Wall Street soars yet again; bitcoin crashes below $10000

January 18 15:14 2018

The single biggest story of the day, outside of the price reversal (largest high-to-close move since March 2017) was the way the CBOE Volatility Index was correlated to stock prices at the open.

World stock markets advanced on Tuesday, with investors on Wall Street pushing the Dow index past the 26,000 threshold, while the USA dollar strengthened after four days of declines.

The continued strength on Wall Street partly reflected optimism about the earnings season after financial giants JPMorgan Chase (JPM), BlackRock (BLK) and Wells Fargo (WFC) all reported better than expected quarterly results.

In New York, all three major indices set records, with the blue-chip Dow Jones Industrial Average ending above 26,000 points for the first time, just eight trading sessions after breaking through the 25,000-point barrier.

The broader S&P 500 added 0.2 per cent to reach 2,783.08, while the tech-heavy Nasdaq was up 0.3 per cent at 7,243.68.

Industrials and materials were the other major laggards on the S&P, down 0.9% and 1.3%, respectively.

In Europe, the Stoxx 600 Index ended the day with a 0.1 percent advance from the previous close.

Understand that the Dow and other key stock indices aren’t going higher because the US economy is showing stellar performance.

Only two other presidents, Democrats Barack Obama and Franklin Roosevelt, saw higher gains in the broad-based S&P 500 during their first years in office. The price of one bitcoin fell 5 percent to $10,784.02 as of 0930 GMT Wednesday according to the tracking site CoinDesk.

Crude oil prices finished lower on Tuesday, 16 January 2018 at Nymex pulling back from three-year highs as traders awaited data due later this week on U. As a company has 1.90B shares outstanding and its current share price is $132.36, the market cap is $251.81B.

Golub said that while investors have had many reasons to be happy with Wall Street of late, “The risk to this is that, at some point in time, wage inflation will come around and put some cold water on the fire”. It was up 200 points in early trading Tuesday following an expected opening in the 250-point range. That, in turn, has propelled the stock market’s rise.

The Nasdaq composite gained 74 points, or 1 percent, to 7,298.

Citi gained 0.4 per cent after reporting robust quarterly earnings despite booking a US$22 billion charge tied to last month’s passage of a major United States tax overhaul.

The yield on 10-year Treasuries added less than one basis point to 2.5517 percent.

UnitedHealth rose 2.2% after the largest USA health insurer reported results that beat analysts’ estimates and raised its full-year profit forecast.

America
Dow Jones Ploughs through $26,000 Milestone at Record Pace

Wall Street soars yet again; bitcoin crashes below $10000
 
 
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