15.00k followers • 14 symbols Watchlist by Yahoo Finance
This list will track the publicly traded companies that are making bets, big and small, on cryptocurrencies like bitcoin and ether. Yahoo Finance will update this list as new companies enter the crypto space.
From posting on social media to calling an Uber, mobile devices are becoming the command center for guiding day-to-day activities. Financial institutions want to get in on the action as well according to an industry insider.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Global bonds rallied anew Monday with 10-year Treasury yields sinking to a three-year low as an expanding U.S.-China trade war roiled global markets.Benchmark U.S. yields dropped below 1.5% to their lowest since Aug. 2016, while those in Japan, Australia and New Zealand fell amid concerns that a bruising trade war will hamper global growth. Traders sought haven assets after the latest exchange of tariffs between the world’s two biggest economies.With the rift growing, overnight index swaps are pricing in almost three rate cuts by the Federal Reserve by the end of the year, as Chairman Jerome Powell warned Friday that the U.S. economy faces “significant risks.” After slapping higher tariffs on Chinese goods, President Donald Trump has threatened to order American companies to leave China.“Now there’s no limit to the worst-case scenario for the trade war,” said Kei Yamazaki, a fund manager at Sumitomo Mitsui DS Asset Management in Tokyo. “While fundamentals argue for a drop in U.S. 10-year yields to around 1.25%, possible fiscal stimulus from major economies could see a rebound in yields.”In an escalation on Friday, China threatened to impose additional tariffs on $75 billion of American goods including soybeans, automobiles and oil. That prompted Trump to say he’ll hike existing duties on about $250 billion in Chinese goods, while a new round of tariffs on $300 billion of goods will be taxed at 15%, up from 10%.Monday PanicAs markets reopened Monday in Asia, investors quickly piled into haven assets. Treasury 10-year yields dropped as much as 7 basis points to 1.4695%, while the benchmark in Australia tumbled by as much as 12 basis points to 0.855%, just above a record low. Japan’s 10-year yields slipped 2.5 basis points to minus 0.265%.China on Monday sought to limit the damage, with Caixin reporting that Vice Premier Liu He said the two sides should seek to resolve the dispute through talks. “Escalation of the trade war could extend the bond rally further, with increased probability that U.S. 10s revisit all-time yield lows set in 2016,” - at 1.318%, wrote a team of strategists at Goldman Sachs Group Inc. including Praveen Korapaty. “Cross-border flows into U.S. dollar fixed income, driven by a surge in negative yielding debt, may not moderate without broad improvement in data.”Globally, the pile of negative-yielding debt has surged to roughly $16 trillion as major central banks increasingly turn dovish amid slowing growth. Treasuries have gained 8.4%, leaving them on track for their best annual performance since 2011, according to the Bloomberg Barclays U.S. Treasury Index.Trump’s renewed criticism of Powell on Friday, coupled with his call to U.S. companies operating in China to consider leaving, pummeled markets going into the weekend. This backdrop also sent a key slice of the yield curve, which is closely watched as a gauge of an impending recession, further into inversion as traders’ viewed the growth outlook as more dire and ramp up bets the Fed cuts.The gap between three-month rates and yields on 10-year Treasury notes fell Monday to a low of minus 51 basis points, the most inverted since March 2007.“The market expects substantial rate cuts but the Fed isn’t moving along that line,” said Naokazu Koshimizu, senior rates strategist at Nomura Securities Co. in Tokyo. “Short-dated yields are struggling to fall even amid concern over a deterioration in the U.S. economy, leaving the yield curve prone to inversion.”Seeking ShelterWhile investors sought shelter in major debt markets, they dumped EM currencies and bonds. The 10-year bond yields in Indonesia, often seen as a barometer of risk appetite, gained 7 basis points. Offshore China yuan dropped to a record low, leading declines in other Asian peers.The dollar-yen dropped through its flash-crash low in January, before rebounding as the session progressed. Sentiment improved after comments from China’s Liu. “The trade war between the U.S. and China is now escalating at a bewildering pace, which is likely to trigger further market volatility and expectations of ever more aggressive monetary easing from the Federal Reserve,” said Patrick Wacker, a fund manager for emerging-market fixed income at UOB Asset Management Ltd. in Singapore. \--With assistance from Filipe Pacheco and Stephen Spratt.To contact the reporters on this story: Masaki Kondo in Singapore at firstname.lastname@example.org;Liz Capo McCormick in New York at email@example.com;Netty Ismail in Dubai at firstname.lastname@example.orgTo contact the editors responsible for this story: Jenny Paris at email@example.com, Tan Hwee Ann, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
PayPal takes on India’s digital payments market as it looks to international markets for growth. India presents a $1.0 trillion opportunity for the company.
AMD stock hit a new 13-year high after the EPYC Rome server CPU launched. How can AMD outperform Intel CPUs at such low prices and still profit?
