Category: News
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Bitcoin Kicks Off 2023 on Positive Note, Surges Above $23K
Bitcoin (BTC) kicked off the year 2023 on a positive note, with investors hoping for a reversal in the monetary tightening that spooked market players last year.[0] The price of Bitcoin is currently trading at $23,044 at the time of writing, a fractional gain during the last 24 hours.[1] Digital assets saw a surge on…
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Investing in the Nasdaq Composite: Take Advantage of Discounted Prices and Look for Stocks That Could Double Your Money by 2025
The Nasdaq Composite has been mired in bear market territory since late 2021, down 31% from its peak.[0] But despite the massive downturn, many investors see this as a unique opportunity to scoop up high-quality stocks at a discount.[1] With the Federal Reserve slowing the pace of rate hikes this year and possibly beginning rate…
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Indian Stock Markets Witness Sell-Off; UN Cuts GDP Growth Forecast; US Economy Expands
On Friday, the Indian stock markets witnessed a massive sell-off, with the BSE Sensex tanking 874.16 points or 1.45 per cent, its biggest single day slide in more than a month, to settle at 59,330.90. The broader NSE Nifty fell 287.60 points or 1.61 percent to close at 17,604.35.[0] Foreign Institutional Investors (FIIs) were net…
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U.S. Stocks Lower on Intel Earnings, Fed Meeting Next Week
U.S. stocks traded lower Friday morning, with tech leading declines, as investors anticipate a grim quarterly update from Intel (INTC).[0] The ailing chip giant is expected to report weak results, potentially clipping near-term earnings. The central bank is set to meet next week, and is expected to debate how much further they need to go…
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Adani Group Accused of “Brazen Stock Manipulation and Accounting Fraud” by Investment Research Firm
On Tuesday late evening, Hindenburg Research published an investigation on Adani’s conglomerate, accusing it of “brazen stock manipulation and accounting fraud scheme over the course of decades.” The US-based investment research firm, known for its activist short-selling, revealed that it had taken a short position in Adani Group companies, meaning it would benefit from a…
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Intel Reports Poor Q4 Results, Expects Further Declines in Revenue and Net Losses
Intel’s financials for the fourth quarter of 2022 have been released, and the results are not good. Revenue totaled $14.0B, a major 32% decline from the year-ago quarter, and Intel reported a net loss of $661M for the quarter, a 114% decline in net income. This was lower than the low end of their already…
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Inflation Slowing, Consumer Spending Down: Fed Raises Interest Rates
The Federal Reserve’s preferred measure of inflation for the U.S. cooled again in December, according to the Commerce Department’s Personal Consumption Expenditures (PCE) price index report released Friday.[0] Core PCE, which strips out the more volatile food and energy categories, increased by 4.4% annually, down from November’s annual rate of 4.7%.[1] Monthly, it increased by…
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Rental Market in Canada Sees Record Price Increases in 2022
The Canada Mortgage and Housing Corporation’s (CMHC) Rental Market Report released on Thursday revealed that rent prices in Canada grew at a record pace in 2022, with the national vacancy rate for purpose-built apartments falling to 1.9 per cent – the lowest since 2001.[0] The average rent for a two-bedroom apartment increased 5.6 per cent…
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US Economy Starts 2023 with Stagflationary Flavor: What Does This Mean for Gold and Silver?
The US economy has started the year 2023 on a disappointing note, with business activity in both the manufacturing and services sectors contracting sharply in January.[0] Despite economic data released this past week showing that consumer demand was falling and wholesale prices were cooling, the Federal Reserve’s policy tightening efforts appear to be working.[1] In…
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Investor Digest: U.S. Stocks Open Lower as Inflation Slows, Visa, Hasbro, American Express, and 3M Report Earnings
U.S. stocks opened mostly lower on Friday, as investors digested data from the Federal Reserve’s preferred gauge showing signs of inflation slowing while personal spending last month fell.[0] The Dow Jones Industrial Average shed 0.3%, according to FactSet data, at last check. On Friday, the Bureau of Economic Analysis revealed that the personal-consumption-expenditures index went…