President-elect Trump will hold his first formal news conference since July at 8:00 am Pacific Time. Markets are looking for clues over the direction of fiscal policy.
Ahead of its annual meeting the World Economic Forum laid out the five biggest threats facing the planet in 2017. They are extreme weather events, large-scale involuntary migration, major natural disasters, large-scale terrorist attacks, and a massive data breach.
Bitcoin prices fell almost $100 to 800 this morning after Chinese authorities announced they would begin investigating local bitcoin businesses to ensure compliance with Chinese laws. In a statement the People’s Bank of China said its Shanghai branch would scrutinize bitcoin-related business to determine whether they have obtained the necessary licenses to provide credit or operate an exchange and implemented stringent anti-money-laundering systems. Analysts attribute part of the more than 100% run-up in bitcoin prices last year to Chinese investors, who have reportedly been using bitcoin to circumvent China’s strict controls on the movement of capital.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
