Stocks tumbled on Friday as the postelection rally fizzled and investors fretted over the path of interest rates. The Dow Jones Industrial Average lost 305.87 points, or 0.70%, to end at 43,444.99. The S&P 500 slipped 1.32% and closed at 5,870.62, while the Nasdaq Composite fell 2.24% to 18,680.12. Declines in pharmaceutical stocks weighed on the 30-stock Dow and the S&P […]
Hedge funds including Millennium Management, Capula Management and Tudor Investment increased their exposure to U.S. spot bitcoin exchange-traded funds in the third quarter, securities filings showed, as a popular election-driven arbitrage trade ramped up. President-elect Donald Trump embraced digital assets during his campaign, promising friendly regulation and to accumulate a national stockpile of bitcoin. The cryptocurrency surpassed […]
Goldman Sachs, a major global investment bank once critical of Bitcoin, has disclosed significant holdings in Bitcoin exchange-traded funds (ETFs). In a Nov. 14 filing with the United States Securities and Exchange Commission, Goldman Sachs reported about $718 million in holdings in eight Bitcoin BTC$91,361 ETFs. The report disclosed a $461-million investment in BlackRock’s spot Bitcoin ETF, the iShares […]
Some of the largest banks in the UK may have to pay billions of pounds to consumers over contentious lending practices at car dealers. In response to an October judgement by the UK’s Court of Appeal, many British banks are considering halting auto lending entirely. The court ruled it was unlawful for car dealerships to receive […]
Federal Reserve Chair Jerome Powell said Thursday that strong U.S. economic growth will allow policymakers to take their time in deciding how far and how fast to lower interest rates. “The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in remarks for a speech to business […]
The Bitcoin price has soared to a new all-time high, driven by the bullish sentiment generated by the Donald Trump effect following the just-concluded US Presidential elections. The last time Trump won the US election in 2016, Bitcoin experienced a similar bullish reaction, surging to new ATHs around that time. The Trump Effect On The Bitcoin Price Crypto analyst […]
Disney might be proving the world’s most famous investor wrong. Last year, Warren Buffett, “The Oracle of Omaha,” told CNBC’s Becky Quick he had no faith in the business of streaming video. “Streaming … it’s not really a very good business,” Buffett said on April 12, 2023. “The shareholders really haven’t done that great over time.” Buffett wasn’t lying. […]
Bitcoin Could Reach $180,000 by Next Year, Says Vaneck’s Sigel Sigel’s outlook on bitcoin (BTC) remains bullish, fueled by what he identifies as indicators of a continued rally. Following recent price surges, he noted that BTC has seen similar patterns during past cycles, notably around elections, with rising demand and steady price recovery. According to the Vaneck executive, BTC’s price growth is […]
Global oil markets face a surplus of more than 1 million barrels a day next year as Chinese demand continues to falter, cushioning prices against turmoil in the Middle East and beyond, the International Energy Agency said. Oil consumption in China — the powerhouse of world markets for the past two decades — has contracted […]
Nearly three years have passed since NFL wide receiver Odell Beckham Jr. revealed he would receive his salary from the Los Angeles Rams in Bitcoin. His decision to veer away from getting paychecks in traditional currency raised some questions at the time. Beckham’s 2021 base salary of $1.25 million, along with another $3 million available […]
Investors have been busy for at least the past several weeks bidding up prices in anticipation of what President-elect Donald Trump will do when he takes office. Expectations are running high that potential tariffs won’t lead to adverse outcomes, the 2017 tax cuts will be renewed and be accompanied by others, and deregulation will spur […]
Bitcoin’s (BTC) price soared to a record of $93,445 late Wednesday but has since retreated to hover around that all-important resistance level of $90,000. This level is identified by a trendline connecting the twin peaks from 2021, making it a key point to watch. Interestingly, a similar trend has played out in the Nasdaq-to-S&P 500 (NDX/SPX) ratio, which […]
