If thinking about Chegg gives you PTSD to the days when you were in school, I might have some good news for you: The company known for textbook rentals and homework help is running on fumes. Chegg’s stock is down a whopping 99% since its highs in 2021, erasing $14.5 billion in value, and the […]
The Federal Reserve cut its key overnight lending rate again on Thursday, following on the heels of a half-point cut in mid-September. Fed watchers also expect the central bank may cut the rate once more this year, by another quarter point, at its December meeting. If so, that would mean the fed funds rate, which directly or indirectly […]
Bitcoin (BTC) jumped above the $79,000 mark for the first time in history in an unusual weekend pump that liquidated $280 million in bearish crypto trades. BTC rose 4%, extending 7-day gains to over 16% on the back of a week that saw Republican Donald Trump elected the U.S. president and Federal Reserve cutting rates […]
Is it time to pay closer attention to the world’s second-most valuable cryptocurrency? Bitcoin’s (BTC 3.10%) price more than doubled to a record high during the past 12 months. Four catalysts drove that rally: the approvals of Bitcoin’s first spot price exchange-traded funds (ETFs) in January, its latest four-year halving in April, the Federal Reserve’s […]
The U.S. housing market was a major issue for voters in the 2024 presidential election, as low inventory continues to drive home prices to new highs. The eye-popping price tags of homes coupled with elevated mortgage rates in recent years have pushed the American dream out of reach for an increasing number of Americans in […]
The S&P 500 (SNPINDEX: ^GSPC) has advanced 80% since 2019, and most of that upside came from a relatively small number of stocks. Apple and Nvidia alone contributed a quarter of the gains, and the Magnificent Seven accounted for half. Consequently, the S&P 500 has become increasingly concentrated. In fact, the 10 largest companies now […]
Bitcoin isn’t flashing any signs of being “overheated” despite reaching new all-time highs this week, with several analysts pointing to fundamentals suggesting Bitcoin could pump further. “The market does not look overheated from a fundamental perspective,” Galaxy head of research Alex Thorn said in a Nov. 7 market report viewed by Cointelegraph. Crypto analysis firm […]
As widely expected by market participants, the U.S. Federal Reserve lowered its benchmark fed funds rate by 25 basis points to 4.5%-4.75% on Thursday, following the footsteps of other central banks to loosen monetary policy. “Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains […]
Bitcoin set a new all-time high Tuesday night, amid strong early results for Donald Trump in the 2024 presidential election. Why it matters: It indicates confidence from the market in Trump’s chance of winning and ushering in a much more pro-crypto regulatory environment. By the numbers: At 8am ET Tuesday morning, bitcoin (BTC) traded for $68,710, according to CoinGecko. Context: Historically, bitcoin […]
The dollar was set for its biggest one-day rise since March 2023 against major peers on Wednesday and bitcoin jumped to an all-time high, with traders increasingly confident of a U.S. election victory for former president Donald Trump. Republican Trump claimed victory in the 2024 presidential contest after Fox News projected he had defeated Democrat […]
US stocks rallied in after-hours trading on Tuesday night and bitcoin hit a new record as Wall Street digested early presidential election results. Futures on the Dow jumped more than 600 points, while the S&P 500 jumped by a half percentage point as early election results streamed in on Tuesday night. The US dollar index […]
Clues about how this election cliffhanger will end may be hiding in an unlikely place: Your 401(k). As people try to make sense of the latest swings in prediction markets and dramatic shifts in the share price in former President Donald Trump’s social media company, there’s a far simpler predictor with a surprisingly strong track record. It finds […]
