LONDON — U.K. inflation fell by more than expected to hit 3.9% in November, in the lowest annual reading since September 2021. Economists polled by Reuters had expected a modest decline in the headline consumer price index to 4.4%, after the 4.6% annual reading of October surprised to the downside by dropping to a two-year […]
Stock futures climbed Thursday morning after the recent market rally took a breather. S&P 500 futures added 0.5%, while the Nasdaq 100 futures advanced 0.66%. Futures connected to the Dow Jones Industrial Average climbed 138 points, or 0.4%. Micron jumped more than 4% in postmarket action after beating Wall Street expectations for the first three months of its new fiscal year. […]
Phantom’s march toward adding support for a variety of chains took another step as it announced that users can now trade and transfer bitcoin, Ordinals and BRC-20 tokens. The wallet’s new optionality is “currently in beta so it’s 100% opt-in,” Phantom said in a post to X. “Without Bitcoin BTC +2.22%, there’d be no Solana, Ethereum, or web3. […]
Representatives from BlackRock (BLK), Nasdaq, and the Securities and Exchange Commission (SEC) met for the second time in a month to discuss rule changes that are necessary to list the bitcoin (BTC) exchange-traded fund (ETF), according to a published memo. “The discussion concerned The NASDAQ Stock Market LLC’s proposed rule change to list and trade […]
MSCI’s global equity index advanced slightly, oil prices rallied on supply concerns and U.S. Treasury yields rose on Monday as investors digested mixed messages from the Federal Reserve about the prospects for 2024 interest rate cuts. Oil prices climbed after Iranian-backed Houthi militants stepped up attacks on vessels in the Red Sea, raising concerns about […]
Wall Street’s upbeat outlook on interest rate cuts is prompting more optimistic calls on stocks, too. With inflation falling faster than many initially projected, the Federal Reserve taking a dovish turn, and bond yields sinking, Goldman Sachs now sees the S&P 500 (^GSPC) closing out 2024 at 5,100. In its initial outlook released about a […]
Bitcoin starts a new week in risky territory as sell-offs from whales mark a change in mood. The latest weekly close has done little to comfort nervous traders as a pause in “up only” BTC price activity continues. With just two weeks to go until the yearly candle concludes, the countdown is on — together […]
US stocks edged higher Monday, building on a seven-week climb even as Federal Reserve officials tried to rein in high expectations for interest rate cuts. The Dow Jones Industrial Average (^DJI) was virtually unchanged, as the index just barely notched another record close. The benchmark S&P 500 (^GSPC) gained nearly 0.5%, while the tech-heavy Nasdaq […]
In recent weeks, President Joe Biden has been doing everything he can to point the finger at big corporations for high prices. “Too many things are unaffordable,” the president said. “Stop the price gouging,” Biden said on another recent occasion. The blame game may be good retail politics, and the president has announced some real actions to alleviate consumer financial […]
The Dow Jones Industrial Average closed higher Friday after a whipsaw session, where it marked a fresh intraday record, and the tech-heavy Nasdaq-100 set a record close. All three major averages scored their seventh-straight winning week. The Dow closed up 56 points, or 0.2%, at 37,305.16. The S&P 500 slipped 36 points, or 0.01%, to 4,719.19 while the Nasdaq Composite closed up 52 […]
Bitcoin’s (BTC) rally stalled, putting it on track to snap a historic eight-week streak of gains as its price remained muted at around $42,000 as of Friday. The largest cryptocurrency by market cap recovered to $43,000 after Monday’s 10% flash crash to $40,000 that flushed overenthusiastic leveraged bets on higher prices. A dovish Federal Reserve projecting rate […]
Grayscale is evaluating the possible tax consequences associated with spot Bitcoin exchange-traded funds (ETF) following inaccurate reports circulating about unfavorable tax implications. In a series of posts on X (formerly Twitter), Grayscale clarified that retail investors of the Grayscale Bitcoin Trust (GBTC) are not expected to incur tax implications when the fund sells Bitcoin to […]
