June 2020

Did the U.S. Just Avert a Housing Market Crisis?

June 7, 2020 boss

The U.S. housing market may look up as employment numbers indicate a recovery. Job postings have started ticking up. Home demand remains strong. The housing market should have been in tatters given the massive spike in unemployment in recent months, but that hasn’t been the case so far. In April, the market held its ground, and prices rose at a stronger pace than March as per CoreLogic. And with the latest employment numbers turning out to be way better than expected, there’s a chance that real estate may have avoided…

Ransomware Attack Exposes 1.5TB of Stolen Aerospace Data

June 7, 2020 boss

ST Engineering Aerospace’s US subsidiary suffered a ransomware attack that managed to extract about 1.5TB of sensitive data from the firm and its partners. According to an article published by The Straits Times on June 6, the Singapore-based company was allegedly attacked by the well-known ransomware gang Maze in March, citing an analysis by cybersecurity firm, Cyfirma. The report details that the data stolen by the criminals is related to contract details with various government, organizations, and airlines across the globe. No additional details were provided on its content. Undetectable…

3 Reasons Why Airline Stocks Are Still a Sell Despite Recovery

June 7, 2020 boss

The major U.S. airlines have seen their stocks rise by double digits in under three weeks. Millennial investors on Robinhood now love American Airlines nearly as much as Tesla. The operating environment for carriers has improved slightly but not enough to justify an investment. A modest improvement in passenger traffic has seen the major airline stocks stage a recovery from their May lows. Since May 15, the stocks of the four largest U.S. airlines have all gone up by at least 25%. American Airlines (NASDAQ: AAL) has appreciated by around…

Blockchain Will Lead Digital Globalization Says Wanxiang Rep

June 7, 2020 boss

Dr. Xiao Feng, the Vice Chairman of investment company China Wanxiang Holdings, attended the 7th Global Investment and M&A Summit in Shanghai, according to local news on June 5. Dr. Xiao’s keynote on digital economic reform revealed speculation that globalization will migrate from the physical to the digital world. He believes blockchain and other disruptive technologies will be the tools by which we realize this digital globalization. He explained that: “Blockchain is a digital trust mechanism. Because of its characteristics of irrevocability, delectability and immutability, when we move these data…

These 2 Bitcoin On-Chain Metrics Suggest the Post-Halving Dip Has Ended

June 7, 2020 boss

On-chain data from blockchain analytics firm CryptoQuant suggest that miners are currently holding on to their mined BTC, a sign that may indicate a continuing recovery for the Bitcoin price given a lack of selling pressure from big mining operations. The Miners’ Position Index (MPI) provides insight into how miners shifting their BTC positions can impact the asset’s price action. An MPI reading above 2 suggests miners are selling their BTC after mining, while a negative value shows they’re avoiding selling as much as possible in favor of accumulation. Miners’…

The Fed Rescued Stocks from a Bear Market – But Bulls Won’t Like What Comes Next

June 7, 2020 boss

Investors have learned by experience that it’s dangerous to “fight the Fed.” Since March’s promise of unlimited spending, the stock market has reversed its free fall with a strong rally. A shift in Federal Reserve buying trends suggests that the stock market has little upside left – and a potential drop ahead. “Don’t fight the Fed” has been a powerful stock market trading mantra on Wall Street for a long time. From the financial crisis bailout era to Alan Greenspan’s invention of the “Fed put” after the 1987 market crash,…

Beware Fake Ransomware Decryption Tools

June 7, 2020 boss

As free ransomware decryptor tools begin to enter the market, a wave of fake software that claims to decrypt ransomware-affected files has begun to proliferate. According to a report released by Bleeping Computer on June 5, the creators behind Zorab ransomware released a fake STOP Djvu decryptor. Instead of recovering a victim’s data however, this software appears to encrypt their files further with a second ransomware. When the victim opens one of these tools, the software extracts an executable file called crab.exe. This is the Zorab ransomware itself. Once executed,…

Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, LINK, ADA, ETC

June 7, 2020 boss

If Bitcoin can break above the overhead resistance, a few altcoins are likely to pick up momentum and provide short-term trading opportunities. When the price of an asset does not reverse direction from a critical resistance, it indicates that some traders are holding onto their positions in anticipation of a breakout. For the past month, Bitcoin (BTC) has been repeatedly revisiting the $10,000 levels and even though the bulls have not been able to sustain above this level, they have not given up much ground either. This suggests that traders…