Stock Market at Its Worst Levels Since 1970

Stocks fell on Thursday, as the S&P 500 caps off its worst first half in more than 50 years.

The Dow Jones Industrial Average shed 249 points, or 0.8%. The S&P 500 slid 0.7%, and the Nasdaq Composite pulled back by 1%.

Cruise stocks continued to drag and led the market lower, after Morgan Stanley cut its price target on Carnival roughly in half Wednesday and said it could potentially go to zero. Carnival shares were down 5% Thursday along with Royal Caribbean. Norwegian Cruise Line fell 6%.

Home retail stocks were down too. High-end furniture chain RH saw shares drop about 9% after it issued a profit warning for the full year. Wayfair and Williams-Sonoma followed lower by 5% and 3%, respectively.

“The combination of slowing growth, fading EPS prospects, and ongoing monetary tightening has been weighing on equity sentiment for months and is causing consternation again this morning,” wrote Adam Crisafulli of Vital Knowledge.

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Source: CNBC

Global Coin Review: The go-to reliable Broker for most traders?

Global Coin Review: The go-to reliable Broker for most traders?

You’ll have to choose a trustworthy broker when you’re just getting started as a trader. Instead of being swayed by false promises, the best way to make an informed selection is to thoroughly study the broker and evaluate a variety of factors. One of the brokers you’ll encounter is Global Coin. Global Coin is a licensed CFD broker that provides CFDs, Forex, and cryptocurrency trading assets.

This implies that the broker is reliable, allowing you to trade with confidence. We’ll go over all of the features of Global Coin as well as the services that it offers as an online trading platform.

What is Global Coin?

Global Coin is a CFD-focused brokerage platform that offers greater tools for online trading. Among many other investment vehicles, you can trade forex, stocks, cryptocurrencies, commodities, and indices.

This platform is quite easy to use and understand. You may quickly choose the assets you wish to trade and then create a short or long position.

Global Coin Security

Global Coin’s platform is highly protected and regulated by a variety of international regulatory agencies. Customers’ funds are stored in a separate account, meaning they aren’t mixed in with the company’s operating cash. Because of Global Coin, traders may trade with complete confidence. Global Coin does not disclose customer data to a third party.

Global Coin Trading platform

The site is nicely-designed, featuring all of the required elements as well as some extras like an economic calendar and breaking headlines. The economic calendar is essential for Forex trading since it lists all of the macroeconomic data releases that may have an influence on currency values, as well as analyst forecasts.

Training and Education

On the Global Coin website, there is a page dedicated to education in which you can find a beginner’s guide and useful information for those who are just starting with trading.

Thus, according to Global Coin, the goal of brokers is to assist traders in honing their skills and trading tactics so that they can be lucrative over time. Global Coin offers a comprehensive training program that includes video courses and guides, live market analysis, online webinars, and networking with other traders.

Tight Spread and Low commission

Depositing and withdrawing funds on Global Coin is completely free. The procedure of registering and validating a platform account is also free. Global Coin only charges a small fee for each successful transaction, as is customary, in return for its status as a registered broker that provides traders with cutting-edge trading tools.

Assets to trade 

Investors can choose from a wide range of trading products offered by Global Coin. Traders have complete freedom to trade whatever asset they wish. In the financial industry, there are many well-known trading brokers, but they only provide a limited number of investment products to traders. Traders are constrained by the fact that they have no other options. Global Coin, on the other hand, is aware of the needs of traders and works to satisfy them as quickly as feasible. Global Coin offers CFDs, commodities, equities, forex, and a whole lot more. Traders must pay a minor charge on currencies, indexes, and commodities. The fees for each account are different.

Global Coin Customer support

In addition to its desktop and mobile device compatibility, Global Coin is also extremely user-friendly with cutting-edge technology. Its customer service team is available 24 hours a day, 365 days a year to better serve its customers in whatever capacity they desire.

Final Thought

making it a reliable broker. In addition to delivering excellent service, the broker’s sophisticated platform and customer products received high praise. As a Global Coin user, you will benefit from a long-term relationship with a company that values active traders’ long-term partnerships. Global Coin is an excellent broker! 

You can try out Global Coin for free today.  All registration is completed in less than two minutes, and you can as well test your trading skill without risk by using the platform demo trading account. 

Disclaimer: This is a sponsored marketing content.

