s still in full-on wanting to stimulate the economy with spending.”
Bitcoin made headlines over the past few years for making a lot of people rich. At the same time, many people lost a lot of their investments once the Bitcoin bubble burst. Cryptocurrency can make you a lot of money but, then again, you need to know what you’re investing in.
Are you thinking about buying Bitcoin and investing money in it? Did crypto get your attention and pique your curiosity? We’ve put together 5 things to know before buying Bitcoin. Knowing this can help you assess if this cryptocurrency is right for you.
Bitcoin Is Risky and Volatile
Bitcoin, and crypto in general, are some of the riskiest investments you can do. Crypto is extremely volatile, which means its price changes rapidly every time. It can change day to day and even hour to hour – which is something that a few day traders take advantage of.
The price of Bitcoin can jump up in a matter of hours which, for some, is a great way to make a quick buck. As long as you buy low and sell high, that should give you a good chunk with your return on investment. However, the problem is that the flip side is possible too.
Depending on your payment solutions, your cryptocurrency purchase can be posted immediately or after a while. If its value falls, there’s a chance to lose money if you don’t hold. Bitcoin changes in value heavily due to supply and demand, market trends, and even regulations and legislations.
Know the risk when you start buying Bitcoin. Watch market trends and see if you’re buying at a low point for the currency so you can start low and eventually buy high. Never sell if you’re losing money at the crypto’s current value.
Bitcoin Transactions Are Transparent
Bitcoin, for all its criticisms, is one of the most transparent investments that you can do. Unlike stocks and bonds whose trading can be hard to follow, crypto in general uses blockchain, acting as a distributed ledger for the entire network. Every transaction is public and can be verified, traced, and found within Bitcoin’s blockchain.
Every transaction that you do, from buying to selling Bitcoin, is detailed as public information available. You’ll see real-time updates, with purchases broadcasted throughout the network. For all its transparency, Bitcoin is extremely anonymous too.
Unlike banks, Bitcoin is tradeable only through your Bitcoin wallet. It doesn’t ask for any pertinent personal information like name, address, or any identifying information. Bitcoin is also easy to move without too much cost.
Unlike the average fiat currency, you don’t need third-party services to move Bitcoin. The only fee you’ll experience is the blockchain fee, paid as a way to pay for the energy cost used for the transaction. For those buying from service providers, you’ll pay an extra 1 to 2% for the “spread”, which is the difference in value for how they buy and sell Bitcoins.
Bitcoin Is Not As Bad For The Environment As You Think
If you’re an environmental warrior, you likely heard about criticisms about Bitcoin mining and its environmental sustainability. The geography of Bitcoin mining changed over the past few months, mostly due to changes in the legislature in China, where many Bitcoin miners existed.
Due to national policy, China is now banning any Bitcoin mining activities within the country. The crackdown led to crypto miners dropping by around 50% overnight, cutting down on the impact of Bitcoin mining on the environment. This helped cut down the environmental impact of the entire system.
In addition, Bitcoin miners are moving to countries where renewable energy is cheaper. As the entire process itself is dependent on the renewable energy used by mining devices, knowing is half the battle. For those looking to go into Bitcoin, you can look for providers who guarantee net-zero emissions or something close.
You Can Buy Small Amounts of Bitcoin
Bitcoin value can be extremely high, going up to the hundreds of thousands in value per Bitcoin. Even then, you don’t have to buy a full Bitcoin to get into the cryptocurrency. This basic concept is something many brand new traders fail to realize, especially if they’re doing everything themselves.
Most buyers can purchase a very small fraction of a Bitcoin, divisible by up to eight decimal places. This puts the minimum you can buy at 0.00000001 bitcoins, also known as a “Satoshi”. The Satoshi, working as Bitcoin’s cents, comes after the name of the alleged creator of the cryptocurrency, Satoshi Nakamoto.
Many trade amounts can start with a very low minimum, most within the range of $5 to $10. This equates to around 11,000 to 22,000 satoshis (0.00011 to 0.00022 bitcoins). You can start low and see where your money goes for now, and then invest higher when its value goes up.
