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from the how-are-they-doing-over-the-entire-year? dept.
"The Dow rose more than 1,080 points, or nearly five percent, marking the first time in history the exchange rose more than 1,000 points in a single day of trading. The S&P 500 climbed more than 100 points, or about five percent, while the tech-heavy Nasdaq Composite rose more than 360 points, or nearly six percent.
All three major exchanges posted their largest single-day point increase on record." foxbusiness.com/markets/stock-futures-trade-cautiously-on-political-concerns
Our Country is doing very well. Because we are finally putting America First.
A report at Bloomberg offers a less rosy perspective:
Just one of the S&P 500 members fell on Wednesday, when the Dow Jones Industrial Average jumped more than 1,050 points for its biggest-ever point gain. Consumer shares paced the rally, with Amazon.com Inc. jumping 9.5 percent on record holiday sales. Each member of the FAANG[*] cohort rallied at least 6.4 percent. Nike and Apple rose more than 7 percent.
Yet it's still a horrible month for U.S. stocks, with the S&P 500 down almost 11 percent. Japan's Topix is even worse, with a 14 percent slide. Emerging markets have done better, thanks to expectations of less aggressive tightening by the Fed. The Shanghai Composite is off less than 4 percent, for example. And China's yuan, along with most major Asian currencies, is up against the dollar this month.
[*] FAANG: "FAANG is an acronym for the market's five most popular and best-performing tech stocks, namely Facebook, Apple, Amazon, Netflix and Alphabet's Google."
(Score: 1, Interesting) by Anonymous Coward on Thursday December 27 2018, @12:13PM (4 children)
Most people would prefer gold but its too difficult to transfer online. Bitcoin is the solution. Major brokerages and exchanges in the US (fidelity/nasdaq) are working on adding bitcoin/fiat trading already. Once that is in place why not let people trade directly to stocks? Make crypto-dollar-stock transparent to the user...
https://www.ccn.com/breaking-fidelity-is-quietly-building-a-cryptocurrency-exchange/ [ccn.com]
https://www.nasdaq.com/article/fidelity-nasdaq-ventures-invest-in-cryptocurrency-exchange-erisx-20181204-00506 [nasdaq.com]
So Id even say my assessment about that happening was too pessimistic.
(Score: 2) by zocalo on Thursday December 27 2018, @12:25PM (3 children)
Some are, others have cooled on the idea, and time will tell how many actually deliver. Either way, they're not doing this because they love Bitcoin and want it to go to the moon, they're going it because when it comes to skimming off transaction fees volatility is good and BTC has that in spades. Just like they don't give a damn what the value of any given stock is, they don't give a damn what the value of BTC is either; as long as there is a high volume of trades for the resulting tranaction fees to make a decent profit, they're happy - and you can pretty much guarantee that those transaction fees will be collected in USD.
UNIX? They're not even circumcised! Savages!
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @12:36PM
Not that it matters (they are doing it to make money), but fidelity's CEO explicitly said she loves bitcoin:
https://www.coindesk.com/fidelity-ceo-talks-love-bitcoin-blockchain-will-change-markets [coindesk.com]
https://cointelegraph.com/news/i-love-bitcoin-ethereum-says-fidelity-ceo-as-company-finalizes-coinbase-integration [cointelegraph.com]
So, I think people here are out of touch regarding whats happening in this scene. There is still tons of unrealized potential and excitement.
(Score: 0) by Anonymous Coward on Friday December 28 2018, @04:11AM (1 child)
If you think Bitcoin is in trouble now, just wait until Wall Street gets in on the game.
The big movers (or whales, or whatever they call) would be smart to get out of Bitcoin as soon as the pros get in.
(Score: 0) by Anonymous Coward on Friday December 28 2018, @03:17PM
Why is that?