Stock Markets The past trading week saw indexes mixed with a high level of volatility. The large-cap benchmark indexes as well as the technology-heavy Nasdaq Composite index saw record highs midweek before the slump towards Friday’s close where they settled with moderate losses. Appearing to buck this trend are the S&P 400 Index for MidCap […]
Shares of Robinhood closed down more than 8% in its Nasdaq debut, after pricing near the low end of its IPO range. The online brokerage started trading at $38 per share, the low end of its range, valuing the company at roughly $32 billion. After dropping as much as 10% and ending the session at […]
Shares of Dole closed Friday down more than 9% as the company made its return to the public markets. The stock opened at $15 per share, giving the company an implied market value of roughly $1.5 billion. However, the opening trade fell below its initial public offering price of $16, which was already on the […]
Key Points The IMF is leery of countries adopting cryptocurrencies as their national currencies. Congress is nervous, too — but eager to tax cryptocurrency profits. The net outcome of all this may secure a long future for Bitcon and its peers. What happened Cryptocurrencies are under attack again Friday — both inside the United States and […]
Buried in the still-unreleased bipartisan infrastructure package is a sweeping crackdown on cryptocurrency transactions that could generate significant tax revenue for the government and major anxiety in a financial technology industry that thrived during the coronavirus pandemic. Lawmakers want people facilitating trades in Bitcoin and other digital assets to be subject to reporting rules similar […]
The International Monetary Fund must ramp up its resources as it seeks to “monitor, advise on, and help manage this far-reaching and complex transition” to digital money, according to an IMF paper published on Thursday. Digital money can make payments more accessible, faster and cheaper, the paper said. But to make that happen, policymakers must […]
LONDON — European stocks closed higher on Thursday as investors digested a fresh round of major corporate earnings and the U.S. Federal Reserve’s reiteration of its dovish policy stance. The pan-European Stoxx 600 provisionally closed up about 0.5%, with basic resources and autos shares leading the gains, climbing 2.4% and 2% respectively. Shares in Asia-Pacific […]
U.S. equities rose toward all-time highs as the latest read on the economy eased concerns about inflation and the Federal Reserve scaling back its ultra-accomodative policies. All of the main American stock indexes advanced, with the S&P 500 and Dow Jones Industrial Average touching records. Ford Motor Co. rallied after a surprise profit. Facebook Inc. […]
Bitcoin is slightly higher Thursday morning, trading just below the $40,000 level. The price was around $39,800 per coin, while rivals Ethereum and Dogecoin were trading around $2,290 and 20 cents per coin, respectively, according to Coindesk. The infrastructure deal agreed upon by lawmakers and President Biden on Wednesday includes a crackdown on cryptocurrencies as […]
Days of heavy selling in Chinese stocks have left two major indexes in the country as the worst-performing markets of Asia-Pacific. At the close of regional markets on Tuesday, the CSI 300 — which tracks the largest stocks listed in mainland China — had plunged 8.83% so far this year. Hong Kong’s Hang Seng index […]
Investors looking for bargains in the Chinese market should beware as stocks there could see further losses, warns UBS Global Wealth Management’s Kelvin Tay. “I think there’s actually more room for this to actually run,” Tay, regional chief investment officer at the firm, told CNBC’s “Squawk Box Asia” on Wednesday. “I certainly don’t think this […]
What happened Wednesday is turning out to be a pretty great day for cryptocurrencies in general, but few were doing quite as well as Ripple (CRYPTO:XRP), which was up an impressive 10.7% approaching noon today. Ripple’s XRP cryptocurrency was moving higher after the cryptocurrency’s developer announced at 2 a.m. EDT today it has just launched a live On-Demand Liquidity (ODL) service to […]
