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Biden Orders Quarantines, Mandatory Masks As Team Teases 50+ ‘Action Items’ To Destroy Trump Legacy; Invokes Wartime Powers For COVID Jabs

Biden Orders Quarantines, Mandatory Masks As Team Teases 50+ ‘Action Items’ To Destroy Trump Legacy; Invokes Wartime Powers For COVID Jabs

After a full day of inaugural events that ended with fireworks, observed by President Joe Biden and…

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Biden Orders Quarantines, Mandatory Masks As Team Teases 50+ 'Action Items' To Destroy Trump Legacy; Invokes Wartime Powers For COVID Jabs

After a full day of inaugural events that ended with fireworks, observed by President Joe Biden and Vice President Kamala Harris (and their respective spouses), the Biden Administration is moving ahead with its 10-day sprint of executive orders, kicking off Thursday with measures requiring masks and quarantines for travelers and plans to utilize the defense production act to eliminate any further "supply shortages" in critical vaccine materials.

Here's more on that from the FT, which says Biden will sign the DPA order on Thursday.

The Biden administration has identified critical supply shortages of 12 items needed to help fight the coronavirus pandemic and promised to use wartime powers to help solve them. Joe Biden, who took office as president on Wednesday, will on Thursday sign an executive order instructing US government agencies to use the Defense Production Act to increase supplies of several items including coronavirus tests, N95 masks and vaccine syringes. The order is one of several such documents the president is signing as he lays out what he promises will be a more robust and transparent strategy to bringing the pandemic under control.

In addition, Biden is imposing strict new requirements on travelers (and not just on planes), while also enforcing quarantine rules, according to Bloomberg.

While most of Biden's actions are said to be undoing Trump-era policies, at least one of Trump's travel rules, requiring a negative COVID test before flying to the US, is simply being "codified" by Biden.

President Joe Biden will push for additional travel safety during the coronavirus pandemic by requiring people to wear masks in airports and on planes while enforcing quarantines for people who arrive in the U.S. from other countries.

In an executive order he will issue Thursday, his second day in office, Biden will codify an action by former President Donald Trump on Jan. 12 to require a negative Covid-19 test before flying to the U.S. from other nations, according to a Biden administration fact sheet. The order will be coupled with one requiring masks on federal properties that was signed by Biden on Wednesday.

The language of the orders hadn’t been released so it’s difficult to assess how the various provisions will be enforced. All U.S. carriers have some kind of requirement that passengers cover their faces, as do many airports and transit systems.

But the federal mask requirement could put teeth into policies now written and enforced by the airlines, which have limited remedies, such as refusing to allow customers to board future flights.

And it will go beyond airplanes. According to the Biden fact sheet, the administration will require “mask-wearing in airports, on certain modes of public transportation, including many trains, airplanes, maritime vessels, and intercity buses."

Of course, new travel rules on masking from Biden could open Americans to face civil fines or other “charges” if they don’t comply with travel-related masking requirements - which means, in theory, you could be fined for eating that snack they give you on the plane.

The new Biden policy could subject passengers to charges. During the entire pandemic, the Federal Aviation Administration has only filed civil charges against two people related to their refusal to wear masks in cases of alleged threats or assaults on flight attendants.

Hundreds of people have been barred from flying on individual carriers for refusing or getting into disputes with flight attendants and pilots over the issue.

With all the Trump-era policies being displaced, it's hardly a surprise that the Biden Team is already griping to CNN about how the Trump Administration left the federal government with "no strategy" pertaining to vaccine distribution.

"There is nothing for us to rework. We are going to have to build everything from scratch," one source said.

It must be a miracle then that all those millions of doses in the US somehow made it into Americans' arms over the last two months?

CNN also reported that Biden is pushing ahead with plans to reopen the nation's schools within 100 days, even as Teachers' Unions warn that the 100-day target may need to be "a goal rather than a fixed target."

And the orders from Wednesday and Thursday are just the start.

As the new West Wing communications team dribbles out more details of Biden's plans, we're learning Thursday morning that Biden intends to sign as many as 53 separate executive orders during his initial 10-day run, which the Hill sourced to a "document" outlining the administration's plans, which was presumably leaked to several media outlets.

