MARKETS: #US #Dow declines by nearly 300-points with #S&P500 down by 1.3% as fed chair talks of expectation of faster than normal rate rises #AceFinanceDesk reports

#AFNews – 27/02/18: #Dow declines 299 points after Fed chair’s testimony raises expectations for faster rate hikes. #S&P500 loses 1.3%. https://t.co/A9OlUXl3FI— CNNMoney New Fed chair doesn’t believe ETFs had a part in the market correction https://t.co/I6eWFpsyrU CNBC #AceFinanceDesk reports

Consumer stocks were among the biggest market losers in the U.S. with AutoZone down more than 11 percent, Comcast down about 7.4 percent and Disney down about 4.5 percent $AZO $CMCSA $DIShttps://t.co/XxYtyA4p4J— Reuters Business Report
February 27, 2018 #AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

Advertisements

MARKETS: #US Dow Jones has gone up by more than 700 points since Friday, (Closed Saturday and Sunday), gone up 399 points today, 1.58%, ends at 25,709 points today #AceFinanceDesk reports

#AFNews – Feb.26: The Dow Jones has gone up by more than 700 points since Friday, (Closed Saturday and Sunday), gone up 399 points today, 1.58%, ends at 25,709 points today #AceFinanceDesk reports
image1.jpeg

BNL NEWS Dow closes up nearly 400 points, major averages down just 3% from all-time highs https://t.co/0jNsFfqAiZ pic.twitter.com/Zi4lT6412r CNBC Stocks extend gains, Nasdaq up 74 points or 1 percent; Dow index up about 360 points or 1.4 percent https://t.co/nHxa2FUd7Q Reuters Business
February 26, 2018 #AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

MARKETS REPORT: U.S.#Dow closes up 410 points or 1.7%, on Monday. The average has spiked 741 points in two trading days, and both the Dow and the S&P 500 have notched their biggest two-day percentage gains since June 2016 after recent massive falls in massive selloff over last two days #AceFinanceDesk reports

#AFNews – 12/02/17: Editor says this could be just another ‘ Rise & Fall ‘ but today the stock market staged a powerful comeback from its worst week in two years: U.S. stocks rose on Monday as the major indexes rebounded from their worst weekly performances in two years: #AceFinanceDesk reports

The Dow climbed 410 points, or 1.7%, on Monday. The average has spiked 741 points in two trading days, and both the Dow and the S&P 500 have notched their biggest two-day percentage gains since June 2016:

The Dow Jones industrial average closed 410.37 points higher at 24,601.27 and rose as much as 574.26. DowDuPont and Apple were the best-performing stocks in the Dow, advancing 3.4 percent and 4 percent, respectively.

The S&P 500 gained 1.4 percent to finish at 2,656, with materials and information technology as the best-performing sectors. The Nasdaq composite advanced 1.6 percent to close at 6,981.96.

Shares of Amazon, Bank of America and Apple — which fell sharply last week — all rose by at least 2.5 percent.

JJ Kinahan, chief market strategist at TD Ameritrade, said the market is trying to find its balance point after last week’s wild swings. “There’s more volatility ahead. These things take a few weeks to get worked out,” he said.

The Dow and S&P 500 both pulled back 5.2 percent last week, notching their worst weekly declines since January 2016. The Nasdaq composite, meanwhile, dropped 5.1 percent, marking its biggest one-week pullback since February 2016. The indexes also dipped into correction territory.

The major indexes closed out last week on a high note, with the Dow rising 330 points on Friday while the S&P 500 and Nasdaq gained more than 1.4 percent.

The 30-stock Dow closed more than 1,000 points lower twice last week and rose more than 300 points in two other trading days. The S&P 500, meanwhile, posted moves greater than 1 percent in four-of-five trading days last week.

“This looks like a corrective phase rather than the start of a bear market,” said Katie Stockton, founder of Fairlead Strategies. “The biggest risk to the marker prior to this sell-off was sentiment and we’ve seen that go from overly bullish to overly bearish.”

