Monday, July 26

Markets

Bitcoin, crypto, Cryptocurrencies, digital assets, Ether, Ethereum, Markets, MI Exclusive, Regulation, Singapore

In Singapore, 93% of people have heard of cryptocurrency, 66% of the young own some, and more plan on buying, thanks to the nation’s pro-crypto stance, a survey finds

Singapore flag Emmanuel Dunnand/ Getty Images Most Singaporeans are positive on cryptocurrencies, regardless of age, but it is the country's younger population that is adopting digital coins en masse, thanks to pro-crypto regulation, according to a survey by Australia's Toluna, a consumer insights provider. The survey, which polled around 1,000 people, was conducted in May. It showed 93% of all Singaporeans had heard of crypto and 43% owned it, with adoption highest among 26-45 year-olds. 66% of respondents in that group said they owned some crypto. In the US, only 6% of adults said they invested in bitcoin, according to a recent Gallup poll.The Singapore survey showed 59% believed crypto would reach mass adoption, and 50% believed that bitcoin will be worth more than $367,000 by...
Bitcoin, Markets, MI Exclusive, Stock Market Today, Stocks, Stocks 2021, stocks and the economy, ukmarketwrap

US stock futures slip ahead of Tesla earnings in the wake of Asia’s rout, while bitcoin surges past $38,000

Spencer Platt/Getty Images US stocks looked set to open in the red on Monday ahead of Tesla's second-quarter earnings, as Asian equities plunged to a yearly low over tighter government regulations.Futures on the Dow Jones, S&P 500, and Nasdaq fell 0.3%, suggesting a lower start to trading later in the day.Over one third of the S&P 500 companies are set to report earnings results this week, including the biggest tech firms. Elon Musk's electric-vehicle maker kicks off on Monday, followed by Alphabet, Apple, Microsoft on Tuesday, and Facebook on Wednesday.Asian markets returned from the weekend on a weaker footing given the series of regulatory crackdowns in China. The tech sector has already been under pressure in recent weeks. But the government has now turned its eye to the educ...
Amazon, Bitcoin, bitcoin as payment, bitcoin price, Cathie Wood, crypto, Crypto assets, Cryptocurrencies, Elon Musk, Jack Dorsey, Markets, MI Exclusive, Tech Insider, The B Word

Bitcoin surges 15% to top $38,000, boosted by comments from influential investors and chatter about Amazon getting into crypto

OZAN ​​KOSE/AFP via Getty Images Bitcoin leapt 15% on Monday to rise above $38,000 for the first time in about six weeks, after remarks from influential commentators and a report that Amazon is considering accepting payments in the cryptocurrency helped restore bullish investor sentiment.The coin was trading at around $38,750 as of 3:15 am ET, representing a 33% gain so far this year. It had earlier hit a 24-hour high of about $39,544, its highest level since mid-June.After being stuck in a descending slope for three months, bitcoin broke out at the top end of recent levels following positive comments from leading CEOs Elon Musk, Jack Dorsey, and Cathie Wood at "The B Word" event last week. Tesla CEO Musk said the electric-vehicle maker would be open to accepting bitcoin as payme...
Cryptocurrencies, cryptocurrency, cryptocurrency analysis, Investing, Investing Insider, Investing Outlook, Investing Recommendations, Investing Strategy, Markets, Stock Market Analysis, Stock Market Outlook, Stock Market Strategy, Stock Picks, Stock Recommendations, Stocks to Buy, stocks to buy in 2021

13 must-see charts, plus an $875 mini bitcoin-mining rig

Hello everyone! Welcome to this weekly roundup of Investing stories from deputy editor Joe Ciolli. Please subscribe here to get this newsletter in your inbox every week. Getty Images / Xinhua News Agency Hello and welcome to Insider Investing. I'm Joe Ciolli, and I'm here to guide you thro...
American time use survey, Bureau of Labor Statistics, Commute, Commute time, commuter, daily commute, Economy, Markets, Transportation

The pandemic ended the daily commute

Many Americans stopped commuting daily amid lockdowns and working from home in the last year. The average amount of time spent traveling each day dropped from about an hour and 12 minutes in 2019 to 47 minutes in 2020. Only about two-thirds of Americans traveled anywhere on an average day in 2020, down from 84% in 2019. LoadingSomething is loading. ...
Bitcoin, Bitcoin ETF, Bitcoin ETF delay, bitcoin price, crypto, Crypto assets, Cryptocurrencies, Markets, MI Exclusive, SEC, SEC bitcoin

