Bitcoin, Moderna, FedEx, Google - 5 Things You Must Know Thursday
Congress appears closer to reaching a coronavirus aid package; Federal Reserve pledges continued support for economy; bitcoin crosses $23,000 for first time; Moderna vaccine goes before FDA advisory panel.
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1. Stock Futures Rise as Congress Closer to Stimulus Bill
Stock futures rose Thursday as congressional leaders appeared closer to agreeing to a coronavirus aid package and as the Federal Reserve said it would maintain monthly bond purchases until the economy makes substantial further progress.
Contracts linked to the Dow Jones Industrial Average were up 94 points, S&P 500 futures rose 17 points and Nasdaq futures gained 59 points. The tech-heavy Nasdaq closed at another record high on Wednesday.
Bitcoin tops $22 000, with more upside seen ahead
Bitcoin has surged about 20% this week, breaching US$22 000 for the first time and stirring predictions that more gains lie ahead for the world’s largest cryptocurrency.
The digital coin jumped as much as 4.6% to about $22 173 on Thursday, before paring some of the advance. Bitcoin and the wider Bloomberg Galaxy Crypto Index have both more than tripled this year. Cryptocurrency-linked stocks in South Korea, Japan and China climbed.
The rally in digital assets is polarising opinion, given bitcoin’s history of boom and bust. Proponents argue the cryptocurrency is muscling in on gold as a portfolio diversifier amid dollar weakness and potential inflationary pressure. Others see speculative fervour that will inevitably lead to a bust akin to the meltdown three years ago after a furious bitcoin rally.
Bitcoin breaks above $23,000 as Wall Street firms pile in
As the cryptocurrency s momentum buildings, analysts predict more gains ahead
December 17, 2020 2 MINS
Bitcoin breached $23,000 for the first time in history as more Wall Street names crowd into the world’s largest digital currency, which is up 220% this year.
As momentum builds, analysts predict more gains ahead.
The digital coin jumped more than 9% on Thursday, touching a high of $23,256.92, according to a composite of prices compiled by Bloomberg. Bitcoin and the wider Bloomberg Galaxy Crypto Index have both more than tripled this year. Cryptocurrency-linked stocks in South Korea, Japan and China climbed.
Bitcoin, Moderna, FedEx, Google - 5 Things You Must Know Thursday TheStreet 12/17/2020
Here are five things you must know for Thursday, Dec. 17:
1. Stock Futures Rise as Congress Closer to Stimulus Bill
Stock futures rose Thursday as congressional leaders appeared closer to agreeing to a coronavirus aid package and as the Federal Reserve said it would maintain monthly bond purchases until the economy makes substantial further progress.
Contracts linked to the Dow Jones Industrial Average were up 94 points, S&P 500 futures rose 17 points and Nasdaq futures gained 59 points. The tech-heavy Nasdaq closed at another record high on Wednesday.
While the finishing touches of the $900 billion relief plan were still being worked out, some details of what will be included in the package have emerged.
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Bitcoin’s meteoric rise in recent months continued Thursday as the virtual currency shattered the $20,000 barrier and surged to more than $23,000 per coin.
The world’s oldest and most popular cryptocurrency surged past 20% in just one day and has risen more than 200% this year alone.
The reasons are not clear, but some observers point to institutions like PayPal, which have started allowing customers to use the cryptocurrency.
Other investment professionals are starting to add Bitcoin to their portfolios.
According to Business Insider, billionaire hedge fund manager Paul Tudor Jones and investment banker Mike Novogratz have recently lauded Bitcoin, saying it was likely to keep going higher.