Shiba inu coin, a meme-based cryptocurrency that is based off another meme-based cryptocurrency that makes fun of cryptocurrencies altogether, soared more than 20% on Tuesday to hit a record high of $0.00004853, according to data from CoinMarketCap. The move higher in the cryptocurrency was sparked Monday evening after an anonymous crypto whale purchased 276.6 billion […]
Stock trading app Robinhood reported Tuesday a huge revenue miss for the third quarter, as cryptocurrency trading dropped off. Robinhood said that, barring any change in the market environment, the headwinds that dragged down last quarter — like lower retail trading activity — will persist into year-end. Shares of the newly public company tanked by 8% in after-hours […]
There are signs that price growth could be cooling off in the otherwise red-hot housing market. Prices rose 19.8% year over year in August, which was the same as the previous month, according to the S&P CoreLogic Case-Shiller Indices. That is the first time the annual gain hasn’t increased since early 2020. The 10-city composite […]
U.S. stocks climbed to record levels on Tuesday as major corporations continued to turn in solid quarterly results, but major averages closed off their highs of the day with some major tech names rolling over. The Dow Jones Industrial Average gained 15.73 points to close at another record high of 35,756.88. At one point, the […]
The Central Bank of Nigeria joined a growing list of emerging markets betting on digital money to cut transaction costs and boost participation in the formal financial system. “Nigeria has become the first country in Africa, and one of the first in the world to introduce a digital currency to her citizens,” President Muhammadu Buhari […]
As supply-chain bottlenecks persist, investors are preparing for backlogs to continue into next year, and that’s fueling concerns of even higher inflation. “The biggest risk that we have right now is that inflation expectations become unanchored,” Katie Nixon, Northern Trust Wealth Management CIO, said Monday at Yahoo Finance’s All Markets Summit when discussing higher prices […]
Despite the ever scary inflation headlines, the Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) are flirting with record highs. That’s counter to prevailing wisdom, right? On paper, increasing inflationary pressure brought on mostly from the pandemic should be pounding corporate profit margins and weighing on outlooks. So far this earnings season, on balance […]
As people lose confidence in the government institutions, bitcoin could benefit and rise to become the world’s reserve currency, Senator Rand Paul said. “I’ve started to question now whether or not cryptocurrency could actually become the reserve currency of the world as more and more people lose confidence in the government,” he said. Senator Paul […]
New home prices in China slid 0.8% in September. It was the country’s first real estate decline in six years, triggered largely by the Evergrande fiasco. Residential sales, meanwhile, tumbled 17%. Given China’s massive role in global trade, its problems could easily extend to the U.S. economy and spark something worse than inflation: stagflation. Stagflation […]
Stock futures edged higher in early morning trading Monday after the Dow Jones Industrial Average notched its third positive week in a row at a record high. Dow futures rose 18 points. S&P 500 futures and Nasdaq 100 futures traded in mildly positive territory. Wall Street is coming off a winning week on the back […]
This week marked a milestone for cryptocurrency as investors started trading the first U.S. bitcoin futures exchange-traded fund, exceeding other ETF launches, and another followed Friday. These funds invest in bitcoin futures contracts, or agreements to buy or sell the asset later for an agreed-upon price, rather than bitcoin directly. The new products allow trading […]
Shiba Inu (SHIB), the self-proclaimed dogecoin killer, tapped lifetime highs on Sunday as bitcoin appeared on track to snap its three-week winning streak. The Shiba Inu coin traded at $0.0000455 at 11:20 UTC, topping the previous record price of $0.0000388 reached on May 10, according to data source Messari. Prices for the meme token have […]
