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Bitcoin rockets above $18k

MARKETS
News
• Bitcoin crossed the $18,000 mark overnight. Asia-Pacific markets were mixed in early Wednesday trade. Meanwhile, the U.S. dollar continued its slide;
• Ant Group is still capable of clinching the world’s largest IPO — even as Chinese regulatory hurdles weigh heavily on the financial technology giant, says one of the country’s major investors;
• China de-dollarization accelerates as U.S Treasury holdings near 4-Year lows;
• Japan reported its exports in October did much better than expected, falling 0.2% as compared to a 4.5% decline forecast in a Reuters poll;
• Bill Gates says more than 50% of business travel will disappear in post-coronavirus world;
• Coronavirus latest: China’s Sinovac vaccine triggers ‘quick’ antibody response, study shows;
• UK Prime Minister Boris Johnson wants a Green Industrial Revolution that bans new petrol cars, adds jobs.
What else?
• Europe’s economic recovery will be three times faster than after 2008 crash, Morgan Stanley says;
• SoftBank CEO warns Of "Lehman-Like-Crisis" that could crash Global Economy;
• Amazon launches online pharmacy in challenge to traditional retailers. The news triggered a sharp sell-off in drug stores shares. Walgreen dropped 9.6% and CVS lost 8.6%;
• Robinhood soliciting advisors for potential IPO early next year;
• "People Are Afraid" - 300,000 New Yorkers flee City due to COVID-19;
• BA to launch coronavirus tests on some transatlantic flights.

The Day Ahead
• Earnings: NVIDIA, Lowe's, Target, TJX, A.P. Moeller-Maersk A-S, Clorox, Gazprom, Western Digital, Metro, News Corp;
• Macro: U.K. CPI, Eurozone CPI, U.S. Building Permits, U.S. Housing Starts.

Quote of the day
"To steal ideas from one person is plagiarism; to steal from many is research.” – Steven Wright

WRAP
Markets
U.S. stocks fell on Tuesday as the market’s recent rally cooled off amid a sharp decline in drug store shares and disappointing economic data. The Dow Jones dropped 0.6% while the Nasdaq Composite fell 0.2%. The pan-European Stoxx 600 closed down by around 0.2%, with travel stocks shedding 1.1% to lead the losses. Oil prices were little changed on Tuesday as worries that lockdowns to fight a new surge in coronavirus cases could hit short-term demand counteracted hopes for a vaccine and the possibility of tighter OPEC+ supply policies. The price of bitcoin was up over 4% in the last 24 hours, trading at over $17,000 and hitting its highest point since Jan. 7, 2018.
Macro
The U.S Commerce Department said Tuesday that retail sales rose 0.3% last month, missing economists’ forecast for a 0.5% rise. The retail sales control group – which has a larger impact on U.S. GDP – climbed 0.1%, well short of expectations for a 0.5% increase.

 

 

27-11-2020

Thanksgiving crypto carnage
Bitcoin alongside other major cryptocurrencies dived double digits in a huge Thanksgiving sell-off after coming close to the record high set in December 2017 MARKETSNews• Asia-Pacific markets are little changed this morning. Bitcoin and altcoins are stable fol… Read more

26-11-2020

Global stocks set for best month EVER
MARKETSNews• Stocks in Asia-Pacific struggled for direction in Thursday trade as investors reacted to minutes released overnight from the U.S. Federal Reserve’s November meeting; • The Fed weighed adjusting bond purchases to provide more help to economy ‘fairl… Read more

25-11-2020

Dow hits 30k for the 1st time
The Dow Jones Industrial Average, America's oldest equity benchmark has closed above 30,000 for the first time on record. MARKETSNews• Japan’s Nikkei is up nearly 2% as Asia-Pacific shares mostly rise after Dow surges to a new record;• Airlines and cruise stoc… Read more

24-11-2020

Gold drops to 4-month low
Higher real interest rates thanks to positive covid-19 vaccine news caused gold to drop below key support at $1850 per oz to a new 4-month low. MARKETSNews• Trump administration officially begins transition to Biden: General Services Administration chief Emily… Read more

23-11-2020

Ethereum surges over $500
News• Stocks in Asia-Pacific edge higher while airline shares in Hong Kong and Singapore decline after an anticipated air travel bubble between the two cities was delayed due to rising Covid-19 cases in Hong Kong;• Beijing warns of crackdown on misconduct afte… Read more

20-11-2020

Energy stocks having best Q4 in 30 years
MARKETS News• Asia-Pacific markets traded mixed on Friday as investors remained cautious over the short-term economic impact of the coronavirus as cases around the world continue to rise. Dow futures fall more than 200 points as fresh virus restrictions raise… Read more

19-11-2020

Stocks pullback after NYC schools closure
News• Asia-Pacific markets fell on Thursday as traders grappled with optimism around a potential coronavirus vaccine and economic worries;• Deutsche Bank: "There is increasing demand to use Bitcoin where Gold was used to hedge dollar risk and inflation";• Tesl… Read more

18-11-2020

Bitcoin rockets above $18k
MARKETSNews• Bitcoin crossed the $18,000 mark overnight. Asia-Pacific markets were mixed in early Wednesday trade. Meanwhile, the U.S. dollar continued its slide;• Ant Group is still capable of clinching the world’s largest IPO — even as Chinese regulatory hur… Read more