Bearish Bitcoin, Twitter Gets Hacked & Goldman Sachs Surges – Daily Financial News Summary For Wednesday, July 15, 2020
Today we’ll consider the extended tax deadline edition…
The middle of the week kept the market’s spirits high. The S&P 500 and the Dow Jones were both up 0.9%, while the Nasdaq was up 0.5%, while the small-cap stock index, the Russell 2000, decided today was the time to climb. It grew 3.5% for the largest single-day gain since early June.
While areas of the stock market remain volatile, Bitcoin has been seeing a somewhat unusual run of stability. Bitcoin (BTC) slipped 1% over the previous 24 hours with a 24-hour range of $9,153-$9,279. This puts it below the 10-day and 50-day moving average, which some are saying is a bearish signal after optimism the cryptocurrency would see its value surpass $10,000 in the near future.
Jack Tan, the founding partner of Taiwan-based firm Kronos Research, said, “Trading bitcoins is about as exciting as sitting in traffic, I’m guessing bitcoin’s time will come in the next couple of months, but for now just enjoy the altcoin and equities rallies.”
Moderna stock price rose 6.9% following information published by the New England Journal of Medicine showing Moderna’s coronavirus vaccine produced neutralizing antibodies in all 45 patients in its early stage human trial.
What Has The U.S-China Trade-War Taught Us After One Year? Winners vs. Losers
One year since it started, the U.S-China trade war is far from over, having had casualties and disrupting the way countries trade with each other. The most significant casualties have been U.S and Chinese companies that have had to change their investment plans in the two countries and how they do business.
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