Dow pierces 23,000 as earnings boost the blue chips higher

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  • The Dow (^DJI) pierces 23,000 after strong earnings beats by UnitedHealth (UNH) and Johnson & Johnson (JNJ), but quickly retreats and settles into a low volume trading range for the balance of the day.
  • And, why you should be nervous if you start hearing long SAT words on an earnings conference call.
  • Stocks in the red today include mining company Freeport-MacMoRan (FCX) on a downgrade to “sell” by Deutsche Bank; Impax Laboratories (IPXL) after announcing an all-stock merger with Amneal Pharmaceuticals, which will create the fifth-largest U.S. generics business; and Goldman Sachs (GS), with shares of the investment bank sinking despite a…
  • Stocks on the move higher include United Health (UNH), as the largest U.S. health insurer posted an earnings beat and raised 2017 guidance; Spirit Airlines (SAVE) flying higher, after raising guidance for its third quarter and Biogen (BIIB), after the biotech firm got two upgrades to “buy” — one from…
  • A new Gallup poll finds that 57% of Americans identify as NFL fans — 10 percentage points less than in 2012.

The Dow (^DJI) pierces 23,000 after strong earnings beats by UnitedHealth (UNH) and Johnson & Johnson (JNJ), but quickly retreats and settles into a low volume trading range for the balance of the day. Plus, Gary Cohn speaks to Yahoo Finance in Washington, D.C. The president’s chief economist tells
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Stocks climb to all-time highs as financials jump

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  • Stocks powering to new all-time highs as financials lead the way, and Trump talks up tax reform, again.
  • Plus – what if you received more voting shares, the longer you held the stock?
  • Stocks getting hit today include Sears Holdings as Bruce Berkowitz will leave the board of directors – Berkowitz’s Fairholme Capital is a major shareholder in Sears, Adobe as Deutsche Bank downgraded shares of the creative software company to hold citing a slowing growth trajectory, and Nordstrom – another retail name…
  • Stocks in the green today include Apple as KeyBanc upgraded shares to ‘overweight’ citing the company’s recent moves to segment its customer base with new iPhone pricing, KKR as Goldman upgraded shares of the private equity giant to Buy with a $24 price target, and Ruby Tuesday – shares getting…
  • Rent the Runway looking for liftoff – – Rent the Runway started in 2009 as a clothing rental company mostly focused on that big occasion dress: a benefit, a wedding, the prom.

Stocks powering to new all-time highs as financials lead the way, and Trump talks up tax reform, again. Plus – Netflix earnings any minute now, we’ll have them for you as soon as they break. Plus – what if you received more voting shares, the longer you held the stock? Stocks getting hit today include
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JPMorgan launches payments network using blockchain technology

JPMorgan launches payments network using blockchain technology

  • REUTERS/Mike Segar/File Photo – – (Reuters) – JPMorgan Chase & Co said on Monday it launched a new payment processing network that uses blockchain technology, in partnership with Royal Bank of Canada and Australia and New Zealand Banking Group.
  • Blockchain, a shared ledger of transactions maintained by a network of computers on the internet, is the technology that underpins cryptocurrency bitcoin.
  • The Interbank Information Network will allow payments to reach beneficiaries faster with fewer steps and better security, JPMorgan said on Monday.
  • JPMorgan Chief Jamie Dimon has spoken out against bitcoin, he and other banking executives have lauded the technology.
  • The network will be powered by Quorum, a blockchain technology developed by JPMorgan.

Blockchain, a shared ledger of transactions maintained by a network of computers on the internet, is the technology that underpins cryptocurrency bitcoin. The Interbank Information Network will allow payments to reach beneficiaries faster with fewer steps and better security, JPMorgan said on Monday
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Bitcoin price soars to record high as Harry Redknapp joins digital coin craze

  • The record comes as football manager Harry Redknapp gave his backing to an otherwise unknown British digital currency.
  • The new high on Friday morning means the price of bitcoin has increased more than fivefold since the start of the year, when the digital currency was worth around $1,000.
  • The currency has rebounded in trading on online exchanges in the past month, almost doubling after it fell below $3,000 on September 15.
  • Bitcoin and crytocurrencies have come under increased regulatory scrutiny in the past month, with China banning initial coin offerings, online sales where businesses sell unregulated digital currency to raise funds, generating highly inflated valuations.
  • The digital currency has created many millionaires, but sceptics have called cryptocurrency a bubble, with JP Morgan boss Jamie Dimon labelling the trading “stupid” and “a fraud”.

The price of bitcoin surged to a record high today with one unit of the volatile cryptocurrency worth more than $5,800 (£4,350).
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Tell us what you think: Where does bitcoin go from here?

  • JPMorgan Chase CEO Jamie Dimon might still think those buying bitcoin are “stupid,” but that didn’t stop the cryptocurrency from trading at records above $5,800 last week.
  • Optimism around bitcoin drove its market capitalization above that of Goldman Sachs on Friday, with some market insiders forecasting that figure to reach at least $1 trillion in the next eight years.
  • (The market cap is currently about $93.55 billion, according to industry outlet Coindesk.)
  • Still, the virtual currency remains subject to wild price swings, and attempts by government regulators to crackdown on the cryptocurrency have unsettled investors.
  • Just last month, the price of bitcoin fell around 13 percent following news that one of China’s largest bitcoin exchanges said it would be stopping operations.

It remains to be seen whether the cryptocurrency has more room to climb after crossing the $5,800 mark.
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Tell us what you think: Where does bitcoin go from here?

Tell us what you think: Where does Bitcoin go from here? - CNBC  #bitcoin

  • JPMorgan Chase CEO Jamie Dimon might still think those buying bitcoin are “stupid,” but that didn’t stop the cryptocurrency from trading at records above $5,800 last week.
  • Optimism around bitcoin drove its market capitalization above that of Goldman Sachs on Friday, with some market insiders forecasting that figure to reach at least $1 trillion in the next eight years.
  • (The market cap is currently about $93.55 billion, according to industry outlet Coindesk.)
  • Still, the virtual currency remains subject to wild price swings, and attempts by government regulators to crackdown on the cryptocurrency have unsettled investors.
  • Just last month, the price of bitcoin fell around 13 percent following news that one of China’s largest bitcoin exchanges said it would be stopping operations.

It remains to be seen whether the cryptocurrency has more room to climb after crossing the $5,800 mark.
Continue reading “Tell us what you think: Where does bitcoin go from here?”

IBM far outranks Microsoft as blockchain industry leader, research says

  • Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to a study.
  • Big Blue has been making considerable steps forward with research and development projects aimed at broadening the scope of distributed ledger technology to include industries other than the financial services.
  • Last month it announced a partnership with Nestle, Unilever, Wal-Mart and other food giants to trace the movements of food and tackle contamination faster by using the technology.
  • According to research firm Juniper Research, the corporation is better positioned than competitor Microsoft as far as its blockchain credentials are concerned.
  • More than 40 percent of tech executives and leaders in the blockchain sector ranked IBM as top, with only 20 percent saying the same of Microsoft.

Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to research.
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