Stockton noted, however, it could take a few more weeks until this correction is over.

“The market is trying to bounce here, but we have yields climbing and that could dampen enthusiasm,” said Peter Cardillo, chief market economist at First Standard Financial.

Investors have been on edge as of late over concerns surrounding higher interest rates, therefore moves in the bond market will continue to be of key importance going forward. The benchmark 10-year U.S. note yield rose to a four-year high on Monday before trading at 2.858 percent.

The latest move higher follows news that the White House will unveil a long-awaited infrastructure plan that includes $200 billion in federal infrastructure spending over 10 years.

“It is no surprise that Trump’s agenda will provide a great deal of fiscal stimulus from tax cuts, and more spending on defense and infrastructure,” Ed Yardeni, president and chief investment strategist at Yardeni Research, said Monday. “The jury is still out on whether all that fiscal stimulus will revive inflation. [We] don’t think so, but the Bond Vigilantes are saddling up.” He also said his firm raised its 2018 forecast on the 10-year yield to a range of 3-to-3.5 percent.

There were no major economic data releases on Monday, but investors looked ahead to the release of the latest Consumer Price Index reading. The CPI numbers are scheduled for release Wednesday at 8:30 a.m. ET.

Jonathan Golub, chief U.S. equity strategist at Credit Suisse, told CNBC’s “Squawk on the Street” the CPI number was important. “The expectations are that inflation is actually going to be coming down a tiny bit, both on the core and the headline,” he said. “Unless we get a problematic surprise, I think Wednesday can actually be the event that calms the markets down.” ……….Historic volatility shook Wall Street last week as investors worried about inflation and the future of interest rates. The selling culminated in two 1,000-point plunges that left the Dow in a correction, a 10% decline from previous highs.Dow closes up 410 points. In a two-day comeback, it has recovered about a third of its plunge from its record high. https://t.co/A9OlUXl3FI CNNMoney: Dow closes more than 400 points higher after its worst week in 2 yearshttps://t.co/y1avoJdEsZ pic.twitter.com/aJr96qp6Is …….Dow closes up 410 points. In a two-day comeback, it has recovered about a third of its plunge from its record high. http://cnnmon.ie/bkgnews Tech stocks lead gains on the Dow and S&P 500 as Wall Street recovers from selloff https://t.co/UGmZ7UgyiX pic.twitter.com/VLXvtickRK Reuters Business #AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

FEATURE: As bitcoin hits the skids after reaching heights of 20,000 banks cant control it so rather than let it ride: US & UK banks ban Bitcoin purchases with credit cards due to floating debt, as China is to block a ll websites related to cryptocurrency trading and initial coin offerings (ICOs) – including foreign platforms – in a bid to finally quash the market completely #AceFinanceDesk reports

#AceFinanceReport – Feb.10: It’s happened in the US and now it’s happening in the UK. Lloyds Banking Group, which runs Halifax, Bank of Scotland, MBNA and, of course, Lloyds, has banned its customers from buying bitcoin with their credit cards. “We do not accept credit card transactions involving the purchase of cryptocurrencies,” a Lloyds Banking Group spokesperson told the Guardian. It’s thought to be the first UK bank — or rather, banking chain — to block its members from investing in the cryptocurrency. The worry, presumably, is that people will borrow cash and then be saddled with large amounts of debt they cannot pay back due to Bitcoin’s fluctuating value #AceFinanceDesk reports

Bitcoin had a stellar trajectory in 2017, rising from roughly $800 to $19,783 in late December. As the value grew, so did the attention of traditional investors and tech-savvy citizens who wanted to make a quick buck. The following month, however, Bitcoin’s value cratered. The reasons are unclear, but it was a harsh reminder of the volatility of cryptocurrencies. Bitcoin now sits at just under $8,000 and understandably, banks are worried about its customers getting caught up in the ‘digital gold’ craze. We’ve asked HSBC, Barclays, Santander and smaller banks such as First Direct for their current position on credit card-funded Bitcoin transactions:

