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Since El Salvador voted to adopt bitcoin as legal tender, a slew of politicians have said they want to follow suit. "Other countries will follow El Salvador's lead for two main reasons, making bitcoin legal tender will attract Bitcoin entrepreneurs and ease the burden of sending money internationally." Indeed, since El Salvador's president Nayib Bukele first announced the bitcoin bill, a slew of other emerging markets politicians have said that their own countries should follow suit. In El Salvador, a whole town was already running on crypto - El Zonte, also known as 'Bitcoin Beach'. And the World Bank rejected El Salvador's request to help with the implementation of bitcoin over environmental concerns linked to crypto mining.
Persons: El Salvador, Cryptocurrencies, El, Edward Moya, Nayib Bukele, Carlitos Rejala, Gabriel Silva, Gilson Marques, Argentinian Francisco Sánchez, Andrew Bailey, Bitcoin, OANDA's Moya Organizations: El, Salvador's, OANDA, btc, paypal, Argentinian, Federal Reserve, European Central Bank, of America, Dallas Mavericks, Oakland A's, Bank of England, World Bank Locations: Brazil, Argentina, Tonga, El Salvador, American, Paraguayan, Paraguay, Panama
Crude oil prices retreat, but stay near multi-year highs
  + stars: | 2021-06-17 | by ( Shadia Nasralla | ) www.reuters.com + 0.00   time to read: +2 min
Summary U.S. dollar posts strongest single day gain in 15 monthsCrude stocks fell by 7.4 million barrels in previous week -EIAChina's refinery output hits record as margins improveSINGAPORE, June 17 (Reuters) - Crude oil prices dipped on Thursday as a stronger U.S. dollar brought them off multi-year highs, but losses were limited by a big drop in U.S. crude oil inventories. Brent crude oil futures dropped 33 cents, or 0.4%, to $74.06 a barrel by 0836 GMT. U.S. crude oil futures inched down 28 cents, or 0.3%, to $71.87 a barrel, after reaching their highest since October 2018 the previous day. 1/3 An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. "This pullback in oil prices should be temporary as the fundamentals on both the supply and demand side should easily be able to compensate for a rebounding dollar," Moya said.
Persons: Richard Carson, Edward Moya, Moya, Jessica Jaganathan, Ana Nicolaci da Organizations: Brent, U.S, Federal Reserve, Department of Energy, Strategic Petroleum Reserve, REUTERS, Energy, Administration, Thomson Locations: SINGAPORE, Freeport , Texas, U.S, Iran, China, Ana Nicolaci da Costa
Oil demand worries resurfaced after new coronavirus cases jumped in Britain, while supply concerns over the return of Iranian barrels also weighed on the market. Traders, however, said Friday'spresidential elections in Iran could scuttle nuclear talks between Washington and Tehran and leave U.S. sanction on Iran's oil exports in place. read moreA firmer greenback makes oil more expensive in other currencies, which could dent demand. read more1/3 An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. read moreAnalysts have said Iran could boost oil supplies by 1 million to 2 million barrels per day (bpd) if sanctions are lifted.
Persons: Raisi, Brent, Thursday's, Richard Carson, Edward Moya, Ebrahim Raisi, Hassan Rouhani, Bob Yawger, Jessica Jaganathan, Ana Nicolaci da Organizations: U.S, U.S . Federal Reserve, Traders, West Texas, Department of Energy, Strategic Petroleum Reserve, REUTERS, Mizuho, New York ., Thomson Locations: Iran, SINGAPORE, Britain, Washington, Tehran, Freeport , Texas, U.S, Europe, New York, New York . Washington, United States, Ana Nicolaci da Costa
Crude oil prices drop, pressured by stronger U.S. dollar
  + stars: | 2021-06-17 | by ( ) www.cnbc.com sentiment -1.00   time to read: +2 min
Crude oil prices fell on Thursday pressured by a stronger U.S. dollar, but losses were limited by a big drop in crude oil inventories in the United States, the world's top oil consumer. Brent crude oil futures dropped by 74 cents, or 1%, to $73.65 a barrel by 0103 GMT after reaching its highest since April 2019 in the previous session. U.S. crude oil futures fell by 69 cents, or 1%, to $71.46 a barrel, after reaching its highest since October 2018 the previous day. Still, oil price losses were limited as data from the Energy Information Administration showed that U.S. crude oil stockpiles dropped sharply last week as refineries boosted operations to their highest since January 2020, signaling continued improvement in demand. "This pullback in oil prices should be temporary as the fundamentals on both the supply and demand side should easily be able to compensate for a rebounding dollar," Moya said.
