Energy & Commodities
The price of WTI crude oil could be headed for a jump of between 20 percent and 50 percent, judging from a bullish breakout pattern that suggests a major rally could be coming for an asset, and that has occurred just three times for crude this century, an equity strategist told CNBC this week.
“Crude oil has seen what’s called a golden cross on its weekly chart,” Matt Maley, Equity Strategist at Miller Tabak, told CNBC’s “Trading Nation” program.
The so-called golden cross appears on a chart when the short-term moving average of an asset crosses above its long-term moving average. The gold cross chart pattern points to a potential for a major rally…read more.
Bankrupt car-rental firms and Bitcoin-to-the-moon bets are falling out of fashion, as the retail army plunges into the digital art world like never before.
Thanks to collectibles like Pudgy Penguins and the Bored Ape Yacht Club going viral on social media, sales of non-fungible tokens on the largest marketplace, OpenSea, jumped to $3 billion in August. That’s more than 10 times the tally in the prior month, and the exchange is now routinely the no. 1 user of computing power on the Ethereum network.
Day traders are going all-in on computer-generated avatars, leaving rival speculative trades like mainstream cryptocurrencies and meme stocks in the dust. Even as Bitcoin rebounds to $50,000, tell-tale signs of euphoria from leverage to collateral are far below the May peak. Meanwhile Wall Street data suggests the zeal among the Robinhood crowd for trading U.S. equities and options is easing…read more.
How much of the modern world is powered by chip-tech? From computers and TVs to cars and washing machines, chips (or semiconductor devices) enable almost all of our digital goods.
When the COVID-19 pandemic brought the regular world to a halt, it put a focus on our increasingly digital world and personal electronics. Even as consumption of major purchases like vehicles slowed down, more than 1 trillion chips were shipped globally in 2020.
As economies picked up and demand increased across all goods, a global semiconductor shortage started to impact the largest companies and economies in the world. All of a sudden, the global semiconductor field was front-and-center in the minds of politicians, executives, and investors…read more.
Drew Roberts couldn’t wait to get out of Toronto.
After he and his girlfriend managed to find work in Kingston, Ont. they found the same problem: even 260 kilometres to the east, the dream of home ownership was still out of reach.
“We left Toronto in search of a more stable career in our respective fields,” said Roberts, a 32-year-old scientist. “We wanted a city with a slower pace in which we could grow our roots.”
When planning to make the move in spring of 2021, Roberts said he kept an eye on the local real estate market, but said prices had already swelled beyond their budget so they instead moved into a rental…read more.
Canadian pipeline operator Enbridge Inc notified oil shippers on Wednesday that it would offer capacity for 620,000 barrels per day (bpd) on its Line 3 oil pipeline starting in October, signaling confidence in completing the long-delayed project.
The aging pipeline, which Enbridge is replacing, carries oil from Alberta to U.S. Midwest refiners. The replacement will eventually allow Enbridge to double capacity to 760,000 bpd.
Enbridge said in its notice to shippers, seen by Reuters, that its planned capacity is subject to finishing construction activities to replace the aging line in Minnesota…read more.
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