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What Fed chief Powell said about crypto that may have aided bitcoin’s rally to $100,000
Powell said bitcoin is not a challenge for traditional currencies such as the U.S. dollar but rather for gold.
Remembering Art Cashin’s most valuable stock market lessons – and the stories behind them
Art Cashin was a great historian of the stock market, and he shared his teachings through stories.
Tech stocks hit first all-time high since July
Technology stocks powered to new highs on Wednesday as the tech-heavy Nasdaq Composite rallied 1% and investors poured into key software and megacap players.
Far from a bazooka, China’s stimulus measures are just trickling through the economy
China’s latest efforts to kickstart growth will take time to play out, data and company earnings show.
More employers add 401(k) plan match for workers paying student loans
The share of businesses choosing to offer a 401(k) plan match based on student loan payments is slowly increasing due to a law known as Secure 2.0.
Powell says he’s not worried about the Fed losing its independence under Trump
Federal Reserve Chair Jerome Powell spoke Wednesday at the New York Times DealBook conference.
Watch live: Fed Chair Jerome Powell discusses central bank independence, crypto at Dealbook conference
The appearances comes two weeks ahead of when the central bank will announce is decision on interest rates.
Shares of American Eagle plunge 13% as company issues weak holiday guidance
American Eagle issued weak holiday guidance after reporting its third sales miss in a row.
Sell the fact play strikes oil on OPEC+ decision
There was a brief spike above $69 in anticipation of the decision but that has quickly turned with oil prices now falling to the lows for the day. OPEC+ decided to extend their planned output hike by another three months to April, as expected. Oil failed to sustain bids in trading yesterday and it might just be a repeat episode again today. As mentioned earlier:
„It feels like if all of this is not enough to get oil back above $70, there could be more pain to come to start the new year with a narrowing flag pattern forming in recent months.“
Looking at the daily chart, we might be poised for a downside breakout as price action narrows in this coiled region:
This article was written by Justin Low at www.forexlive.com.