Amusingly enough, the White House press corp tweeted glowingly last night during the administration's first official West Wing press briefing about their desire to come to work eagerly every day (7-365) now that Biden's press secretary Jen Psaki is running the show (as opposed to President Trump's Kayleigh McEnany).

Well, they're about to get what they wished for. Because according to the Hill, it's going to be an extremely busy January, with Biden signing a suite of EOs every day. Many days will have "themes", similar to the four major themes once proposed by Biden Chief of Staff Ron Klain (COVID, racial equality, health care and, of course, immigration, which was one of the themes of the 17 'executive actions' Biden took yesterday.

The document, which was circulated to individuals close to the administration and obtained by the Hill, shows that Biden will take executive action each weekday through the end of January, with each day centered around specific themes such as climate, economic relief, health care and immigration.

The timetable lays out which days Biden is expected to act on anticipated items such as reversing the Mexico City policy, creating a task force to reunite separated migrant families and establishing a policing commission.

Whatever details were on the version of the schedule leaked to the Hill, they might differ from the final drafts of the orders, as Biden's team is still reportedly hashing out the details.

The schedule notes that the specifics of certain executive actions are to be determined, reflecting how the Biden team is still hashing out details as it takes office following delays in the transition after the November election. The themes are expected to extend into February, which has been designated around the idea of “Restoring America’s Place in the World,” according to the document.

On the list of the orders to be signed on Thursday, many will focus on the pandemic, which will be Thursday's overarching theme (if you haven't noticed that already). Friday's theme will focus on economic relief, while Monday's theme will be "Buy American," and most of next week will be dedicated to ripping out Trump-era policies and replacing them with Biden policies.

Thursday’s theme will focus on the pandemic, according to the document. Biden is expected to sign off on executive orders to review the supply chain ahead of any use of the Defense Production Act and to implement public health measures on public transportation, airplanes and trains.

Friday’s theme is economic relief, with two executive orders expected to be signed, according to the document. One will direct agencies to take action on Medicaid, Pell grants and unemployment insurance, while the other will restore collective bargaining rights to federal employees and initiate a rollback of a Trump administration rule on Schedule F.

The theme for Monday is “Buy American,” and Biden will sign one executive order seeking to ensure agencies use U.S. suppliers.

The remainder of next week will be spent signing off on executive orders and reversing Trump-era moves surrounding equity (Jan. 26), climate (Jan. 27), health care (Jan. 28) and immigration (Jan. 29).

Looking further down the road, the Biden team's plans for February are already coming together as well.

February’s actions remain a work in progress, but the early days have been mapped out, and there is likely to be a strong focus on national security matters, according to the schedule reviewed by The Hill.

Biden on Feb. 1 is tentatively expected to sign an executive order aimed at workforce recruiting and retention. The following day, he will sign a “Forever Wars” executive order initiating a review of counterterrorism operations that also reinstates the policy of closing Guantanamo Bay prison, something neither of his predecessors managed to do.

As the president busies himself with the pen-strokes, the Democrats' stimulus carriage is already turning into a pumpkin, as Mitt Romney, already luxuriating in his new role as a critical swing vote, told reporters yesterday that he's not looking for new stimulus in the immediate future.

Tyler Durden Thu, 01/21/2021 - 07:05

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Bitcoin Back Below $30,000 After A Record 8 Weeks In The Red

Bitcoin decoupled from equity markets to the downside on Monday after ending last week as the eighth consecutive weekly loss.

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Bitcoin decoupled from equity markets to the downside on Monday after ending last week as the eighth consecutive weekly loss.

Bitcoin has failed to hold the $30,000 level on Monday after scoring its eighth consecutive week in the red for the first time ever.

During these eight weeks, which began in late March and ended on Sunday, bitcoin has lost over 35% of its U.S. dollar value according to TradingView data. Before the beginning of the losing streak, BTC was trading at around $46,800.

Bitcoin has scored losses for eight consecutive weeks for the first time in its history and it is starting the ninth with yet another red candle. Image source: TradingView.

Bitcoin is changing hands slightly below $30,000 at the time of writing. The peer-to-peer currency climbed as high as $30,600 earlier on Monday to trade at around $29,400 as the trading in equity markets nears its end in New York.