Persons: Edward Moya, Moya Organizations: Brent, Energy, U.S, Federal Reserve, Administration Locations: Sokolovka, Udmurt Republic, Russia, United States, Iran, China
Fed update weighs down Wall Street, adds fuel to the dollar
  + stars: | 2021-06-16 | by ( Pete Schroeder | ) www.reuters.com + 0.00   time to read: +3 min
The Dow Jones Industrial Average fell 533.37 points, or 1.58%, marking the worst week for the blue-chip index since January. The S&P 500 lost 55.41 points, or 1.31%, and the Nasdaq Composite dropped 130.97 points, or 0.92%. The MSCI world equity index, which tracks shares in 45 nations, fell 8.87 points or 1.24%. The Fed stance provided fuel to the U.S. dollar, as the dollar index, which tracks the greenback against six major currencies, jumped 0.43% on Friday to 92.314, its highest price since mid-April. Spot gold was down 0.61% to $1,762.63 per ounce, with prices down roughly 5.7% on the week.
Persons: Louis, James Bullard, Neel Kashkari, “ I’m, I’m, , Tim Ghriskey, Edward Moya, ” Long Organizations: WASHINGTON, U.S . Federal Reserve, Dow Jones, Nasdaq, Louis Fed, Minneapolis Federal, Fed, Inverness, U.S ., Brent, . West Texas, OANDA, Treasury Locations: U.S, New York
PRECIOUS-Gold treads water ahead of Fed policy statement
  + stars: | 2021-06-16 | by ( Nakul Iyer | ) www.reuters.com sentiment -1.00   time to read: +2 min
U.S. gold futures rose 0.2% to $1,859.20. “The markets are realizing that the economic recovery is pretty robust and what we’re probably going to see is this (Fed)tapering discussion is going to start now,” said Edward Moya, senior market analyst at OANDA. Concerns about rising prices have risen in the face of U.S. data showing a recent spike in consumer and producer prices. Gold was also pressured by a steady dollar, which dimmed the precious metal’s appeal to other currency holders. Elsewhere, silver rose 0.5% to $27.78 per ounce, while palladium gained 1.3% to $2,797.84 and platinum was down 0.7% at $1,144.99.
Persons: we’re, , Edward Moya, Moya, Rhona O’Connell, Nakul Iyer, Paul Simao Organizations: Federal Locations: U.S, ., pare, Bengaluru
Defensive, industrial stocks boost FTSE 100 as economy runs hot
  + stars: | 2021-06-16 | by ( Amal S | ) www.reuters.com + 0.00   time to read: +2 min
A sign displays the crest and name of the London Stock Exchange in London, Britain August 15, 2017. After touching its highest level since February 2020 at 7,217.5, the blue-chip index (.FTSE) end 0.2% higher at 7,184.95. Industrials (.FTNMX502050), travel (.FTNMX303010) and pharmaceuticals (.FTNMX201030) provided the biggest boost to the index. The domestically focused mid-cap FTSE 250 index (.FTMC) fell 0.1%. The FTSE 100 and the FTSE 250 have oscillated in a narrow range since mid-April on worries that a COVID-19 resurgence might crimp the recovery, while rapid economic growth could lead to higher inflation and prompt central banks to pare their support.
Persons: Neil Hall, BoE, Edward Moya, Moya, Devik Jain, Subhranshu Sahu Organizations: London Stock Exchange, REUTERS, Bank of England's, Oanda, Global, U.S, Energy, BP, Royal, Shell, Thomson Locations: London, Britain, U.S . Federal, pare, Bengaluru
Oil bulls take charge as demand outlook improves, Brent up a fifth day
  + stars: | 2021-06-16 | by ( ) www.cnbc.com sentiment -0.97   time to read: +1 min
Oil prices rose on Wednesday, with Brent gaining for a fifth consecutive session, as falling stockpiles and a recovery in demand encouraged investors. Brent crude was up 69 cents, or 0.9%, at $74.68 a barrel by 0200 GMT, having risen 1.6% on Tuesday. "Even non-energy traders are placing bets that oil prices will continue to rise," said Edward Moya, senior market analyst at OANDA. "Everyone is turning overly bullish with crude prices. The crude demand outlook is very robust as recoveries across the US, Europe and Asia, will have demand return to pre-COVID levels in the second half of next year," Moya said.