A bitcoin ETF may not be approved by the SEC until 2023 despite surging interest, according to a fund provider that’s already been through the process

Former Commodity Futures Trading Commission Chairman Gary Gensler testifying before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill on July 30, 2013. Photo by Chip Somodevilla/Getty Images The wait for an SEC approved bitcoin ETF might be longer than most think, according to one fund provider that's been through the approval process.William Cai of Wilshire Phoenix doesn't expect the SEC to approve a bitcoin ETF until 2022 or 2023. "A bitcoin ETF is not on his top priority list as far as we can see," Cai said, referring to SEC chief Gary Gensler.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Anticipation for a SEC-approved bitcoin ETF is high, but investors shouldn't hold their breath as it may still be years away from becoming re...
Binance, Changpeng Zhao, crypto, ftx, Markets, MI Exclusive, Sam Bankman-Fried

Sam Bankman-Fried and Binance’s Changpeng Zhao spoke out on dedicating their life’s work to crypto in an interview. Here are their best quotes.

Sam Bankman-Fried, founder and CEO of crypto exchange FTX. FTX Official/YouTube The CEOs of two of the world's top were both recently interviewed by the New York Times on everything from their personal histories to risk and regulation. FTX's Sam Bankman-Fried spoke on excessive leverage, his company moving out of Hong Kong, and why FTX has a US-only branch. Binance's Changpeng Zhao discussed overactive crypto markets, risk, and his "abundance mindset." Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Sam Bankman-Fried and Changpeng Zhao have had a whirlwind few years. The two crypto exchange founders-running FTX and Binance, respectively-have come up during a once-in-a-generation investment surge into crypto. And their exchanges have been right in the cen...
delta variant, Dow Jones, earnings beat, inflation, Markets, MI Exclusive, Q2 earnings, quarterly earnings, s&p 500, S&P 500 forecast, US stocks, Weekend BI UK

The S&P 500 is on track for the best quarterly earnings growth since 2009 as companies smash expectations

LoadingSomething is loading. S&P 500 companies are on track for the best earnings growth since 2009, with companies smashing estimates as the US economy bounces back to life from COVID-19 lockdowns.The strong quarter is helping support stocks despite high equity prices, rising inflation, and the threat of the delta coronavirus variant.Earnings for S&P 500 companies are expected to grow 78.1% year-on-year in the second quarter, according to...
Bitcoin, Blockchain, Celebrity, crypto, Cryptocurrencies, cryptocurrency, digital assets, Markets, MI Exclusive, Raoul Pal, RealVision

RealVision’s Raoul Pal says social tokens are going to be’the next big thing’ for crypto and will grow into a trillion-dollar industry in 5-10 years

crypto coins circle Nurphoto Raoul Pal, former hedge fund manager at Goldman Sachs spoke to Insider about the outlook for the crypto industry. He said social, or community, tokens have the potential to "disrupt businesses' like Disney. He said his RealVision firm will launch a community token within the next year. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Social, or community, tokens are going to be the next big development in the crypto market and have the power to disrupt all kinds of traditional industries, according to RealVision CEO Raoul Pal. Pal, who used to run hedge fund sales at Goldman Sachs, before retiring at 36 and devoting himself to other investments, told Insider in an interview he's so sure social tokens will boom that his company...
Behavioral Economics, Fund Flows, Government Bonds, Markets, MI Exclusive, stock market, stock performance

The performance of your stock portfolio can reflect the kind of music you listen to-with happy tunes correlating to higher returns, according to a top UK academic

Caroline Purser/Getty Images What type of music people listen to is reflected in stock markets, Finance professor Alex Edmans says. There is a correlation between the positivity of music and returns, volatility, fund flows and even government bonds. This is because emotions drive decision making and are reflected in music choices, Edmans argues. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. What type of songs you listen to could be reflected in how your stock portfolio performs, as there is evidence of a correlation between the positivity of the music investors listen to and returns, according to Alex Edmans, who is professor of finance at London Business School .Traditional economic belief is that fundamentals impact markets-but humans aren't automate...