Category Archives: Syndicated
Bitcoin rises to its highest level in a month, bouncing from January lows
(CNBC) The price of bitcoin climbed more than 6% on Monday, hitting its highest level in a month. Bitcoin rose to as much as $44,500, according to Coin Metrics, its highest level since Jan. 5. Back then, it hit a […]
Seven hikes? Fast-rising wages could cause the Fed to raise interest rates even higher this year
(CNBC) Too much of a good thing, in the form of rapidly rising wages, is expected to push Federal Reserve interest rate hikes at an even faster pace. Average hourly earnings jumped 0.7% in January and are now running at […]
Macro hedge funds emerge as the standout winners in January:
(Opalesque) In the week ending February 4th 2022, a report stated that finally, when the going got tough, macro managers showed up in January – emerging as the standout winners in a month beset by turbulence across both Treasury and […]
Frontier and Spirit to merge creating fifth-largest airline in U.S. in $6.6 billion deal
(CNBC) Frontier Airlines and Spirit Airlines, the two largest low-cost carriers in the U.S. have agreed to merge in a deal valued at $6.6 billion, creating what would become the fifth-largest airline in the country. The merger gives Denver-based Frontier […]
SoftBank-backed fintech DriveWealth is adding crypto to take on Coinbase’s ‘unsustainable’ fees
(CNBC) DriveWealth, the SoftBank-backed start-up that helps fintech firms including Revolut offer stocks, is getting into cryptocurrency trading, CNBC has learned. The New Jersey based start-up, valued at $2.85 billion in a recent fundraising, is acquiring a crypto firm founded […]
Fresh inflation data could fuel further market volatility in the week ahead
(CNBC) After January’s surprisingly strong jobs report, focus swings to consumer inflation in the week ahead and what it could mean for the Federal Reserve’s plan to raise interest rates. Friday’s report of 467,000 jobs added in January confounded Wall […]
Stock futures rise slightly after S&P 500 posts best week of the year
(CNBC) U.S. stock index futures turned slightly positive in early morning trading on Monday after the S&P posted its best week of 2022, boosted by quarterly earnings reports and a better-than-expected January employment report. Futures contracts tied to the Dow […]
Fed influence, shaky forecasts, delayed decisions: How the Biden administration misread the inflation threat
(CNBC) When President Joe Biden nominated former Fed Chair Janet Yellen to run the Treasury Department, his rationale was simple: “No one is better prepared to deal with this crisis.” The crisis to which he referred was a “K-shaped” economic […]
Mark Zuckerberg’s net worth just fell almost $30 billion in one day—the second-biggest drop ever
(CNBC) With a current net worth of $84.3 billion, it is the first time the 37-year-old hasn’t been one of the 10 richest people on earth since summer 2015. Zuckerberg’s $29.8 billion loss is the second-largest single-day loss in history, […]
Facebook’s $237.6 billion fall sets record for largest one-day drop in stock market history
(CNBC) Facebook parent Meta lost more than $237 billion in value Thursday. That’s the biggest one-day drop in value in the history of the U.S. stock market. Meta’s plunge, based on a weaker-than-expected revenue forecast, topped the prior record set […]
Amazon shares soar on cloud revenue beat and huge profit gain from Rivian stake
(CNBC) Amazon on Thursday said revenue climbed 9% in the fourth quarter and the company reported a gain of almost $12 billion from its investment in electric vehicle company Rivian. Amazon shares popped as much as 14% in extended trading. Should the […]
Snap shares rocket as much as 62% on first-ever quarterly net profit
(CNBC) Snap reported its first quarterly net profit on Thursday, and beat analyst estimates for the fourth quarter on earnings, revenue and user growth. The report comes a day after Facebook parent Meta delivered disappointing guidance for the first quarter […]