While bitcoin turns south, major U.S. stock indices have been in the green. The Nasdaq, which is said to be highly correlated with bitcoin, decoupled from the digital money along with the S&P 500 to denote modest gains near market close on Monday, per TradingView data.

While bitcoin, Nasdaq and S&P 500 were trading in tandem for some time on Monday, the P2P currency saw a sharp sell-off decouple it from the two indices and take it to a more than 3% loss for the day. Image source: TradingView.

A Tough Year For Bitcoin

Despite making two new all-time highs in 2021, bitcoin already erased nearly all of those gains in 2022.

Bitcoin’s choppy trading year so far can be partly attributed to a broader sentiment of economic uncertainty as the Federal Reserve tightens the U.S. economy, withdrawing liquidity from the market after almost two years of quantitative easing.

The central bank has already raised its basic interest rates two times this year, the last of which was double the magnitude of the previous one and represented the largest hike in two decades: While the Fed increased interest rates by 0.25% in March, it raised them by 0.50% earlier this month.

Image source: Federal Reserve Economic Data (FRED).

When the Fed raises or lowers interest rates through its Federal Open Markets Committee (FOMC), what it is actually doing is setting a target range. The graph above depicts the lower and upper bounds of that target range in red and blue, respectively.

While the U.S. central bank system sets the target, it cannot mandate that commercial banks use it — rather, it serves as a recommendation. Therefore, what banks end up using for lending and borrowing excess cash between them overnight is called the effective rate. This is shown by the green line in the graph above.

The Fed previously hiked interest rates consistently from 2016 to 2019, until plunging it near zero in the aftermath of the COVID-19 pandemic outbreak, as noted in the graph.

Bitcoin’s higher sensitivity to liquidity and therefore interest rates can be explained by a greater participation of institutional investors in the market, whose allocations are based on the availability of capital and broader economic conditions, Morgan Stanley reportedly said.

Therefore, while Bitcoin was able to sustain a bull market in the midst of the Fed increasing interest rates in 2017, raising nearly 2,000% from January to December that year, the odds aren’t on the side of the bulls this year.

For two weeks, bitcoin has now closed below a level of weekly support it formed over a year ago and had respected since, indicating it might be turning into a zone of resistance. Image source: TradingView.

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WEF 2022: Terra were offering unsustainable yields; DeFi can support financial inclusion

Industry experts share insights and commentary with Cointelegraph on the first day of the Blockchain Hub 2022 conference in Davos, Switzerland.

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Industry experts share insights and commentary with Cointelegraph on the first day of the Blockchain Hub 2022 conference in Davos, Switzerland.

Reporting from the inaugural day of the Blockchain Hub Davos 2022 conference, Cointelegraph’s editor-in-chief, Kristina Lucrezia Cornèr hosted a panel discussion centred around decentralized finance (DeFi) titled ‘Programmable Money is Here — and It’s Changing the World as We Know It’.

Panelists included Chief Partnership Officer of SwissBorg, Alexander Fazel; Global Markets Lead of Kraken Europe, Lucian Aguilar; Co-founder and CEO of CasperLabs, Mrinal Monahar; and Managing Partner of Coral Capital, Patrick Horsman.

In the opening remarks of the conversation, Aguilar reflected upon his attendance of the event two years ago, assessing the differences in receptiveness and attitude to crypto. He also noted how the prevailing narrative has evolved, stating: “Last time [there were] a lot of projects here that were trying to sell and present. This time when I look around it’s more talking about building, adopting, and innovating.”

All of his fellow panelists concurred with this viewpoint. Horsman shared that DeFi’s total value locked (TVL) was $1 billion in May 2020, but has since grown 150 times — a healthy barometer of success for the industry by his account.

Engaging the audience in a hand-raising exercise to determine their entry-point into the space, SwissBorg’s Fazel stated that “in TradiFi people are thinking [that] I don’t want to lose money — how can you help me keep my wealth regardless of markets? So, it’s very risk-management orientated. While in DeFi, the degens are like ‘gimme those triple-digit yields wooo!’”

He argued that protocols within the space should adopt higher transparency standards for the risk associated with annual percentage yields (APYs), advocating that additional education could also support in balancing the expectations of investors.

