Tag: Yahoo Finance

Elon Musk, Tesla take shots at the Ford F-150

Elon Musk took to Twitter to show the strength of the new Cybertruck in a video showing the pickup towing the Ford F-150. The legacy carmaker says the test was a gimmick, without disclosing the model of the F-150 being towed. Ford exec Sunny Madra replied to Musk's tweet, asking the Tesla CEO to send a Cybertruck for an "apples to apples" test. In other Musk news, he says he will testify in his own defense against a defamation lawsuit brought by a British cave explorer....

Bitcoin remains bleak as pressure mounts from death cross

Bitcoin bulls are slowly emerging from the shadows following a gruesome month of price action. The world's largest cryptocurrency by market cap is now more than 30% down from October's peak of $10,350. However, since dramatically falling to lows of $6,500 on Monday, Bitcoin has experienced a 10% bounce back up to the $7,150 region. But the relief rally may all be in vain for Bitcoin as the daily death cross has now come to fruition after weeks of nervous anticipation. With the 50 EMA crossing the 200 EMA to the downside, Bitcoin now looks set to explore a path to yearly lows with a further 60% correction on the horizon. It's worth noting that the exponential moving average deathThe post Bitcoin remains bleak as pressure mounts from death cross appeared first on Coin Rivet....

U.S. consumer confidence ebbing; housing market firming

U.S. consumer confidence fell for a fourth straight month in November amid worries about current business conditions and employment prospects, but remained at levels sufficient to support a steady pace of consumer spending. The housing market, the most sensitive sector to interest rates, is catching up to the Federal Reserve's easy monetary policy stance, which has pushed down mortgage rates from last year's multi-year highs. The rise in housing activity early in the fourth quarter together with a narrowing in the trade deficit suggest some support for the economy as it slows amid cooling consumer spending and persistent weakness in business investment and manufacturing....