Wall Street Gains Over 2% in Broad Rebound

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 15, 2022. REUTERS/Brendan McDermid/File Photo
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 15, 2022. REUTERS/Brendan McDermid/File Photo

June 21 (Reuters) – Wall Street’s major indexes jumped over 2% on Tuesday as investors scooped up shares of megacap growth and energy companies after the stock market swooned last week on worries over a global economic downturn.

All 11 major S&P 500 (.SPX) sectors gained, as stocks rebounded broadly after the benchmark index last week logged its biggest weekly percentage decline since March 2020.

Investors are trying to assess how far stocks can fall as they weigh risks to the economy with the Federal Reserve taking aggressive measures to try to tamp down surging inflation. The S&P 500 earlier this month fell over 20% from its January all-time high, confirming the common definition of a bear market.

“Do I think we have hit bottom? No. I think we are going to see more volatility, I think the bottoming process will likely take some time,” said Kristina Hooper, chief global market strategist at Invesco. “But I do think it is a good sign to see investor interest.”

The Dow Jones Industrial Average (.DJI) rose 641.47 points, or 2.15%, to 30,530.25, and the S&P 500 (.SPX) gained 89.95 points, or 2.45%, at 3,764.79. The Nasdaq Composite (.IXIC) added 270.95 points, or 2.51%, at 11,069.30.

The energy sector (.SPNY), the top-gaining S&P 500 sector this year, surged 5.1% after tumbling last week. Every sector gained at least 1%.

Megacap stocks Apple Inc (AAPL.O), Tesla Inc (TSLA.O) and Microsoft Corp (MSFT.O) all rose solidly to give the biggest individual boosts to the S&P 500. Apple rose 3.3%, Tesla jumped 9.4% and Microsoft added 2.5%.

The Fed last week approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation.

Source: Reuters

Wall St Week Ahead: Cloudy valuations give investors pause in buying beaten-up U.S. stocks

NEW YORK, June 17 (Reuters) – Whipsawing bond yields, surging oil prices and a Federal Reserve bent on squashing the worst inflation in four decades are hampering investors’ ability to assess U.S. stock valuations, even as the market’s tumble creates potential bargains.

Without a doubt, stocks are far cheaper than at the start of the year, following a 23% year-to-date decline in the S&P 500 (.SPX) that confirmed a bear market for the index earlier this week.

Whether they are cheap enough, however, is less certain. Market volatility and a rapidly changing macroeconomic landscape have clouded metrics that investors typically use to value stocks, such as corporate earnings and Treasury yields, keeping some potential buyers on the sideline.

“Until we see some better visibility on the rates outlook and some better visibility on the earnings outlook, the fair value for equities is a little bit elusive,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. The institute recently started recommending clients reduce equity risk and move funds into fixed income.

Stocks came under more pressure this week, with the S&P 500 falling to its lowest since late 2020, in the wake of the Fed enacting its largest rate-hike in nearly three decades.

This year’s decline lowered the index’s forward price-to-earnings ratio, which compares its price with its expected profits, to 17.3, from 21.7 at the start of 2022 – closer to the market’s historic average of 15.5, according to Refinitiv Datastream.

But while S&P 500 earnings are expected to rise nearly 10% in 2022, according to Refinitiv IBES, some market participants doubt those estimates will hold up in the face of surging inflation and tightening financial conditions.

Wells Fargo institute strategists forecast positive but slowing earnings growth this year and a contraction in 2023, as they expect a recession in late 2022 and early 2023.

“We are advocating to investors to consider an economy and an earnings backdrop that may be more challenging … so just don’t be fooled by where valuations are based off of today’s expectations,” said Chad Morganlander, portfolio manager at Washington Crossing Advisors, who is recommending clients continue to underweight equities.

Source: Reuters

Dow Sinks 700 Points, Dropping Back Below 30,000 to the Lowest Level in More Than a Year

The Dow Jones Industrial Average on Thursday tumbled below the key 30,000 level for the first time since January 2021 as investors worried the Federal Reserve’s aggressive approach toward curbing inflation would bring the economy into a recession.

Markets had rallied on Wednesday after the Fed announced its largest rate hike since 1994, but reversed those gains and then some on Thursday.

The Dow dropped 2.42%, or 741.46 points, to 29,927.07, while the S&P 500 slipped 3.25% to 3,666.77. The Nasdaq Composite slid 4.08% to 10,646.10 and touched its lowest level since September 2020.

