Jim Cramer makes some Bold Claims (which usually means we are headed for Recession) and Russia Central Bank shows Interest for using Crypto for Global Trade
Uniic Media Newsletter - Wednesday - June 1, 2022
The Average Time Spent on TikTok has Surpassed YouTube
When eMarketer compared the average time spent on the top social platforms by U.S. adults, TikTok surpassed YouTube. Users spent an average of 45.8 minutes on TikTok versus 45.6 minutes on YouTube.
This milestone follows a series of changes on the TikTok platform that were seen as threats to YouTube’s video dominance. In February, TikTok extended the video length limit from 3 minutes to 10 minutes. The platform also announced a new revenue-sharing program that is very similar to YouTube’s.
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Justice Department is asking Appeals Court to overturn the order that Dismissed the Mask Mandate on Public Transport
The U.S. Justice Department asked a federal appeals court to overturn last month’s court order which found the government’s mask mandate on mass transit was unlawful yesterday.
The White House had said it would no longer enforce the Covid precaution on airplanes, buses, trains, and transit hubs hours after the ruling by Judge Kathryn Kimball Mizelle, an appointee of President Donald Trump.
Mizelle had ruled that the Centers for Disease Control and Prevention failed to properly explain its decision to impose the mandate or follow proper rule-making procedures.
Russia Central Bank says it doesn't object to the use of Crypto in International Trade
Russia’s central bank is open to allowing the use of cryptocurrency for international payments, a senior bank official said yesterday, in a sign of a possible relaxation of its opposition to digital currencies.
“In principle, we do not object to the use of cryptocurrency in international transactions,” the central bank’s First Deputy Governor Ksenia Yudaeva said in a briefing with reporters.
But Yudaeva reiterated that the bank, as the regulating authority, continues to see the wider use of cryptocurrency in Russia as a financial threat.
Jim Cramer’s bold Prediction: “Charts Suggest it’s going to be a Very Nice Summer for Stocks”
Jim Cramer explained technical analysis from veteran chartist Larry Williams that suggests the market’s recent rebound could last for the next few months.
“Larry Williams perfectly called the bottom the week before last. Now his analysis suggests we’ve got a lot more room to run. He thinks this is not just a short-term bounce, it’s a move that could last through the end of August,” Cramer said.
The Dow Jones Industrial Average and the S&P 500 last week saw their best weekly gains since November 2020, though the three major indices, including the Nasdaq Composite, are well below their highs.