'No place to hide': The stock market's sell-off has left investors scrambling for cover
- The market's sell-off since the beginning of October has left investors with few places to hide.
- Under the market's surface, each sector has undergone starkly different declines at different periods, according to a newly released Wells Fargo analysis pinpointing low stock correlation — individual stocks moving out of sync with one another, rather than in tandem — as the primary reason for the uneven price action.
- The sell-off since the market's top in late September and early October has been fueled in part by uncertainty around the US-China trade war, rising interest rates, and concerns about slowing global growth.
- By comparison, it traded above 50 during the sell-offs that took place this past February and in August 2015 (the instances Chintawongvanich points out).
Meet the $212 selfie drone that does all the work for you
- You can top all that off with this: the Hover Camera Passport Self-Flying 4K Drone is cool.
- Even at almost 47 percent off, it’s $212.50 price tag with promo code ‘MERRY15’ may make it cost prohibitive for anybody who’s not among your nearest and dearest.
- Essentially, the Hover Camera Passport is like having your own personal photographer floating around you as you embark on your adventures.
- The Hover Camera Passport locks on to you via facial recognition, automatically follows your movements and captures pictures or full 4K video, even while you stay in motion.
- From cool “set it and forget it” pics to just the wow factor as it casually floats at your side, the Hover Camera Passport really has to be seen to be truly appreciated.
- Retailing for $399.99, jump on this limited time deal to grab one now at just $212.50 with promo code: MERRY15.
Day 4 of TNW’s Advent Deals: headphones and a hybrid laptop
- Want yesterday’s advent deals?
- If you’re on the hunt for a decent pair of wireless headphones for day-to-day use, the Plantronics Backbeat Go 3 could be right down your alley.
- They don’t just sound good, you can also use the Backbeat Go 3 to control your phone (like turning up the volume or activating Siri).
- This deal also comes with a charging case, so your beloved earphones will never be without battery.
- Dell is running a strong discount on this device, which could be a great buy if you’ve been on the hunt for a hybrid device that’ll let you type as easily as draw.
- If your beloved fitness fanatic has put headphones on their Christmas list, you could do much worse than this pair.
- This post includes affiliate links to products that you can buy online.
Crypto Market Risks Dip Below $100B After Dropping $15 Billion in 1 Week
- Major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) performed poorly against the U.S. dollar, experiencing losses above the 10 percent mark.
- Out of the three most valuable crypto assets in the space, the Ethereum price suffered the worst drop as ETH declined by more than 13 percent from $98 to $84.
- The Bitcoin price has performed relatively well in comparison to other major crypto assets and small market cap tokens in the past seven days.
- Major markets like South Korea and Japan have also started to demonstrate a noticeable decline in volume and overall demand for the asset class.
- For the first time since Aug 2017, the crypto market is set to drop below the $100 billion mark, mostly fueled by the underwhelming performance of low volume cryptocurrencies.
Xerox Downgraded to Junk by Moody's, Joins Growing Number of Fallen Angels
- is the newest addition to the set of companies downgraded to junk from investment grade.
- After being downgraded by Fitch Ratings in August, Moody’s Investors Service followed suit Friday, citing an uncertain revenue base amid a decline in demand for copy and printing services as well as intense global competition.
- The company’s notes due in 2021 widened 56 basis points to 300 above Treasuries in Friday’s session, according to Trace price data, and were the most active in the investment-grade market.
- Credit-default swaps on the company widened 33 basis points to 349, data from CMA show.
- There are concerns that a number of BBB rated companies, the lowest-rated rung of the high-grade space, may become subject to downgrades when the cycle turns as several have spent much of the last decade issuing debt to take advantage of low borrowing costs.
Goldex raises $1M for its marketplace app for 'ethical' physical gold trading
- Goldex, a trading app that claims to power so-called ‘ethical pricing’ for retail gold investments, says it has now raised over £1M ($1.25M) in a pre-series A round led by a group of angels and institutional investors.
- Amongst those participating in the round are Prepaid Financial Services (a European payment card issuer); Gaël de Boissard, former Executive Board Member of Credit Suisse; Richard Balarkas, former President and CEO of Instinets; Nachi Muthu, former global head of IT trading technology at Credit Suisse; Craig James, founder and CEO of Neopay.
- Instead, Goldex routes all clients’ orders to the largest global peer-to-peer gold exchange in five international vaults (London, Zurich, New York, Toronto and Singapore).
- The company claims this ensures an average savings of 8-12% on the trades and attempts therefore to avoid price manipulation as well as improving transparency over charges.
The US Air Force's future air-superiority fighter could cost three times as much as an F-35, watchdog warns
- At that price, PCA would be more than three times that of the average F-35A jet, which is set at about $94 million to capture both the expense of early production lots and the decline in cost as the production rate increases, according the report, which predicts the cost of replacing the Air Force's aircraft inventory from now until 2050.
- CBO's estimates included 35 platforms that will be replacing legacy systems, with six programs making up more than 85 percent of the projected procurement costs cited throughout the report: the F-35, PCA, the KC-46A, the B-21, the C-130J cargo plane as well as the yet-unannounced C-17 replacement.
- If the service wants to increase the availability of its inventory without paying the high price associated with developing a new stealth fighter, it could retire its legacy F-15s and F-16s and buy new ones.
Bitcoin Cash Price Continues to Crater as Fork Aftertaste Lingers
- Indeed, at that point, the two most prominent cryptocurrency hard forks — Ethereum Classic and Bitcoin Cash — had each proven to be a boon to investors who held on to the coins on both sides of the split.
- Absent the sort of black swan event that the cryptocurrency market experienced last year, it seems that when it comes to truly contentious hard forks, the whole may be less than the sum of its parts.
- Before the fork, the bitcoin cash price was trading near $500 with an ~$8 billion market cap that ranked fourth among cryptocurrencies.
- Following the fork, that new cryptocurrency — Bitcoin SV (BSV) — was created, and despite some early struggles its coin price managed to catch up to BCH.
- Prior to the fork, BCH was already trading near an all-time low at approximately 0.08 BTC.
There are reasons to be optimistic about real estate in 2019
- Canada Mortgage and Housing Corporation (CMHC) expects housing prices to move in step with economic fundamentals.
- Housing prices (measured as a composite index) in Vancouver, B.C.’s largest housing market, have been growing at a slower rate since 2016 when British Columbia imposed new transaction taxes on foreign homebuyers.
- At the same time, we are mindful of the concerns about the housing markets in the U.S. Writing in the New York Times, Robert Shiller, a Nobel Laureate in Economics, warns that there is a “limit on how much the prices of existing homes can increase.” He observed that the rapidly accelerating “prices of single-family homes may fall soon” in the U.S. Canadian housing markets avoided the fallout from the last housing market crash in the U.S. In a post-NAFTA world in which Canada is less reliant on the U.S. for trade, it is likely that a future slowdown in the American housing market would be even less of a concern for Canadian housing markets.
Facebook says a bug affecting up to 6.8 million users exposed photos they hadn't shared
- A Facebook bug exposed photos from up to 6.8 million users using third-party apps, the company disclosed Friday.
- The exposed photos include those that users never finished sharing to the site, Facebook said.
- Facebook said that photos that had yet to be shared could have been accessed by apps that users gave permission to access their Facebook photos.
- Facebook said the bug in its photo API affected a 12 day window between Sept.
- Facebook said the bug did not affect photos that were shared in Messenger conversations and that Facebook became aware of the bug and fixed it on Sept.
- The company also advises users log into apps they believe they granted access to Facebook photos to see which photos they have accessed.