Stocks down for the week for the first time since September [Video]

LIVE: #Bitcoin action today -

  • Stocks down and lower for the week for the time since September as hopes for tax reform has the street concerned.
  • And – earnings…scandals… and possible government interference?
  • Just another week in the world of media.
  • Stocks in the red include Redfin as the real estate brokerage site missed on both profit and revenue, Finish Line as Cowen downgrades shares to underperform citing concerns over margins, and Nordstrom – despite an earnings beat, comp sales missed estimates as the department store operator claimed the hurricanes hurt…
  • Stocks in the green today include Esko Bionics on its partnership with Ford to use the company’s exoskeletons for factory workers, JC Penney as the retailer beat on revenue and comp sales, and Nvidia – yes shares surging again to a new all-time high as the chipmaker easily beat on…

Stocks down and lower for the week for the time since September as hopes for tax reform has the street concerned. Plus – the world’s biggest shopping day is here – we have the latest on China’s Singles Day. And – earnings…scandals… and possible government interference? Just another week in the world
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LedgerX Gets U.S. Approval for Derivatives on Digital Currencies

  • NEW YORK — The U.S. Commodity Futures Commission said on Monday it has granted New York-based LedgerX, a bitcoin options exchange, the first license to clear and settle derivative contracts for digital currencies.
  • The license authorizes LedgerX to provide clearing services for fully collateralized digital currency swaps.
  • LedgerX, which was also granted a license to operate as a swap execution facility early this month, initially plans to clear bitcoin options, the CFTC said in a statement.
  • The CFTC, however, also clarified in its statement that the approval of LedgerX’s license “does not constitute or imply a commission endorsement of the use of digital currency generally, or bitcoin specifically.”
  • With the settlement and clearing license, participants in the LedgerX trading platform will be able to hedge bitcoin and other digital currencies using exchange-traded and centrally cleared option contracts.

The U.S. Commodity Futures Commission said on Monday it has granted New York-based LedgerX, a bitcoin options exchange, the first license to clear and settle derivative contracts for digital currencies.
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AMD shares are surging with bitcoin because digital-currency ‘miners’ need its graphics cards

  • AMD shares rose as much as 7 percent Tuesday after the company revealed the dramatic jump in digital currency prices is driving demand for its graphics cards.
  • AMD is one of the market’s best performing stocks in the past year with its shares up nearly 170 percent in the past 12 months through Tuesday morning compared with the S&P 500’s 15 percent return.
  • AMD one-year chart

    Source: FactSet

    Cryptocurrency miners use graphics cards from AMD and Nvidia to “mine” new coins, which can then be sold or held for future appreciation.

  • AMD launched the RX 500 series of graphics cards on April 18.
  • Used AMD RX 470 graphics cards are selling for well over $100 list price on eBay.

AMD told CNBC on Monday the “newly resurgent cryptocurrency mining markets” are driving demand for its graphics cards.
Continue reading “AMD shares are surging with bitcoin because digital-currency ‘miners’ need its graphics cards”

AMD shares are surging with bitcoin because digital currency ‘miners’ need its graphics cards

  • AMD shares rose as much as 7 percent Tuesday after the company revealed the dramatic jump in digital currency prices is driving demand for its graphics cards.
  • AMD is one of the market’s best performing stocks in the past year with its shares up nearly 170 percent in the past 12 months through Tuesday morning compared with the S&P 500’s 15 percent return.
  • AMD one-year chart

    Source: FactSet

    Cryptocurrency miners use graphics cards from AMD and Nvidia to “mine” new coins, which can then be sold or held for future appreciation.

  • AMD launched the RX 500 series of graphics cards on April 18.
  • Used AMD RX 470 graphics cards are selling for well over $100 list price on eBay.

AMD told CNBC the “newly resurgent cryptocurrency mining markets” are driving demand for its graphics cards on Monday.
Continue reading “AMD shares are surging with bitcoin because digital currency ‘miners’ need its graphics cards”

Unlikely Bitcoin play: Digital currency ‘mining’ is boosting demand for AMD’s graphics cards

  • The dramatic jump in digital currency prices this year is driving demand for AMD graphics cards, according to the “The gaming market remains our priority.
  • Cryptocurrency miners use graphics cards from AMD and Nvidia to “mine” new coins, which can then be sold or held for future appreciation.
  • Computer hardware retailers including Newegg, Best Buy and Amazon are sold out of most AMD RX 570 and RX 580 graphics card models as of midday Monday.
  • Nowinstock’s AMD RX 570 Source: Nowinstock.net The strong demand is spreading to older graphics cards as well.
  • “Toward the end of 2013, Bitcoin and Litecoin miners caused a similar shortage by snagging every [AMD] Radeon graphics card they could collectively get their hands on,” PC Gamer wrote Monday.

AMD tells CNBC the “newly resurgent cryptocurrency mining markets” are driving demand for its graphics cards.
Continue reading “Unlikely Bitcoin play: Digital currency ‘mining’ is boosting demand for AMD’s graphics cards”

Unlikely Bitcoin play: Digital currency ‘mining’ is boosting demand for AMD’s graphics cards

Unlikely #bitcoin play: Digital currency mining is boosting demand for AMDs graphics cards

  • The dramatic jump in digital currency prices this year is driving demand for AMD graphics cards, according to the “The gaming market remains our priority.
  • Cryptocurrency miners use graphics cards from AMD and Nvidia to “mine” new coins, which can then be sold or held for future appreciation.
  • Computer hardware retailers including Newegg, Best Buy and Amazon are sold out of most AMD RX 570 and RX 580 graphics card models as of midday Monday.
  • Nowinstock’s AMD RX 570 Source: Nowinstock.net The strong demand is spreading to older graphics cards as well.
  • “Toward the end of 2013, Bitcoin and Litecoin miners caused a similar shortage by snagging every [AMD] Radeon graphics card they could collectively get their hands on,” PC Gamer wrote Monday.

AMD tells CNBC the “newly resurgent cryptocurrency mining markets” are driving demand for its graphics cards.
Continue reading “Unlikely Bitcoin play: Digital currency ‘mining’ is boosting demand for AMD’s graphics cards”