Author: FX
Reuters have the report.A former chief financial officer of multiple special purpose acquisition companies (SPACs) has pleaded guilty to embezzling more than $5 million from them, and losing almost all of it trading meme stocks and cryptocurrencies. Cooper Morgenthau pleaded guilty to one count of wire fraudfaces a possible prison sentence of about six to 7-1/4 yearsMost of his losses, says the story, came from crypto trading, although he managed to lose a chunk of cash the good old-fashioned way, by trading stocks. —-Speaking of crypto, Bitcoin update. Very stable!ADVERTISEMENT – CONTINUE READING BELOW Source link
S&P 500 Talking Points:The S&P 500 futures contract set its current all-time-high a year ago, on January 4th.While the Fed started to open the door to rate hikes in September of 2021, the Nasdaq topped in November of that year but the S&P continued to drive-higher until the calendar turned into 2022. Last year saw the Fed get much more hawkish throughout the year and this sunk stocks in waves and phases, with a net move of approximately 20%.The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check…
MFS Intermediate Income Trust declares $0.0214 dividend Source link
© Reuters. 2022 saw the fall of many linchpin crypto and blockchain firms as the May market drawdown shook the industry. It caused many cryptocurrencies to lose value and many investors to pull their money from the market. Furthermore, the unprecedented knock-on effects of the meltdown exposed many blockchain and cryptocurrency firms that were ill-prepared for turbulent times. However, a collective of companies was able to resist negative market forces and grow amidst the turbulence. The crypto market as a whole continues to grow and has now reached 320 million users. Click “Collect” below the illustration at the top of…
US Dollar remains bid even though data showed Manufacturing PMI continues to decelerate. The Euro extends its losses spurred by Germany’s inflation edging down. The US Dollar Index recovered and reached fresh two-week highs, albeit US Treasury yields dropped. EUR/USD Price Analysis: Neutral biased, likely to find direction on fundamental news. The Euro (EUR) plunges against the US Dollar (USD) during the North American session after hitting a daily high of 1.0683, but it has trimmed some of its earlier losses after reaching a six-week low at around 1.0519. Data released in the United States (US) and the Euro area…
Western Texas Intermediate erases last Friday’s gains, tumbles more than 3%. Technical factors and China’s Covid-19 crisis increased traders’ worries about diminishing oil demand. WTI Price Analysis: A daily close below the 20-DMA to pave the way towards $75.00. Western Texas Intermediate (WTI), the US crude oil benchmark tanks more than 3% on Tuesday, due to increased concerns of diminishing demand from China, as the country battles spurring Covid-19 cases amidst increasing worries for a worldwide recession. At the time of writing, WTI is trading at $77.78 per barrel, below its opening price, after reaching a high of $81.44. WTI…
Invesco California Value Municipal Income Trust declares $0.0364 dividend Source link
© Reuters. FILE PHOTO: Security workers and Pennsylvania State Agents stand guard at the gate of the private Indian Mountain Lake community after Pennsylvania State Police took into custody Bryan Kohberger, a 28-year-old suspect wanted in the killings of four Univer (Reuters) -The doctoral student accused in the November stabbing deaths of four University of Idaho students is scheduled to appear on Tuesday in a Pennsylvania court, where he is expected not to fight his extradition to Idaho to face murder charges. Bryan Kohberger, 28, has been jailed since he was taken into custody last Thursday in Monroe County in…
Kiwi trims losses versus US Dollar as DXY retreats. Wall Street turns negative after first minutes of trading. NZD/USD off lows, moving without clear direction. The NZD/USD rebounded after hitting the lowest level since late November at 0.6199, climbing to 0.6285. The rebound lost strength as US markets turned negative after the initial half-hour of regular trading on Wall Street. The Kiwi is still in negative for the day versus the Dollar, down 50 pips. The NZD/USD is attempting to recover 0.6250/60, a key technical level. If it is unable to do, the bearish pressure could return. Support levels are…
DAX 40, FTSE 100, Dow Jones Talking Points: Recommended by Tammy Da Costa Get Your Free Equities Forecast Dax, FTSE Trade Higher While Dow Jones Futures LagGlobal stock indices have entered the new year on a positive note with Dax and FTSE trading higher. With the first trading session well underway, China’s reopening and expectations of a ‘mild’ recession have encouraged recent gains.While Europe, United States and the United Kingdom continue to grapple with the winter cold, rising demand for energy could place additional pressure on growth prospects for 2023.However, with the recent German inflation report showing positive signs of…