Stocks badly want to end the year on a high note.
The Dow Jones Industrial Average closed up 63 points to 24,837. The S&P 500 gained 4.9 points to 2,687, while the Nasdaq Composite tacked on 10.8 points to 6,950.
Here are several moves in the markets that have caught TheStreet's attention so far on Thursday.
Crypto Stocks Get Whipped
With bitcoin prices under pressure again Thursday, cryptocurrency stocks took it on the chin.
- Square (SQ) : -1.7%
- Digital Power Corp. (DPW) : -9.5%
- LongFin Corp. (LFIN) : -6.2%
- Overstock (OSTK) : -2.9%
- Riot Blockchain (RIOT) : -8.6%
- Bitcoin Investment Trust (GBTC) : -9.9%
- Marathon Patent Group (MARA) : -8.7%
Perhaps another bitcoin flash crash as Overstock's CEO Patrick Byrne recently told TheStreet?
Are You Taking Too Much Risk?
Cue speculative bubble forecasts.
Net debt in NYSE customer margin accounts increased to 1.03% of companies' market cap in November, the highest level since 2003, according to new Bloomberg data. Why not borrow on margin with interest rates still low and stock prices refusing to go down for any prolonged period? Easy money...until it's not.
It paid to own a home in 2017.
The total value of all homes in the U.S. surged $2 trillion in 2017 to $31.8 trillion, according to a new report from Zillow. The online real estate firm also added this tweet worthy nugget.
"The value gained in 2017 alone is equivalent to more than the valuation of two companies the size of Apple (AAPL) . Over the past year, the U.S. housing market has gained $1.95 trillion, while Apple recently hit a market value of $900 billion, the first U.S. company to do so."
And Who Said Shopping At Stores Was Dead
In-store retail traffic on Super Saturday spiked 20% vs. last year, according to Shoppertrak. "Overall, it's safe to say that retailers had a very merry Christmas," the retail data service said.
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