Don’t Invest for Fear of Missing Out (FOMO)
It’s hard to resist buying into a fad for a fear of missing out (FOMO). Considering the many crypto-millionaires and people buying homes with their crypto profit, it’s hard to deny the pull of such feats. When you hear of such details, be wary about coming in and going all-in with your investment, as you might be a victim of “herding.”
Herding is a type of social bias that makes you do what your peers do, believing that everyone knows better and you’ll reach the same success they did. The problem is that, as we noted, Bitcoin is heavily affected by supply and demand. As more people buy Bitcoin and its value grows, many also cash out and sell Bitcoin.
It’s important that, as you buy cryptocurrency, research every action that you do. Know what you’re buying. Don’t be that person who buys a currency thinking it’s on the low, only to discover that you’re sold falling crypto. Some people push people to buy and then move towards a pump and dump. Evaluate if this is the right investment for you.
The Bottom Line
There’s no free lunch when you’re investing money. Whether you’re buying Bitcoin, stocks, or other cryptos, you need to know what you’re getting yourself into. Do not buy more than your capacity and make sure to research the market before doing anything else.
Go only to trade providers you can trust. Rather than follow the crowd, understand the market yourself and see when’s the right time to invest. Bitcoin is a great investment portfolio that can make you a lot of money. If you can handle its level of volatility, this can be a fantastic way to get extra income.
“Stocks pared gains to trade mostly lower on Monday, with the S&P 500 poised to extend losses into a sixth straight day.
The Dow added about 100 points, or 0.3%, during intraday trading. Shares of Apple (AAPL) led the way higher as the stock shook off losses from Friday, which came after a California judge issued a permanent injunction against the iPhone-maker’s App Store policies amid an antitrust lawsuit with Epic Games. Investors also awaited a highly anticipated Apple event on Tuesday, which is expected to serve as the forum for the unveiling of a new iPhone and other hardware.
The S&P 500 and Nasdaq turned lower Monday afternoon after opening in positive territory. Equity investors digested heightened regulatory scrutiny in China after the Financial Times reported that Beijing was aiming to break up financial technology company Alipay and separate its lucrative lending business. Shares of Chinese technology giants including Alibaba (BABA) — which owns a stake in Ant Group — and Tencent (TCEHY) dropped in early trading.
Traders this week are set to closely eye new data on U.S. inflation and consumer spending. The former will be monitored to signal whether upward price pressures during the recovery have extended further, and whether the Federal Reserve may need to step in sooner rather than later to stave off a lasting jump in inflation. Consensus economists expect Tuesday’s consumer price index (CPI) to rise by 5.3% in August over last year, pulling back from July’s more than decade-high annual rise of 5.4%.
“Global supply problems could put some further upward pressure on inflation in the near term, but the increase in inflation experienced in the immediate wake of the COVID crisis is close to peaking and we expect headline inflation to fall back in every major advanced economy in 2022,” Capital Economics economist Jack Allen-Reynolds wrote in a note Monday morning.”
Forex trading involves doing a lot of research and applying a great strategy. However, to be a successful forex trader, you also need to select a good forex broker. There are thousands of forex brokers available in the market, making choosing the right one a daunting task. If you are wondering what the best way to go about it is, do not stress yourself anymore. Here are tips on the factors that you should consider when choosing a forex broker.
1.Features Of The Account
Every Stock Forex broker offers different things. When comparing other brokers, you need to consider the key features: spread, commissions, margin, and leverage. Withdrawals, deposits, and initial deposits are essential features that can help you decide which broker to choose.
Spread is the difference between the ask and bid of a forex pair. Some brokers take commissions, so they charge a certain percentage of the spread. The brokers that do not charge a commission make money through wider spreads. Research well and know how a broker makes money. The wider a spread is, the harder it can be to make money.
Brokers allow traders to use the leverage that is in their margin account. Some accounts can give you significant leverage of 200:1. Leverage favors traders when they are in winning positions because the profits get significantly enhanced and vice versa.