Advancing that thesis, Coral Capital’s Horsman shared that the Terra (LUNA) crisis partly occurred because “they were essentially offering yields that were unsustainable, and [that] there were venture capital firms that were bootstrapping those yields in order to bootstrap an ecosystem.” He noted that his firm decided to withdraw funds from the project in Nov-Dec 2021 after their reserve modelling data predicted worrying calculations for the future.

Related: Why did Terra LUNA and UST crash? | Find out on The Market Report

In response to that anecdote, Aguilar shared his belief that protocols with vastly significant APYs in the triple-digit range are mostly likely seeking to mitigate their own high risk factor, stating:

“A lot of these APYs, I see them as a risk premium because the underlying is so underpredicted and unstable that it’s needed to offset the risk for a traditional investor.”

Transitioning to the World Economic Forum’s (WEFs) ambitions in tackling modern global challenges — climate change and the pandemic being some of the most prominent examples of recent times — Cornèr asked the panelists how they assess the status of financial inclusion, and how DeFi can empower communities to reduce the prejudicial disparity in the current system.

Monahar stated that “I think DeFi has a huge potential to create financial inclusion”, but that to achieve visions of decentralization there needs to be “interoperability at a true fundamental algorithmic level.” This, he argued, will cultivate a frictionless experience which promotes commonality and fosters incentives for inclusion.

He recognized the recent convergence of developers to the programming language Rust as a positive signal, as well as its similarities to the software synonymous with the internet, HTTPS.

Furthering the conversation around financial inclusion, Fazel stated that "there's no better way to earn wealth than in DeFi" and that data monetization services such as Brave Browser, play-to-earn games such as Axie Infinity, and play-to-move platforms such as Sweatcoin and the soaring trend of STEPN, are granting the opportunity to "generate wealth without necessarily having wealth in the beginning."

The airdrop incentives that some of these platforms provide can support inclusion of wealth across less developed country's argued Fazel, disclosing a personal story of his father — a resident of Iran where the monthly salary averages $250 — immensely benefitting from the 300 Uniswap (UNI) airdrop.

Related: WEF 2022, May 23: Latest updates from the Cointelegraph Davos team

Cointelegraph representatives are extensively reporting on the World Economic Forum (WEF) and the Blockchain Hub 2022 this week. Read our live action blog to follow along with all the highlights and best moments of the global events!

Readers of this article can watch the full interview of 'Programmable Money is Here — and It’s Changing the World as We Know It’ on Youtube via this link.

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Best Penny Stocks To Buy According To 4 Analysts & Targets Up To $8

Best penny stocks to buy according to analysts.
The post Best Penny Stocks To Buy According To 4 Analysts & Targets Up To $8 appeared first on Penny…

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Want to buy penny stocks? You might have thought about starting by following analysts. Today we look at 4 penny stocks to buy according to a few Wall Street analysts with bullish price targets to go with them.

The thing to remember about analyst ratings is that they usually have an outlook beyond “today.” These firms will dig into things like recent financials, development or product pipelines, and the current industry or market conditions that could contribute to the success or failure of the companies.

Penny Stocks To Buy [According To Analysts]

  1. EOS Energy Enterprises Inc. (NASDAQ: EOSE)
  2. Porch Group Inc. (NASDAQ: PRCH)
  3. FTC Solar Inc. (NASDAQ: FTCI)
  4. Ginkgo Bioworks Holdings Inc.(NYSE: DNA)

1. EOS Energy Enterprises Inc. (NASDAQ: EOSE): +498%

Energy stocks have recharged bullish traders looking for pockets of opportunity. Even with the stock market crash this year, shares of oil & gas and even alternative energy stocks have jumped. EOS Energy focuses on clean energy systems using its Znyth aqueous zinc battery platform. It is being designed to compete with traditional lithium-ion batteries already in the market.

EOS reported first-quarter earnings and worse than expected EPS and sales results earlier this month. However, based on comments from company CEO Joe Mastrangelo, it appears that EOS is looking at just a simple bump in the road. Mastrangelo explained in a May update that, “We are building a company ready to deliver safe, scalable, flexible, and affordable energy storage. Our manufacturing capacity expansion is on plan, we are seeing improved first-pass production yields, and we are proud to be working towards a cleaner, brighter energy future.”

