The Bitcoin rally is accelerating. The digital currency spiked through $11,000 Wednesday morning, hours after surpassing the $10,000 level for the first time. Bitcoin traded at an all-time high of $11,155.20 at around 9:00 a.m. ET, according to industry site CoinDesk. By 9:16 a.m., bitcoin had leaped all the way to $11,377.33, according to CoinDesk. […]
Read moreSnapchat’s newly redesigned app is separating the social from the media, creating two distinct content pages, the company said Wednesday. The redesigned app will separate the news-heavy Discover page from a user’s friend list. On the current version of the app the two are intermingled on a single screen. CEO Evan Spiegel teased the redesign […]
Read more
Shares of Allergan jumped more than 2 percent Wednesday after analysts at Morgan Stanley downplayed concern over competitive pressure for its key product, Botox. “Fears about a ‘better Botox’ may be overdone,” said analyst David Risinger in a note to clients. He noted that it “could be difficult” for competitor Revance Therapeutics to show that […]
Read moreCurrency, United States Finance
Investors flocking into bitcoin are taking a risk by buying at such high prices, the vice president of the European Central Bank (ECB) Vitor Constancio told CNBC Wednesday. “It’s a very particular asset, it’s a speculative asset by definition looking to the developments in its price. Investors are taking that risk of buying at such […]
Read moreFacebook should be able to drive advertising prices higher to help offset a deceleration in ad impressions, according to Barclays. Instagram and Facebook Messenger – two apps owned by Facebook – could also provide a boost to additional impression growth, according to analyst Ross Sandler, who reiterated his buy rating. “Facebook is the best pure […]
Read moreGold’s trading activity has been unusually calm this year, but that may be about to change. Metals expert Michael Dudas of Vertical Research sees volatility slithering back into the “eerily quiet” gold market — with a “breakout” potentially in the cards as the December Federal Reserve meeting approaches and as lawmakers battle over the tax […]
Read moreBitcoin is essentially “digital gold” for millennials, and the cryptocurrency could easily achieve the $100,000 range, Wall Street strategist Tom Lee told CNBC on Wednesday. The digital currency surpassed $10,000 on Tuesday and was approaching $11,000 Wednesday morning, according to industry site CoinDesk. It marked an exponential ascent from 6 cents seven years ago and […]
Read moreCurrency, United States Finance
Sterling is expected to strengthen in the coming days ahead of a crucial European Summit where an important milestone for Brexit negotiations is set to be reached. “You’d get a big move into the pound, if there’s agreement to move to trade (negotiations),” Stephen Isaacs, chairman of the investment committee at Alvine Capital, told CNBC […]
Read moreCheck out which companies are making headlines before the bell: Tiffany — The luxury goods retailer reported a third-quarter profit of 80 cents per share, 4 cents a share above estimates. Revenue also beat forecasts, and an unchanged performance for comparable-store sales was better than the 0.2 percent decline that analysts had anticipated. Results were […]
Read moreFederal Reserve Chair Janet Yellen is set to testify on the economy before the Joint Economic Committee on Wednesday, and foreign exchange strategists are watching her remarks for their implications across asset classes. Boris Schlossberg of BK Asset Management believes that even though Yellen’s tenure as chair is coming to a close, her testimony on […]
Read more