Tuesday, December 1

Day: October 29, 2020

Amazon reports sales growth of 37%, topping estimates
Business news

Amazon reports sales growth of 37%, topping estimates

Amazon reported better-than-expected third-quarter results after the bell on Thursday, including soaring profits and 37% revenue growth.The stock bounced around in extended trading, falling as much as 2%, after Amazon provided a wide guidance range for the fourth quarter.Earnings: $12.37 vs $7.41 per share expected, according to analysts surveyed by Refinitiv Revenue: $96.15 billion vs $92.7 billion expected, according to analysts surveyed by RefinitivAmazon said sales in the fourth quarter will be between $112 billion and $121 billion, which comes out to growth of 28% to 38% from a year earlier. Analysts were expecting revenue of $112.3 billion.The company forecast operating income of $1 billion to $4.5 billion, assuming about $4.0 billion of costs tied to COVID-19. That...
Chinese city seeks to power urban governance and more using blockchain tech
Crypto News

Chinese city seeks to power urban governance and more using blockchain tech

Authorities in Chengdu, China plan to adopt blockchain for several use cases throughout the city, including urban governance, cross-border trade, smart manufacturing, and agriculture.During the 2020 Chengdu Global Innovation and Entrepreneurship Fair, the city's first International Blockchain Industry Expo, Lu Tiecheng, secretary of the Party Group of the Chengdu New Economy Committee, released the "Chengdu Blockchain Application Scenario Supply Action Plan."According to a local media outlet, Red Star News, this plan will allow blockchain adoption applications to be submitted by contributors in a variety of fields such as education, healthcare, financial services, and intellectual property. Authorities expect to form around “two to three” blockchain cluster development areas as part ...
Coronavirus update: EU’s von der Leyen rekindles vaccine hopes, US refreshes record daily infections above 80,000
Forex

Coronavirus update: EU’s von der Leyen rekindles vaccine hopes, US refreshes record daily infections above 80,000

To keep the European Union’s (EU) positive impression, the European Commission President Ursula von der Leyen noted that the EU has already secured potential vaccines being developed by AstraZeneca, Sanofi and Johnson & Johnson.Von der Leyen further mentioned that they are in talks with Moderna, CureVac and a partnership of Pfizer and BionTech for potential vaccines. However, her warning that the spread will overwhelm the healthcare system if we do not act quickly joins the earlier downbeat comments from ECB President Christine Lagarde to keep the risks heavy.It should also be noted that the region's diplomat mentioned about the allocation of 220 million euros for the transmission of MERS-COV patients from one country to another.On the other hand, NBC News came out with the cor...
Saurabh Mukherjea pays Rs 1.38 cr to settle insider trading case with Sebi
Stock News

Saurabh Mukherjea pays Rs 1.38 cr to settle insider trading case with Sebi

Saurabh Mukherjea, former chief executive of Ambit Capital has settled a case of alleged violation of insider trading and fraudulent trade practices regulations with Securities and Exchange Board of India by paying a settlement amount of Rs 1.38 crore. Last year in May, the regulator had issued a show cause notice to Mukherjea alleging he procured price- sensitive information from the senior management of Mannapuram Finance (MFL) and communicated it through a research report before the information was made public.The regulator’s notice stated that MFL in its minutes of the board meeting held on March 13, 2013 had recorded that there was a probability that the company may have to report negative profit for the quarter ended 31st March 2013 contrary to the expectations of stakeholders. O...
How to Trade the Fisher Transform Indicator
Online Trading, Technical Analysis

How to Trade the Fisher Transform Indicator

One of the great things about trading is that everyone can have their own unique style. Even if two different trading styles conflict, it doesn’t mean that one strategy is right and one is wrong.With thousands upon thousands of stocks to choose from, there’s always an abundance of effective ways to trade.Technical analysis is often lumped together into one specific style, but not all indicators point in the same direction.We’re all familiar with commonly used technical concepts like support and resistance and moving averages, along with more refined tools like MACD and RSI.No single indicator is a golden goose for trading profits, but when used in the proper situations, you can spot opportunities before the majority of the crowd.One technical trading indicator that tends to fly u...
Up or down? These Bitcoin price levels hint at the next move from $13K
Crypto News, Technical Analysis

Up or down? These Bitcoin price levels hint at the next move from $13K

Bitcoin (BTC) price has had a tremendous month as the price rallied from $10,500 to $13,800. However, in recent days, momentum is slowing amid rising coronavirus fears. Bitcoin’s price dropped from $13,800 to $12,900 on Oct. 28, making the recent breakout a fakeout.Alongside a correction on the cryptomarkets, the equity and commodity markets also showed weakness. As the S&P retraced 4% on Wednesday, Silver also corrected 6%. The only asset doing relatively well was the U.S. Dollar Currency Index (DXY). In other words, investors are flying towards the USD for safety once again.The $13,500-14,000 area confirming resistance for BitcoinBTC/USD 2-day chart. Source: TradingViewThe 2-day chart shows an apparent resistance at the $13,500-14,000 area as a rejection is seen in this ar...
ECB: Decidedly more dovish – Rabobank
Forex

ECB: Decidedly more dovish – Rabobank

The European Central Bank (ECB) left its monetary policy unchanged as expected but mentioned it will “recalibrate” its instruments in December. According to analysts at Rabobank, the ECB is likely to extend and increase the Pandemic Emergency Purchase Programme (PEPP) in December. They warn that the success of this move will largely depend on Eurozone governments joining forces with the central bank.Key Quotes:“It does not happen often that an ECB statement starts with the observation that “risks are clearly tilted to the downside”. Normally one would expect this to be followed by an announcement of monetary easing, but the ECB stopped short of that. This has only reinforced our conviction of imminent policy action, supported by a gloomier set of economic projections in December.”“...
U.S. GDP booms at 33.1% rate in Q3, better than expected
Business news

U.S. GDP booms at 33.1% rate in Q3, better than expected

Coming off the worst quarter in history, the U.S. economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together, the Commerce Department reported Thursday.Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, according to the department's initial estimate for the period.The gain came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. The previous post-World War II record was the 16.7% burst in the first quarter of 1950.Markets reacted positively to the news, with Wall Street erasing a loss at the open and turning mostly positive. ...
Surge in coronavirus cases set to shake Asian markets
Stock News

Surge in coronavirus cases set to shake Asian markets

Asian stocks were set to join a global sell-off on Thursday as worries about surging coronavirus cases in Europe and the United States sent investors scrambling for safe-haven assets.Australia's ASX 200 fell 1.73% in early trade, while Hong Kong's Hang Seng index futures were off 0.8%.Japan's Nikkei 225 futures NKc1 were up 0.24% but down 1.23% from the underlying index's close on Wednesday.MSCI's gauge of stocks across the globe was down 2.89%.related newsSurging coronavirus cases in the United States and Europe were a growing concern as French and German leaders announced new lockdown measures to combat rising infections. Worsening matters for investor enthusiasm were dwindling hopes for any imminent U.S. economic relief package with a presidential election less than a w...
Candlestick Math – A New Way Of Using Candlesticks patterns
Forex, Videos

Candlestick Math – A New Way Of Using Candlesticks patterns

https://youtu.be/wF54OzX3ya4When two single candle lines are combined, the meaning on the chart can become much more significant. You'll get an even sharper view into the psychology of the market – and the potential for a market reversal. Blended candles go hand-in-hand with multiple time frame analysis, which is a skill you need to better identify the overall trend of the market and generate rock-solid entry and exit points.Candlestick patterns are made up of one or more candlesticks and these can be blended together to form one candlestick. This blended candlestick captures the essence of the pattern .