The Daily Chase: TSX near record territory amid oil rally; Milestone moment for Bitcoin looms
BNN Bloomberg
U.S. futures are pointing to more gains at the start of trading this morning after yesterday’s broad-based rally propelled the S&P 500 to its biggest single-day gain since March and lifted the S&P/TSX Composite Index to within two points of a record close.
U.S. futures are pointing to more gains at the start of trading this morning after yesterday’s broad-based rally propelled the S&P 500 to its biggest single-day gain since March and lifted the S&P/TSX Composite Index to within two points of a record close. West Texas Intermediate crude rose to a fresh seven-year high this morning; if you missed it, be sure to check out Jon’s chat with National Bank’s chief strategist, who’s pounding the table for Canadian stocks and decrying the major institutional money that’s given up on our energy sector.
U.S. BITCOIN ETF DRAWS NEAR
We all know this country has been the trailblazer in launching crypto ETFs; finally, it seems the United States is about to catch up. Our Bloomberg News partners are reporting the U.S. Securities and Exchange Commission is set to allow futures-based Bitcoin exchange-traded funds from ProShares and Invesco to start trading next week. The world’s best known cryptocurrency was up as much as 4.4 per cent in early activity this morning, putting it on the brink of hitting US$60,000 for the first time since April.
SOOTHING WORDS ON EVERGRANDE
A senior official with the People’s Bank of China took jabs at China Evergrande Group this morning for “failing to manage its business well” and implied the debt-saddled developer’s woes can be ring-fenced.
BRACING FOR HOUSING’S ‘UNUSUALLY BUSY WINTER’
