Sunday, November 29

Day: October 23, 2020

U.S. reports more than 71,600 new Covid cases, near record highs, and hospitalizations rise
Business news

U.S. reports more than 71,600 new Covid cases, near record highs, and hospitalizations rise

A patient recovering from COVID-19 at Marianjoy Rehabilitation Hospital in Wheaton, Illinois, on September 30, 2020.Terrence Antonio James | Tribune News Service | Getty ImagesThe United States reported more than 71,600 new coronavirus cases on Thursday, approaching a record number of daily infections set in late July as the outbreak takes root across the Midwest and hospitalizations rise.Covid-19 cases are now growing "really in all parts of the country," with particularly high transmission rates in the Midwest, Jay Butler, the CDC's deputy director for infectious diseases, told reporters on a conference call Wednesday."Unfortunately, we are seeing a distressing trend here in the United States," he said on the call. The surge is likely due to cooler temperatures as the nat...
Stablecoins went wild in the days before Bitcoin’s recent surge
Crypto News

Stablecoins went wild in the days before Bitcoin’s recent surge

In the days preceding Bitcoin’s latest rise in price, stablecoins went wild, exhibiting some largely unprecedented behavior.Stablecoins: all stablecoins inflow transaction and address count of all exchanges. Source: CryptoQuant.On October 18, stablecoins moving to exchanges reached record highs of 60,000 and 56,000 respectively, according to data from CryptoQuant. The outlet's data tracked USDT on Ethereum, PAX, USDC, TUSD, DAI, SAI, BUSD, HUSD and USDK. When it comes to the total inflow of all stablecoins in terms of the dollar value, no extraordinary trends were detected.Stablecoins inflows to exchanges. Source: CryptoQuant.CryptoQuant CEO Ki Young Ju told Cointelegraph that, although the inflows were not huge in terms of dollar value, they signified a bullish trend among ret...
Career in Trading: How to Become a Full-Time Trader in 2021
Strategy, Technical Analysis

Career in Trading: How to Become a Full-Time Trader in 2021

It’s the ultimate goal of almost any new trader. Becoming a full-time trader with consistent profits means financial freedom and being your own boss.But, what does it take, financially, socially, and physically, to beat the markets on a regular basis and make a good income from trading?Trading isn’t as easy as many online educators want you to believe. It takes experience, patience, and screen-time to make a career out of trading.However, once you master the game, it can become rewarding.So, here is our guide on how to become a full-time trader in the year ahead.Trading as a CareerTrading is the hardest way to make easy money, yet so many new traders are attracted to trading each day. There are millions of active traders around the world. While some of them do this as a side ...
Gold Price Analysis: XAU/USD’s reversal from $1,914 contained at $1,895 support area
Forex

Gold Price Analysis: XAU/USD’s reversal from $1,914 contained at $1,895 support area

Gold recover attempt was capped at $1,914 to test support at $1,895 again. XAU/USD lost ground with the US dollar picking up. Uncertainty about US stimulus has boosted risk aversion.Gold’s upside attempt witnessed during the Asian and European trading sessions has been halted at $1,914 on the Early US session as market sentiment plunged and the precious metal has dropped to find support at $1,895.XAU/USD loses footing with the USD coming upGold futures have dropped nearly $20 from session highs, with equity markets moving into negative territory after having opened with moderate gains. The Dow Jones Index is trading 0.6% lower with the Nasdaq 0.4% below the previous closing.Risk appetite has taken a hit during Friday’s North American session, as the investors grew i...
Smart Money Index: What It Is and How It Works
Online Trading

Smart Money Index: What It Is and How It Works

Stock market indicators play an important part in the overall analysis of the market. Indicators are a reflection of traders’ moods.If the sentiment is positive, indicators will be buoyant.On the other hand, a lag reflects a dampened sentiment. These sentiments can also help you get an idea of the economy to some extent.Day traders can also formulate their decisions based on stock market indicators.In general, understanding the nuances of their composition and construction can be essential for making all types of trading decisions.A very important technical indicator within the world of the stock market is the smart money index, or better known as “the SMI”. Many day traders refer to it as the “smart money flow index”.This indicator is based on intra-day price patterns and trad...
Binance VC arm leads $1.3M raise for decentralized streaming protocol
Crypto News

