Hopes rise for US-China trade deal after Mueller report

With President Donald Trump in a stronger position now that the Mueller investigation is out of the way, China has more incentive reach a deal on U.S. trade, analysts say. Over the weekend, U.S. Attorney General William Barr said a nearly two-year investigation by special counsel Robert Mueller did not find enough evidence to make a case against Trump in obstructing justice, or running a campaign that coordinated with Russia’s efforts to influence the 2016 election. “The Mueller report isn’t a g


With President Donald Trump in a stronger position now that the Mueller investigation is out of the way, China has more incentive reach a deal on U.S. trade, analysts say. Over the weekend, U.S. Attorney General William Barr said a nearly two-year investigation by special counsel Robert Mueller did not find enough evidence to make a case against Trump in obstructing justice, or running a campaign that coordinated with Russia’s efforts to influence the 2016 election. “The Mueller report isn’t a g
Hopes rise for US-China trade deal after Mueller report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: evelyn cheng, fred dufour, afp, getty images, -jeffrey wright, us analyst at eurasia group
Keywords: news, cnbc, companies, trump, rise, trade, hopes, hirson, weekend, way, william, twoyear, mueller, china, uschina, deal, report, investigation


Hopes rise for US-China trade deal after Mueller report

With President Donald Trump in a stronger position now that the Mueller investigation is out of the way, China has more incentive reach a deal on U.S. trade, analysts say.

Over the weekend, U.S. Attorney General William Barr said a nearly two-year investigation by special counsel Robert Mueller did not find enough evidence to make a case against Trump in obstructing justice, or running a campaign that coordinated with Russia’s efforts to influence the 2016 election.

“The Mueller report isn’t a game changer, but it should encourage China to keep up recent momentum in trying to finalize a deal with Trump,” Michael Hirson, Asia director at consulting firm Eurasia Group, said in an email to CNBC.

“China will still have redlines, and a deal is by no means guaranteed, but the fact that an impeachment looks less likely will be meaningful for Beijing’s calculus,” Hirson said. “One question now is whether Trump himself decides that he now has more leverage over Beijing and drives a harder line in negotiations.”


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: evelyn cheng, fred dufour, afp, getty images, -jeffrey wright, us analyst at eurasia group
Keywords: news, cnbc, companies, trump, rise, trade, hopes, hirson, weekend, way, william, twoyear, mueller, china, uschina, deal, report, investigation


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Stock market winners list this year features odd bedfellows in ‘FANG’ and utility stocks

But the stock market is again in a phase where inequality issues among stocks, sectors and investment styles have become stark. This is why the FANG club and other popularly anointed growth stocks in its orbit do well when the market is clinging to “quality” and “defensive growth.” FANG (Facebook, Amazon, Netflix and Google parent Alphabet) plus Microsoft (now the largest stock in the market and very much grouped with FANG) make up 12.6 percent of the S&P 500 market value. For the entire S&P 500


But the stock market is again in a phase where inequality issues among stocks, sectors and investment styles have become stark. This is why the FANG club and other popularly anointed growth stocks in its orbit do well when the market is clinging to “quality” and “defensive growth.” FANG (Facebook, Amazon, Netflix and Google parent Alphabet) plus Microsoft (now the largest stock in the market and very much grouped with FANG) make up 12.6 percent of the S&P 500 market value. For the entire S&P 500
Stock market winners list this year features odd bedfellows in ‘FANG’ and utility stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: michael santoli, adam jeffery
Keywords: news, cnbc, companies, stocks, odd, names, way, winners, utility, features, fang, 500, groups, list, bedfellows, market, stock, real, sp, growth


Stock market winners list this year features odd bedfellows in 'FANG' and utility stocks

The markets are never fully democratic or egalitarian in their allocation of rewards and burdens. But the stock market is again in a phase where inequality issues among stocks, sectors and investment styles have become stark.

As in the broader society, this divide between haves and have-nots has triggered a debate about what it means for the long-term health of the market.

Even before the indexes staggered Friday, with the S&P 500 dropping 1.8 percent from a five-month high, the performance across the expanse of the market had been uneven, with select groups of stocks leading and many others wallowing.

The tape has shown a strong preference for very big companies over smaller ones, organic-growth vehicles over economically cyclical plays and groups offering a reliable stream of cash flow and income over all others.

