Let’s Talk Business is BullMarketz weekly summary of the world’s most important trading news. It's a one-stop source for all the latest financial developments to base your investments on, whether it be in the global forex market, in the binary options world, or in relation to the stock markets. Additionally, it's the quickest way to get updated on any market and should be a part of every serious trader’s toolkit.
On Tuesday, Mark Zuckerberg testified in front of the United States Senate about the recent Facebook – Cambridge Analytica scandal and it was a heated testimony. Over 40 senators were there to question the Facebook CEO and when Zuckerberg officially took the responsibility for the data breach, the Facebook stock soared more than it has in 2 years. Although, not everyone was too excited about how it all played out and victims of the breach are starting to think that the people involved in the scandal will get away too easily.
Gold has long been a safe haven for stock traders when the stock market is experiencing a decline. Because of this, people tend to think that you can use the price of gold to evaluate how the stock market will perform. As the price of gold keeps increasing and reaching new record levels, investors are getting nervous that people are dumping stocks for gold and that the market is about to crash again.
The New York Stock Exchange’s (NYSE) parent company Intercontinental Exchange (ICE) has just acquired the Chicago Stock Exchange. The deal that’s said to be worth at least 70 million dollars will help ICE to further establish themselves as the leading exchange in the world.
Overstock has been struggling for months, and people are becoming very worried about the future of the e-commerce giant. As stocks continue to plummet, it seems like the management is moving to Bitcoin ventures which is not too surprising since Overstock was one of the first American companies to start accepting Bitcoin as a means of payment. Whether or not the management is moving into the cryptocurrency world remains unclear but what’s more important is whether Overstock will survive at all.
Tesla is in a funk that they seem unable to break. The company has been struggling for a long time, and as they were forced to postpone the latest car model, investors lost faith in their future. Now the situation has gotten so bad that Tesla is the largest short trade on the American stock market. That means that more traders are betting against Tesla than any other company and that is bad news for a company that seems unfit to regain their popularity.
China has decided to try and compromise with the United States in the ongoing trade war. By lowering their tariffs on American cars, the Chinese government has created room for negotiations and a possible end to the trade war. However, the lowered tariffs will not change anything on their own and it’s now up to both countries to try and find a long-term solution.
Barclays has released a report where they compare the Bitcoin mania with the flu. According to Barclays, the Bitcoin and cryptocurrency mania that was initiated last year can be compared to the flu, and according to their report, the flu is almost over. What that means is that we can expect to see a more even price development for Bitcoin and other cryptocurrencies in the near future.
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