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US Stock Market in the Green as Trump Indicates China Trade Talk Progress

  • Alex Dovbnya
    📰 News

    The US stock market rallies on sudden optimism about the end of the prolonging US-China trade war

US Stock Market in the Green as Trump Indicates China Trade Talk Progress
Cover image via www.123rf.com

The US stock market is soaring on positive trade talk news, Market Watch reports. US President Donald Trump has tweeted that "good things" were happening during the second day of China trade negotiations.       

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The Dow is currently up by 1.52 percent, gaining more than 400 points at the time of writing. The S&P 500 is sitting at 2,983 after rising by 1.54 percent. Both indexes are inching closer to record new highs. 

With that being said, the US stock market is still on the fence since that any pushback in trade talks will vanish these gains in a snap. 

“The whole U.S.-China trade negotiations have been a cloud over the markets in the last few weeks. If this partial breakthrough comes to fruition, it will give at least a temporary boost to the markets, and we’re seeing that reflected in stocks this morning," says Michael Arone of State Street Global Advisors. 

The US is expected to increase tariffs from 25 percent to 30 percent on $250 bln worth of Chinese goods on Oct. 15. Hence, the two superpowers have very little time to reach a deal. As Reuters reported, a state-run Chinese newspaper floated the idea of a "partial" trade deal that would benefit both countries.   

Will the US and China be able to reach a trade deal? Feel free to leave your comment! 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
    📰 News

    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com
Contents

According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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