Yahoo News

Stock futures opened higher Thursday evening as investors looked ahead to a key report on the U.S. labor market recovery at the end of a volatile week. Contracts on the S&P 500, Dow and Nasdaq gained as the overnight session began.   On Friday, investors are set to receive the Labor Department’s December jobs report, providing an update on the extent to which labor supply shortages were still impacting the economy at the end of last year. Economists expect to see more than 400,000 non-farm… Source link

GameStop’s (GME) stock surged as much as 30% in after hours after a report that the video game retailer is launching a marketplace for non-fungible tokens (NFTs), a move which had been telegraphed last year.  GameStop is also reportedly creating partnerships with two crypto companies to “share technology and co-invest in the development of games that use blockchain and NFT technology, as well as other NFT-related projects,” according to people familiar with the plans who spoke to the… Source link

It’s been a bad start of the year for Bitcoin (BTC-USD), and 2022 could bring in a bit more pain.   While some bulls continue to forecast $100,000, one strategist doesn’t see that happening this year – or next. “Long term, I love cryptocurrency, I love Bitcoin. But the charts — and I’m a technician — are just not showing that,” Gareth Soloway, president and CFO of InTheMoneyStocks.com told Yahoo Finance Live. “Bitcoin for me, has a nasty head-and-shoulders pattern on it. Believe or not,… Source link

Dive Brief: Yahoo is partnering with e-commerce platform MikMak to offer add-to-cart functionality and analytics for advertising campaigns on its properties, including Yahoo Finance, TechCrunch and AOL, according to an announcement. CPG advertisers can now offer consumers a multi-retailer checkout experience directly from their ads on Yahoo, allowing website users to buy from their preferred source. The deal also gives brands access to MikMak Insights to assess… Source link

With shares of newly minted IPO Allbirds (BIRD) down a whopping 50% from their highs on Nov. 3, Morgan Stanley says it’s time to go shopping for the stock.  “Valuation appears compelling, at ~4 times consensus 2023 estimated EV/Sales compared to its ~10 times post-IPO high and peers with comparable revenue growth at 5 times plus. Tempered valuation makes for an attractive entry point, particularly as an opportunity for BIRD [exists] to accelerate revenue growth to 28% in 2022 estimated from… Source link

With choppiness creeping back into the markets after a strong uptrend to round out 2021, there is one question you should probably ask your financial advisor before January ends.  “I think the biggest question we are getting is how are you handling the volatility we are currently seeing in the markets,” ShoreHaven Wealth Partners founding partner Michael Durso said on Yahoo Finance Live.  Judging by the market action to kick off 2022, most traders are being caught asleep at the wheel.  After… Source link

If the Federal Reserve is too heavy-handed with its interest rate hikes this year as a means to stomp out high rates of inflation, there is one critical risk that most investors probably aren’t factoring in.  Recession.  “That is the risk [of a recession in 2023],” said Mohamed El-Erian, Queens’ College, Cambridge University president and Allianz advisor, on Yahoo Finance Live. “We haven’t had a situation in the past in which the Fed has been really late [with rate hikes] and the Fed hasn’t… Source link

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