Markets

Bitcoin-holders MicroStrategy and Galaxy Digital soared last week after Tesla bought $1.5 billion. Will other companies now follow suit?

MicroStrategy, Galaxy Digital and other bitcoin holders soared on the markets last week. Tesla’s purchase of $US1.5 billion in bitcoin was the catalyst, bringing more attention to crypto. But bitcoin’s volatility and energy use are obstacles to widespread adoption by firms. Sign up here for our daily newsletter, 10 Things […]
Bitcoin-holders MicroStrategy and Galaxy Digital soared last week after Tesla bought $1.5 billion. Will other companies now follow suit?
Markets

Dow soars 476 points as investors cheer unwinding of day-trader choppiness

US stocks climbed for the second consecutive session as volatility surrounding recent Reddit-fuelled rallies died down. GameStop, AMC Entertainment, and other Reddit favourites tumbled as retail investors took profits. Alphabet and Amazon will preview Wednesday’s action when they reporting earnings after the close. Sign up here for our daily newsletter, […]
Dow soars 476 points as investors cheer unwinding of day-trader choppiness
Markets

Bitcoin sinks below $34,000 as sell-off cuts into early-January momentum

Bitcoin sank as low as $US33,412.72 on Wednesday as investors continued to take profits from the cryptocurrency’s massive rally. The token reached a record of nearly $US42,000 earlier this month before momentum stalled. Analysts see $US34,000 as a key support level for the token, while a move above $US40,000 could […]
Bitcoin sinks below $34,000 as sell-off cuts into early-January momentum
Markets

Janet Yellen suggests ‘curtailing’ cryptocurrencies such as Bitcoin, saying they are mainly used for illegal financing

Janet Yellen suggested lawmakers ‘curtail’ use of Bitcoin amid terrorism concerns. Yellen said cryptocurrency transactions mainly used for ‘illicit financing’. It is the latest sign lawmakers and regulators could get tough on Bitcoin and Ethereum. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Treasury […]
Janet Yellen suggests ‘curtailing’ cryptocurrencies such as Bitcoin, saying they are mainly used for illegal financing
Markets

US stocks slide as disappointing bank earnings prompt end-of-week sell-off

US stocks sank on Friday as investors digested disappointing bank earnings and a December slump in retail sales. Retail sales shrank 0.7% in December as COVID-19 lockdowns cut into holiday-season spending, according to Census Bureau data published Friday. Economists expected sales to hold flat from November. Less-than-stellar earnings reports from […]
US stocks slide as disappointing bank earnings prompt end-of-week sell-off
Markets

Bitcoin closes in on $40,000 as bulls flood in again and ECB boss Christine Lagarde labels cryptocurrencies a ‘funny business’

Bitcoin price rises 9% to cross $US38,000 mark, putting $US40,000 in sight ECB boss Christine Lagarde yesterday called for more regulation of the ‘funny business’ Morgan Stanley analysts say Bitcoin focus ‘unsurprising’ given low bond yields The Bitcoin price rose sharply once again on Wednesday evening and Thursday morning, climbing […]
Bitcoin closes in on $40,000 as bulls flood in again and ECB boss Christine Lagarde labels cryptocurrencies a ‘funny business’
Markets

US stocks climb as investors buy Monday’s dip on recovery hopes

US stocks gained slightly on Tuesday as investors bought Monday’s dip and bet on fresh stimulus and COVID-19 vaccines to fuel a near-term economic rebound. While the Biden administration is set to detail a sweeping fiscal stimulus plan on Thursday, investors continue to weigh whether stocks can remain at their […]
US stocks climb as investors buy Monday’s dip on recovery hopes
Markets

Cryptocurrency investors could ‘lose all their money’, UK regulator warns as Bitcoin price drops from all-time high

Consumers could ‘lose all their money’ if they invest in cryptocurrencies such as Bitcoin, the UK’s financial watchdog has warned. Bitcoin hit an all-time high of almost $US42,000 on Friday, but has since fallen sharply to around $US35,000. Regulators are increasingly concerned about cryptocurrencies such as Bitcoin and have increased […]
Cryptocurrency investors could ‘lose all their money’, UK regulator warns as Bitcoin price drops from all-time high
Markets

Dow, S&P 500 add to records as weak jobs report boosts stimulus expectations

US equities gained on Friday morning as the weak jobs report spurred investors hopes for a larger fiscal stimulus package to boost the economy. American businesses shed 140,000 nonfarm payrolls last month, the Bureau of Labour Statistics said Friday. The reading is weaker than consensus economist estimates that foresaw 50,000 […]
Dow, S&P 500 add to records as weak jobs report boosts stimulus expectations
Markets

US stocks close mixed as stimulus optimism clashes with new virus strain

US stocks closed mixed on Tuesday after Congress passed a multitrillion-dollar spending bill that includes $US900 billion in new stimulus. The package, which also funds the government through September 30, includes $US600 direct payments, $US300 in additional federal unemployment benefits, and aid for small businesses. The fresh fiscal support locked […]
US stocks close mixed as stimulus optimism clashes with new virus strain
Markets

