Tag Archives: Slump

Bitcoin’s in a slump — here’s why Warren Buffett has hated it all along The past month and a half has been bumpy for Bitcoin. After a bully first quarter of 2021 that led to an all-time peak of $63,000 per unit in mid-April, the world’s leading digital currency has since lost more than 40% of its value, settling at just over $35,000 on Friday, May 28. Holdout investors who only a couple of months ago may have thought they’d missed an opportunity of a lifetime are now sighing with relief;… Source link

(Bloomberg) — Stocks and bonds sold off after Federal Reserve Chairman Jerome Powell underwhelmed markets by refraining from pushing back more forcefully against the recent spike in Treasury yields. The S&P 500 pared losses after briefly erasing its advance for 2021, but the gauge still headed toward its lowest close in about five weeks. Benchmark 10-year bond rates topped 1.5% as the dollar climbed. The tech-heavy Nasdaq 100 extended its decline from a February peak to almost 10%, and the… Source link

TipRanks Billionaire Ray Dalio Places Bet on 3 “Strong Buy” Stocks When billionaire financier Ray Dalio makes a move, Wall Street pays attention. Dalio, who got his start working on the floor of the New York Stock Exchange trading commodity futures, founded the world’s largest hedge fund, Bridgewater Associates, in 1975. With the firm managing about $140 billion in global investments and Dalio’s own net worth coming at $17 billion, he has earned legendary status on Wall Street. Summing… Source link

Pittsburgh locked up the AFC North title on Sunday, righting a three-game losing skid and anemic offense that ultimately sunk the Steelers’ hopes for the conference’s top playoff seed. After struggling again in the first half, the Steelers came back for a 28-24 win over the Indianapolis Colts at Heinz Field. A loss and a Cleveland Browns victory would have set up a winner-take-all showdown for the North in Week 17. The Steelers trailed 21-7, and the only score came off a defensive fumble… Source link

(Bloomberg) — Bitcoin and other digital coins steadied Friday after posting some of the biggest declines since the onset of the pandemic, a selloff that stoked fresh questions about this year’s boom in cryptocurrencies. Bitcoin climbed above $17,400, following a slide of as much as 14% to $16,227 on Thursday. Fears over tighter crypto regulations and profit-taking after a frenetic rally were among the reasons cited for the tumble. “After big rallies in shares and various other assets,… Source link

U.S. economic activity likely surged at a record clip for the July through September period, as an initial easing of virus-related lockdowns allowed business activity to return after a historic slump. The Bureau of Economic Analysis is set to release its advance print on third-quarter gross domestic product (GDP) at 8:30 a.m. ET on Thursday. Here are the main metrics expected from the report, compared to consensus estimates compiled by Bloomberg: 3Q GDP, annualized quarter-over-quarter: 32.0%… Source link

Ad sales simply have not been adding up, but recovery is on the way. This is the general consensus of Wall Street analysts who follow Google parent Alphabet Inc. GOOGL, -4.41% GOOG, -4.20% after it reported a second straight quarter of declining advertising revenue but offered encouraging signs of a rebound. Still, it wasn’t enough to stop a 5% drop in shares Friday that jeopardizes its $1 trillion market value. Despite the… Source link

Wednesday’s antitrust hearing before Congress made tech giants like Google-parent Alphabet, Inc. and Facebook seem like they’ve rigged the deck. But Thursday’s second quarter reports from both companies made the ad game look a little more fair. Google may be a search monopoly, but its exposure to hard-hit sectors like travel seems to be hurting it at the moment. The company reported the first on-year decline in advertising revenue in its history. Meanwhile Facebook said its own… Source link