Latest news with #WallStreet
Fox News
20 minutes ago
- Business
- Fox News
Trump reveals a Gaza ceasefire could come within next week
All times eastern Fox Business in Depth: Red, White and Blue Collar/Dagen McDowell Maria Bartiromo's Wall Street FOX News Radio Live Channel Coverage
Forbes
21 minutes ago
- Business
- Forbes
‘Huge' BlackRock Crypto Bombshell Suddenly Hurtling Toward Bitcoin At Key Price ‘Turning Point'
Bitcoin has bounced back in recent weeks, surging as serious U.S. dollar collapse fears drive billionaire interest in bitcoin. Front-run Donald Trump, the White House and Wall Street by subscribing now to Forbes' CryptoAsset & Blockchain Advisor where you can "uncover blockchain blockbusters poised for 1,000% plus gains!" The bitcoin price has soared toward its all-time high of $112,000 per bitcoin, with traders betting a looming Federal Reserve flip will turbo-charge the crypto market. Now, as U.S. president Donald Trump issues a surprise crypto prediction, bitcoin and crypto are braced for a 'huge' BlackRock crypto market bombshell that has suddenly appeared on the 'horizon.' Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run BlackRock chief executive Larry Fink has become one of the most bullish bitcoin price voices on Wall ... More Street in recent years. In-kind redemptions for the bitcoin and crypto exchange-traded funds (ETFs) that have taken Wall Street by storm over the last 18 months could be coming soon, according to U.S. Securities and Exchange Commission (SEC) commissioner Hester Peirce. 'I can't prejudge, but we hear that there's a lot of interest,' Peirce, who heads up the SEC's crypto task force, said on stage at a Bitcoin Policy Institute event, adding that in kind bitcoin and crypto ETFs are now 'on the horizon.' In-kind redemptions allow investors to exchange ETF shares directly for the underlying asset rather than receiving cash, which is currently the case for the spot bitcoin and crypto ETFs approved by the SEC in early 2024—a change described as 'huge' by Bloomberg Intelligence ETF analyst Eric Balchunas. In-kind redemptions for bitcoin and crypto funds would make it cheaper and quicker for traders to buy and sell ETF shares, potentially making them more attractive to institutional investors on Wall Street. Earlier this year, BlackRock, which has dominated the spot bitcoin ETF market with its $75 billion IBIT fund, asked the SEC to permit in-kind creations and redemptions for bitcoin ETFs, instead of having to use cash, with the likes of Fidelity and other smaller bitcoin and crypto ETF providers following suit. "Those (forms) are going through the process now," Peirce said. Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious The bitcoin price has rocketed to an all-time high this year, helped by BlackRock's massive $75 ... More billion bitcoin exchange-traded fund (ETF). BlackRock, which manages after around $10 trillion worth of assets for investors, spearheaded Wall Street's campaign to bring a long-awaited spot bitcoin ETF to market in 2023, with a fleet of funds debuting in January 2024 that now hold 1.4 million bitcoin worth $152 billion. BlackRock's fund alone holds around 3% of the 21 million bitcoin that will ever exist, worth almost $75 billion at the current bitcoin price, which some have warned could be giving BlackRock outsized control over the network. Meanwhile, the combined bitcoin price and crypto market is on the verge of a 'turning point' as it hits $3.4 trillion, according to one analyst. 'The $3.4 trillion to 3.55 trillion range is a turning point, which has activated sellers and prevented the market from consolidating higher,' Alex Kuptsikevich, FxPro chief market analyst, said in emailed comments. 'Since the end of Wednesday, bitcoin has been testing the $108,000 mark, but it will sell off when it touches this level. Over the past couple of days, we have seen a smooth but steady intraday uptrend, accompanied by heavy buying from medium—and long-term investors. We see this as a sign of buying by professional market participants and link it to strengthening stocks, which increases the likelihood of reaching $110,000 or even $112,000 as early as this week.'