Starting with the broad numbers, only a minority of stocks are in an uptrend, trading above their 200-day average, even as the broad indexes themselves have spent most of the past two months above theirs.

Jonathan Krinsky of Bay Crest Partners shows fewer than 40 percent of the inclusive Russell 3000 index are above their 200-day mark.

Source: Bay Crest Partners

This largely reflects the way small-cap stocks have rolled over in recent weeks, with new money congregating in the familiar giants of the Nasdaq. A one-month comparison of the Invesco Nasdaq 100 ETF (QQQ) and the small-cap Russell 2000 illustrates this split.

Source: Yahoo Finance

After leading the ferocious market bounce off the late-December bottom, value stocks and more cyclical names have given way to big growth names with less reliance on a pickup in economic activity.

Another way to view this: Stocks that act more like bonds are what investors prefer at the moment. Certainly this is behind the strong outperformance of the real estate and utilities sectors, which both hit fresh highs last week. Every S&P utility stock is above its 50-day average, as are 88 percent of real estate names and 78 percent of the consumer-staples sector.

But this is not just about dividend income holding appeal in a yield–scarce world. Big, dominant tech platforms and global branded-goods companies also get credit in the market’s unspoken logic as bond surrogates. Their cash flows are seen as durable and are expected to continue for many years to come.

This is why the FANG club and other popularly anointed growth stocks in its orbit do well when the market is clinging to “quality” and “defensive growth.” This also means the stocks that appear more expensive have been more in demand — making them more expensive. (Utilities, real estate, tech and staples — the strongest groups lately — are also the only ones with a premium valuation to the S&P 500.)

FANG (Facebook, Amazon, Netflix and Google parent Alphabet) plus Microsoft (now the largest stock in the market and very much grouped with FANG) make up 12.6 percent of the S&P 500 market value.

That’s about one-eighth of the index, comprised of five stocks. The blended price/earnings multiple on 2019 forecast profits of FANG-plus-Microsoft is 29.5. For the entire S&P 500, the P/E is 16.6. For the 495 S&P 500 names aside from FANG-plus-Microsoft, the multiple is 14.8.


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: michael santoli, adam jeffery
Keywords: news, cnbc, companies, stocks, odd, names, way, winners, utility, features, fang, 500, groups, list, bedfellows, market, stock, real, sp, growth


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Rethinking Brexit is the only way forward

Perhaps the best one can hope for this coming week in the United Kingdom, in light of a slightly extended Brexit deadline to April 12, is something akin to a failed suicide. As is sometimes the case after narrowly escaped tragedy, the potential victim draws meaning from the exhilaration of unexpected survival. Perhaps, British legislators will see this reexamination as the only alternative, having soundly rejected Prime Minister Theresa May’s Brexit plan twice – an agreement the EU has insisted


Perhaps the best one can hope for this coming week in the United Kingdom, in light of a slightly extended Brexit deadline to April 12, is something akin to a failed suicide. As is sometimes the case after narrowly escaped tragedy, the potential victim draws meaning from the exhilaration of unexpected survival. Perhaps, British legislators will see this reexamination as the only alternative, having soundly rejected Prime Minister Theresa May’s Brexit plan twice – an agreement the EU has insisted
Rethinking Brexit is the only way forward Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-22  Authors: fred kempe, clodagh kilcoyne
Keywords: news, cnbc, companies, united, plan, british, way, kingdom, week, forward, referendum, uk, rethinking, eu, brexit, leave


Rethinking Brexit is the only way forward

Perhaps the best one can hope for this coming week in the United Kingdom, in light of a slightly extended Brexit deadline to April 12, is something akin to a failed suicide. As is sometimes the case after narrowly escaped tragedy, the potential victim draws meaning from the exhilaration of unexpected survival.

Perhaps, by some miracle in the coming days, wiser heads in the UK government and parliament can construct a longer Brexit extension for a year or more that would allow a period of national reflection, resulting possibly in a new general election or even a second referendum, a so-called “people’s vote,” on whether to leave the European Union under now-known terms.

Perhaps, British legislators will see this reexamination as the only alternative, having soundly rejected Prime Minister Theresa May’s Brexit plan twice – an agreement the EU has insisted it won’t renegotiate. They voted as well against the only other outcome on offer: a hard, no-deal Brexit with all its devastating economic consequences.

The process of elimination would seem to leave only one logical way forward.