The major averages have suffered steep losses this week. The S&P 500 is down 6%, while the Nasdaq has fallen 6.1%. The blue-chip Dow is off by about 4.7% this week and on pace for its 11th losing week of the last 12.

The S&P 500 and Nasdaq Composite fell further into bear market territory, ending the session down roughly 24% and 34% from their all-time highs, respectively, as inflation and fears of slowing economic growth weigh on investors. The Dow, meanwhile, is 19% below its Jan. 5 all-time intraday high.

“Investor sentiment seems to only be able to focus on one thing at a time,” said Susan Schmidt of Aviva Investors. “Yesterday, the Fed delivered as people expected. It was combating the consumer price index data that was much higher than people expected and raised concerns about inflation being so aggressive. Investors are now remembering that the counter to this is a slowing of the economy.”

Thursday marked the first time the Dow has traded below 30,000 since January 2021. The average first moved above that level in November 2020 when massive monetary and fiscal stimulus fueled a broader market rally — led by tech shares — and took the major averages to then-record highs.

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Source: CNBC

Oil Trading – Conclusion And Requirement In Bitcoin

The tremendous relationship between oil products and cryptocurrency is being debated. People are already concluding without knowing anything. It is necessary to accept that the uncertainty and fluctuation of the price of the cryptocurrency can negatively impact oil trading; according to oil-profits.com, pertinent information is needed to be related to the subject to analyze and underlying the principles of Bitcoin in the economy of oil trading. Presently, people recognize cryptocurrency’s financial market as volatile and bubble dynamic. Bitcoin is still counted as an embryo that is developing with the new environment and keeping up with technological advancement. It is relatively challenging to push a currency to become an alternator.

Furthermore, the mechanism of cryptocurrency can easily modify the demand and apply it to oil trading. The Infinite natural extraction of liquid requires a movement with professional digital money that can make the experience of investors integrated with professionalism. Oil feeding without the path of maximizing profit when investors experience is understood through the walls of volatility.

Oil Price Description

The trading of the commodities is based on the frequency and price momentum. It is swift for any investor to describe the speculations. Oil is a good commodity changed on the second number in demand through cryptocurrency and after Bitcoin. Both commodities are suitable in the concept of revenue, and the financial documents define the assessment of more achievements in the price. On the domestic level, oil trading is done through physical money. People can reach out for the price and know about the charge there, for the results are similar for those trading on the same land. But if a person is interested from a different country in oil and looking for the training option defines the different charts with different percentage of profits. The scope of all the elements in achievements and revenue changes instantly when political differences enter trading. 

The description of price with physical money diffuses the power of the commodity and represents a defining line that separates people. Presently, it is considered a damaging commodity that calls for investment in Bitcoin. The cryptocurrency channel presents the same chart and describes the application process through the internet. There is no difference for the international investor to take the hope in oil trading. The clarification of every substance through electronic medium becomes more visible.

Requirements

Digital money is the new future hope that brings the best development and possible position for oil in the industry to spread through trading. The procedures marked in cryptocurrencies are very straightforward in allocating efficiency. The network series supports the international transaction work for the trustable exchange and takes multiple investors’ offers from the cross border. Traditional money has no International participation as it delightfully avoids the exchange. Meanwhile, the focus should not separate from the volatility of a currency’s bit recipe behaviour. 

Oil trading associates the partnership with the International transaction for the friendly terms and provides the occupation to every investor who wants to establish in the oil sector. However, no question has to be a part of a weak organization like the government, which has no digital participation.

Benefits To Conclusion

The reports of oil trading with a significant touch of Bitcoin open the natural touch in the market and common interest. A cryptocurrency price is a supportable option for the services that investors want to achieve. Bitcoin is speculated more than the others because it takes one per cent of the detectable amount as a charge. The digital unit has no standard terms with fraught activities and production in evolution. Coin money is a self-code currency that illustrates the protective experience.

Moreover, every Technology has something to provide to the other commodity. For example, Bitcoin has an incredible transaction system and saviours the surcharges. So every part of cryptocurrency is giving the best to all, becoming an essential part and prosperity to the companies wanting to progress in the sector. 

It is a huge business; through cryptocurrency, it can spread in every country and reach every individual who can easily make the transaction for oil trading. To conclude, oil investment has a lot of potentials to give massive profits and concealed the support of cryptocurrency in managing the records under the transparency feature.