Binance VC arm leads $1.3M raise for decentralized streaming protocol

Binance, the world’s largest cryptocurrency exchange, is funding a major decentralized audio streaming service through its investment and incubation arm.According to an Oct. 23 announcement, Binance Labs led a $1.25 million extension round for Audius, a blockchain-enabled streaming service that connects music fans with artists.The latest investment round follows a $3.1 million round co-led by Multicoin Capital and Blockchange Ventures in July 2020. Major industry players like Pantera Capital and Coinbase Ventures also participated in the round, as previously announced.According to Audius Co-founder and CEO Roneil Rumburg, the latest rounds brings the platform's total investment up to $9.8 million. Rumburg told Cointelegraph that it will use the funds to help artists grow and expand...
Dow and Nasdaq fall slightly as Intel shares drop on earnings
Business news

Dow and Nasdaq fall slightly as Intel shares drop on earnings

U.S. stocks were little changed on Friday as a decline in Intel pressured the broader tech sector. Investors also weighed the potential for additional fiscal stimulus as well as news on the coronavirus treatment front.The Dow Jones Industrial Average slipped 10 points, or less than 0.1%. The Nasdaq Composite pulled back by 0.4%. The S&P 500 hovered just above the flatline.Intel shares fell 10.9% following the release of mixed quarterly numbers for the chipmaker. The company's earnings were in line with analyst expectations, but revenue from its data center business fell short of analyst estimates.Gilead Sciences gained 3.3% after the Food and Drug Administration approved the company's drug, remdesivir, for use as a treatment against the coronavirus.Stocks were coming off a so...
Wall Street closes higher, trade choppy as US stimulus talks eyed
Stock News

Wall Street closes higher, trade choppy as US stimulus talks eyed

Shares on Wall Street ended higher on Thursday in choppy trading, as investors cheered the prospect of more fiscal stimulus to support a pandemic-damaged U.S. economy, with more data pointing to a slowing labor market recovery.Trading on Wall Street this week has been driven by a flurry of reports related to developments in the stimulus talks.U.S. House of Representatives Speaker Nancy Pelosi reported progress in talks with the Trump administration for another round of financial aid and said legislation could be hammered out “pretty soon”.However, White House economic adviser Larry Kudlow cautioned “significant policy differences” remained, which were unlikely to be resolved before the Nov. 3 election.related news“These stimulus rumors continue to swirl,” said Mike Zigmont...
#39;Cherry pick from these 5 sectors for multibagger returns; see exemplary earnings growth in 1HFY22#39;
Stock

#39;Cherry pick from these 5 sectors for multibagger returns; see exemplary earnings growth in 1HFY22#39;

Amit Jain feels the more domestic liquidity & trading activity have brought the Nifty back to 12,000 mark, which was primarily led by Reliance Industries & IT sector stocks.The Co-founder of Ashika Wealth believes if FIIs increase their allocation, there could be much broader market rally across all sectors. Also, in 2nd half, there could be much better corporate earnings, hence the market may have further reasons to cheer up.In his last interview in April 2020, he had advised investing in the IT, affordable automobile & Pharma sector. But now these sectors have already generated returns of 40 percent to 80 percent, hence it is time to rebalance, he said.Edited excerpts:Q: What should be a plan for investments if a person with age of 25 and 30, wants to make a Rs 1 c...
Michael Saylor claims the company will hold Bitcoin for ‘100 years’
Crypto News

Michael Saylor claims the company will hold Bitcoin for ‘100 years’

Microstrategy CEO Michael Saylor said he will hold his company’s Bitcoin (BTC) for 100 years, and has no intention of selling it.On Aug 11, the business intelligence firm announced it had purchase of 21,454 BTC for $250 million. This investment is now worth more than $278 million, representing an 11% increase in two months. The firm has purchased more Bitcoin since.In a new interview with Real Vision CEO Raoul Pal, Saylor said the decision to invest $250 million was informed by a discussion between its board of directors and the firm’s investors, auditor and executives. Saylor explained:“This is not a speculation, nor a hedge. It is a deliberate corporate strategy to adopt the Bitcoin Standard.”Microstrategy decided to restructure its treasury in response to recent global economi...