Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Bitcoin Nears $50k, Texas Blackouts Lift Oil, Nissan-Apple – What’s up in Markets

EconomyFeb 15, 2021 07:12AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters

By Geoffrey Smith

Investing.com -- Bitcoin nears $50,000 amid fresh reports of mainstreaming and continued dollar weakness. Apple and Nissan (OTC:NSANY) fail to reach terms on an EV cooperation; oil surges as an Arctic blast causes blackouts in Texas, and stocks are drifting higher after the Senate’s acquittal of Donald Trump underlines Joe Biden’s hurry to get his stimulus bill done. Here’s what you need to know in financial markets on Monday, February 15th.

1. Bitcoin Tests $50k as Dollar Slides Again

Bitcoin prices neared $50,000 over the weekend after two new developments affirming the narrative that the cryptocurrency is ‘going mainstream’.

Canada approved its first Exchange-Traded Fund for Bitcoin, further expanding its accessibility to retail investors, while Bloomberg reported that Counterpoint Global, a unit of Morgan Stanley (NYSE:MS) Investment Management, is also considering a first investment in the asset class.

The news comes less than a week after Tesla (NASDAQ:TSLA) said it had transferred $1.5 billion of treasury reserves into Bitcoin as a risk diversification measure. That’s all part of a trend of bets on a cheapening dollar due to loose U.S. monetary and fiscal policy. The dollar index tested a three-week low on Monday in Europe, while the yield on the 10-year Treasury note rose to 1.21%, its highest in over a year.

2. Australia's Squeeze on Facebook and Google

A landmark law that would force social media giants to pay publishers for the news they carry came a step closer to reality over the weekend.

Australian Treasurer Josh Frydenberg told ABC that the country was “very close to some very significant commercial deals,” after holding talks with Facebook (NASDAQ:FB) CEO Mark Zuckerberg and Google's (NASDAQ:GOOGL) (NASDAQ:GOOG) Sundar Pichai over the weekend.

The law is being eagerly watched by media establishments and governments around the world. Google had threatened to shut down its search engine in Australia if it was passed. It’s unclear whether the weekend talks had led to any significant watering down.

3. Stocks Drift Higher After Trump Acquittal

U.S. stock futures drifted higher overnight on Monday, with cash markets set to stay closed until Tuesday due to the Presidents Day holiday.

The acquittal of former President Donald Trump on Saturday was taken as reflecting a desire by President Joe Biden to prioritize pushing through his spending plans rather than seeking political revenge on his former opponent. As such, it hints at the $1.9 trillion package getting through Congress faster and without dilution.

Overseas, Chinese markets remained closed for the New Year holiday, while Japan’s reopened sharply higher after a stronger-than-expected fourth-quarter GDP report.

Italian stocks were the outperformer in Europe after new Prime Minister Mario Draghi selected a number of party politicians, not just technocrats, for his new government of national unity. Analysts said that should help him keep discipline among the often quarrelsome parties that have agreed to back him.

4. Nissan Rejects Apple's Terms

Nissan (T:7201) became the latest carmaker to be linked to Apple’s ambitions in the mobility sector.

The Financial Times reported that Apple (NASDAQ:AAPL) had approached the Japanese giant some months ago with a view to partnering on its secretive project for autonomous electric vehicles. However, it reported that talks had broken down over, among other things, branding (Apple reportedly wanted its name on the product). It said that Nissan was reluctant to be seen as the “Foxconn of the auto industry”.

Nissan shares fell 2.8% on the news, while shares in automotive supplier Magna (NYSE:MGA), which has also been linked with Apple, rose 3.5%.

5. Oil Surges as Storms Force Texas Blackouts

A blast of Arctic weather across the U.S. sent oil prices to their highest in 13 months. In addition to driving a spike in demand for heating oil, the weather front has led to Texas power grid operator ERCOT having to impose rolling blackouts in a state that accounts for much of the country’s oil and gas output. The incident is likely to spark fresh controversy over the rapid buildout of renewable energy sources, output from which has not been able to keep pace with demand.

By 7 AM ET (1200 GMT), U.S. crude futures were up 2.1% at $60.72 a barrel, while Brent crude futures were up 1.5% at $63.37 a barrel.

Bitcoin Nears $50k, Texas Blackouts Lift Oil, Nissan-Apple – What’s up in Markets
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (18)
Amin Hesami
Amin Hesami Feb 15, 2021 3:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
🤑🤑🤑🤑🤑
Art Fire
Art Fire Feb 15, 2021 1:02PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
With the floods, tornadoes, and now blackouts and snow storms Texas is a terrible place to run a business. They lose millions in shut downs and destruction caused by the damage.
Greg Carter
Greg Carter Feb 15, 2021 10:39AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
For all the smart people laughing at global warming.. did you know its close to 70 degrees f in antarctica?Ice caps melting? No problem
Anna Kaliszewska
Anna Kaliszewska Feb 15, 2021 10:39AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
In Poland last week -24 celsius
Charlene Anaele
Charlene Anaele Feb 15, 2021 10:39AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
what caused the first ice age?
Kaveh Sun
Kaveh Sun Feb 15, 2021 10:30AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Chances r: You wont see ur stimu check until next year, or right b4 election.
Lex Wild
Lex Wild Feb 15, 2021 10:26AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Heating with Oil? Oh my god save the wales, environment, planet..... Greta step in ;-)
NYSE NASDAQ
NYSE NASDAQ Feb 15, 2021 10:26AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
go to mars and tell there.
Pwr Strk
Pwr Strk Feb 15, 2021 10:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
"Trump's acquittal was taken as reflecting a desire by White Mummy Biden to prioritize pushing through his spending plans" This is the most preposterous statement I've heard on this topic: HYPOCRITE FAS C ISTS
Alberto Vazquez
Alberto Vazquez Feb 15, 2021 10:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thank you
De Will
WhatMatters Feb 15, 2021 10:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Preposterous indeed to falsely credit Biden for Trump’s acquittal! Leftists only obtain and hold power through lies.
joninge kvamme
joninge kvamme Feb 15, 2021 9:59AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
2 coins or 1cybertruck.
Terry Dude
Terry Dude Feb 15, 2021 9:40AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
global warming lol
Mushtaq Khan
Mushtaq Khan Feb 15, 2021 9:31AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Don't Buy BitCoin, it may loose upto 6% with in Friday 19.2.2021.Bitcoin may come below $45K.
andy matalobos
andy matalobos Feb 15, 2021 9:19AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Bitcoin is a currency dysphoria with psychological effects for the few suckers....nothing but a mirage of a monetary system.
MAVERICK TRADING
MAVERICKFX Feb 15, 2021 9:19AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
1.3 trillion transactions worldwide, mostly coming from countries with fiat problems, such as Venezuela. It’s the future. Cathie Woods talks about this regularly.
Loren Kote
Loren Kote Feb 15, 2021 9:19AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
andy matalobos, u don't understand it, read or see some videos about what it really is!it has proof of stake and deflationary, a.k.a. digital gold!keep up with the news, u may be able to accept part of ur income paid in bitcoin in the near future.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email