Tag: Stock

US Stock Indices Dow Jones, SPX Tank, Taking Down Bitcoin In Tandem

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Bitcoin has been collapsing after failing to hold $11,000, and it could be thanks to negative sentiment surrounding a tanking stock market that’s taking the crypto market down in tandem. Here’s why things could get really bad for Bitcoin and the rest of the crypto space if major US stock indices continue to plunge. Major US Stock Indices S&P 500, Dow Jones, Drop On Today’s Quadruple Witching The S&P 500 is down more than 7% from local highs. The Dow Jones Industrial Average, has also lost 5% from its recent…

TSLA Stock Rises 4%, Tesla Clinches Victory in Ex-Employee Lawsuit

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The news about the victory in the lawsuit filed 2 years ago has pushed the price of Tesla (TSLA) stock higher. Electric automaker Tesla Inc (NASDAQ: TSLA) has clinched victory in the lawsuit filed in 2018 against its former employee Martin Tripp. As reported by Reuters, Martin was fired for hacking and transferring company data to third parties, according to court documents filed on Thursday. Meanwhile, after the news, today in the pre-market, TSLA stock is 4.60% up, trading at $442.89. Martin Tripp, a Tesla (TSLA) employee at the company’s…

AAPL Stock Up 0.5%, Apple Plans Launch for First Online Store in India

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Amid recent expansions, Apple has announced the commencement of its first online store in India on the 23rd of September. AAPL stock is up less than 1% in the pre-market trading. Apple Inc (NASDAQ: AAPL) is planning to launch its first online store in India in the coming week. According to the announcement, the online store will offer a full rage of Apple products to interested customers all over the country. The store will also offer unique price offerings to students in need of Macs or iPads. The launch coincides…

Wall Street Strategist Pops Stock Market Bubble Fears Until 2022

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The U.S. stock market bull run might continue because portfolio managers don’t see an inflation-led asset bubble as a threat. It is hard to accurately measure inflation and strategists say that a bubble won’t likely form in the near term, at least until the year’s end. Meanwhile, the Federal Reserve’s average inflation policy and low-interest rates fuel the appetite for high-risk assets. The Federal Reserve’s average inflation policy and the threat of an asset bubble aren’t moving the stock market. It shows that investors are still skeptical toward the Fed…

MRNA Stock Up 1%, Moderna to Confirm Efficacy of COVID-19 Vaccine by November

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Moderna COVID-19 vaccine candidate dubbed mRNA-1273 has entered its late-stage trials. The company noted that as of Wednesday, September 16, 2020, about 25,296 participants have been enrolled. The CEO of biotechnology company Moderna Inc (NASDAQ: MRNA) Stephane Bancel has disclosed the company will know whether its COVID-19 vaccine candidate will be effective in combating the coronavirus disease sometime in November. As reported by the Boston Globe, Moderna CEO made this declaration about their COVID-19 vaccine known in an interview stating the slowing rate of the coronavirus infection will halt the…

GE Stock Jumps 10% on General Electric’s Positive Expectations

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As analysts predict, General Electric’s full-year cash burn will total about $2 billion, which means $1 billion in positive free cash flow over the second half of the year.  On Wednesday, Boston-based conglomerate General Electric Company (NYSE: GE) held its annual Morgan Stanley Laguna Conference. During the event, Executive Director at Morgan Stanley Josh Pokrzywinski and General Electric CEO Larry Culp discussed the company’s performance. General Electric is making good progress towards its cost-cutting plan and expects to have positive cash flow during the second half of 2020. Amid the news,…

Dow Jones Adds 36 Points, S&P 500 Affected by Tech Stock Drop

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The Dow Jones Industrial Average rose 36.78 points, or 0.13%, to 28,032.38 yesterday. However, the index has now dropped 1.77% YTD. On Wednesday, the Federal Open Market Committee (FOMC) released important economic aspects that affected major stock indexes including the Dow Jones Industrial Average and also the S&P 500. Members of the Fed’s policymaking committee indicated the overnight rate could stay near zero through 2023 in order to achieve its 2% inflation goal. “With inflation running persistently below this longer run goal, the Committee will aim to achieve inflation moderately…

MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase

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On Tuesday, the NASDAQ-listed business services company MicroStrategy bought $175 million worth of Bitcoin. This came just weeks after the company siphoned $250 million into the leading cryptocurrency, citing its ability to act as a reserve asset better than U.S. dollars. At the time, company chief executive Michael J. Saylor said: “This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.” This was a stark reversal from Saylor’s…

MSTR Stock Up 8% Today, MicroStrategy Adopted New Policy on Bitcoin

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After investing in BTC for the first time last month, MicroStrategy yesterday announced that it had purchased more Bitcoins. Business intelligence company, MicroStrategy Incorporated (NASDAQ: MSTR), is leading in the list of companies that have adopted Bitcoin as their reserve currency. Earlier last month, the company expressed its belief that the virtual currency powered by a public blockchain is superior to cash over the long term, claiming it to be a “reasonable hedge against inflation.” After investing in Bitcoin for the first time earlier last month, MicroStrategy yesterday announced that…

TSLA Stock Jumps 7%, Tesla Prepares for Its Battery Day

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Tesla stock jump is being attributed to the fact that one of its biggest rivals, Nikola is facing fraud charges with the SEC. Closing yesterday’s market trading at $449.79 Tesla Inc (NASDAQ: TSLA) stock added 7.18% in respect to the day’s opening value. Tesla (TSLA) stock was trading around $439, 2.37% down during Wednesday’s premarket. Amazingly Tesla stock has managed to continue with the rally in the past five days even after fears of possible sell-off.  Fear had begun to grip Tesla stock investors after the company reported that it…