The industrial giant was praised as a “premium large-cap name” in commercial aerospace.
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In this video, I will talk about Fiverr‘s (FVRR -14.21%) fourth-quarter earnings report and discuss whether now is a good time to open a position. While growth might have slowed down, the business is becoming more profitable.
*Stock prices used were from the trading day of Feb. 22, 2024. The video was published on Feb. 22, 2024.
Neil Rozenbaum has positions in Fiverr International. The Motley Fool has positions in and recommends Fiverr International. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
Scheduled for Feb. 15, 2024, the upcoming Bitcoin difficulty retarget is poised to mark a notable upswing in the network. Current projections forecast an estimated difficulty surge ranging from 8.45% to 9.2%, setting the record for the steepest increase of 2024 thus far. Bitcoin Difficulty Poised for a Steep Increase This week, bitcoin (BTC) mining […]
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Anticipations for the upcoming Bitcoin halving event are high in the cryptocurrency community, with hopes of BTC witnessing a massive rally post-event. Nonetheless, several key factors should be considered prior to the halving.
Important Considerations Ahead Of The Impending Bitcoin Halving
Ali Martinez, a famous cryptocurrency analyst has revealed the major key points investors need to watch out for ahead of Bitcoin halving. The analyst shared his opinions on the subject through the social media platform X (formerly Twitter).
In the X post, Martinez pointed out just four important factors to consider as the event drew near. The upcoming halving, expected to take place by April this year, will be the fourth time it has been done.
One of the first and key areas highlighted by Martinez to spot is the post-Bitcoin halving corrections. Martinez stated that within a month following the 2020 and 2026 halvings, BTC saw substantial corrections, which preceded this price surge.
He explained that within a month after the 2016 event, the price of Bitcoin fell by 30%. He also said a similar scenario played out in the 2020 halving, which saw price plummet about 7%.
The Bitcoin halving has always been viewed as a bullish development that leads to a significant rise in the price of BTC. This is primarily due to the fact that as demand increases, the quantity of fresh BTC coming into the market declines.
For the second key point to look out for, Martinez has underscored massive post-halving rallies. According to him, there is typically a sharp increase in the price of Bitcoin after the post-halving drop.
In particular, the expert asserted that after the halvings in 2012, 2016, and 2020, the price of Bitcoin surged by 11,000%, 2,850%, and 700%, respectively. Due to this, many experts anticipate that BTC’s price will reach a new all-time high after the event is concluded.
Significant Change In The Market
Martinez’s third crucial aspect to consider is the bull market durations. As is widely known, every previous halving event often ushers in a bull market.
He then shared a calculative time of how long the market rallied during all the previous halving. Martinez stated that the 2012, 2016, and 2020 bull market lasted for 365 days, 518 days, and 549 days, respectively.
Meanwhile, the last part pointed out by the expert is the next market top. He believes that Bitcoin will get to a new peak by April or October 2025. Martinez anticipates this to take place if only the upcoming event follows historical patterns. So, he has urged the crypto community to be vigilant and observe these patterns.
As of now, BTC is trading a little above $42,000, showing a decrease of almost 2% in the past 24 hours. Its trading volume has increased by 14% today, while its market cap is down by 1.90%.
Featured image from iStock, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Former South Carolina Gov. Nikki Haley drew a sharp line Monday between her views on trade and the tariffs proposed by her rival, Republican front-runner Donald Trump.
“This is a man who now wants to go and put 10% tariffs across the board, raising taxes on every single American. Think about that for a second,” Haley said on CNBC’s Squawk Box.
Trump has repeatedly proposed the idea of a blanket 10% tariff on all imported goods.
“What Donald Trump’s about to do, is he’s going to raise every household’s expenses by $2,600 a year,” said Haley, citing a figure from the fiscally conservative National Taxpayers Union.
“It’s going to raise the cost of anything from baby strollers to appliances, under Donald Trump,” she added. “Middle class families can’t afford that.”
In addition to his proposed 10% universal tariff, Trump has also privately discussed a massive 60% tariff that would be applied to all imports from China, The Washington Post reports.
Over the weekend, Trump suggested tariffs were the way to force automobile manufacturers to build cars in the United States.
“[I] would require China, and other countries, through TARIFFS, or otherwise, to build plants here, with our workers,” Trump wrote on Truth Social.