So perhaps it is not too late for one of the world’s great parliamentary democracies to come to its senses and concede that the country knows now what was unclear at the time of the June 2016 referendum: the United Kingdom will be economically poorer and politically less influential under any Brexit plan. The run-up alone by one estimate is costing the British economy 40 billion pounds annually and 2 percent of GDP.

Perhaps even Brexit advocates will have learned that their argument that leaving the EU would allow British citizens to “take back control” of their country was always a false premise. Nothing could have made that clearer than the huddle of 27 European leaders this week, laying down the final terms dictating when exactly the British people will leave the EU and under which circumstances.

And, perhaps even the most frustrated and angry Eurocrats in Brussels will remind themselves that both Europe and the UK will be less if the current suicidal course isn’t replaced by urgent intervention and reconsideration.

Perhaps, just perhaps, by next week pigs will fly.


Company: cnbc, Activity: cnbc, Date: 2019-03-22  Authors: fred kempe, clodagh kilcoyne
Keywords: news, cnbc, companies, united, plan, british, way, kingdom, week, forward, referendum, uk, rethinking, eu, brexit, leave


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Restaurant Brands CEO: Burger King’s $5 coffee subscription will help it win the breakfast wars

For Burger King, its new $5 monthly coffee subscription is a way to get customers into their stores in the morning to check out their other breakfast offerings. Restaurant Brands International CEO Jose Cil said Thursday that the subscription should get customers to notice its recently overhauled breakfast offerings. “We thought the coffee subscription would be a good way to bring people in, raise some excitement at Burger King,” he said on CNBC’s “Squawk on the Street.” The burger chain also jus


For Burger King, its new $5 monthly coffee subscription is a way to get customers into their stores in the morning to check out their other breakfast offerings. Restaurant Brands International CEO Jose Cil said Thursday that the subscription should get customers to notice its recently overhauled breakfast offerings. “We thought the coffee subscription would be a good way to bring people in, raise some excitement at Burger King,” he said on CNBC’s “Squawk on the Street.” The burger chain also jus
Restaurant Brands CEO: Burger King’s $5 coffee subscription will help it win the breakfast wars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: amelia lucas, sia kambou, afp, getty images
Keywords: news, cnbc, companies, wars, restaurant, win, kings, company, breakfast, way, stores, ceo, customers, portfolio, help, subscription, burger, coffee, series, king


Restaurant Brands CEO: Burger King's $5 coffee subscription will help it win the breakfast wars

Subscriptions have become popular across industries — from New York Mets tickets to exercise bikes — as a lucrative way to build brand loyalty. For Burger King, its new $5 monthly coffee subscription is a way to get customers into their stores in the morning to check out their other breakfast offerings.

Restaurant Brands International CEO Jose Cil said Thursday that the subscription should get customers to notice its recently overhauled breakfast offerings.

“We thought the coffee subscription would be a good way to bring people in, raise some excitement at Burger King,” he said on CNBC’s “Squawk on the Street.”

The battle between fast food restaurants, from McDonald’s to Dunkin’, to get customers through their doors in the early morning has been ramping up over the last few years, but Burger King is the first to turn to subscriptions.

The burger chain also just introduced the Burger King Cafe brand, following the lead of rival McDonald’s McCafe.

Cil took the reins of Burger King’s parent company in January amid a series of management series. Prior to becoming chief executive, he had served as president of Burger King since 2014.

The company has also been investing in digital across all of its portfolio. Another company in Restaurant Brands’ portfolio, Canadian coffee chain Tim Horton’s, just launched a loyalty program Wednesday in an effort to sell 8 out of every 10 cups of coffee in Canada at its stores. It already sells 7 out of every 10 in the country.


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: amelia lucas, sia kambou, afp, getty images
Keywords: news, cnbc, companies, wars, restaurant, win, kings, company, breakfast, way, stores, ceo, customers, portfolio, help, subscription, burger, coffee, series, king


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2020 hopeful Beto O’Rourke says he’d rather see Big Tech regulated than broken up

Presidential hopeful Beto O’Rourke said Wednesday he’d rather see Big Tech regulated than broken up. Facebook, Google and Twitter have faced something of a reckoning in recent years, in light of revelations around foreign disinformation campaigns on the platforms. Each company has since removed accounts and posts that purported to be U.S. citizens and stoked debate around divisive political and social issues. Warren’s proposal to break up tech giants — which also included Amazon and Apple — stem


