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The Wall Street veteran gives his take on the quantum computing stock debacle.

Wednesday was another trading session full of losses for all types of cryptocurrencies. Several macroeconomic news items from the previous day continued to push down sentiment, as did rising bond yields. There were a great many red numbers next to the names of altcoins, both major and minor.

Raging wildfires in Los Angeles killed at least two people, destroyed hundreds of buildings and stretched firefighting resources and water supplies since they began on Tuesday, with fierce winds hindering firefighting operations and fueling the fires. AccuWeather, which estimates the loss between $52 billion and $57 billion, added that if the fire spread to densely populated neighborhoods the current estimates for loss would have to be revised upward. "Should a large number of additional structures be burned in the coming days, it may become the worst wildfire in modern California history based on the number of structures burned and economic loss," AccuWeather Chief Meteorologist Jonathan Porter said.

Wednesday's close will mark the end of the first five trading days of the year, a window that historically sets the tone for the months ahead.

In addition to the United States, Brazil and Russia are considering creating Bitcoin reserves.

"When Congress members consistently outperform benchmarks like the S&P 500, it raises serious questions about fairness."

NIO (NIO) stock has lost almost half of its value over the past 12 months and remains quite volatile. The business remains loss-making, and its path to profitability isn’t clear, given the company’s fairly unstable trajectory and investment in new business units. Personally, I’m bearish on NIO stock. The sector is increasingly competitive and the smart money already appears to have moved to automation. I’m also uncertain about the future of battery-swapping technology. Let’s Start with NIO’s Pos