Experts say the impacts of the scale of trade wars that Trump is proposing are difficult to quantify.
“They can’t model that, because they don’t really understand what the second and third order effects are, and more importantly, they don’t grasp that Trump isn’t talking about a 10% tariff just because it’s a 10% tariff,” Michael Every, a global strategist at Rabobank. recently told CNBC.
Trump “is talking about structurally breaking the global system, by hook or by crook, to basically re-industrialize the U.S. … putting up a barrier between it and the rest of the world so it’s cheap to produce in America and more expensive to produce everywhere else if you’re importing into America,” said Every.
The trade war that Trump waged with China while he was in office is estimated to have cost 245,000 American jobs, according to the U.S.-China Business Council.
This, and Trump’s proposed tariffs if he were elected to a second term have left many Wall Street investors deeply concerned about what the global economy would look like in a second Trump administration.
These concerns have accrued to Haley’s benefit, and she has consistently enjoyed backing from Wall Street donors.
Haley was under pressure from these donors to win in New Hampshire after her third-place finish in the Iowa caucuses. Last week, CNBC reported that LinkedIn co-founder Reid Hoffman did not plan to give more money to Haley after her second place finish in New Hampshire.
But this has not slowed down Haley’s fundraising juggernaut. The Haley campaign says it raised $4 million just last week, a massive haul for the former U.N. ambassador’s presidential bid.
The campaign also has more than 10 high-dollar fundraisers scheduled in the coming weeks, several of which will be in New York City on Monday and Tuesday.
The hosts of a Tuesday night event include Home Depot Co-Founder Ken Langone and billionaire investor Stanley Druckenmiller.
Haley also vowed to stay in the race and said her campaign would keep building up to the Feb. 24 South Carolina primary in her home state.
“It’s far from over. And what I’ll tell you is, look, (Trump) has been literally unhinged ever since I got 43% of the vote in New Hampshire,” Haley told CNBC.
XRP is currently at a critical juncture, as crypto analyst CoinsKid has pointed out. The analyst has raised concerns about the altcoin’s immediate future and emphasizes the urgent need for bullish momentum to prevent a significant downturn.
Bulls Should Step In Quick
In the post shared on X, CoinsKid stressed that if the bulls don’t step in soon, XRP could face a drastic “macro correction,” potentially plummeting its price toward the $0.38 level. This warning follows a period of declining prices for XRP, which has seen the asset struggle to maintain its value.
The analyst elaborated, “Squeaky bum time. TICK TOCK,” highlighting the urgency and the nervous anticipation surrounding XRP’s price movement in the coming days.
This sentiment reflects a broader concern among XRP investors and market observers. The lack of bullish activity in the recent period has left XRP vulnerable to further losses, raising fears that it could slide to its lowest levels in months.
The potential drop to $0.38 would represent a loss in value and mark a new phase of uncertainty for the cryptocurrency. This comes when the broader crypto market is experiencing its own challenges, with various assets facing downward pressure.
We need to see the bulls step in here for #xrp. Otherwise, we could see a bigger macro correction play out towards the 0.786 at $0.38
Squeaky bum time. TICK TOCK pic.twitter.com/jKlBsiXu6h
— CoinsKid (@Coins_Kid) January 19, 2024
XRP Price Action And Bearish Confirmation
XRP’s recent market performance has been far from reassuring for its holders. Over the past week, the asset has seen a decline of more than 10%, and so far, this bearish trend shows no signs of abating. The altcoin is trading below $0.53, a drop of nearly 5% in the past 24 hours.
This downward trajectory is further corroborated by crypto analyst Ali, who has pointed out that should XRP breach the $0.55 level, the altcoin could tumble down to as low as $0.34. Such a drop would take the altcoin to a price point not seen since April 2023, an alarming prospect for investors and the XRP community.
$XRP is currently grappling to maintain its footing at the crucial $0.55 support level. Should this support fail to hold, be prepared for a possible sell-off scenario that could see #XRP descending toward $0.34! pic.twitter.com/6oKObjpnnm
— Ali (@ali_charts) January 18, 2024
Despite this downturn, XRP’s daily trading volume has remained relatively stable, fluctuating between $1.4 billion and $1.2 billion over the past week. At the time of writing, Altcoin’s trading volume was around $1.28 billion.
