Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champion team initially had kept him in the face of a rape...Sportsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
Some financiers have said the cryptocurrency is an unwise investment because of its volatility or supposedly weak store of value, but bank chiefs have another reason to dislike bitcoin, said Rainer Michael Preiss, executive director at Taurus Wealth Advisors.
"Of course, if you run a very large U.S. bank, most probably you are afraid of blockchain and bitcoin," said Rainer Michael Preiss, executive director at Taurus Wealth Advisors.
Preiss countered, however, that cryptocurrencies could present investors with a viable alternative given the uncertainty from banking's lack of transparency.
"The concerns are about the fractional reserve banking system, and the balance sheet of the Federal Reserve at $4.5 trillion, where the Fed officially refuses an audit," he said. "On the other hand, on the bitcoin blockchain, you have an audit everyday because it's open-sourced."
The digital currency uses blockchain technology to record every transaction that occurs, granting all users full view of the digital ledger.
Cryptocurrencies could also be a "systemic hedge" against the risk of asset price inflation — an increase in the prices of assets that are not everyday items — which central banks have potentially helped to create, Preiss added.
Bitcoin's price has jumped from $700 to $4,000 since Jan. 2014, he said, adding that the hike has signalled "a good store of value" for some. He noted that Dimon had claimed the exact opposite about currency's value store in a 2014 interview with CNBC.
The digital currency was priced at about $3,900 Wednesday afternoon in Asia. It had rebounded nearly $1,000 after a huge plunge last week following announcements by major bitcoin exchanges in China that they planned to close by month-end.