The Federal Reserve’s preferred inflation measure will be the main obstacle for stock market bulls looking to extend the recent rally in the week ahead. Thursday morning will bring the release of the Personal Consumption Expenditures (PCE) index for October, and economists expect “core” PCE inflation — the Fed’s preferred gauge — rose 3.5% annually […]
Stock futures dipped on Sunday evening as Wall Street looks to build on four straight positive weeks for the equity market. Futures for the Dow Jones Industrial Average ticked down 38 points, or 0.1%. Futures for the S&P 500 and Nasdaq 100 slipped about 0.2% each. Wall Street is coming off the fourth-straight winning week […]
A state-owned Chinese bank will link the digital yuan to the “world’s biggest small commodities market” via the latter’s payment platform. Per the People’s Daily, the new “cross-border” CBDC drive is the brainchild of the Bank of China and the city of Yiwu. Not to be confused with the central People’s Bank of China, the […]
Bitcoin deposits and withdrawals have returned to the Justin Sun-linked crypto exchange HTX, formerly Huobi, after it suffered a $30 million exploit on Nov. 22. In a Nov. 26 blog post, HTX said deposit and withdrawal functionality is back for multiple currencies, including BTC, Ether, Tron and Tether. In a later post on X (Twitter), Justin […]
Previously struggling sectors of the stock market are now rebounding to help drive a year-end rally. The stock market gained steam in early November as investors gained confidence the Federal Reserve was likely done with its historic series of interest rate hikes this year – and picked up again in the middle of the month […]
US stocks closed mixed on Friday amid a low-volume day of trading following the Thanksgiving holiday. The Dow Jones Industrial Average (^DJI) closed up about 0.3%, or more than 100 points higher, while the benchmark S&P 500 (^GSPC) hugged the flatline. The tech-heavy Nasdaq composite (^IXIC) lagged, falling roughly 0.1%. All three major indices closed […]
A significant number of Grayscale Bitcoin Trust (GBTC) shares have been bought in the secondary market this year at a deep discount to net asset value (NAV) in anticipation the trust’s conversion to an exchange-traded fund (ETF) will be approved by the U.S. Securities and Exchange Commission (SEC), JPMorgan (JPM) said in a research report Thursday. The […]
Crypto prices have recovered from a big dip earlier in the week, with bitcoin hitting a new high for 2023 on Friday. Bitcoin was last higher by 1.42% at $37,862.76 for the first time since May 2022, according to Coin Metrics. It’s on pace to end the week higher by 3.9%. Coin Metrics measures a week in […]
Asia-Pacific markets are mixed after Wall Street went into the Thanksgiving holiday with a broad based rally. More than half of the stocks trading on the New York Stock Exchange were up Wednesday. The tech-heavy Nasdaq also saw greater participation, with 62.9% of the stocks in the index rising. Small- and mid-caps outperformed Wednesday, rising 0.7% and 0.6%, […]
Stocks rose Wednesday after yields briefly fell to their lowest level in two months, and the November market rally broadened into the Thanksgiving holiday. The Dow Jones Industrial Average gained 184.74 points, or 0.53%, to 35,273.03. The S&P 500 climbed 0.41% to 4,556.62. The Nasdaq Composite advanced 0.46% to 14,265.86. More than half of the stocks trading on the New York […]
Volatile crypto markets this week have resolved to the upside Wednesday afternoon, with bitcoin (BTC) pushing through $37,400 and now higher for the week despite the exit from the scene of another major crypto figure. Crypto markets were initially buffeted Monday on the leak of a potential massive settlement of U.S. criminal charges against Binance, the world’s […]
In an exclusive interview with CNBC, Tom Farley, the former President of the New York Stock Exchange (NYSE) and current CEO of Bullish, shared his optimistic outlook on the future of cryptocurrency, particularly Bitcoin, upon the potential approval of a Bitcoin spot exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC). Farley’s comments come […]
