Gold Beats Bitcoin as Fed Chair Powell Finalizes Dovish Pivot

Monetary policy may or may not have a direct impact on bitcoin, but the US Federal Reserve’s dovish pivot is helping gold regain a bit of shine from its digital counterpart. The precious metal popped to its weekly high today, extending gains from the previous session after Federal Reserve Chairman Jerome Powell appeared to set …

Dow’s Future Clouded as Ex-White House Official Rules Out July Rate Cut

The Dow Jones and the broader U.S. stock market were in solid form in the first half of 2019 despite geopolitical tensions on several fronts. The Dow and the S&P 500 hit new highs a week ago thanks to the Federal Reserve’s dovish monetary policy outlook.  But former White House communications director Anthony “The Mooch” …

Dow Creeps Higher as Trump Stacks Fed with Rate-Slashing Allies

Dow Jones futures traded higher on Wednesday as Trump aims to stack the Federal Reserve in his favor. In a series of tweets last night, he revealed his picks for the two empty chairs on the Fed’s board of governors. The names are Christopher Waller and Judy Shelton, both staunch advocates of low-interest rates. Trump …

Sky High Dow Faces Painful Correction as Catastrophic Earnings Awaits

The Dow Jones Industrial Average (DJIA) briefly hit a record high in yesterday’s trading session. But the optimism could be short-lived with all signs pointing to a disastrous second-quarter earnings season. 77 percent of companies that have released Q2 guidance have warned they’ll underperform Wall Street estimates. It’s the most negative earnings backdrop in 13 …

Goldman Sachs ‘Absolutely’ Eyeing Crypto, Doesn’t Expect Stock Market Crash

If you can’t beat ’em, join ’em. That’s the prevailing mindset on Wall Street when it comes to crypto. The latest to (re)-hop on the bitcoin/blockchain bandwagon is Goldman Sachs CEO David Solomon. Solomon: All the Big Dogs Are Considering Crypto Solomon told French financial newspaper Les Echos that Goldman Sachs is “absolutely” considering its own …

Dow Ekes Out Gains Without Rate Cut as Defiant Powell Defends His Job

Published: 19/06/2019 16:05 EST. Journalist: By CCN Markets: The Dow Jones Industrial Average was meandering in and out of positive territory as investors digested a fascinating Federal Reserve meeting. In the end, stocks managed to hold onto gains, with the Dow closing at 26,504, up fractionally. By keeping rates on hold, Chairman Jerome Powell faced …