Tag Archives: Rise

When bitcoin and ethereum rallied to records in November on news of wider adoption, politicians and athletes scrambled to ride the momentum by announcing they’d collect parts of their salary in crypto. Among them were New York City Mayor Eric Adams, who vowed after his election that he’d accept his first three paychecks in bitcoin, and wide receiver Odell Beckham Jr., who opted to take his entire NFL salary in the token after signing a new contract with the Los Angeles Rams. But the… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, January 24, 2022 Memo to investors: Don’t buy flaming piles of garbage right now.  Those flaming piles of garbage could be the five software stocks (of companies losing money and valued at 85 times forward earnings) on your watchlist that have on average lost 25% in the past four weeks as a result of Federal Reserve rate hike fears (and… Source link

Weekly new jobless claims unexpectedly jumped last week by the most since October, with some renewed virus-related disruptions at least temporarily impeding the labor market’s recovery.   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. 15: 286,000 vs. 225,000 expected and a revised 231,000 during prior… Source link

With the Federal Reserve now widely expected to jack up interest rates in March to beat back rampant inflation, investors in the stock market should buckle up for a more muted few months of returns, says Goldman Sachs chief U.S. equity strategist David Kostin.  The S&P 500 has been “resilient” around the start of Fed hiking cycles in the past, Kostin notes. But one could interpret that resiliency Kostin speaks of in different ways.  The first is that the stock market didn’t fall off a cliff… Source link

COVID-related hospitalizations in the U.S. reached new highs over the past two weeks as the Omicron variant continues sweeping through the nation. Hospitalizations generally lag confirmed case counts by a couple of weeks. Hospitalization data from the Omicron wave may be inflated by so-called “incidental patients” — those who were hospitalized for something other than COVID-19 and tested positive while admitted — but that is largely irrelevant if hospitals are overwhelmed. “Remember that… Source link

Stocks rose Wednesday as investors eyed a new report on inflation, which showed another decades-high rate of price increases across the recovering economy. Still, this came a day following remarks from Federal Reserve Chair Jerome Powell reasserting that the central bank would step in as needed to rein in rising prices.   The Bureau of Labor Statistics’ December Consumer Price Index (CPI) showed prices rose at a 7.0% year-over-year rate at the end of 2021, marking the fastest increase since… Source link

The U.S. economy unexpectedly saw a slowdown in hiring in December compared to November, while the unemployment rate improved to a fresh pandemic-era low. The Labor Department released its December jobs report Friday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Non-farm payrolls: +199,000 vs. +450,000 expected and a revised +249,000 in November Unemployment rate: 3.9% vs. 4.1% expected and 4.2% in November  Average hourly… Source link

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

Ford (F) shares closed at their highest level in 21 years after the automaker announced it would nearly double production capacity to meet demand for its upcoming F-150 Lightning electric pickup truck.  Ford’s stock gained 12% and was the No. 1 trending ticker on Yahoo Finance during the trading session on Tuesday. The Dearborn, Michigan, based company has surpassed GM (GM) and Rivian (RIVN) in market capitalization as it pushes further into the EV space.  “It’s very exciting to announce… Source link

U.S. stocks opened near record highs on Monday, as investors built on momentum from last week into at least the first session of the new year. The S&P 500, Dow and Nasdaq each advanced.  U.S. equities posted another year of solid gains in 2021, rising by 27% and delivering a rare third consecutive double-digit annual percentage increase. Within the S&P 500, the energy and real estate sectors outperformed, gaining more than 42% each during the year for these sectors’ best annual gains on… Source link