Most brokers allow traders to deposit a small initial deposit which can be as little as $50. Most forex brokers give traders a variety of trading accounts to meet the needs of a wide range of traders. There are three major accounts namely micro account (1 lot= 1000 units), mini account (1 lot + 10,000 units) and standard account (1 lot =100,000).
A good broker should also be easy to deposit and withdraw. You can fund your account online through different methods such as personal or business checks, bank checks, wire transfer, Paypal, ACH payments, or credit card. You can withdraw by wire transfer or check. You can be charged a fee for one of the services.
Each trader has different needs. Some traders want a broker who offers more than just forex. Some brokers provide commodities such as oil and gold. If you are a trader who likes to trade in this other stuff, you should ensure that the account you are about to sign up for will have these products available for trading.
The broker you choose will also depend on your level of experience. Are you a beginner, professional, day trader, or scalper? If you are a beginner, the ideal CFD account has comprehensive trading education resources, a user-friendly trading platform, and access to a demo account for practice purposes. You will consider low spreads, high leverage, and comprehensive trading tools if you are a professional. These tools could include things like complex live charts, an economic calendar, and a commission calculator.
If you are a day trader, it will be great if the broker offers a wide range of instruments to help you find trading opportunities. These tools include earning reports, marketing news, an economic calendar, and a signal device. An ECN broker will also be perfect for you because they have tight spreads, which are essential when trading small moves. If you prefer to scalp, make sure the broker you choose allows scalping since some do not allow it.
Reputation should be put into consideration when choosing a broker. Every country has a body that regulates brokers. To ensure that your deposit is safe and the broker you are dealing with is credible, you should only open regulated accounts. In the US, a reliable broker will be registered with the Commodity Futures Trading Commission or be a member of the National Futures Association (NFA).
Ensure that the trading platform you want to trade on is user-friendly, and you can enter and exit trades with ease. Additionally, the software and platform should come with the necessary fundamental analysis and technical tools.
Choose a platform that offers customer support 24/7. Find out whether it is possible to call a live person using a phone. This will help you know the average wait times and the kind of customer services they offer. Most people tend to overlook this factor when they are selecting a trading platform. They forget the crucial role that customer service plays in their general trading experience. You will need customer service assistance at some point in your trading activities, so it is essential to ensure the broker you want to sign up with can provide excellent customer service.
6.Currency Pairs Offered
Only a small percentage of currencies available for trading get much attention. Thus, they trade with the highest liquidity. These pairs include GBP/USD, EUR/USD, USD/CHF, and USD/JPY. Pick a broker that offers the pairs that you prefer as a trader.
A 5th day of losses for the US stock market today. All major stock indexes fell more than 0.70%. The closing numbers for the US stock market today follow:
S&P 500: 4,458.58,-34.70 (-0.77%)
Dow 30: 34,607.72,-271.66 (-0.78%)
Nasdaq: 15,115.49,-132.76 (-0.87%)
Russell 2000: 2,229.65,-19.48 (-0.87%)
Stock market news
“Stocks on Friday appeared to extend their losing streak to a fifth day, with investors growing more cautious about the COVID-19 pandemic’s impact on the economy.
President Joe Biden spoke with Chinese President Xi Jinping for the first time in months, provided modest comfort to investors early in the session. While little progress was made, the call highlighted how the world’s two largest economies — which have a raft of differences on critical policy issues between them to work out — are still keeping the lines of communication open.
However, after Bloomberg reported that the Biden administration may investigate Chinese subsidies — and their impact on the U.S. economy — stocks reversed early gains. The Dow shed over 200 points, while S&P 500 Index capped its worst streak since a 5-day slide that ended on February 22.
“The Sino-American relationship is in disrepair, and today’s call does not seem to change this,” noted Marc Chandler, chief market strategist at Bannockburn Global Forex, in a morning note he entitled “frenemies talk, but progress elusive.”
He added: “The US appears to list actions it wants China to take, while China’s demands seem minimalist: Quit demonizing it and respect its red lines. Yet its red lines strike at the very heart of the international order, such as its claims on most of the South China Sea and its aggressive provocative actions in the region,” Chandler added.
