On Monday, US stocks saw their three-day winning streak come to an end and crude prices recorded declines. This was after economic data from China, Europe, and the United States showed that demand had weakened significantly due to inflation pressures. Risk appetite remained low because of the looming possibility of the economy sliding into recession. […]
On Thursday, a day after Meta released its corporate earnings for the second quarter and ended up missing its bottom and top lines, the company’s shares saw a 5% drop in the market. Revenue decline There was almost a 1% drop in Meta’s revenue, as opposed to a year earlier, and the company’s share price […]
On Thursday, Pfizer Inc. reported its quarterly results but did not change the sales forecast for the year of its COVID-19 antiviral treatment and vaccine. This saw the company’s shares record losses of 5% before they managed to trim some of them. Pfizer report Even though the sales of Pfizer’s Paxlovid antiviral pills for the […]
On Thursday, US stock indexes rallied, while Treasury yields declined for the third consecutive day, as investors were weighing data showing a decline in the US economy for the second quarter in a row, a day after the US Federal Reserve hiked the interest rate. Dollar movements and data Along with Treasury yields declining, the […]
On Thursday, solar stocks rose after Senator Joe Manchin and Chuck Schumer, the Senate Majority Leader, announced that they had reached a deal on climate spending. The said deal is the most ambitious package on climate spending to be seen in the history of the United States. Big relief There is an amount of $369 […]
On Wednesday, European shares came close to seven-week highs, thanks to a series of strong earnings results from companies. This included Smurfit Kappa from Britain and Russian-exposed lending company UniCredit, which helped give some comfort in an uncertain and bleak environment. Shares rise The pan-European STOXX 600 index rose 0.5% for the day, with a […]
On Tuesday, Shopify announced that it was going to reduce its global workforce by 10%, which means it would lay off about 1,000 workers. The shares of the company plunged 14% after the announcement. Laying off workforce The chief executive of Shopify, Tobi Lutke, sent a memo to the staff in which he acknowledge that […]
On Tuesday, there was a gain of as much as 6.5% in the Hong-Kong listed shares of Alibaba, after the announcement of the Chinese tech giant about pursuing a dual primary listing. However, it ended up trimming some of the gains, as the stock had risen by 4.82% by the end of the trading session. […]
On Monday, London’s benchmark FTSE 100 index climbed, thanks to commodities and bank stocks in a trading session that was very choppy. This was after data showed that there was a slowdown in the industrial output in Britain, but there were tentative indications that price pressures were coming down from their peak. Index rises There […]
On Friday, a gauge of world stocks recorded declines to end the week lower, after having recorded gains for five sessions in a row. Meanwhile, the US dollar also declined against a basket of major currencies because the US business activity data turned out soft. Heavy declines Early trading had seen modest losses on Wall […]
Bitcoin surprised crypto funs the previous week as the bellwether crypto embarked on uptrends, surging 22%. That saw altcoins rising, and Ethereum led the bullish journey. The second-largest crypto revived from month-long lows to $1,630, following a remarkable 55% upswing. Like ETH, Cardano’s ADA rebounded from below its range lows. Nevertheless, ADA could not overcome […]
The US Securities and Exchange Commission (SEC) recently made claims that crypto exchange Coinbase is offering unregistered securities to its clients after it filed an insider trading case against one of the former employees of the company. The lawsuit On Thursday, the securities regulator filed a lawsuit against an ex-product manager of Coinbase Global, along […]
On Wednesday, US stocks finished the day higher, with a 1.6% gain recorded by the tech-heavy Nasdaq because of positive earning signs, with a close eye on interest rate hikes by the US Fed and inflation. Stocks rise There was a 7.4% gain recorded in Netflix stocks, after the prediction of the company about returning […]
One of the largest crypto exchanges in the market, Gemini has got a major achievement under its belt; it has become the first virtual asset service provider (VASP) in Ireland. Owned by twin brothers Tyler and Cameron Winklevoss, the exchange received the approval of the Central Bank of Ireland to provide its crypto trading services […]
Electric automaker Tesla Inc. disclosed that it sold off 75% of its bitcoin holdings for fiat currency. The total value of digital assets on the company’s balance sheet after the sale was around $218 million. Elon Musk, the chief executive of Tesla, stated that they did have plans of increasing their bitcoin holdings in the […]
Elizabeth Warren, the US Senator, said that there are a number of crypto companies out there that scam their clients. She said that these companies make off with the money from investors who are left holding the bag. Therefore, the senator said that there was an urgent need to develop stronger rules for the crypto […]
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On Monday, shares of British car insurers recorded declines, after Direct Line reduced its profitability outlook for this year. The company also pushed back the second part of its share buyback program, citing the increased volatility in the market and high inflation. Motor insurer problems Motor insurance companies were doing quite well at the beginning […]
Rising interest rates and soaring inflation has helped value stocks in outperforming most of the broader indexes this year. However, their outlook is turning bleak really quickly because of worries of a potential slowdown in the global economy. Shift in dynamic Stocks that trade at a discount on metrics like price-to-earnings and book value are […]
Spanish crypto exchange 2gether took its customers by surprise when it decided to block their access to its platform. Now, another crypto exchange in Spain has decided to step in to rescue the customers of the other platform. 2gether had demanded that its clients pay a fee of €20 to continue using its platform and […]
