The dollar traded modestly weaker against most major peers on Friday, and was on pace for its worst weekly showing against the euro this year after mixed data kept an anticipated June interest rate cut from the Federal Reserve on the table. Nonfarm payrolls increased by 275,000 jobs last month, the labor department’s Bureau of Labor […]
Stocks ended the week with a thud, closing down on Friday, as investors pulled back after February’s job report and market powerhouse Nvidia (NVDA) had a rare off-day. The S&P 500 (^GSPC) lost 0.7% after logging another record close on Thursday, while the Dow Jones Industrial Average (^DJI) shed 0.2%, with losses pared by a […]
Chairman of the US Federal Reserve Jerome Powell spoke before the Senate on Thursday, stating that the US was “nowhere near” CBDC development. Powell said that the Fed were not close to implementing a digital dollar, as it has no interest in a system that would require user data, saying that the US government would […]
PayPal has expanded its Tap to Pay on iPhone offering in the U.S. The company said in a Thursday (March 7) press release that the service is now available for all U.S. Venmo business profile and PayPal Zettle users, letting them accept contactless card and digital wallet payments on their iPhones with no additional cost or hardware. “Consumers are increasingly going cashless,” PayPal said […]
Stocks rose Wednesday, with the market turning a corner following back-to-back losing sessions on Wall Street. The S&P 500 added 0.51% to 5,104.76, while the Nasdaq Composite gained 0.58% to 16,031.54. The Dow Jones Industrial Average traded higher by 75.86 points, or 0.2%, to close at 38,661.05. The blue-chip average was weighed down by a drop of more than 2% in Disney. […]
US stocks popped on Wednesday, with techs vaulting back from a steep sell-off as investors digested Federal Reserve Chair Jerome Powell’s stance that interest rate cuts are still likely this year. The tech-heavy Nasdaq Composite (^IXIC) jumped nearly 0.6% after techs led a sharp slide in stocks more broadly on Tuesday. The S&P 500 (^GSPC) […]
Bitcoin rallied again on Wednesday in volatile trade, while ether jumped almost 10% as crypto mania continued to sweep through the investment community. Bitcoin rose by as much as 6.8% to a session high of $67,645, after having dropped 6% on Tuesday from an earlier record high above $69,000. It was last up 5.7% at […]
The Arizona State Senate is considering a proposal to encourage the inclusion of Bitcoin exchange-traded funds (ETFs) in two of the state’s retirement portfolios. The resolution is currently being reviewed by the House for a second time after it passed the Senate’s Third Reading in a 16-13 vote on Feb. 22, records show. If passed, the […]
The next big catalyst that could shake up the stock market is the February CPI report, according to a recent note from Fundstrat. The inflation reading, which is scheduled to be released on March 12, will signal to investors whether the Federal Reserve could soon cut interest rates. “To us, this is also the decision […]
Japan’s Nikkei stock index has been on a record-breaking spree on the back of robust earnings and investor-friendly measures. But the country’s ailing economy has experts divided over this sustainability of this rally. The Nikkei 225 surged past the 40,000 mark on Monday, with some economists forecasting it still has room to climb, having surpassed […]
Bitcoin rallied to a two-year high on Monday, breaking above $68,000 as a wave of money carried it within striking distance of record levels. The price hit a session high of $68,580 and was last at $68,161. Bitcoin hit a record $68,999.99 in November 2021. The largest cryptocurrency by market value has gained 50% this […]
Bitcoin hit a new all-time high Monday against the euro, surpassing 60,000 euros (approximately $65,000) according to Coinbase and CoinMarketCap. Coinbase clocked bitcoin’s new record euro price at 60,549.61 euros early Monday. CoinMarketCap’s figure was not far off at 60,417.87 euros. Kraken and data firm TradingView came in at the lower end of the range, […]
