With every new year comes a clean slate. For Cathie Wood’s Ark Invest, that doesn’t seem to be the case. The firm’s beaten-down Ark Innovation Fund (ARKK) has hit a new low in 2022 — already. After shedding 7% in Wednesday’s sell-off, the fund is down 9% this week so far and 45% from its peak in February 2021, with the decline marking its worst drawdown since inception in 2014. A rout in growth-oriented stocks that has battered ARKK was made worse on Wednesday as investors mulled the… Source link

Crypto investors have cashed out over $135 billion dollars from the asset class so far in 2022, according to Coinmarketcap market cap data, and bitcoin (BTC-USD) is down around 7% year-to-date and hovering around $43,000 as of Thursday at 10 AM ET. “There are no signs of a decisive reversal in sight,” Mikkel Morch, executive director at digital assets hedge fund Ark36, told Yahoo Finance when asked about the largest cryptocurrency’s recent price action relative to its drawdown over the past… Source link

The titanic, albeit controversial legacy of late Apple (AAPL) co-founder Steve Jobs drew renewed interest this week when the tech giant became the first company to reach a market capitalization of $3 trillion. The feat owes in no small part to the development of the iPod and iPhone — both overseen by Jobs — which shaped the behavior of billions of people across the globe in how they listen to music and connect with loved ones. In a new interview, former Apple engineer Tony Fadell — who’s… Source link

Text size Google said it would change its practices following the French ruling. Ore Huiying/Bloomberg Google… Source link

Soaring retail and institutional interest in cryptocurrency last year also led to a boom in criminal activity that cost investors billions, underscoring the urgency of efforts to regulate the digital coin movement.  According to research firm Chainalysis, cryptocurrency addresses associated with illegal activity accumulated $14 billion. But when weighted against all cryptocurrency activity, the figure accounted for a relatively paltry 0.15% of total funds changing hands on any blockchain —… Source link

New unemployment claims rose but remained near a 52-year low last week, with the weekly pace of new claims holding below pre-pandemic levels as the labor market sees job openings near a record high.  The Labor Department released its latest weekly jobless claims report Thursday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Initial jobless claims, week ended Jan. 1: 207,000 vs. 195,000 expected and a revised 200,000 during… Source link

Adobe (ADBE) will be a major winner from the build out of the metaverse, says one widely followed Wall Street analyst. “Adobe is the best software play for the metaverse — its creative tools will enable the next generation of the internet,” said Jefferies tech analyst Brent Thill in a new research note Thursday.  Thill reiterated a Buy rating and $680 price target on Adobe. Shares of Adobe were relatively unchanged in pre-market trading Thursday. It closed down 7% at $514.43 on… Source link

Last year, Microsoft Bing and Yandex (the most popular search engine in Russia) announced IndexNow, a new way for websites owners to inform search engines about latest content changes on their website. Instead of waiting for search engines to discover the content changes, website owners can now do a simple ping so that search engines know that a URL and its content has been added, updated, or deleted. Recently, Microsoft released IndexNow Plugin for WordPress. This new plugin will enable… Source link

Factory Mutual Insurance Company, The Cincinnati Insurance Company, Starr Surplus Lines Insurance Company, Lexington Insurance Company, and Federal Insurance Company listed as defendants Teams suing include Montreal Canadiens, Ottawa Senators, Toronto Maple Leafs, Vancouver Canucks, and Winnipeg Jets The National Hockey League (NHL) and 20 of its teams are suing five of their insurance providers over… Source link

A few days after the Capitol insurrection last January, the FBI got two tips identifying an Ohio man named Walter Messer as a participant, and both cited his social media posts about being there. To verify those tips, the FBI turned to three companies that held a large amount of damning evidence against Messer, simply as a result of his normal use of their services: AT&T, Facebook, and Google. AT&T gave the FBI Messer’s telephone number and a list of cell sites he used, including one… Source link