Meanwhile, data on Friday showed that prices paid by producers surged last month, as supply and labor strains exerted more inflationary pressure on the economy — showing how demand remains white hot and resilient, even in the face of COVID-19. The producer price index jumped by 0.7% last month, and skyrocketed by 8.3% through August, the biggest year-on-year advance since November 2010, after surging 7.8% in July.
“At first blush it could raise some eyebrows that the market would shrug off the biggest producer price increase ever recorded, yet context is key,” said Mike Loewengart, managing director of investment strategy at E*TRADE Financial.”
“Stocks fell on Thursday, with Wall Street logging a 4th consecutive day of losses, as investors struggled to reconcile a still-hot jobs market with soaring COVID-19 infections that have blunted the economy’s momentum.
The Dow Jones Industrial Average and S&P 500 Index have now retreated four days in a row, but the technology-laced Nasdaq has only fallen for two consecutive days. Investors have been in a foul mood since August’s jobs data fell far short of market expectations last week, and tempered hopes for the fourth quarter.
Separately, however, Labor Department data showed that open jobs hit yet another series record, with workers quitting their jobs en masse, and nearly 11 million positions unfilled. On Thursday, new jobless claims set a new pandemic era low at 310,000, temporarily allaying fears about the economy.
“We’re transitioning from a very early cycle environment in which growth was super charged coming out of the recession last year…” PIMCO managing director and portfolio manager Erin Browne told Yahoo Finance Live on Thursday. “We’re still in a very good spot in the economy and…in terms of corporate profitability and the outlook for it.”
However, investors are trying to calibrate a jobs market that remains historically hot against growth that’s clearly losing momentum, based on the resurgence of COVID-19 infections led by the Delta variant.
The U.S. economy “downshifted slightly” in August as concerns grew over how the renewed surge of coronavirus cases would affect the economic rebound, the Federal Reserve said on Wednesday in its latest Beige Book.
The latest labor market reads contrast sharply with August payrolls, which showed the economy creating a relatively slim 235,000 new positions, and stoked speculation that the Federal Reserve’s Open Market Committee (FOMC) could alter its timetable for scaling back its stimulative bond-buying, which has propped up investor confidence.”
“Stocks gained Thursday as investors awaited more labor market data, which will serve as crucial information in determining the path forward for the monetary policies underpinning risk assets over the past year.
Ahead of a key monthly report on job gains, a new print on weekly unemployment claims came in lower than expected, underscoring further improvements in the economic recovery.
The S&P 500 advanced to an all-time high. The Nasdaq also rose to set a fresh intraday record before paring some gains during the afternoon session.
The indexes’ latest march to record highs has been powered by technology stocks, with the Nasdaq extending a run of outperformance from August. This has in turn signaled investors’ concerns over the status of the economic recovery given the Delta variant’s spread, with growth and technology stocks seen as more of a defensive trade amid a coronavirus resurgence.
For cyclical stocks like energy and travel shares to keep pace, “We’ve got to see a rollover in COVID case counts,” Jeffrey Kleintop, Charles Schwab chief global investment strategist, told Yahoo Finance. “We’ve seen that in some states that seem to be leading the trends, and some countries as well, but I think we’re really dependent on case counts coming down and renewed confidence in that reopening, and travel and the service sector continuing to show growth.”
New economic data on Wednesday appeared to vindicate market participants’ concerns over a slowing recovery. ADP’s closely watched monthly payrolls report showed that just 374,000 private payrolls returned in August, sharply missing estimates for 625,000. And Friday’s officials jobs report from the Labor Department is expected to show a deceleration in non-farm payrolls gains, with these likely rising by 725,000 for August after jumping by 943,000 in July.
“The private payrolls numbers have been all over the map during the pandemic,” Mike Loewengart, managing director of investor strategy at E-Trade Financial, wrote in an email on Wednesday. “But with so much pressure on improvement on the labor market front coming from the Fed, this could send a signal that jobs growth is stagnating. That’s likely a good thing for the markets, though, as it means easy money policy continues.”