Financial institutions in the US made a similar move last week. Credit cards issued by Bank of America, JP Morgan Chase and Citigroup are now restricted from Bitcoin purchases due to the associated risks. At the same time, politicians around the world are scrambling to figure out what, if any regulation is required to protect their citizens. UK Prime Minister Theresa May said at the World Economic Forum in Davos: “In areas like cryptocurrencies, like Bitcoin, we should be looking at these very seriously, precisely because of the way they can be used, particularly by criminals.” South Korea, meanwhile, has tried to control the market by introducing rules that limit cryptocurrency trading to real-name bank accounts. China is to block all websites related to cryptocurrency trading and initial coin offerings (ICOs) – including foreign platforms – in a bid to finally quash the market completely.

“To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICOs,” said an article published on Sunday night by Financial News, a publication affiliated to the People’s Bank of China (PBOC).

Bitcoin latest: prices, policies and politics

The article acknowledged that recent attempts to stamp out digital currencies by shutting down domestic exchanges had failed to completely eradicate trading.

“ICOs and virtual currency trading did not completely withdraw from China following the official ban … after the closure of the domestic virtual currency exchanges, many people turned to overseas platforms to continue participating in virtual currency transactions.

“Overseas transactions and regulatory evasion have resumed … risks are still there, fuelled by illegal issuance, and even fraud and pyramid selling,” the article said.

US news groups targeted by bogus email claiming Hong Kong bitcoin crackdown

China’s official Xinhua news agency quoted the PBOC on Monday afternoon as saying it would tighten regulations on domestic investors’ participation in overseas transactions of ICOs and virtual currencies, as risks are still high in the sector.

Beijing’s tougher stance – which effectively bans all forms of activity related to digital currencies – aims to put the breaks on the ICO and virtual-currency trading mania that has been sweeping China. The frenzy among retail investors led to huge price volatility and several reported incidents of fraud, causing a headache for regulators increasingly worried about social unrest.

In one incident on Saturday, reported by mainland Chinese media TMT Post, angry investors had forcibly taken Jiang Jie, founder of an ICO project called ARTS, to the Beijing municipal financial bureau, alleging fraud after the value of a virtual coin issued by ARTS tumbled to 0.13 yuan in two weeks from 0.66 yuan after its ICO and listing on an exchange in late January.

Following reports of the latest crackdown, advertisements for cryptocurrencies have stopped appearing on Baidu, China’s biggest search engine, and social media platform Weibo.

US$1 billion down, why is Japan still in love with bitcoin?

“It is common for people to use VPNs [virtual private networks] to trade cryptocurrencies, as many exchange platforms relocated to Japan or Singapore,” said Donald Zhao, an individual bitcoin trader who relocated to Tokyo from Beijing late last year, following the ban.

“I think the new move literally means it would be even harder to circumvent the ban in China … people promoting related business programmes may be arrested,” Zhao said.

The tighter regulation from the PBOC will “definitely weigh on the cryptocurrency universe,” said Wayne Cao, who runs a company that recently offered 10 billion tokens in an ICO.

“Most of the Chinese ICO projects are invested in by Chinese investors. So if they are blocked, the whole cryptocurrency market will be dragged down.”

How cybercriminals are making quick cash from cryptocurrencies

Until now, offerings of new tokens have usually been pegged to more established cryptocurrencies like bitcoin, and retail investors could buy into them via ICOs, as long as they had digital wallets ready. Trading of the coins has taken place on offshore exchange websites, with wider participation once ICOs are complete.

The bitcoin bubble seemed close to bursting after it dropped to below US$8,000 for the first time since November, then regained its standing, leaving some experts unnerved.

China banned both ICOs and cryptocurrency exchanges in September, but trading by individuals has remained a murky area with many businessmen relocating to Hong Kong or Japan while still raising funds from mainland investors.

The Chinese bitcoin mining gear sellers immune to crackdown

Two weeks ago, the PBOC ordered financial institutions to stop providing funding to any activity related to cryptocurrencies, further tightening the noose.