Presidential hopeful Beto O’Rourke said Wednesday he’d rather see Big Tech regulated than broken up. Facebook, Google and Twitter have faced something of a reckoning in recent years, in light of revelations around foreign disinformation campaigns on the platforms. Each company has since removed accounts and posts that purported to be U.S. citizens and stoked debate around divisive political and social issues. Warren’s proposal to break up tech giants — which also included Amazon and Apple — stem
2020 hopeful Beto O’Rourke says he’d rather see Big Tech regulated than broken up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: sara salinas, scott eisen, getty images
Keywords: news, cnbc, companies, orourke, sen, hopeful, giants, proposal, user, social, tech, hed, regulated, beto, 2020, broken, big, privacy, platforms, way


2020 hopeful Beto O'Rourke says he'd rather see Big Tech regulated than broken up

Presidential hopeful Beto O’Rourke said Wednesday he’d rather see Big Tech regulated than broken up.

The comments take a slightly different tack than Sen. Elizabeth Warren and her proposal to dismantle some of Silicon Valley’s giants, but ultimately pit another Democratic 2020 candidate against the likes of Facebook and Google.

“I’m not sure if having five more Facebooks — if you broke up Facebook into five component parts, or any of these other large social media or technology companies — makes as much sense as regulating them, given the power they have [and] the way in which they can be used, wittingly or not, to undermine our democracy and affect the outcomes of our elections,” O’Rourke said at a meet and greet in New Hampshire, according to the CNN reporter who asked the question of the candidate.

Facebook, Google and Twitter have faced something of a reckoning in recent years, in light of revelations around foreign disinformation campaigns on the platforms. Each company has since removed accounts and posts that purported to be U.S. citizens and stoked debate around divisive political and social issues.

Warren’s proposal to break up tech giants — which also included Amazon and Apple — stemmed more from concerns around competition, while O’Rourke appears to be focusing on user privacy and abuse of ad-based business models.

“I think the best way to approach the fact that people have become the products on these platforms — that our privacy has been violated; that we’re confronted with 37-page user agreements … is to regulate them more seriously, and perhaps to treat them a little bit more like a utility,” O’Rourke said.

WATCH: Why this expert says Sen. Warren’s call to break up big tech needs work


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: sara salinas, scott eisen, getty images
Keywords: news, cnbc, companies, orourke, sen, hopeful, giants, proposal, user, social, tech, hed, regulated, beto, 2020, broken, big, privacy, platforms, way


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PayPal CEO Dan Schulman on exactly how the company closed its pay gap

PayPal CEO Dan Schulman on exactly how the company closed its pay gap13 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. PayPal has been working to close its pay gap, and has developed a way to do just that. See how CEO Dan Schulman explained the process.


PayPal CEO Dan Schulman on exactly how the company closed its pay gap13 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. PayPal has been working to close its pay gap, and has developed a way to do just that. See how CEO Dan Schulman explained the process.
PayPal CEO Dan Schulman on exactly how the company closed its pay gap Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21
Keywords: news, cnbc, companies, paypal, way, view, schulman, company, browser, ceo, pay, flash, exactly, enabled, working, gap, closed, dan


PayPal CEO Dan Schulman on exactly how the company closed its pay gap

PayPal CEO Dan Schulman on exactly how the company closed its pay gap

13 Hours Ago

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

PayPal has been working to close its pay gap, and has developed a way to do just that. See how CEO Dan Schulman explained the process.


Company: cnbc, Activity: cnbc, Date: 2019-03-21
Keywords: news, cnbc, companies, paypal, way, view, schulman, company, browser, ceo, pay, flash, exactly, enabled, working, gap, closed, dan


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How Kayla Itsines spent her first big paycheck

How Kayla Itsines spent her first big paycheck15 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. SWEAT founder and trainer Kayla Itsines spent her first paycheck in the sweetest way.


How Kayla Itsines spent her first big paycheck15 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. SWEAT founder and trainer Kayla Itsines spent her first paycheck in the sweetest way.
How Kayla Itsines spent her first big paycheck Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21
Keywords: news, cnbc, companies, paycheck, trainer, view, browser, try, flash, kayla, big, enabled, spent, itsines, way


How Kayla Itsines spent her first big paycheck

How Kayla Itsines spent her first big paycheck

15 Hours Ago

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

SWEAT founder and trainer Kayla Itsines spent her first paycheck in the sweetest way.


