Stocks closed near session highs Monday, as the S&P 500 (^GSPC) notched its best three-day run in a rip-roaring 2024. Wall Street continued to build on an end-of-week surge precipitated by a softer-than-expected jobs report that helped spur bets toward an earlier rate cut from the Federal Reserve. The S&P 500 gained 1%, while the […]
Stocks jumped sharply Friday after a softer-than-expected April jobs report boosted hopes that the Federal Reserve could start cutting interest rates soon. The Dow Jones Industrial Averagegained 450.02 points, or 1.18%, to settle at 38,675.68. The S&P 500surged 1.26% to finish at 5,127.79 and notch its best day since February, while the Nasdaq Compositerallied 1.99% […]
Bitcoin starts a new week with bullish sentiment back on the radar as $64,000 returns. In a stirring comeback, BTC price action has managed to leave its latest swing lows far behind it, gaining nearly $8,000 versus the pit of last week’s sell-off. Despite some of those gains coming during the weekend, they proved to have […]
A dormant Bitcoin address dating back to the era when Satoshi Nakamoto was still active has woken up after 10 years. The Bitcoin wallet containing 687 BTC ($43.9 million) transferred its holdings to two different wallets on May 6. The wallet first transferred 625.43 Bitcoin to an address starting with “bc1qky” and 61.9 BTC to “bc1qdc.” […]
The U.K.’s “sluggish” growth prospects have put it on course to be the worst-performing economy of all advanced nations next year, according to new forecasts from the Organization for Economic Cooperation and Development. U.K. gross domestic product is expected to grow 0.4% in 2024, the Paris-based think tank said Thursday in its latest global economic […]
Block, Inc. (NYSE:SQ) shares rose after the company reported its first-quarter financial results on Thursday. Here’s a look at the highlights. Block reported quarterly sales of $5.957 billion, which beat the analyst consensus estimate of $5.821 billion, representing a 19.38% increase over sales of $4.99 billion from last year. The company reported adjusted earnings of […]
The stock market breathed a sigh of relief as Fed Chair Jerome Powell eased fears of interest rate hikes amid recent inflation surprises. The Fed now plans to hold rates steady longer to ensure inflation moves toward the central bank’s 2% target. In April, the labor market displayed some signs of cooling, with the pace […]
Bitcoin’s tumble is piquing the interest of investors who view pronounced swings in the digital token as a possible precursor for broader changes in risk appetite in global markets. The cryptocurrency has shed about 4% in the past two days following a near 16% plunge in April, the worst monthly drop since Sam Bankman-Fried’s FTX […]
Oil prices fell about 3% to a seven-week low on Wednesday on a surprise build in U.S. crude stocks, the prospect of a Middle East ceasefire agreement and as hopes faded for near-term U.S. interest rate cuts that could boost oil demand. Brent <LCOc1> futures for July delivery fell $2.89, or 3.4%, from where the […]
The company is set to become a larger presence in the Northeast. A new deal that’s sure to ramp up Blink Charging‘s (BLNK 11.15%) presence alongside roads in the Northeast got investors excited about the stock Thursday. They greeted news of the arrangement by trading Blink’s shares up by more than 11% in price that day, a far more […]
Former BitMEX CEO Arthur Hayes believes Bitcoin has hit a local bottom and will slowly grind back up over the next few months. In a blog post on May 3, Hayes commented on the recent market slump, claiming that “The price action played out as I expected.” Bitcoin hit a local low of around $58,600 earlier this week but will rally […]
The cryptocurrency sector is getting a nice boost today from yesterday’s commentary from Federal Reserve Chairman Jerome Powell. The market received a jolt from Powell’s commentary in a press release; he suggested the direction of the next Fed move will most likely be lower. The market had previously priced in some chance of an interest […]