“It’s positive news for Japan and Singapore, because demand for participating in trading is not diminishing and traders have got to go somewhere,” said Ace Yang, executive director of Cathay Capital, a private equity firm based in Beijing.

One commentator said authorities would always be concerned about problems that could arise from a lack of supervision over blockchain technologies.

“Regulators will for sure step in, if any kinds of financial innovations currently implemented, including blockchain finance, digital finance, smart finance and big data finance, infringe upon the interests of consumers and affect the stability of the entire financial market,” said Li Lihui, a former president of the Bank of China who now works as team leader of the blockchain research department under the semi-official National Internet Finance Association of China.

#AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

(TEXAS, Ariz.) In a bid to attract businesses involved in blockchain and cryptocurrencies, Arizona lawmakers have proposed a bill that would allow the state’s citizens to pay their taxes in bitcoin #AceFinanceDesk reports

#AFNews – 09/02/18 – Arizona Introduces Bill That Would Allow Residents To Pay Taxes In Bitcoin: Arizona State Rep. Jeff Weninger, who introduced the bill, said it was a signal to everyone in the United States, and possibly throughout the world, that Arizona was going to be the place to be for blockchain and digital currency technology in the future,” reports Investopedia #AceFinanceDesk reports


Published on February 08, 2018 at 03:00PM:
https://goo.gl/iarVf6 From the report: Weninger, a Republican, also cited the ease of making online payments through the cryptocurrency “while you’re watching television,” as another reason. But he did not divulge much detail about the implementation of such a system………..That might be the reason why Weninger faces an uphill battle in getting the bill approved by the state legislature. Bitcoin’s price volatility is already being cited as a possible roadblock to implementing such a measure by state legislators…………Arizona state senator Steve Farley, a Democrat who’s running for governor, said the bill puts the “volatility burden” of bitcoin’s price on taxpayers who make payments in U.S. dollars. “It would mean that the money goes to the state and then the state has to take responsibility of how to exchange it,” Farley said: #AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

JUST IN: MARKETS: Sensex gains 400 points, Nifty reclaims 10,500-mark as markets turn buoyant #AceFinanceDesk reports

#AFNews – 08/02/17: Sensex gains 400 points, Nifty reclaims 10,500-mark as markets turn buoyant #AceFinanceDesk reports

https://t.co/iWSPoKaqMd via @TOIBusiness pic.twitter.com/zzmXCHBIYN
Times of India February 8, 2018 #AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

JUST IN: #US trade gap rises to $53.1 billion in December and $566 billion in 2017, highest in nine years #AceFinanceDesk reports

#AFNews – 06/02/17: #US trade gap rises to $53.1 billion in December and $566 billion in 2017, highest in nine years #AceFinanceDesk reports

https://t.co/YWK3NNBC2R
The Associated Press February 6, 2018 #AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

JUST IN: Asian stocks plunge after a record-breaking loss on Wall Street, extending global rout #AceFinanceDesk reports

#AFNews – 06/02/17: Asian stocks plunge after a record-breaking loss on Wall Street, extending global rout #AceFinanceDesk reports

https://t.co/7ghdqHwNWc pic.twitter.com/kbFyVSU6d8— AFP news agency February 6, 2018 #AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

MARKETS: #US #Dow at one point falling nearly 1,600 points in the largest intraday point decline #AceFinanceDesk reports

#AFNews – 05/02/17: Stocks continue to gyrate, with the #Dow at one point falling nearly 1,600 points in the largest intraday point decline #AceFinanceDesk reports

https://t.co/CoYljef2Rg #AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

JUST IN: Foreign investors have finalized $12.3 billion worth of contracts in Iran’s power sector, t he energy minister said in an interview with the state television #AceFinanceDesk reports

​​#AFNews – 05/02/17: Foreign investors have finalized $12.3 billion worth of contracts in Iran’s power sector: The energy minister said in an interview with the state television #AceFinanceDesk reports

goo.gl/pzTmDj @fintribune #AceFinanceNews

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews