Stock Pick

  • Coronavirus latest: Tuesday, May 12

    Coronavirus latest: Tuesday, May 12Dr. Fauci testified at Congress on Tuesday to offer his opinions and reservations about the coronavirus vaccines and reopening the United States. Yahoo Finance’s Anjalee Khemlani joins The Final Round panel to break down the latest news about the coronavirus.

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  • How Technology is Changing the Way That We Invest in Cryptocurrencies

    It is only fair that cryptocurrencies that are based on the game changing blockchain technology should now be relying on even more technology to make cryptocurrency investing truly broadbased. Cryptocurrency investing is no longer restricted to knowing how to buy bitcoin as this useful article at Invezz explains. It is not a secretive and hush hush affair indulged in by a select few who understood what it means and stands for either.

    Today, it has become no different from the regular stock market investment and we have a myriad of cryptocurrency software that people have downloaded to thank for it. Besides, the very future of cryptocurrencies as a concept depends upon technological innovations that promise to make it computer crash and hacking proof. Technological upgrades are the only way that it is possible for cryptocurrency to gain widespread acceptance as part of the existing mainstream financial systems. It has to be technologically complex enough to deter hackers and frauds, yet be user friendly for widespread use.

    The blockchain technology underlying cryptocurrency has enabled it to impact a plethora of industries and organizations around the world. As more and more people from around the world want to become a part of the world of digital currencies, cryptocurrency exchanges have come up around the world to enable people to exchange their local currency for cryptocurrency.

    Technology is at the Heart of Cryptocurrency

    Cryptocurrencies are essentially virtual or digital currencies that rely on entries, made in an immutable and anonymous database secured by blockchain technology, that no one can alter. This secure database is more like a public record that can be verified through different nodes, making it impossible to counterfeit coins. Besides, one can easily trace specific transactions carried out between anonymous individual accounts.

    Cryptocurrencies provide a user friendly digital alternative to the regimented conventional currencies. While the developed world might not see much merit in this attribute of digital currencies, many parts of the world with unstable currencies, could do with the access to alternative currencies that cryptocurrencies provide. This can greatly help mitigate people’s living conditions in such nations. Countries like Venezuela and Zimbabwe easily come to mind where cryptocurrencies could actually provide some financial relief to the people of these nations.

    Influence on Global Investment

    While seamless transfer of money and dampening the impact of inflation may seem like the major impact of leveraging the blockchain technology empowering cryptocurrencies, more and more people around the world are including cryptocurrency investment as an integral part of their investment portfolio.

    The fact that cryptocurrency investments are not impacted by the vagaries of the market like, say for example gold is, makes them an effective hedge against investment risk. This is behind the emergence of many exchange traded products known as ETFs and ETNs. Though many point to the possibility of a crash, in the cryptocurrency market, having an adverse impact upon the overall financial market, the small size of the former belies such fears.

    Cryptocurrency is More Than Just Digital Cash

    Cryptocurrency has functions that extend beyond its traditional definition of being digital or virtual cash. Sure you can make payments for ecommerce and traditional transactions with cryptocurrencies like Stellar and Ripple’s XRP. But, it also possesses a store of value in the sense that it can be viewed as a novel form of native currency that is scarce in supply. The meteoric rise of Bitcoin is a prime example of this.

    What makes it better than regular money is the fact that cryptocurrency can be programmed for specific uses. Both Bitcoin Lite and LiteCoin are examples of that. For those who would like cryptocurrency to be supported by regular money there is the option of going for cryptocurrency that is plugged to the value of the U.S. dollar or gold. Paxos, TrueUSD and Dai are prime examples of this kind of cryptomoney.

    The privacy aspect of cryptocurrency makes it profoundly different from regular money. Z cash, Monero and Verge are examples of how it can provide total anonymity with regard to any transactions. Finally the fact that you own cryptocurrency digitally, redefines the very concept of how one, handles, stores and monetizes data. Golem, BAT and Sia are great examples of this dexterous ability of cryptocurrency.

    Cryptocurrencies are silently ushering in a financial revolution with far reaching consequences for our very way of life. You would do well to watch this space.