Featured image from Unsplash, Chart from Tradingview
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Small cap stocks could soar as much as 60% in 2024 on compelling valuations, according to Fundstrat’s Tom Lee.
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Lee told CNBC on Tuesday that the valuation of small caps relative to the S&P 500 haven’t looked this appealing since 1999.
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“That was a launch point for 12 years of gains,” Lee said.
An overlooked area of the stock market is set to soar in 2024 after significantly underperforming the S&P 500 last year, according to Fundstrat’s Tom Lee.
In an interview on Tuesday, Lee told CNBC that small cap stocks could soar as much as 60% this year thanks to compelling valuations relative to the S&P 500.
“I think small caps could make a bigger move [than large cap stocks], you know 50% or 60%. I think the Russell 2000 could end the year above 3,000,” Lee said. The Russell 2000 traded at around 1,910 on Wednesday.
The Russell 2000 trailed the S&P 500 significantly in 2023, gaining about 17% compared to a gain of about 24% for the large cap index. That underperformance has spilled over into 2024. Year-to-date, the Russell 2000 is down about 7% compared to a 1% drop for the S&P 500.
But Lee said that valuation measures make the small cap Russell 2000 index much more compelling when compared to the S&P 500.
“Small caps relative to the S&P 500 on a price-to-book basis is back to where it was in 1999, which was the absolute low and was a launch point of 12 years of outperformance for small caps,” Lee said.
Lee has called small cap stocks his best idea for 2024, in part because of the idea that participation in the ongoing stock market rally is improving and is no longer concentrated in just mega-cap tech stocks, like it was in 2023. If so-called breadth improves in the stock market, then small cap stocks should catch a bid, Lee said in his 2024 outlook.
Lee also said in his 2024 outlook that three factors could help boost small-cap stocks in 2024.
First, fund flows into the stock market are necessary for small cap stocks to outperform, according to Lee. If retail funds aren’t flowing into the stock market, then funds likely aren’t flowing into small cap stocks. That could change in 2024 as investors start to warm up to the stock market.
Second, small cap stocks are highly levered and tend to have a higher cost of capital, so a decline in interest rates should benefit small cap stocks much more than large cap stocks.
Finally, an expansion in economic growth could be a “huge tailwind” for small cap stocks as they are highly exposed to the domestic economy.
Read the original article on Business Insider
U.S. stocks are struggling to advance early in 2024, as investors digest the start of company earnings reports kicked off by Wall Street banks and eye inflation ahead of a closely watched retail-sales report.
“The stock and bond markets are marking time,” said Yardeni Research in a Jan. 11 note. “They might continue to do so during the first half of this year,” the firm wrote, but “the stock market should resume its advance during the second half.”
The S&P 500 index has been trading near its all-time closing peak reached more than two years ago, briefly rising above it on Thursday as it flirted with a fresh record close, but the index ended the session with a slight decline, and its gains last week left it barely in the green for January.
The two other major U.S. stock indexes, the Dow Jones Industrial Average
and Nasdaq Composite
,
ended Friday with modest declines to date in 2024 despite weekly gains. Investors are now looking ahead to a report on U.S. retail sales in December, due out on Wednesday, for a window into the strength of consumers to keep fueling the economy.
“We know the consumer, largely because of the job market, has held our economy up reasonably well,” said Bob Doll, chief investment officer at Crossmark Global Investments, in a phone interview. “The question will be, are they still able to spend money?”
Doll said he expects consumer spending in December probably slowed a bit from November, as people no longer have the same pile of excessive savings they built up during the pandemic.
He forecasts the S&P 500 may end 2024 at 4,350, which is down 9% from its closing level Friday, saying he expects companies’ earnings growth to be lower than current consensus estimates.
The S&P 500
edged up on Friday to close at 4,783.83 — its highest level since Jan. 4, 2022, and 0.3% below its record close of 4,796.56 on Jan. 3, 2022, according to Dow Jones Market Data.
“I think it’s fully valued,” said Doll. The index’s current price-to-earnings ratio, at 20, is “probably not sustainable.”
As for the start of earnings season, shares of JPMorgan Chase & Co.
JPM,
Bank of America Corp.
BAC
and Wells Fargo & Co.
WFC
all ended down on Friday after reporting their fourth-quarter results.
Goldman Sachs Group Inc.
