US stocks were mixed on Thursday, struggling to shake off a dismal start to the year after Federal Reserve policymakers left hopes for an early interest-rate cut hanging. In afternoon trading, the Dow Jones Industrial Average (^DJI) popped about 0.3%, while the benchmark S&P 500 (^GSPC) was roughly flat. After a Wednesday selloff, the Nasdaq Composite (^IXIC) pushed for gains at points in the session, but held 0.3% below the flatline. Investors looking for confirmation of bets on a March rate… Source link
Read More »Bitcoin Price Slumps 5% as Recent Rally Begins to Cool
The run-up in bitcoin‘s price witnessed during the final days of July is facing pressure from sellers looking to cash in their profit amid tensions over a proposed U.S. infrastructure bill’s language. The pullback from Saturday’s top of around $42,400 to current prices of around $39,500 is likely associated with uncertainty surrounding the bill, according to Daniel Kim, head of capital markets at Australia-based decentralized lending company Maple Finance. An earlier version of the bill… Source link
Read More »Bitcoin slumps 14% as pullback from record gathers pace
(Reuters) -Bitcoin, the world’s biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, reversing most of the big gains it made over the past week. Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping $12,000 below record highs set on Wednesday. Smaller rival Ether, the coin linked to the ethereum blockchain network, dropped 10% to $2,101. Data website CoinMarketCap cited… Source link
Read More »U.S. Futures, Europe Stocks Decline as Tech Slumps: Markets Wrap
(Bloomberg) — U.S. equity futures slid with European stocks on Tuesday as the jump in bond yields and commodity prices continued to hammer technology shares. Nasdaq futures slumped 1.7% a day after the tech-heavy gauge posted its longest losing streak in four months. Tesla Inc. dropped 5% in pre-market trading as investors continued to punish stocks that have led the rally from the depths of the pandemic a year ago. In Europe, tech shares dragged the Stoxx 600 Index lower. Budding inflation… Source link
Read More »Tesla Slumps After First Results as a Blue Chip Disappoint
(Bloomberg) — Tesla Inc. reported lower-than-expected profit and record revenue, mixed results that disappointed investors used to razzle-dazzle from the newly minted member of the S&P 500 Index. The electric-vehicle market leader reported an adjusted fourth-quarter profit of 80 cents a share Wednesday, falling short of analysts’ consensus for $1.03 and well below the blowout result a year earlier — before the global pandemic set in. The results marked a sixth straight profitable quarter… Source link
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