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An impressive run in Apple’s stock over the last four weeks has left it vulnerable to a short-term pullback, warns one veteran chart watcher. “Apple is just as overbought as it was in early September of last year just before it rolled over in a significant way,” said Matt Maley, Miller Tabak chief markets strategist. “So it looks like it will need to pullback and digest its gains before it takes a run at breaking above its January all-time highs.” Apple’s relative strength index (RSI) —a key… Source link

By Tom Hals and Sierra Jackson WILMINGTON, Del. (Reuters) – Elon Musk insisted in court on Monday he does not control Tesla Inc and said he did not enjoy being the electric vehicle company’s chief executive as he took the stand to defend the company’s 2016 acquisition of SolarCity. The lawsuit by union pension funds and asset managers alleges the celebrity CEO strong-armed Tesla’s board into wasting the company’s assets to buy SolarCity, which was running out of cash. Musk at the time… Source link

(Bloomberg) — TikTok owner ByteDance Ltd. is working to ensure it complies with data security requirements after meetings with government officials over the issue earlier this year, a person familiar with the matter said. The Chinese tech giant, whose apps also include TikTok’s Chinese twin Douyin and the news aggregator Toutiao, had kicked off initial preparations for an IPO of its domestic assets, Bloomberg News reported in April. ByteDance’s considerations about going public had been… Source link

Bitcoin (BTC) decreased slightly during the week of July 7-12, trading in a range between $35,293 and $32,077. It has broken out from a short-term descending parallel channel and is now trading inside an identical pattern in the medium-term. Bitcoin defends long-term support BTC decreased slightly during the week of July 7-12. It proceeded to reach a low of $32,077 before rebounding slightly and closing at $34,258. It has been trading above the $32,400 horizontal support area since May 19. While… Source link

SEOUL, South Korea, July 12, 2021 /PRNewswire/ — MVL Foundation Pte. Ltd has partnered with TZ APAC – a leading Asia-based public blockchain adoption entity for the Tezos ecosystem – to develop its data business with hybrid blockchain technology, utilizing both Hyperledger Fabric and the Tezos public blockchain. MVL Foundation operates TADA, the world’s first blockchain-based ride-hailing service, which has amassed 1 million users in Southeast Asia since its launch in 2018. MVL aims to… Source link

(Bloomberg) — Asian stocks started the week higher after their U.S. peers chalked fresh records and Treasury yields stabilized after jumping Friday. Shares in Japan outperformed and Hong Kong opened higher. China rose after the central bank cut the amount of cash most banks must hold in reserve to buttress a slowing economic expansion. Australia saw a more modest advance amid a prolonged lockdown in the largest city, Sydney. U.S. contracts fluctuated. The S&P 500 finished last week at… Source link

The buzz lately has been all about growth. Stocks are high, and going higher. The gains we’re seeing now are the current extension of a long-term trend – markets have been rising for several years, and their derailment during last year’s corona crisis appears, in hindsight, to have been blip more than anything else. As President Kennedy said long ago, a rising tide lifts all boats – and right now, a savvy investor can find plenty of boats to jump on. So let’s go find some of those… Source link

Just days from now, Biden is set to gamble a proposed $2.5 trillion on a new plan, in hopes of bringing America’s foundation into the next generation. It’s coming in the form of the biggest infrastructure project since the highway system was built in the 1970s. But with today’s massive infrastructure bill, most people might be missing the real story. That’s because typical “infrastructure” pieces like roads, highways, and bridges don’t even make up the biggest part of the bill. Instead,… Source link

Investors are gearing up for a busy week, with the start of second-quarter earnings season and an onslaught of new economic data on deck. The prospects of another strong quarter for corporate earnings results have been one of the major factors underpinning stocks’ march to new highs as of late. S&P 500 earnings in aggregate are expected to grow by 64% for the second quarter, which would mark the fastest increase since the fourth quarter of 2009, according to FactSet data.  “Corporate… Source link

(Bloomberg) — El Salvador’s declaration of Bitcoin as legal tender could create challenges for both the country and the cryptocurrency, according to a team from JPMorgan Chase & Co. Bitcoin trading volumes commonly exceed $40 billion to $50 billion per day, but most of that is internalized by major exchanges, said a group from JPMorgan including Steve Palacio, Joshua Younger and Veronica Mejia Bustamante, in a report Thursday. A large portion of Bitcoin is locked up in illiquid entities,… Source link