News 

Fact-Checking a Facebook Executive’s Comments on Russian Interference

“After initially dismissing concerns that it influenced the 2016 election, Facebook has announced a series of moves to prevent its future misuse” writes Sheera Frenkel for nytimes.com. The indictment does show that Russian operatives used social media — particularly Facebook — to try to sow division among Americans. Source: nytimes.com Share This:

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It’s Getting Harder to Tell Banks From Tech Companies

“Engineering underpins our growth initiatives,” says a summary page, and it doesn’t mean financial engineering” writes Tyler Cowen for bloomberg.com. And in investment banking, “Engineering enhances client engagement through apps, machine learning and big data analytics.”.  Source: bloomberg.com Share This:

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January’s retail sales figures disappointed, and tax cuts won’t rescue February, either

“The tax cuts may have arrived in many Americans bank accounts, courtesy of lower withholding, but it still will be some time before those reductions goose retail spending” writes D C for marketwatch.com. What’s worse, from an economic perspective, is that the households that receive the tax credit have a higher propensity to spend, because they’re poorer.That’s a long way of saying, after January’s retail sales disappointment, February’s numbers might not be wonderful either. Source: marketwatch.com Share This:

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The world is minting millionaires quicker than Goldman Sachs can keep up with them — and it’s making a fortune off of them

“Fortunately for Goldman Sachs, the world is minting more multi-millionaires than the bank can keep up with” writes Alex Morrell for businessinsider.com. “The world seems to be growing rich people faster than we can grow advisers to cover them,” Blankfein said.”The world seems to be growing rich people faster than we can grow advisers to cover them,” CEO Lloyd Blankfein said.Matt Cardy/Getty Images Business is good if you’re a wealth adviser at Goldman Sachs, as millionaire clients are popping up quicker than the bank can keep up with. Source: businessinsider.com Share…

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Markets News Stocks 

MarketWatch

“Goldman said it recommends investors focus on cyclicals and low labor cost stocks “now that the long-awaited correction has occurred.”” writes Kinsey Grant for thestreet.com. After 499 trading sessions without a 10% correction on the S&P 500, last week’s stock market tumble presented many investors with an unfamiliar set of circumstances.A bear market in stocks would mean the S&P 500 would have to fall below 2300, “which history suggests is unlikely to occur without a recession,” analysts noted. Source: thestreet.com Share This:

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GOLDMAN SACHS: Here’s what you should buy to take advantage of a stock market rebound

“We’ll leave you with the chart below, which shows the path of the S&P 500 following 11 prior instances of market corrections” writes Joe Ciolli for businessinsider.com. Now that the S&P 500 has experienced a long-awaited 10% correction, it’s time for investors to start buying in earnest.A third area for stock traders to pursue is one that’s already been floated by Goldman in past weeks, even before the market correction: companies with low labor costs.”Despite the market decline, investors have expressed agreement with our view that fundamentals remain healthy,” Goldman…

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Crypto Futures News 

Goldman Sachs has spotted an odd way you could make money trading Bitcoin futures

“However, the increase in gold futures contracts is tied directly to the the rate of borrowing costs” writes Sam Jacobs for businessinsider.com. But according to Goldman, the recent price action in Bitcoin futures implied higher prices for longer-dated contracts — far in excess of the cost to borrow money.The analysts said a similar situation occurs in the more mature market for gold futures — but there’s a key difference.Analysts from Goldman Sachs have highlighted some unique characteristics to Bitcoin futures contracts which started trading on the CME exchange in December.…

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Crypto News 

Bitcoin, other cryptocurrencies headed to zero: Goldman

“The recent price fluctuation in cryptocurrencies including bitcoin is evidence that the market is in a bubble, according to Strongin” writes Leia Klingel for foxbusiness.com. While Strongin was pessimistic about bitcoin, he is more optimistic about the cryptocurrencies’ underlying technology: blockchain. Trading at around $8,200, bitcoin is still down significantly since mid-December, when it peaked just below $20,000.Bitcoin was trading up more than 6% on Wednesday, finally catching some footing after a big collapse. Source: foxbusiness.com Share This:

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GOLDMAN SACHS: What everyone’s saying is Snap’s biggest problem isn’t really a problem

“Up and down Wall Street, banks have been warning about Snap’s monetization problems” writes Jacob Sonenshine for businessinsider.com. Snap’s recent move into creating programmatic ad technology put a dent in its ad pricing, but Goldman notes the shift, which has “weighed on monetization growth in recent quarters, will naturally slow.”.  Source: businessinsider.com Share This:

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