    Impact of IoT on Cryptocurrency

    The major bugbear when it comes to cryptocurrency is the apparent lack of security and the complex nature of carrying out cryptocurrency trading, putting it beyond the pale of most people. This is where IoT can help by facilitating an easy exchange of currency. One can for example calibrate cryptocurrency with the help of IoT devices, so as to enable fueling up a car petrol tank or the timely purchase of groceries for your home. There is no need for you to send across money physically, The machines that act as IoT devices will take care of all of that.

    The post How Technology is Changing the Way That We Invest in Cryptocurrencies appeared first on Wall Street Survivor.

    source https://blog.wallstreetsurvivor.com/2020/05/12/how-technology-is-changing-the-way-that-we-invest-in-cryptocurrencies/

  • U.S. Stocks Slump After Fauci, Fed Set Somber Tone: Markets Wrap

    U.S. Stocks Slump After Fauci, Fed Set Somber Tone: Markets Wrap(Bloomberg) — Stocks tumbled after a U.S. health official warned against a premature reopening of the economy and as traders assessed a dire outlook from Federal Reserve regional chiefs. Treasuries and the dollar climbed.The S&P 500 extended losses as Anthony Fauci, the nation’s top infectious disease official, said states reopening too quickly could “set you back on the road on trying to get economic recovery.” Meanwhile, some central bank officials said the virus outbreak and a partial shutdown would risk massive bankruptcies that could create a lasting scar. The Fed could curtail Wall Street banks’ ability to pay dividends by cranking up the amount of capital they need to maintain due to the coronavirus crisis, Governor Randal Quarles said Tuesday.“You will get business failures on a grand scale and you will be taking risks that you would go into depression” if shutdowns persist, Federal Reserve Bank of St. Louis President James Bullard said in a video speech from that city Tuesday. Minneapolis Fed President Neel Kashkari warned of a “gradual, muted recovery” from the outbreak, while Dallas Fed President Robert Kaplan said the economy will need more fiscal stimulus if the jobless rate continues to rise.The disastrous fallout of business closures and stay-at-home orders caused an unprecedented 20.5 million job losses in April, tripling the unemployment rate to 14.7%, the highest since the Great Depression era of the 1930s. A key measure of U.S. consumer prices declined last month by the most on record. A sustained trend of declining prices would spur worries about deflation, exacerbating concern that the recovery from the deep economic downturn will be very slow.Buyers of U.S. stocks after the economy shrank in the first quarter have history on their side, according to Keith Lerner, chief market strategist at SunTrust Private Wealth Management. Gross domestic product contracted at an annual rate of 4.8%, marking the 13th quarterly decline of more than 4% since 1949, according to data compiled by Bloomberg. After each previous instance, the S&P 500 gained more than 10% during the next 12 months.Here are some key events coming up:OPEC gives its monthly oil market report on Wednesday.U.S. weekly jobless claims data is due Thursday.China on Friday releases industrial production and retail sales data for April.These are some of the main moves in markets:StocksThe S&P 500 decreased 2.1% as of 4 p.m. New York time.The Stoxx Europe 600 Index rose 0.3%.The MSCI Asia Pacific Index dipped 0.7%.CurrenciesThe Bloomberg Dollar Spot Index rose 0.1%.The euro climbed 0.4% to $1.0849.The Japanese yen strengthened 0.4% to 107.19 per dollar.BondsThe yield on 10-year Treasuries declined five basis points to 0.66%.Germany’s 10-year yield rose one basis point to -0.51%.Britain’s 10-year yield declined two basis points to 0.249%.CommoditiesThe Bloomberg Commodity Index fell 0.4%.West Texas Intermediate crude rose 6.4% to $25.69 a barrel.Gold climbed 0.5% to $1,705.80 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Trump calls for California to let Elon Musk open Tesla plant

    Trump calls for California to let Elon Musk open Tesla plantYahoo Finance’s Emily McCormick joins Yahoo Finance’s Seana Smith to discuss President Trump tweeting earlier for California to allow Tesla CEO Elon Musk open the electric automaker factory in the state.

