It was a long, grueling path for many in the crypto world, but it finally happened: The price of bitcoin crossed the $100,000 mark for the first time. Beyond making bitcoin holders quite happy, given the digital currency has risen more than 50% in the past two months, the milestone reached on Wednesday provided some […]
The US economy added more jobs than forecast in November while the unemployment rate ticked higher as the labor market rebounded from a month negatively impacted by severe weather and labor strikes. Data from the Bureau of Labor Statistics released Friday showed 227,000 new jobs were created in November, just above the 220,000 expected by […]
Friday’s jobs report virtually cements that the Federal Reserve will approve an interest rate cut when it meets later this month. Whether it should, and what it does from there, is another matter. The not-too-hot, not-too-cold nature of the November nonfarm payrolls release gave the central bank whatever remaining leeway it may have needed to move, and […]
Former US Secretary of the Treasury Larry Summers said in an interview with Bloomberg that the idea of a national Bitcoin (BTC) reserve is “crazy. “ Summers said he understands the concept of other commodities’ reserves, such as oil and gold, but argued: “Of all the prices to support, why would the government choose to […]
Bitcoin hit a big milestone: On Wednesday night, the digital currency’s price crossed the six-figure threshold for the first time. As of Friday morning, that number hovered around $99,000 according to CoinMetrics. Throughout the day on Thursday, though, the value rose as high as $103,844. Here’s how much a $1,000 investment in bitcoin made one, five or 10 […]
U.S. stocks were lower on Thursday as investors awaited Friday’s big jobs report. The Dow Jones Industrial Average dipped 248.33 points, or 0.55%, to close at 44,765.71. Meanwhile, the Nasdaq Composite slipped 0.18% to end at 19,700.26. The S&P 500 dropped 0.19%, settling at 6,075.11. The three major averages saw solid gains in the previous […]
Oil prices edged lower on Friday, with weak demand in focus after the OPEC+ group postponed planned supply increases and extended deep output cuts to the end of 2026. Brent crude futures fell 6 cents, or 0.1%, to $72.03 per barrel by 0336 GMT. U.S. West Texas Intermediate crude futures lost 1 cent to $68.29 […]
The price of bitcoin soared past the long-awaited $100,000 benchmark for the first time ever late Wednesday evening. By Thursday afternoon, the flagship cryptocurrency pulled back from the milestone. It was recently higher by 0.28% at $99,140.00, according to Coin Metrics, trading at the lows of Thursday’s trading following some profit taking by investors. On […]
Bitcoin’s meteoric run may have gotten a little extra push from an unlikely source: Federal Reserve Chair Jerome Powell. In comments Wednesday about the cryptocurrency, the central bank leader noted that he does not and cannot own any himself. In addition, he said the Fed’s role in regulating bitcoin and its competitors is limited. However, […]
Next week, Dec. 10 will mark a key date for Microsoft and the Bitcoin community because the tech giant’s shareholders will vote on whether to add BTC to its balance sheet. The results will show whether shareholders are attracted by the current Bitcoin BTC$95,880 bull market or wish to stick to Microsoft’s pragmatic and profitable approach to […]
This summer witnessed a major new plot twist in the Bitcoin saga. Originally conceived of as a revolutionary grass-roots alternative to established fiat currencies, including the US dollar, the twist has Bitcoin serving not to counter but to fortify the US dollar’s status as the world’s most popular exchange medium. Although it has somewhat earlier roots, the new […]
Oil prices rose slightly on Wednesday, with traders expecting OPEC+ to announce an extension to supply cuts this week while heightened geopolitical tensions continue to dominate market sentiment. Brent crude futures rose 38 cents, or 0.5%, to $74.00 a barrel by 1428 GMT, while U.S. West Texas Intermediate crude futures were up 32 cents, also […]