Company: cnbc, Activity: cnbc, Date: 2019-03-21
Keywords: news, cnbc, companies, paycheck, trainer, view, browser, try, flash, kayla, big, enabled, spent, itsines, way


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‘It is impossible’ for US-Russia relations to improve while sanctions are in place, Deripaska says

Russian tycoon Oleg Deripaska, a close confidant of Russian President Vladimir Putin, said on Sunday that Moscow and Washington are more interested in “muscle flexing” than improving their relationship. Asked whether he has hopes of thawing tensions between Russia and the West while economic sanctions are in place, Deripaska replied: “The way I see it, from the U.S. side, it is impossible.” “If you look at the reality, Russian people (and) American people, they don’t hate each other,” he told CN


Russian tycoon Oleg Deripaska, a close confidant of Russian President Vladimir Putin, said on Sunday that Moscow and Washington are more interested in “muscle flexing” than improving their relationship. Asked whether he has hopes of thawing tensions between Russia and the West while economic sanctions are in place, Deripaska replied: “The way I see it, from the U.S. side, it is impossible.” “If you look at the reality, Russian people (and) American people, they don’t hate each other,” he told CN
‘It is impossible’ for US-Russia relations to improve while sanctions are in place, Deripaska says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: sam meredith, natasha turak
Keywords: news, cnbc, companies, place, impossible, way, improve, treasury, deripaska, flexing, muscle, sanctions, russian, wider, moscow, relations, west, usrussia


'It is impossible' for US-Russia relations to improve while sanctions are in place, Deripaska says

Russian tycoon Oleg Deripaska, a close confidant of Russian President Vladimir Putin, said on Sunday that Moscow and Washington are more interested in “muscle flexing” than improving their relationship.

Asked whether he has hopes of thawing tensions between Russia and the West while economic sanctions are in place, Deripaska replied: “The way I see it, from the U.S. side, it is impossible.”

“If you look at the reality, Russian people (and) American people, they don’t hate each other,” he told CNBC’s Geoff Cutmore during an exclusive interview in Moscow. “In the heart of the Russian people, I think there is room to go and start a new page but the problem is all of this muscle flexing from both sides.”

Deripaska on Friday filed a lawsuit against the U.S. Treasury Department to lift the sanctions it placed on him last year as part of a wider retaliation for Russian interference in the U.S. election and what the Treasury described as its “malign activity around the globe.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: sam meredith, natasha turak
Keywords: news, cnbc, companies, place, impossible, way, improve, treasury, deripaska, flexing, muscle, sanctions, russian, wider, moscow, relations, west, usrussia


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Cboe to stop listing bitcoin futures as interest in crypto trading cools

The major U.S. exchange company that paved the way for bitcoin futures has had a change of heart. Cboe Global Markets, which rolled out the first bitcoin futures contracts in December 2017, has decided to stop adding new ones. In a statement last week, the Cboe Futures Exchange said it will not add new bitcoin futures in March. In the meantime, active bitcoin contracts are still available to trade, but the last of them expires in June. Its Chicago-based rival CME Group debuted its own cash-settl


The major U.S. exchange company that paved the way for bitcoin futures has had a change of heart. Cboe Global Markets, which rolled out the first bitcoin futures contracts in December 2017, has decided to stop adding new ones. In a statement last week, the Cboe Futures Exchange said it will not add new bitcoin futures in March. In the meantime, active bitcoin contracts are still available to trade, but the last of them expires in June. Its Chicago-based rival CME Group debuted its own cash-settl
Cboe to stop listing bitcoin futures as interest in crypto trading cools Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: kate rooney, jim young, bloomberg, getty images
Keywords: news, cnbc, companies, futures, interest, crypto, trading, contracts, marketplace, cools, bitcoin, volume, exchange, near, stop, listing, investors, way, cboe


Cboe to stop listing bitcoin futures as interest in crypto trading cools

The major U.S. exchange company that paved the way for bitcoin futures has had a change of heart.

Cboe Global Markets, which rolled out the first bitcoin futures contracts in December 2017, has decided to stop adding new ones. In a statement last week, the Cboe Futures Exchange said it will not add new bitcoin futures in March. It did not rule out the possibility of other cryptocurrency derivatives, though, and “is assessing” its approach for how it plans to continue.

In the meantime, active bitcoin contracts are still available to trade, but the last of them expires in June.