Penny Stocks To Buy Now? 4 To Watch Under $1

Though analysts have lowered price targets, firms including B. Riley appear to remain bullish based on price targets. Its analysts have a Buy on EOSE stock and a $7 price target. Despite this being much lower than the previous $13 target, the new outlook is still nearly 500% higher than current price levels.

2. Porch Group Inc. (NASDAQ: PRCH): + 74%

penny stocks to buy Porch Group Inc. PRCH stock chart

Shares of Porch Group continued trading higher on Monday. This extended a move that began earlier this month after the company announced earnings. Porch’s specialty is software development for the home services and insurance industries.

Total revenue for the first quarter reached $62.6 million, equating to a jump of over $35 million compared to the first quarter of last year. “Porch is off to a strong start in 2022…Our vertical software and insurance segments are performing very well and reported substantial revenue increases. This strong performance early in the year gives us confidence in affirming our previously disclosed guidance and highlights why the team is excited about the remainder of the year,” said Matt Ehrlichman, founder and Chief Executive Officer of Porch Group, Inc.

With new approvals in Arizona, Georgia, and Virginia, the company is also on track to leverage particular insights from its current data into its underwriting models. Adding to this, JP Morgan analysts recently initiated coverage of the company. The firm set its rating at Overweight and gave a price target o $8. Based on current trading levels, this target sits roughly 74% higher.

3. FTC Solar Inc. (NASDAQ: FTCI): +80%

penny stocks to buy FTC Solar Inc. FTCI stock chart

Like EOS, FTC is also focused on alternative energy applications. In this case, as the name suggests, the company is part of the solar industry. In particular, FTC provides solar tracking systems and solutions, including engineering and software.

Shares slipped earlier this month after the company reported its latest round of earnings. In addition to headwinds from the broader stock market sell-off, FTC also missed estimates and gave a revenue forecast that reflected delays by solar developers. Regardless, FTCI stock has made some headway going into the end of May. Shares have made a rebound from lows of $2.12 to over $4 at the end of last week.

What to Know About Buying Penny Stocks on May 23rd

What do analysts think about FTC right now? Missed earnings aside, many analysts have remained bullish on the stock. The most recent firm, Northland Securities, initiated coverage on the stock this week. It started FTCI with an Outperform rating and a $7 price target. Considering the penny stock sits just under $3.90, this target is 80% higher right now.

4. Ginkgo Bioworks Holdings Inc.(NYSE: DNA): +200%

penny stocks to buy Ginkgo Bioworks DNA stock chart

Shares of Ginkgo Bioworks have been channel-bound for weeks, but that hasn’t stopped traders from taking advantage of the volatility. Earlier this month, the cell programming company announced plans to develop global biosecurity capabilities in Qatar alongside First Serv. This new partnership aims to build Doha as a critical access point for a pathogen monitoring network.

Considering the uncertainty surrounding numerous viruses, including COVID and now, monkeypox, this news seems to have come at a reasonable time. “Biosecurity in this new era is about applying the cutting edge tools of the biotech age to prevent the next pandemic or infectious disease threat. Proactive pathogen monitoring is an essential part of this effort—we need a robust global weather map to identify and track emerging biological threats,” said Matt McKnight, General Manager, Biosecurity at Ginkgo Bioworks.

What do analysts think about DNA stock? If you look at KeyCorp’s rating, it appears to have taken a bullish stance on the beaten-down biotech stock. The firm has an Overweight rating on the penny stock and a price target 200% higher at $8.

Penny Stocks To Buy

Starting with analyst coverage may be an interesting first step if you’re looking for penny stocks to buy. These firms make a point to dive into company specifics beyond market hype. But, it’s important to remember that they are not always the final say in what the market or stocks will (or won’t) do. With that in mind, it’s always a good idea to have a plan in place and a strategy perfected. According to analysts, these are just a few of the penny stocks to buy right now. Do you agree? Drop a comment if any of these are on your list of penny stocks right now.

The post Best Penny Stocks To Buy According To 4 Analysts & Targets Up To $8 appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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