The Dow soared 700 points to end the week as traders cheered the end of the debt ceiling fight. The Senate voted to send the bill to raise to country’s borrowing limit for two years to Biden’s desk. Markets were also encouraged by strong nonfarm payroll data that showed employers added 339,000 jobs in May. […]
Bitcoin rose a little on Friday, but largely shrugged off an unexpectedly strong jobs report, along with a week’s worth of upset and uproar over the U.S. debt ceiling, end-game negotiations and renewed inflation concerns. The largest cryptocurrency by market capitalization was recently trading at about $27,180, up 1.2%. BTC edged above $27,000 shortly before […]
Two months ago, Bud Light rolled the dice on a marketing push involving transgender activist Dylan Mulvaney, a move that has been met with customer pushback, boycotts and a big hit to the bottom line in the form of falling sales and the value of parent company Anheuser-Busch InBev. About $27 billion in market value […]
The crypto market has taken a hit this week, with investor sentiment turning increasingly bearish. Various factors are contributing to this negative sentiment, which has seen Bitcoin drop by over 5% in the past four days while Ethereum has slumped by 3%. In this article, we take a closer look at these factors before highlighting […]
Binance’s market share has dropped to its lowest level in eight months, according to data from CCData. Although the exchange is still the largest cryptocurrency platform by trading volume, it has seen its market share decline consecutively over the past three months after reaching a yearly high of 57% in February 2023. Binance’s market share […]
Mercado Bitcoin, Brazil’s largest crypto exchange, was licensed as a payment institution by Brazil’s central bank on Friday, Valor Economico newspaper reported. The company is now authorized to operate as a payment institution, under the status of an electronic money issuer. “The central bank’s approval is an important step, as it allows us to continue with […]
Tech stocks still haven’t fully rebounded from a miserable 2022, but they’re rewarding investors who saw the sell-off as too extreme. The Nasdaq Composite gained 2% this week, wrapping up the sixth-straight weekly rally for the tech-heavy index. It’s the longest stretch since January 2020, before the Covid-19 pandemic hit the U.S. Stocks across the […]
The U.S. economy continued to crank out jobs in May, with nonfarm payrolls surging more than expected despite multiple headwinds, the Labor Department reported Friday. Payrolls in the public and private sector increased by 339,000 for the month, better than the 190,000 Dow Jones estimate and marking the 29th straight month of positive job growth. […]
Profitability is dropping as shoppers frequent stores less. What happened Shares of discount retail chain Dollar General (DG -19.51%) got clobbered by the market on Thursday after the company released its latest quarterly financial results. As of 11 a.m. ET, Dollar General stock was down almost 20%, hitting 52-week lows and wiping out about 3.5 years of gains. So […]
Asia-Pacific shares mostly rose as traders look ahead to the U.S. May jobs report, with Hong Kong’s Hang Seng index trading as high as 4% and leading gains in the wider region. The consumer and real estate sector steered the index’s advances, with investment holding company Longfor soaring 14.48% and automotive company Zhongsheng Group surging […]
Despite a 44% decline in Bitcoin mining profitability over the last year, some Bitcoin mining companies have continued to build and increase production, according to recent announcements. On June 1, American Bitcoin mining firm CleanSpark announced that it had purchased 12,500 brand-new Antminer S19 XP units for $40.5 million. The deal worked out at $23 per terahash […]
May gray turned to June gloom on Thursday as crypto prices veered slightly into the red. Bitcoin, the largest cryptocurrency by market capitalization, was recently trading at about $26,950, down 0.5% over the past 24 hours and the second consecutive day BTC dropped below $27,000, according to CoinDesk Indexes. The inauspicious beginning to June carried […]