Futures are a way for investors to bet on whether the price of a commodity — in this case bitcoin — will rise or fall. The contracts expire each month, meaning an exchange has to continuously list more if it wants to keep the market alive.

The move by Cboe highlights cooling enthusiasm for bitcoin after an all-out mania led by retail investors in 2017. When the “XBT” futures launched in December of that year, bitcoin was trading near $17,000. Not long after, it shot to almost $20,000. Prices have come crashing down by 80 percent since. Bitcoin was trading near $4,000 as of Monday afternoon.

Cboe was not the only exchange to try to capitalize on the bitcoin frenzy. Its Chicago-based rival CME Group debuted its own cash-settled bitcoin contracts, also denominated in U.S. dollars, and has not announced any changes. CME’s version has historically seen more trading volume. CME bitcoin futures’ 30-day average volume is more than four times larger than Cboe’s.

When they were introduced, futures gave investors a way to buy and sell cryptocurrency in a regulated marketplace. Those in favor of it said it would be a way to usher institutional investors into the bitcoin marketplace. There has been little evidence of that happening in the form of crypto derivatives.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: kate rooney, jim young, bloomberg, getty images
Keywords: news, cnbc, companies, futures, interest, crypto, trading, contracts, marketplace, cools, bitcoin, volume, exchange, near, stop, listing, investors, way, cboe


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Cboe to stop listing bitcoin futures as interest in crypto trading cools

The major U.S. exchange company that paved the way for bitcoin futures has had a change of heart. Cboe Global Markets, which rolled out the first bitcoin futures contracts in December 2017, has decided to stop adding new ones. In a statement last week, the Cboe Futures Exchange said it will not add new bitcoin futures in March. In the meantime, active bitcoin contracts are still available to trade, but the last of them expires in June. Its Chicago-based rival CME Group debuted its own cash-settl


The major U.S. exchange company that paved the way for bitcoin futures has had a change of heart. Cboe Global Markets, which rolled out the first bitcoin futures contracts in December 2017, has decided to stop adding new ones. In a statement last week, the Cboe Futures Exchange said it will not add new bitcoin futures in March. In the meantime, active bitcoin contracts are still available to trade, but the last of them expires in June. Its Chicago-based rival CME Group debuted its own cash-settl
Cboe to stop listing bitcoin futures as interest in crypto trading cools Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: kate rooney, jim young, bloomberg, getty images
Keywords: news, cnbc, companies, futures, interest, crypto, trading, contracts, marketplace, cools, bitcoin, volume, exchange, near, stop, listing, investors, way, cboe


Cboe to stop listing bitcoin futures as interest in crypto trading cools

The major U.S. exchange company that paved the way for bitcoin futures has had a change of heart.

Cboe Global Markets, which rolled out the first bitcoin futures contracts in December 2017, has decided to stop adding new ones. In a statement last week, the Cboe Futures Exchange said it will not add new bitcoin futures in March. It did not rule out the possibility of other cryptocurrency derivatives, though, and “is assessing” its approach for how it plans to continue.

In the meantime, active bitcoin contracts are still available to trade, but the last of them expires in June.

Futures are a way for investors to bet on whether the price of a commodity — in this case bitcoin — will rise or fall. The contracts expire each month, meaning an exchange has to continuously list more if it wants to keep the market alive.

The move by Cboe highlights cooling enthusiasm for bitcoin after an all-out mania led by retail investors in 2017. When the “XBT” futures launched in December of that year, bitcoin was trading near $17,000. Not long after, it shot to almost $20,000. Prices have come crashing down by 80 percent since. Bitcoin was trading near $4,000 as of Monday afternoon.

Cboe was not the only exchange to try to capitalize on the bitcoin frenzy. Its Chicago-based rival CME Group debuted its own cash-settled bitcoin contracts, also denominated in U.S. dollars, and has not announced any changes. CME’s version has historically seen more trading volume. CME bitcoin futures’ 30-day average volume is more than four times larger than Cboe’s.

When they were introduced, futures gave investors a way to buy and sell cryptocurrency in a regulated marketplace. Those in favor of it said it would be a way to usher institutional investors into the bitcoin marketplace. There has been little evidence of that happening in the form of crypto derivatives.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: kate rooney, jim young, bloomberg, getty images
Keywords: news, cnbc, companies, futures, interest, crypto, trading, contracts, marketplace, cools, bitcoin, volume, exchange, near, stop, listing, investors, way, cboe


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