Markets News 

U.S. retail sales jump 0.8% in November as holiday season gets off to good start

“The numbers: Sales at U.S. retailers climbed 0.8% in November, the start of the holiday shopping season” writes Jeffry Bartash for marketwatch.com. What happened: Internet retailers posted a whopping 2.5% increase in sales as consumers increasingly switch to online shopping.What they are saying?: “November’s retail sales report suggests that consumers are responding positively to solid job gains, increasing income growth, and record levels of household net worth,” said David Berson, chief economist of Nationwide.Home centers, stores that sell home furnishings, apparel retailers, sporting-goods outlets and restaurants also reported strong sales. Source:…

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Markets News Oil 

U.S. shale ramps up, helps drive oil supply to highest in a year, says IEA

“In its closely watched monthly oil market report, the IEA said the amount of crude oil on the global market rose by 170,000 barrels a day in November to 97.8 million barrels a day” writes Christopher Alessi for marketwatch.com. The group first agreed a year ago to cut almost 2% of global oil production in an effort to rein in a global supply glut that has weighed on prices CLF8, -0.12%  since 2014.Shale producers are roaring back to life, pushing the global oil supply to its highest level in a…

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Crypto Futures Markets News 

The first bitcoin futures depend on trading at the Winklevoss twins’ tiny exchange — and that could be a problem

“Ranked fourteenth globally by 24-hour trading volumes, the exchange sees only 1.4% of trading in the entire bitcoin market, according to data from CoinMarketCap” reports businessinsider.com. Nasdaq’s bitcoin futures contract will track 50 indexes, whereas CME Group, Cboe’s cross-town rival, is set to track four.Cboe’s futures will be based on the auction price of bitcoin on the Gemini exchange.All eyes will be on Cboe Global Markets on Sunday when it launches futures contracts for bitcoin.”The Gemini Exchange, while being a solid US-based exchange, makes up a very small percentage of…

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Markets News Regulators 

Dow notches record as Fed hikes rates

“The S&P 500 ended slightly lower on Wednesday pressured by the financial sector after the Federal Reserve announced a widely expected interest rate hike but kept its rate outlook for coming years even as it projected faster U.S. economic growth” reports foxbusiness.com. The S&P utilities .SPLRCU sector pared gains after hitting a session high to end up 0.3 percent. Source: foxbusiness.com Share This:

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Crypto Markets News 

South Korea Pushes Ripple Price Up 71%, as Japanese Banks Conduct Payment Trials

“The South Korean cryptocurrency market has pushed the Ripple price up 71 percent over the past 24 hours, triggered by the Ripple blockchain-based payment trial conducted by Japanese and South Korean banks” writes unknown author for cryptocoinsnews.com. Cross-border payments between South Korean and Japanese banks will be begin on January 31, if pilot tests throughout December are successfully conducted.Since the beginning of 2017, Ripple Labs have made significant process in assisting major banks and financial institutions to adopt the Ripple blockchain technology.Bithumb, Korbit, and Coinone, three of the largest cryptocurrency…

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Crypto Markets News 

$500 Billion: Ethereum, Ripple Prices Carry Crypto Market Cap to Historic Milestone

“At present, the ethereum price is trading at a global average of $681, which translates into a $65.6 billion market cap” writes unknown author for cryptocoinsnews.com. Ordinarily, one expects these market cap rallies to coincide with dramatic bitcoin price climbs, but that was not the case today.That’s because the ripple price exploded by 71 percent amid insatiable demand from Korean traders.The ethereum price posted an impressive advance for the second-consecutive day, rising 25 percent and briefly extending as high as $686.Cryptocurrencies achieved another historic milestone this week, as their combined…

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Crypto Markets News Regulators 

Janet Yellen: Bitcoin is a ‘highly speculative asset’

“Outgoing Federal Reserve Board Chair Janet Yellen said Wednesday that bitcoin is a “highly speculative asset,” and downplayed its supposed role as a currency” writes Pete Kasperowicz for washingtonexaminer.com. On the stock market, Yellen noted that the Fed has said in recent months that valuations are “elevated” and “on the high end” of the historical range.However, she said the Fed has no policy related to bitcoin and has not offered any specific guidance to banks on the new, rising asset. Source: washingtonexaminer.com Share This:

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Markets News 

Wall Street analysts got earnings right, but undershot optimism

“The average earnings per share for the S&P 500 was about $127” writes Anora M for marketwatch.com. According to FactSet, the bottom-up consensus estimate for the S&P 500 in December of 2016 was $133.Such a price target suggests that analysts were assuming investors would pay 18.8 times forward earnings. Source: marketwatch.com Share This:

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Markets News 

Has the housing market recovered? Ask the 1.4 million homeowners still underwater

“Read: The financial and housing market rescue left many Americans behind Earlier this year, Attom Data estimated there were millions such homeowners” writes Andrea Riquier for marketwatch.com. It may seem jarring that more than a million homeowners still haven’t climbed above water so many years after the bubble burst, even in a housing market supposedly starved for inventory.At the center of the recession, and the financial crisis that rocked markets in 2008, was the housing bubble. Source: marketwatch.com Share This:

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