GS
and Morgan Stanley
MS
are set to release their quarterly earnings on Tuesday, following the federal holiday honoring the civil-rights leader Martin Luther King Jr.
Meanwhile, UnitedHealth Group Inc.
UNH
was the worst-performing stock in the Dow Jones Industrial Average on Friday after reporting its fourth-quarter earnings, FactSet data show.
‘A big ask’
“The market is looking for a trifecta,” including the U.S. avoiding “even a mild recession,” the Federal Reserve making around six interest-rate cuts by the end of December, and inflation falling sooner to the Fed’s 2% target than expected, said Sandi Bragar, chief client officer at Aspiriant, in a phone interview.
“Those are three pretty lofty things,” she said. “[Betting on] all three of those things happening is a big ask.”
Investors last week saw two readings on inflation in December, covering both consumer and wholesale prices. The consumer-price index on Thursday showed a slightly bigger rise than Wall Street anticipated and accelerated to a year-over-year rate of 3.4%, while a Friday report on wholesale inflation measured by the producer-price index was softer than anticipated.
The consumer-price-index reading was “hotter” than forecast, “but underneath the surface it shows that the Fed is very close to achieving” its 2% inflation target, according to a DataTrek Research note emailed Thursday. The federal-funds-futures market took the inflation data “as a sign that the Fed will be more, not less, likely to cut rates this year,” said DataTrek co-founder Nicholas Colas, in the note.
But Crossmark’s Doll worries “inflation may not fall as fast as people” are hoping. It’s probably “a little more on the sticky side than the market thinks,” he said.
Meanwhile, the U.S. unemployment rate has remained historically low, even amid the Fed’s effort to slow the economy and bring down inflation through restrictively high rates.
Against the backdrop of a resilient labor market, real wage growth has “provided a boost to consumers’ pocketbooks,” helped in part by a decline in gasoline prices, said David Doyle, head of economics at Macquarie Group, said in a phone interview.
But he worries the U.S. may see an “undesirable rise” in the unemployment rate this year, potentially nearing 5%, up from 3.7% in December. “Our base case is that you have a year of flat real GDP growth” in 2024, said Doyle, but “certainly a softer economic-growth environment.”
Doyle said such a rise in the unemployment rate would justify a significant portion of the 225 basis points in rate cuts he expects in 2024, beginning in June. That implies nine quarter-point rate cuts.
The fed-funds-futures market is anticipating the Fed may start reducing rates as soon as March, possibly by as much as 175 basis points through December, from its current target range of 5.25% to 5.5%, according to the CME FedWatch Tool on Friday.
‘Not leaning into them’
As for portfolio positioning, Bragar said Aspiriant favors a split in equity portfolios between opportunistic and defensive bets while underweighting the seven megacap tech stocks that carried the S&P 500 to its huge gains last year.
“We have them in the portfolio, but we are not leaning into them,” she said.
The so-called Magnificent Seven stocks, with their outsized weighting in the S&P 500, are “quite expensive,” although most other equites in the index are “fairly priced,” Neuberger Berman’s senior investment strategist, Raheel Siddiqui, said by phone.
Big Tech’s massive surge propelled a 24.2% rise by the S&P 500 in 2023.
Now, “the market is tired,” said Doll. “It ran so hard off that October low, it’s just taking a pause and a breather and hoping that fundamentals can catch up to the higher prices.”
The U.S. stock market will be closed on Monday for the Martin Luther King holiday, even as Iowa Republicans convene for the caucuses that kick off the presidential primary season.
Read on: A weekend of ferocious winter weather could see low-temperature records set in the U.S. heartland
PlanB, the creator of the renowned Stock-2-Flow (S2F) model, has once again captured the community’s attention with three bullish Bitcoin (BTC) forecasts.
In a YouTube video recently uploaded, the S2F creator shared bold predictions. In the short term, PlanB sees Bitcoin soaring to above $50,000 before the upcoming halving event scheduled for April. The S2F model creator noted in the YouTube video:
I think in the next four months towards the halving, we will start to see Bitcoin rise even further towards $50,000 [to] $60,000 region.
This prediction aligns with historical trends, where Bitcoin often experiences a surge in buying activity in anticipation of halving events, which cut the block reward by 50%.
PlanB’s Long-Term Vision: A Rally To $532,000
Looking further ahead, PlanB’s projections become even more ambitious. The S2F model creator foresees Bitcoin breaking past its all-time high to reach $100,000 later this year.
