U.S. equity markets ended mixed Monday as tech shares pulled back on valuation concerns and cyclical names gained. Mega-cap tech stocks including Apple Inc., Tesla Inc. and Microsoft Corp. were under pressure as inflation concerns caused bond yields to rise, weighing on growth names. The 10-year yield climbed another 2.6 basis points to 1.37% and […]
What happened Shares of three widely followed Chinese electric-vehicle makers — NIO (NYSE:NIO), XPeng (NYSE:XPEV), and Li Auto (NASDAQ:LI) — were all down on Tuesday morning. The companies’ shares were caught in a wave of selling triggered in part by signs that U.S. interest rates may be on the rise. Here’s where things stood as of 10:30 a.m. EST, relative to Monday’s […]
European shares opened generally higher on Wednesday but world shares remained in the red after a weak Asian session, even after Fed Chair Jerome Powell pushed back against inflation fears. Falling tech stocks pulled Asian markets lower overnight, as recent gains in U.S. Treasury yields put lofty valuations under pressure. In his testimony before the […]
Bitcoin’s price roared back Wednesday after a sharp sell-off, climbing above $50,000 again as Square announced it had purchased $170 million worth of the cryptocurrency. At 4 a.m. ET, the world’s most valuable digital coin surged 7.5% to a price of $50,683, according to data from Coin Metrics. The cryptocurrency climbed as high as $51,369 […]
A surge in bitcoin balances on major cryptocurrency exchanges preceded Monday’s sell-off, potentially a sign that this year’s doubling in prices tempted some digital-asset investors to take profits. The price of bitcoin, the largest cryptocurrency, tumbled 7.6% to about $52,800. It was the biggest decline in a month and trimmed the year-to-date gain to about […]
As Bitcoin breaks the $50,000 mark and the Dow hovers in the low 30,000s, a new report from the Bank of America and EPFR Global reveals that the latest market exuberance “may precede a correction,” Bloomberg reports. The BofA and EPFR Global data revealed that stocks had inflows of $58 billion between Feb. 3 and […]
Hedge funds are still licking their wounds after a retail trading frenzy forced the industry to slash its overall exposure to stocks, leading to an underperformance in 2021. Last month, an army of retail investors who coordinated on social media managed to push GameStop shares up 400% in just one week, creating massive squeezes in […]
Bitcoin traded within a record-setting $10,877 range Monday after plummeting from its all-time highs above $58,000 set over the weekend. This marks the leading cryptocurrency’s first five-figure daily price range. Bitcoin dropped from its Monday high of $57,577 on Coinbase to a low of $46,700 before rebounding to pare most of its losses toward the […]
Stock futures declined in early morning trading on Monday after the S&P 500 posted its first losing week in three. Futures on the Dow Jones Industrial Average dropped 160 points. S&P 500 futures and Nasdaq 100 futures also traded in negative territory. The move in futures came after the S&P 500 and the Nasdaq Composite […]
As Bitcoin breaks the $50,000 mark and the Dow hovers in the low 30,000s, a new report from the Bank of America and EPFR Global reveals that the latest market exuberance “may precede a correction,” Bloomberg reports. The BofA and EPFR Global data revealed that stocks had inflows of $58 billion between Feb. 3 and […]
AUD/USD refreshes 35-month top with 0.7899 figures, currently up 0.23% around 0.7885, during Monday’s Asian session. In doing so, the bulls keep the reins following the heaviest run-up in seven weeks posted last Friday. While looking for the catalysts, the overall upbeat sentiment joins headlines from the global rating agency Fitch and comments from Chinese […]
Oil prices rose on Monday as the slow return of U.S. crude output that was cut by frigid conditions raised concerns about supply just as demand is coming back from the depths of the coronavirus pandemic. Brent crude was up 76 cents, or 1.2%, at $61.67 a barrel by 0104 GMT, after gaining nearly 1% […]
