Stock Markets The stock market index benchmarks closed the week mixed as the large-cap and growth stocks surge higher for the second week in a row. Sectors sensitive to interest rate movement, such as the real estate sector, outperformed the rest of the market due to the plunge of the longer-term Treasury yields. Underperforming other […]
All three major averages notched record closes on Friday, rebounding from the previous session’s losses over concerns of a slowdown in global economic growth. The Dow Jones Industrial Average rose 448.23 points, or 1.3%, to a record close of 34,870.16. The S&P 500 bounced by about 1.1%, closing at an all-time high of 4,369.55. The […]
It’s been a rocky week for stocks as falling yields raised fears the global economic recovery from the pandemic will come in fits and starts. On Thursday, the 10-year yield touched 1.25%, its lowest level since February. The S&P 500 is set to close out the week barely positive. CNBC’s “Trading Nation” asked two technicians […]
LONDON — Top financial institutions are calling for global cooperation on central bank digital currencies. The Bank for International Settlements, the global body for central banks, issued a report Friday saying that central banks should work to achieve “interoperability” between their digital currency projects. This can be achieved through a number of ways, the report […]
Israel has said it will begin seizing cryptocurrency accounts used by the Palestinian Hamas group to raise money for its armed wing. Israeli Defence Minister Benny Gantz ordered security forces on Thursday to seize the accounts after a joint operation, the ministry said, “uncovered a web of electronic wallets” used by Hamas to raise funds […]
It’s far from a market in turmoil, but a day after stocks touched record highs it is a market getting drilled with some valid fears. The Dow Jones Industrial Average tanked nearly 500 points in early afternoon trading Thursday as investors showed concern that the plunge in the 10-year Treasury yield was signaling an economic […]
Crypto skeptic U.S. Sen. Elizabeth Warren (D-Mass.) gave the Securities and Exchange Commission (SEC) until the end of this month to figure out its role in regulating cryptocurrencies. The senator, who chairs the Senate Banking Committee’s Subcommittee on Economic Policy, said in a letter to SEC Chair Gary Gensler that she needs answers by July […]
Cryptocurrencies were in the crosshairs Thursday. Bitcoin, ether and litecoin all tumbled as investors soured on riskier assets in favor of safe havens such as bonds. Craig Johnson, chief market technician at Piper Sandler, is watching the charts closely for which way bitcoin could break next. “We broke out in January. A few months ago, […]
U.S. Senator Elizabeth Warren on Thursday warned of the growing risks posed to consumers and financial markets by the “highly opaque and volatile” cryptocurrency market and blasted its lack of regulation as unsustainable. Warren, a Democrat who chairs the Senate Banking Committee’s Subcommittee on Economic Policy, also raised her concerns in a letter to Securities […]
Disagreement within OPEC could trigger a more a volatile period for oil, with prices jumping on lack of new supply or sinking suddenly if member countries decide to release crude independently. Oil prices initially surged to a six-year high on news that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, […]
Federal Reserve officials talked tapering at their most recent meeting, but few seemed in a rush to get the process going, according to minutes released Wednesday. The Federal Open Market Committee’s June 15-16 meeting summary provided only a few new glimpses into talks about when the central bank should begin reducing the pace of its […]
Tether is the third-biggest cryptocurrency in the world by market value. And it’s got some economists — including an official at the U.S. Federal Reserve — worried. Last month, Boston Fed President Eric Rosengren raised the alarm about tether, calling it a potential financial stability risk. Meanwhile, some investors believe a loss of confidence in tether could […]