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  • Stock market news live updates: Stocks post worst drop in seven sessions; Grubhub spikes on takeover reports

    Stock market news live updates: Stocks post worst drop in seven sessions; Grubhub spikes on takeover reportsStocks erased earlier gains and traded lower Tuesday, as investors continued to eye states’ reopening plans and mulled recent corporate earnings results. Market participants also eyed the start of the Federal Reserve’s program to purchase corporate debt exchange-traded funds, which kicks off Tuesday.

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  • Fed begins purchasing corporate-bond ETFs

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  • Is Applied Materials, Inc. (NASDAQ:AMAT) Potentially Undervalued?

    Is Applied Materials, Inc. (NASDAQ:AMAT) Potentially Undervalued?Today we're going to take a look at the well-established Applied Materials, Inc. (NASDAQ:AMAT). The company's stock…

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  • High-yield savings banks finally hit by the Fed’s coronavirus rate cut

    High-yield savings banks finally hit by the Fed's coronavirus rate cutGoldman Sachs's Marcus, CIT, Citibank, Ally, and many more popular online savings banks have lowered their rates, responding to the Fed's historic rate cut in March.

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  • Citron Research Accuses Peloton Stock Of Peddling Its Way To Stupidity

    Citron Research Accuses Peloton Stock Of Peddling Its Way To StupidityShares in home-fitness cycling company Peloton Interactive (PTON) have surged 10% in trading on May 12, bringing the stock’s year-to-date gain to over 65%. That’s after the company informed investors that it surpassed 1 million aggregate Connected Fitness subscribers.And now Andrew Left of Citron Research argues that enough is enough and investors should put Peloton into perspective: “This is retail mania – you can love the product, but stock has peddled its way to stupidity” tweeted the well-known activist short seller on May 12.As Left points out Peloton’s market cap has surged $5B this year; and with 300K connected subscribers that translates to $17K per subscriber.In contrast, the 2020 market cap for Teladoc (TDOC\- the telemedicine and virtual healthcare company) is up $8B vs. paid members up 6.2 million or $1300 per subscribers, Left tweeted.Nonetheless, five-star Stifel Nicolaus analyst Scott Devitt at Stifel Nicolaus has just raised his price target to $50 from $42, indicating 6% upside potential lies ahead. He also reiterated his Peloton buy rating.“Elevated demand for the company’s products has continued thus far into F4Q, with demand outpacing supply in most geographies,” Devitt explained, describing Peloton as “an unstoppable juggernaut to be stopped only by way of self-inflicted wound from here”.Indeed Wall Street analysts have an uniformly bullish outlook on Peloton stock. The Strong Buy consensus is due to 18 Buys ratings, vs just 1 Hold and 1 Sell.However, due to the recent rally, the $46.65 average price target now indicates that shares could pull back 1% from current levels- suggesting that, in this case, Left could be right. (See Peloton stock analysis on TipRanks).Related News: Peloton Shares Increase on 1 Million Fitness Subscriber Milestone Tesla’s Elon Musk to Reopen California Plant Despite Coronavirus Restrictions Microsoft to Splash $1.5 Billion on Italy’s Cloud Business Transformation More recent articles from Smarter Analyst: * Moderna’s Covid-19 Vaccine Candidate Gets FDA Fast Track Status * Hyatt Hotels Lays Off 1,300 Workers as Virus Pandemic Freezes Travel Demand * 2 Cruise Line Stocks to Bet on After the Coronavirus Crisis (And 1 to Avoid) * Peloton Shares Increase on 1 Million Fitness Subscriber Milestone

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  • The U.S. may be undercounting COVID-19 cases by a massive margin: Goldman

    The U.S. may be undercounting COVID-19 cases by a massive margin: GoldmanYahoo Finance’s Ethan Wolff-Mann joins Seana Smith to explain why Goldman Sachs is warning the U.S. may be undercounting coronavirus cases by a massive margin, after the crushing jobs numbers last Friday pointed to 20.5 million fewer payrolls in April compared to March.

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