Dylan Run, a Shanghai-based finance sector executive, started moving a bit of his money into cryptocurrencies in early 2023, when he realized that the Chinese economy and its stock markets were going downhill. Crypto trading and mining has been banned in China since 2021. Run used bank cards issued by small rural commercial banks to […]
Major cryptocurrencies were on a tear at the end of last year, driven higher by anticipation that US regulators would approve bitcoin exchange-traded funds, broadening the pool of potential investors. Once those funds received the go-ahead, bitcoin fell. What gives? Bitcoin topped $47,000 early this month for the first time since April 2022, as investors […]
Nasdaq 100 futures slid on Thursday evening after Intel issued an outlook that fell short of Wall Street’s expectations. Futures linked to the tech-heavy index shed 0.5%. S&P 500 futures dropped 0.2%, while Dow Jones Industrial Average futures slipped 81 points, or 0.2%. In after-hours trading, Intel’s stock price sunk 10% after the chip manufacturer posted disappointing fiscal first-quarter guidance for the top […]
US stocks rose on Thursday despite downbeat earnings from Tesla (TSLA) and following a hotter-than-expected US economic growth reading. Dow Jones Industrial Average (^DJI) rose 0.6% while the S&P 500 (^GSPC) rose 0.5% following the benchmark’s fourth straight record close logged on Wednesday. Stocks in the tech-heavy Nasdaq Composite (^IXIC) rose about 0.2%. The S&P […]
Bitcoin celebrated its 15th birthday this month by bursting onto Wall Street with an ebullient bang. Now the adolescent asset may have to grow up fast. Investors have embraced 11 U.S. exchange traded funds (ETFs), tracking bitcoin’s spot price, that began trading on Jan. 11 after receiving regulatory approval; after two trading days, they held […]
Bitcoin (BTC) slumped under $39,000 during Tuesday’s European trading hours, reversing nearly all of the past two months’ gains carved out in anticipation of spot exchange-traded fund (ETF) approvals in the U.S. BTC fell nearly 5% in the past 24 hours, reaching its lowest level in two months. The CoinDesk 20, a liquid index of the highest […]
China is considering a rescue package backed by offshore money to stave off a slump in its struggling stock markets, according to Bloomberg News. The report, citing people familiar with the matter, said Chinese authorities are aiming to get about 2 trillion yuan ($278 billion), primarily through offshore accounts of Chinese state-owned companies to help stabilize […]
The S&P 500 (^GSPC) extended its record-setting rally as focus turned to the day’s stream of earnings for insights into the health of corporate America and the economy. The S&P 500 rose nearly 0.3% to hit a new closing high of 4,864.61. The Nasdaq Composite (^IXIC) also popped Tuesday, rising 0.4% while the Dow Jones […]
It’s been a rough start to the year for air travel related stocks and one of their main suppliers, Boeing (BA). The industrial giant has lost about $35 billion in market cap since the start of the year. Almost $30 billion of that loss came after a door “plug” flew off an Alaska Airlines (ALK) […]
The SEC’s recent decision to approve nearly a dozen bitcoin ETFs was hailed as a major win for crypto. But not by everyone. On X/Twitter, a disgruntled faction of the cryptocurrency community cried foul over the alleged heresy of a bitcoin product custodied and marketed by the likes of BlackRock. The most common objection seems […]
Exchange-traded fund experts anticipate spot bitcoin ETFs, which debuted this month, to spark a new wave of crypto products. Cboe Global Markets’ Catherine Clay believes options are a natural progression for bitcoinETFs. “We believe that the utility of the options, what they provide to the end investor in terms of downside hedging, risk-defined exposures into […]
After a ho-hum start to 2024, stocks took off on Thursday and Friday, with the S&P 500 finishing at an all-time high, two years after the last high, and record closes for the Dow and the Nasdaq-100. To get repeat performances in the week ahead and the week after will be challenging. Equally challenging will […]
