The price of Bitcoin has soared this week while the US dollar — the world’s number one reserve currency — tumbled. Could this be the beginning of the end of the greenback’s reign? Bitcoin (XBT) hit a high of more than $48,000 on Tuesday after Tesla (TSLA) reported a $1.5 billion investment in the cryptocurrency and said it could soon be used to buy its […]
Brent crude was up by 11 cents, or 0.2%, at $61.20 by 0110 GMT after rising nearly 1% on Tuesday, when it touched a 13-month high. U.S. crude added 2 cents to $58.28. Crude inventories fell by 3.5 million barrels in the week to Feb. 5 to about 474.1 million barrels, data from the American […]
Qualcomm Inc on Tuesday released a new chip for connecting devices to 5G networks that it hopes will be adopted for home internet use and inside businesses as a competitor to WiFi. The San Diego chip designer is the biggest supplier of modem chips that connect smart phones and other consumer electronics to cellular data […]
Bitcoin hit a fresh record above $48,000 on Tuesday after Tesla Inc.’s announcement of a $1.5 billion investment in the largest cryptocurrency. The token rose as much as 7.9% to almost $48,216 before paring some of the gains. It was at about $48,000 as of 3:16 p.m. in Hong Kong. Tesla’s disclosure Monday sent the […]
The rocketing in the price of bitcoin (BTC-USD), volatility in meme stocks like GameStop (GME) and generally high valuations for stocks has led many investors to ask whether stocks are in a bubble. One veteran investor says these three criteria for a bubble aren’t currently being met. “One, of course, is widespread optimism,” Hugh Johnson, […]
Bond yields have been surging. That, in theory, should make stocks less attractive on relative valuation terms. Yet the stock market rally has hardly been derailed as the yield on the 10-year Treasury TMUBMUSD10Y, 1.162% reached 1.20% on Monday, extending this year’s nearly quarter-point advance. U.S. stock futures ES00, -0.01% pointed to an upbeat start […]
On Wall Street, the S&P 500 ended last week by notching its fifth gain in a row and its biggest weekly increase since November. The benchmark index rose 0.4% and ended the week 4.6% higher, more than making up for its decline in January. The latest gain nudged the S&P 500 to another all-time high. […]
U.S. stock index futures rose in early morning trading Monday, as the major averages looked to build upon gains following the best week since November. Futures contracts tied to the Dow gained 92 points. S&P 500 futures and Nasdaq 100 futures also traded in positive territory. The S&P 500 closed at a record high on […]
Hong Kong and mainland China stocks rose, tracking gains in regional markets as investors look forward to a US$1.9 trillion coronavirus relief package in the US to spur a broader global recovery. Rare earth producers jumped again on concerns political unrest in Myanmar will squeeze supply.The Hang Seng Index added 0.1 per cent to 29,319.47, after rising as much […]
TOKYO — Asian shares mostly rose Monday, echoing the rally on Wall Street last week, with Japan’s benchmark momentarily reaching three-decade highs on growing optimism over the global economy. Japan’s Nikkei 225 NIK, +2.12% surged 2% in morning trading. Australia’s S&P/ASX 200 XJO, +0.59% rose 0.9% while South Korea’s Kospi 180721, -0.94% was about flat. […]
Global equities reached another record and Treasury yields rose after Janet Yellen pushed for rapid U.S. stimulus and coronavirus infections slowed across the globe. The dollar steadied after Friday’s slide. S&P 500 and European futures advanced after the U.S. gauge hit a record on Friday. Japan’s Topix index was on course for its highest close […]
U.S. stocks extended their recent rally on Friday and the S&P 500 and Nasdaq indexes scored their biggest weekly percentage gains since the U.S. elections in early November, boosted by optimism over earnings, stimulus talks and progress on vaccine rollouts. Both the Dow Jones industrial average and S&P 500 rose for a fifth straight session […]