Coinbase Lays Off 18% of Workforce as Executives Prepare for Recession and ‘Crypto Winter’

Coinbase is laying off almost a fifth of its workforce amid a collapse in its stock and crypto prices.

The cryptocurrency exchange will cut 18% of full-time jobs, according to an email sent to employees Tuesday morning. Coinbase has roughly 5,000 full-time workers, translating to a head count reduction of around 1,100 people.

Shares of Coinbase were down about .75% at 12:15 ET on Tuesday.

CEO Brian Armstrong pointed to a possible recession, and a need to manage Coinbase’s burn rate and increase efficiency. He also said the company grew “too quickly” during a bull market.

“We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period,” Armstrong said in the email, adding that past crypto winters have resulted in a significant decline in trading activity. “While it’s hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment.”

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Source: CNBC

Fortunes of Crypto Billionaires Are Disappearing With Bitcoin Crash

They were the radiant face of the rise of cryptocurrencies in 2021.

Some saw them as the symbol of the advent of alternative finance capable of competing with traditional finance. They were basically the new bosses of the “New Wall Street”.

The crypto craze had indeed made many millionaires and billionaires but they were in their own league: Changpeng Zhao, founder of Binance, the largest crypto exchange by volume, Sam Bankman-Fried, founder of crypto trading platform FTX.com, Tyler and Cameron Winklevoss, cofounders of Gemini, Brian Armstrong and Fred Ehrsam, cofounders of Coinbase (COIN) – Get Coinbase Global Inc Report and finally Mike Novogratz, the former Goldman Sachs banker turned crypto evangelist.

Eight months after the Crypto euphoria that had made them even richer, they are watching helplessly as the billions of dollars they had made disappear.

Changpeng Zhao had a fortune of $95.8 billion on paper on November 9, 2021, the day before Bitcoin’s all-time high. As of June 13, it was only estimated at $10.2 billion, according to Bloomberg Billionaires Index. Basically, he lost $85.6 billion in eight months.

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Source: the Street

Dow Jones and S&P 500 Record Their Lowest Close Since Early 2021

Last week’s selloff paled in comparison to the bloodbath on Wall Street today. All three major indexes logged their fourth-straight loss, with the Dow in particular shedding 876 points to close at its lowest level since February 2021. The S&P 500 closed in bear market territory and at its lowest level since March 2021, while the Nasdaq fell to levels not seen since November 2020. Session lows for stocks occurred in the wake of a Wall Street Journal report that said the Federal Reserve is “likely to consider” a 75-basis point interest rate hike later this week, much steeper than the initially expected 25-basis point hike.

A sharp rise in the 10-year Treasury yield — the biggest jump since March 2020 — demolished the tech sector as well. In addition, the 2-year Treasury yield briefly crossed the 10-year rate earlier, forming a yield curve inversion that may be indicative of a recession. Meanwhile, the Cboe Volatility Index (VIX) recorded its best single-day percentage gain since May.

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Source: Nasdaq

S&P 500 Tumbles Nearly 4% to New Low for the Year, Closes in Bear Market Territory

The 2022 stock sell-off intensified on Monday with the S&P 500 tumbling to a fresh low for the year and closing in bear market territory as recession fears grew ahead of this week’s key Federal Reserve meeting.

The S&P 500 fell 3.88% to 3,749.63, marking its lowest level since March 2021 and bringing its losses from its January record to more than 21%. The benchmark closed in bear market territory (down more than 20% from its high) after trading there briefly on an intraday basis about three weeks ago. Some on Wall Street say it’s not an official bear market until the index closes there and that’s what happened on Monday. The last time stocks were in a bear market was in March 2020 at the onset of the pandemic.

The Dow Jones Industrial Average dropped 876.05 points, or 2.79%, to settle at 30,516.74, about 17% off its record high. The Nasdaq Composite tumbled 4.68% to close at 10,809.23, bringing its losses for this sell-off to more than 33%.

Major averages hit their lows of the session in the final 30 minutes after a Wall Street Journal report suggested the Fed would consider raising rates by 0.75% on Wednesday, more than the half-point increase currently expected.

There were few places to hide on Monday as Treasury bond prices dropped, pushing the 10-year yield to its largest one-day move since March 2020. Bitcoin was slammed by 15%. At one point during the trading day, every single stock in the S&P 500 was lower. Only five stocks in the benchmark closed the day in the green.

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Source: CNBC