Anthony Scaramucci’s SkyBridge hedge fund just invested $25 million in a bitcoin fund as it sees an ‘avalanche of institutional investors’ buying crypto in 2021

Anthony Scaramucci’s SkyBridge Capital just launched a bitcoin fund and invested $US25 million of capital. It will go live to outside investors in 2021. After bitcoin’s 200% rally this year, investors may be hesitant to buy bitcoin at current levels. But Scaramucci told CNBC the coin is in its “early […]
Anthony Scaramucci’s SkyBridge hedge fund just invested $25 million in a bitcoin fund as it sees an ‘avalanche of institutional investors’ buying crypto in 2021
Markets

Nasdaq closes at record high as investors digest Fed action and stimulus talks

US equities wavered on Wednesday as investors mulled the Federal Reserve’s policy update, disappointing economic data, and progress toward passing new stimulus. Congressional leaders are close to agreeing on a stimulus package that includes just under $US900 billion in relief funds, Politico reported. A deal could be finalised as early […]
Nasdaq closes at record high as investors digest Fed action and stimulus talks
Markets

US stocks edge lower as jarring drop in retail sales offsets stimulus progress

US equities dipped slightly on Wednesday as investors weighed progress towards a stimulus compromise against disappointing economic data. Congressional leaders are close to agreeing on a stimulus package that includes just under $US900 billion in relief funds, according to Politico. The deal could be finalised as early as Wednesday morning. […]
US stocks edge lower as jarring drop in retail sales offsets stimulus progress
Markets

US stocks dip as stimulus hopes waver and jobless claims hit 11-week high

US stocks edged lower on Thursday amid disappointing economic data and slowed stimulus progress. New US weekly jobless claims jumped to an unadjusted 853,000 for the week that ended Saturday, handily exceeding the 725,000 estimate. The reading also marks the highest total in 11 weeks. Democrats and Republicans remain at […]
US stocks dip as stimulus hopes waver and jobless claims hit 11-week high
Markets

Nasdaq closes at record high as Congress inches toward stimulus deal

US stocks closed mixed on Thursday amid falling jobless claims and new hopes for a stimulus deal. The Nasdaq composite closed at all-time highs, while the S&P 500 lost its record close in the final hour of trading. New weekly claims for unemployment insurance totaled an unadjusted 712,000 for the […]
Nasdaq closes at record high as Congress inches toward stimulus deal
Markets

US stocks edge towards new records after jobless claims fall more than expected

US stocks gained slightly on Thursday after falling jobless claims offered an encouraging sign of labour-market improvement. New weekly claims for unemployment insurance totaled an unadjusted 712,000 for the week that ended Saturday. Economists surveyed by Bloomberg expected a reading of 775,000. The mild uptick puts the S&P 500 at […]
US stocks edge towards new records after jobless claims fall more than expected
Markets

US stocks climb as investors weigh political clarity against virus risks

US stocks gained on Friday as hopes for a peaceful transition to the Biden administration offset concerns about rising COVID-19 cases. President Trump said Thursday that, should the Electoral College rule President-elect Joe Biden the winner of the 2020 election, he’ll hand over his power. The US reported 125,082 new […]
US stocks climb as investors weigh political clarity against virus risks
Markets

Dow closes above 30,000 for the first time ever on Biden-transition rally

US equities jumped on Tuesday after the General Services Administration’s ascertainment of President-elect Joe Biden’s victory lifted investor sentiments. The Dow Jones industrial average climbed above 30,000 for the first time, marking a rapid comeback after the index sank as low as 18,213 in March. The GSA announced Monday afternoon […]
Dow closes above 30,000 for the first time ever on Biden-transition rally
Markets

Dow climbs 310 points as investors cheer transition to Biden administration

US equities gained on Tuesday as the General Services Administration’s ascertainment of a Biden victory lifted investor sentiments. The GSA announced Monday afternoon it will provide President-elect Biden with the “resources and services” needed to start his transition to the White House. The move is the clearest sign yet that […]
Dow climbs 310 points as investors cheer transition to Biden administration
Markets

US stocks slide amid dispute over Fed funds and spiking COVID-19 cases

US stocks fell on Friday as conflict over the use of Federal Reserve funds offset positive developments for vaccine distribution. Treasury Secretary Steven Mnuchin urged the Fed on Thursday to return funds set aside for emergency lending, setting up several relief programs for year-end expiration. The move marked a rare […]
US stocks slide amid dispute over Fed funds and spiking COVID-19 cases
Markets

Dow tumbles 345 points as fresh lockdown measures overshadow vaccine progress

US stocks fell on Wednesday as new economic restrictions erased morning optimism around coronavirus vaccine news. New York City announced Wednesday afternoon that it will shut down public schools as virus infection rates spike. The vaccine candidate being developed by Pfizer and BioNTech was 95% effective at protecting against COVID-19 […]
Dow tumbles 345 points as fresh lockdown measures overshadow vaccine progress
Markets