As bond yields slip, we searched using the Zacks Stock Screener for large-cap technology firms that also pay a dividend. Here are 3 of the strong tech stocks that came through our screen this morning...
(Bloomberg Opinion) -- It’s kinda, sorta funny, I suppose, that Patrick Byrne resigned Thursday as chief executive of Overstock.com Inc. a week after issuing a bizarre press release bragging about his romantic entanglement with a Russian spy while also being involved with the “deep state” and the “Men in Black.” Just as it’s kinda, sorta funny that President Donald Trump canceled a state visit to Denmark because its prime minister told him she wouldn’t discuss his “absurd” idea of selling Greenland to the U.S.Except that Byrne (like Trump) has been prone to saying and doing unhinged things since at least the mid-2000s. What’s more, as Bloomberg Opinion’s Barry Ritholtz pointed out Thursday on Twitter, “He was a terrible CEO of a not very good company.”I began paying attention to Byrne in 2005, six years after he took over an online retailer and renamed it Overstock. That year, he held the looniest conference call I’ve ever heard. He claimed that there was a vast conspiracy to drive down Overstock’s shares orchestrated by someone he called the “Sith Lord.” He wouldn’t name the Sith Lord, but described him as “one of the master criminals of the 1980s.” He titled the conspiracy “the Miscreants Ball.”(1)At the same time — and this is what caught my attention — Overstock filed a lawsuit against Gradient Analytics, a research firm, and Rocker Partners, a hedge fund run by David Rocker and Marc Cohodes — yes, the very same Marc Cohodes who was the subject of my columns this week about MiMedx Group Inc. — that specialized in short-selling. Byrne claimed in the lawsuit (as I wrote at the time) “that they were acting in concert to hurt the company and manipulate its stock price.”It wasn’t long before Byrne was including certain financial journalists in the conspiracy. When a television interviewer asked him if he was accusing Herb Greenberg,(2) the great former MarketWatch reporter, of “helping others front-run” the company’s stock, he replied, “That’s correct.” His “thesis” was that Greenberg was taking orders from Rocker.That wasn’t the worst of it. Byrne became convinced that an illegal practice called “naked short-selling”(3) was Wall Street’s dirty little secret, and he devoted himself to rooting it out and exposing it. (Barron’s once described naked short-selling, rather aptly, as “the grassy knoll of the equity markets, denounced by crackpots, devotees of penny stocks, and troubled companies eager to divert attention from their failings.”)Overstock’s director of communications, Judd Bagley, would “friend” Byrne’s critics on Facebook, then publish the names of their friends on a website, especially those friends who could serve as “evidence” of a conspiracy. (I’m one of the journalists this happened to.) Byrne started a conspiracy-minded website called Deep Capture, the purpose of which was to smear his critics, myself included.If the purpose of all this was to silence us, it worked. I wrote three columns about Byrne, and then moved on. So did most of the other journalists who had once covered him and Overstock. Rocker, the rare short-seller willing to talk to reporters on the record, stopped giving interviews. The journalist (and my friend and former co-author) Bethany McLean once told an interviewer that in effect, Byrne had won, because his tactics had caused his critics to stop writing about him.Since his Deep Capture days, Byrne has found a different means to distract people from Overstock’s lousy performance: In 2015, he announced the formation of a company that would issue a cryptocurrency called tZero. For a while, at least, it worked. Between July 2017 and January 2018, the Overstock share price went from around $20 to almost $87. But it couldn’t last. With the company’s free cash flow negative $168 million in 2018, and its net income negative $169 million,(4) the stock sank back down to earth, bottoming out at $9.40 a share in June.Yet when he finally stepped down, it wasn’t because the company was losing money, or because the tZero effort was faltering, or because, as usual, Byrne was too busy with his side ventures to focus on the company he was supposed to be running. It was because he wrote a bonkers press release.On Thursday evening, Byrne was interviewed by CNN’s Chris Cuomo. Byrne claimed that FBI agents — including James Comey! — had instructed him to “rekindle” his relationship with the Russian spy, Maria Butina. Later that evening, as Cuomo discussed the interview with another CNN host, Don Lemon, he defended Byrne. “He’s not some lunatic or something like that,” he said.Clearly, Cuomo should have had a seat on the Overstock board.(1) Byrne later told me that his Sith Lord conference call was “one of the 10 proudest moments of my life.”(2) Alas, Greenberg has since left financial journalism and now runs his own investment research firm, Pacific Square Research.(3) Don’t ask.(4) According to Bloomberg data.To contact the author of this story: Joe Nocera at firstname.lastname@example.orgTo contact the editor responsible for this story: Stacey Shick at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
On August 22, NVIDIA stock closed at $171.48, which was 0.15% higher than its previous closing price and 41.4% lower than its 52-week high of $292.76.