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Bitcoin hits US$1 trillion value as crypto jump tops other assets
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Bitcoin hits $1 trillion value as crypto jump tops other assets
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Bitcoin Nears $1 Trillion Value as Crypto Jump Tops Other Assets
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Stocks Notch Best Day in 10 Weeks, Nasdaq Up 2.5%: Markets Wrap
Bloomberg 2/1/2021 Rita Nazareth and Vildana Hajric
(Bloomberg) Stocks had their biggest rally in about 10 weeks as several strategists said the recent explosion of speculative buying won’t derail the bull market in equities.
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In a broad-based advance led by retailers and tech companies, the S&P 500 rebounded from last week’s rout as the Nasdaq 100 jumped 2.5%. Amazon.com Inc. and Google’s parent Alphabet Inc., which are set to report earnings Tuesday, climbed at least 3.6%. Tesla Inc. soared after an analyst more than doubled his price target on the electric-car maker, saying “fireworks aren’t over.” GameStop Corp. tumbled as bearish investors appeared to cover their positions while retail traders flocked to other corners of the market. Silver climbed to an almost eight-year high.
Australian Stocks May Shed Laggard Tag in 2021
Bloomberg 12/17/2020 Jackie Edwards
(Bloomberg) For many investors Down Under, 2020 was a year to forget. Australia’s stock market struggled to regain ground during the pandemic, even as many others like the U.S. surged as investors continued their love affair with all things tech.
Next year will likely be a different story: With a vaccine-fueled global rebound benefiting cyclical shares, Australian stocks are set to shine.
Strategists from AMP Capital Investors Ltd. and Commsec expect the local benchmark to reach a record high in 2021, while Macquarie Group Ltd. forecasts double-digit returns amid a recovery in earnings on economic stimulus and rising commodity prices. The S&P/ASX 200 Index is 5.7% below its record reached in February this year.