US stocks resume climb as investors cheer COVID-19 vaccine progress

US stocks climbed on Wednesday after Pfizer and BioNTech revealed positive final-analysis data on their coronavirus vaccine. The companies’ candidate was 95% effective at protecting against COVID-19 in trial patients, Pfizer said Wednesday. The firms plan to apply for emergency-use authorization “within days.” The news lifted major indexes and spurred […]
US stocks resume climb as investors cheer COVID-19 vaccine progress
Markets

Billionaire Mike Novogratz says Bitcoin will hit $65,000 — and tells Game of Thrones star Maisie Williams to buy the world’s most popular cryptocurrency

Mike Novogratz said he expects the price of Bitcoin to hit $US65,000 and told Game of Thrones star Maisie Williams to buy the digital token. Williams conducted a Twitter poll on Monday about whether she should buy Bitcoin. It caught the attention of several prominent names including Novogratz, Elon Musk, […]
Billionaire Mike Novogratz says Bitcoin will hit $65,000 — and tells Game of Thrones star Maisie Williams to buy the world’s most popular cryptocurrency
Markets

Bitcoin surges past $15,000 to hit its highest level since January 2018

Bitcoin continued its post-election day surge on Thursday, punching past $US15,000. The digital token’s high of more than $US15,200 in Thursday afternoon trades represented its highest level since January 2018. In January 2018, bitcoin was in the early stages of unravelling much of its previous year’s gains as the cryptocurrency […]
Bitcoin surges past $15,000 to hit its highest level since January 2018
Markets

Dow jumps 422 points in rebound from worst week since March

US stocks rallied on Monday as encouraging economic data and election bets lifted indexes from their worst weekly slump since March. Market volatility picked up as Election Day neared. Former Vice President Joe Biden has enjoyed a lead in the polls, but President Donald Trump has indicated he will contest […]
Dow jumps 422 points in rebound from worst week since March
Markets

Dow rallies 310 points after notching biggest weekly slide since March

US stocks gained on Monday, as investors looked to rebound from the market’s worst week since March. Equities are set to face heightened volatility as election uncertainty reaches a fever pitch. While former Vice President Joe Biden enjoys a strong lead in the polls, President Donald Trump has indicated he […]
Dow rallies 310 points after notching biggest weekly slide since March
Markets

Dow climbs 139 points, Nasdaq soars as tech giants rally ahead of earnings

US equities climbed higher on Thursday as rallying tech stocks and encouraging economic data reversed some of Wednesday’s plunge. Apple,Amazon,Facebook, and Alphabet led gains ahead of the companies’ third-quarter reports. US GDP grew at a record 33.1% annualized rate in the third quarter, the Commerce Department said Thursday. The reading […]
Dow climbs 139 points, Nasdaq soars as tech giants rally ahead of earnings
Markets

US stocks close mixed as tech surge battles against industrial sell-off

US stocks closed mixed on Tuesday as investors weighed optimism in the tech sector against continued sell-offs in other corners of the market. Xilinx traded higher after Advanced Micro Devices announced it will buy the latter in a $US35 billion all-stock deal. The acquisition and anticipation for Microsoft’s afternoon earnings […]
US stocks close mixed as tech surge battles against industrial sell-off
Markets

Surging bitcoin nears its highest level in almost 3 years, and is set to test a key technical level that could spur a move toward $20,000

Bitcoin surged more than 3% on Tuesday as it approached a key resistance level at $US14,000. Recent positive developments for the digital cryptocurrency include PayPal allowing its account holders to buy, sell, and transfer bitcoin, as well as Square’s bitcoin purchase worth $US50 million. If bitcoin is able to decisively […]
Surging bitcoin nears its highest level in almost 3 years, and is set to test a key technical level that could spur a move toward $20,000
Markets

US stocks waver as investors mull dwindling chances for near-term stimulus

US stocks wavered on Friday as new commentary from the White House cut into hopes for pre-election stimulus. While House Speaker Nancy Pelosi indicated a bill could still be approved before Election Day, Treasury Secretary Steven Mnuchin noted that “significant differences” remain between each side’s respective proposals. The tepid session […]
US stocks waver as investors mull dwindling chances for near-term stimulus
Markets

US stocks climb as traders place bets on last-minute stimulus breakthrough

US stocks gained on Friday as Wall Street monitored Washington for updates to stimulus negotiations. House Speaker Nancy Pelosi previously said she hoped to reach an agreement before the weekend and added on Thursday that Democrats and the White House were “just about there” on a compromise. Still, Senate Republicans […]
US stocks climb as traders place bets on last-minute stimulus breakthrough
Markets

US stocks edge lower as investors mull odds of stimulus deal by end of week

US stocks declined slightly on Wednesday as investors weighed the latest developments in reaching a stimulus agreement. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to reach a deal before a Tuesday deadline and now aim to finalise a proposal before the weekend. Senate Democrats blocked Republicans’ $US500 […]
US stocks edge lower as investors mull odds of stimulus deal by end of week
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