According to PlanB, this prediction gains credibility with the recent US Security and Exchange Commission (SEC) approval of spot Bitcoin ETFs, a milestone development for the crypto market.
By 2025, PlanB’s vision for Bitcoin will reach a monumental peak of $532,000. This long-term forecast, underpinned by the S2F model, suggests a future where Bitcoin cements its status as a digital store of value and profoundly disrupts traditional financial paradigms.
PlanB’s confidence in these targets is bolstered by his S2F models and the increasing institutional acceptance of Bitcoin.
I expect $55k bitcoin at halving, $100k in 2024, $532k in 2025: pic.twitter.com/mQaXM5Qabb
— PlanB (@100trillionUSD) January 10, 2024
Bitcoin Current Bull Run: Beyond $48,000 And Rising
Amid PlanB’s predictions, BTC is riding a bullish wave following the landmark approval and trading of spot Bitcoin exchange-traded funds (ETFs) in the US. The asset has leaped from its 24-hour low below $45,000 to over $48,000, demonstrating a 5.7% increase in the last 24 hours.
This surge is accompanied by a dramatic spike in trading volume, indicating heightened investor interest and market activity. PlanB is not alone in forecasting a bright future for BTC. Finance guru Robert Kiyosaki recently projected a $150,000 target for BTC, largely influenced by the expected influx of institutional investment through spot ETFs.
BITCOIN ETF. Yay. Glad I bought years ago. Bitcoin to $150k soon. Gold to the moon as Central Banks buy , store, and never sell. Silver to crash as silver stackers sell to pay bills, caused by rising inflation. Great news for silver stackers. Time to buy more as silver crashes.…
— Robert Kiyosaki (@theRealKiyosaki) January 10, 2024
While the exact timing of this milestone remains uncertain, the consensus among experts points to a significant potential for Bitcoin’s price escalation shortly.
Adding to the bullish sentiment, BTC has seen a significant increase in high-value transactions, a trend not seen in nearly two years. Analyst Ali reported significant transactions exceeding $100,000 among Bitcoin whales.
Santiment’s data further corroborates the growing interest in Bitcoin, with a notable uptick in social dominance and spot ETF-related discussions. This heightened social interest since mid-October last year underscores the impact of investor sentiment and social dynamics on Bitcoin’s market trajectory.
Featured image from Unsplash, Chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Crypto investors in the United Kingdom have been urged to check if they need to complete a Self Assessment tax return for the 2022 to 2023 tax year ahead of the Jan. 31 deadline, according to a Jan. 9 statement by His Majesty’s Revenue & Customs (HMRC), U.K.’s national taxing authority.
“The deadline to complete a tax return and pay any tax owed is 31 January 2024,” HMRC added.
The regulator warned that failure to comply could lead to an initial fixed penalty of £100 and possibly additional charges.
Myrtle Lloyd, HMRC’s Director General for Customer Services, emphasized the importance of including information about crypto-related income and gains in tax returns. He noted that individuals affected by these tax implications might not have previously filed tax returns, underscoring the need for thorough attention.
“People sometimes forget that information about crypto-related income and gains need to be included in their tax return. Some people affected may not have had to do a tax return before, so it is important people check. With the Self Assessment deadline just a matter of weeks away, I am urging people not to put off completing it,” Lloyd said.
UK’s crypto tax
HMRC outlined specific criteria for tax liabilities related to crypto transactions.
According to the body, taxes may apply when individuals receive crypto assets from employment, including whether these assets are held as part of a trade or are associated with income from crypto-related activities.
Furthermore, when users sell or trade their crypto assets for fiat money or other cryptocurrencies, taxation can arise. Similarly, digital assets may incur tax obligations when purchased, gifted, or donated.
Penalties for defaulters
The HMRC emphasized the importance of timely tax assessment filing, warning of potential penalties for delays or refusals.
Failure to submit the assessment promptly can incur a fixed penalty of £100, irrespective of tax liabilities.
Further delays of up to three months could lead to daily fines of £10, capped at a maximum of £900. Additionally, a penalty of 5% of the tax owed or £300 (whichever is higher) might apply to those significantly behind on their taxes.
“There are also additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months. Interest will also be charged on any tax paid late,” HMRC added.