Thursday was an unexpectedly shocking day for Wall Street as it fell as the measure of consumer spending unexpectedly suffered a massive decline at the end of 2018, even after the holiday season, recreating expectations for slowing growth in the world’s largest economy.
The Dow Jones Industrial Average fell above 100 points or 0.5%, along with S&P 500 and the Nasdaq Composite, which fell by 0.4% and 0.1% respectively. Retail sales faced a fall of 1.2% in December, informed Commerce Department as per The Street. This plunge is the largest drop since September 2009.
The market opened at 25,460.65 and closed at 25,439.39. It reached its peak at 25,558.90 points, while the lowest point was marked at 25,308.09.
Looking at the current market situation, one of the Twitter users, @ThinkTankCharts tweeted:
“The Dow Jones – negative RSI divergence proved to be a NT selling point, with the Retail Sales number. The evening star was negated with yesterday’s movement.”
Another user @Jimboconnor, said:
“Dow Jones 4Hr, finally breaking trend from Dec….Warning sign of a turn? “
However one of the Twitter users, @Infinitrade1, seems very positive as he/she advised people to trade Dow Jones, saying:
“The optimism of investors is rising as they expect the Dow Jones to surge following the trade deal talks between president Donald Trump and China. The Dow Jones could retain its momentum in the midst of the struggle of China.
Trade Dow Jones now!
#infinitrade #dowjones #stock”
Subscribe to AMBCrypto’s Newsletter
Financial Conduct Authority [FCA] issues warning against fraud cryptocurrency clone firm
The Financial Conduct Authority (FCA) has warned people of a cryptocurrency clone firm, going by the name – ICAP Crypto. It is a crypto-clone company of the ICAP Europe Limited. Their modus operandi is that they use the information of people taken from a credible firm and show themselves as a legit organization.
The original firm goes with the name ICAP Europe Limited, which is registered and legalized by the FCA. The clone company has been using the credentials of the true company and scamming people.
FCA, in the past too, have warned investors of two such companies that were cloning themselves as cryptocurrency firms. The firms went by the names Fair Oaks Crypto and Good Crypto. Fair Oaks Crypto targeted people by cloning itself with Fair Oaks Capital, while the latter, Good Crypto tagged itself with Corporate Finance and scammed people by misrepresenting the registered information of the people.
Forex and crypto backers have been scammed to the tune of $34 million by these companies in the near past, according to a statement by the FCA. The FCA is also looking at banning “high-risk derivative products connected to cryptocurrencies”. FCA has given permission to three blockchain enterprises to work under its regulatory body.
Subscribe to AMBCrypto’s Newsletter
Bitcoin [BTC]: General manager of BIS says Bitcoin and blockchain technology should be explored to its limits
Bitcoin [BTC]: Mati Greenspan claims ‘$200 move can easily lead to a $2,000 move’
Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC and LTC bulls defend position
Dubai-based exchange BitOasis allegedly delists Monero [XMR], ZCash [ZEC] without informing users
Kraken’s Austin Alexander says cryptocurrency space is ‘moving fast’, making it difficult for staffing
Tron [TRX] announces future trading on OKEx platform from May 20
Bitcoin’s [BTC] Lightning Network is awesome, says Blockstream’s Samson Mow
Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki
Bitcoin Cash’s [BCH] Roger Ver adds Coinbase and Binance to his ‘safe list’
Bittrex transfers 6,999,999 XRP to Upbit amid Ripple’s alleged report discrepancies
Bitcoin [BTC] is still going to $100,000, claims Heisenberg Capital’s Max Keiser
XRP: Massive amounts of cryptocurrency moved as Ripple, Nexo come into the picture
Satoshi Nakamoto is easy to get through; can be found by fools, claims John McAfee
XRP: Google Chrome extension to detect trustworthiness of select XRP addresses goes live