Malay Mail
38 minutes ago
- Business
- Malay Mail
Even as markets rally, Trump's policy shifts keep investors on edge
Investors see rally to fresh highs as fragile Analysts describe environment of 'extreme policy uncertainty' Options market shows little sign of euphoria Wide bid/ask spreads, diminished liquidity characterise US stocks NEW YORK, June 28 — As Wall Street puts April's tariff shakeout in the rearview mirror and indexes set record highs, investors remain wary of US President Donald Trump's rapid-fire, sometimes chaotic policymaking process and see the rally as fragile. The S&P 500 and Nasdaq composite index advanced past their previous highs into uncharted territory on Friday. Yet traders and investors remain wary of what may lie ahead. Trump's April 2 reciprocal tariffs on major trading partners roiled global financial markets and put the S&P 500 on the threshold of a bear market designation when it ended down 19 per cent from its February 19 record-high close. This week's leg up came after a US-brokered ceasefire between Israel and Iran brought an end to a 12-day air battle that had sparked a jump in crude prices and raised worries of higher inflation. But a relief rally started after Trump responded to the initial tariff panic that gripped financial markets by backing away from his most draconian plans. JP Morgan Chase, in the midyear outlook published on Wednesday by its global research team, said the environment was characterised by 'extreme policy uncertainty.' 'Nobody wants to end a week with a risk-on tilt to their portfolios,' said Art Hogan, market strategist at B. Riley Wealth. 'Everyone is aware that just as the market feels more certain and confident, a single wildcard policy announcement could change everything,' even if it does not ignite a firestorm of the kind seen in April. Part of this wariness from institutional investors may be due to the magnitude of the 6 per cent S&P 500 rally that followed Trump's re-election last November and culminated in the last new high posted by the index in February, said Joseph Quinlan, market strategist at Bank of America. 'We were out ahead of our skis,' Quinlan said. A focus on deregulation, tax cuts and corporate deals brought out the 'animal spirits,' he said. Then came the tariff battles. Quinlan remains upbeat on the outlook for US stocks and optimistic that a new global trade system could lead to US companies opening new markets and posting higher revenues and profits. But he said he is still cautious. 'There will still be spikes of volatility around policy unknowns.' Overall, measures of market volatility are now well below where they stood at the height of the tariff turmoil in April, with the CBOE VIX index now at 16.3, down from a 52.3 peak on April 8. Unstable markets 'Our clients seem to have become somewhat desensitised to the headlines, but it's still an unhealthy market, with everyone aware that trading could happen based on the whims behind a bunch of' social media posts, said Jeff O'Connor, head of market structure, Americas, at Liquidnet, an institutional trading platform. Trading in the options market shows little sign of the kind of euphoria that characterised stock market rallies of the recent past. 'On the institutional front, we do see a lot of hesitation in chasing the market rally,' Stefano Pascale, head of US equity derivatives research at Barclays, said. Unlike past episodes of sharp market selloffs, institutional investors have largely stayed away from employing bullish call options to chase the market higher, Pascale said, referring to plain options that confer the right to buy at a specified future price and date. Bid/ask spreads on many stocks are well above levels O'Connor witnessed in late 2024, while market depth — a measure of the size and number of potential orders — remains at the lowest levels he can recall in the last 20 years. 'The best way to describe the markets in the last couple of months, even as they have recovered, is to say they are unstable,' said Liz Ann Sonders, market strategist at Charles Schwab. She said she is concerned that the market may be reaching 'another point of complacency' akin to that seen in March. 'There's a possibility that we'll be primed for another downside move,' Sonders addded. Mark Spindel, chief investment officer at Potomac River Capital in Washington, said he came up with the term 'Snapchat presidency' to describe the whiplash effect on markets of the president's constantly changing policies on markets. 'He feels more like a day trader than a long-term institutional investor,' Spindel said, alluding to Trump's policy flip-flops. 'One minute he's not going to negotiate, and the next he negotiates.' To be sure, traders seem to view those rapid shifts in course as a positive in the current rally, signaling Trump's willingness to heed market signals. 'For now, at least, stocks are willing to overlook the risks that go along with this style and lack of consistent policies, and give the administration a break as being 'market friendly',' said Steve Sosnick, market strategist at Interactive Brokers. — Reuters
Fox News
40 minutes ago
- Business
- Fox News
The Five - Friday, June 27
All times eastern Fox Business in Depth: Red, White and Blue Collar/Dagen McDowell Maria Bartiromo's Wall Street FOX News Radio Live Channel Coverage
Yahoo
an hour ago
- Business
- Yahoo
HELOC rates today, June 27, 2025: Still moving lower
HELOC rates fell a little bit today. The stock market, particularly the S&P 500, is close to a record high, so the mood on Wall Street is upbeat. When Wall Street is happy, bankers are happy — and depository institutions are the bigger providers of home equity products. The average home equity borrower has over $300,000 in value in their home, according to a new analysis by Cotality, a real estate data firm. That's $120,000 more than they had just five years ago. A home equity line of credit provides access to that cash. Now, let's check today's HELOC rates. According to Zillow, today's rates on a 10-year HELOC are lower by three basis points to 6.57%. The same rate is also available on 15- and 20-year HELOCS. Interest rates on VA-backed HELOCs dropped by six basis points to 6.12%. Homeowners have a staggering amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not going to let go of their primary mortgage anytime soon, so selling a house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of that value with a use-it-as-you-need-it HELOC can be an excellent alternative. Dig deeper: Is a HELOC a good idea? Pros and cons to consider. HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. However, you will find reported HELOC rates are much lower than that. That's because lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