Persons: Brent, Edward Moya, Moya, Russell Hardy Organizations: American Petroleum Institute, Reuters, Vitol, of, Petroleum Locations: Loco Hills, Eddy County , New Mexico, ., Europe, Asia, U.S, United, Tehran
Brent gains a fifth day as demand outlook improves, stocks fall
  + stars: | 2021-06-16 | by ( Aaron Sheldrick | ) www.reuters.com sentiment -0.97   time to read: +2 min
TOKYO, June 16 (Reuters) - Oil prices rose nearly 1% on Wednesday, with Brent gaining for a fifth consecutive session, as falling stockpiles and a recovery in demand kept the main benchmarks at multi-year highs. Brent crude was up 66 cents, or 0.9%, at $74.65 a barrel by 0445 GMT, the highest since April 2019. "Even non-energy traders are placing bets that oil prices will continue to rise," said Edward Moya, senior market analyst at OANDA. "Everyone is turning overly bullish with crude prices. The crude demand outlook is very robust as recoveries across the US, Europe and Asia, will have demand return to pre-COVID levels in the second half of next year," Moya said.
Persons: Brent, Edward Moya, Moya, Russell Hardy, Aaron Sheldrick Organizations: American Petroleum Institute, Reuters, of, Petroleum, RBC Capital Markets, Thomson Locations: TOKYO, Europe, Asia, U.S, United, Tehran
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) All eyes are now on the central bank’s statement at the end of its two-day policy meeting on Wednesday. A separate report showed U.S. retail sales dropped more than expected in May. However, the S&P 500 has been broadly stuck within a range, despite recording its 29th record-high finish of 2021 on Monday, versus 33 for all of last year. The S&P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 87 new highs and 21 new lows.
Persons: spooked, , Ed Moya, , they’re, Dow Jones, David French, Shashank Nayar, Medha Singh, Maju Samuel, Dan Grebler Organizations: Boeing, Dow, Nasdaq, Treasury, Americas, Dow Jones, Exxon Mobil Corp, Mar, European Union, Airbus, Lordstown Motors Corp Locations: wean, OANDA, United States, New York, Bengaluru
CANADA FX DEBT-Canadian dollar hits 7-week low, pressured by Fed uncertainty
  + stars: | 2021-06-15 | by ( Fergal Smith | ) www.reuters.com sentiment -1.00   time to read: +2 min
The loonie was trading 0.4% lower at 1.2192 to the greenback, or 82.02 U.S. cents, after earlier touching its weakest level since May 6 at 1.2204. Earlier this month, it touched its strongest in six years at 1.2007. Canadian housing data for May was mixed. Canadian consumer price data is due on Wednesday, which could offer clues on the Bank of Canada policy outlook. On Monday, it touched its lowest intraday level in more than three months at 1.365%.
Persons: Fergal Smith TORONTO, We've, Edward Moya, Moya, Fergal Smith, Jonathan Oatis, Peter Cooney Organizations: Canadian, U.S, Federal Reserve, Oil, Housing, Bank of Canada Locations: New York, pare, Canada
Wall Street ends down as jittery investors await Fed report
  + stars: | 2021-06-15 | by ( David French | ) www.reuters.com + 0.00   time to read: +3 min
Assurance from the Fed that rising prices are transitory and falling U.S. Treasury yields have helped ease some concerns over inflation and supported U.S. stocks in recent weeks. All eyes are now on the central bank's statement at the end of its two-day policy meeting on Wednesday. A separate report showed U.S. retail sales dropped more than expected in May. "We're seeing some very modest weakness, and it'll be choppy leading up to the Fed decision. read moreThe New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021.
Persons: Ed Moya, they're, Carlo Allegri, Dow Jones, David French, Shashank Nayar, Medha Singh, Maju Samuel, Dan Grebler Organizations: Fed, Boeing, Treasury, Americas, New York Stock, REUTERS, Dow Jones, Nasdaq, Boeing Co, European Union, Airbus, Lordstown Motors Corp, Thomson Locations: wean, OANDA, Manhattan, New York City , New York, U.S, United States, New York, Bengaluru
Oil hits new high near $75 on demand rise, falling inventories
  + stars: | 2021-06-14 | by ( Alex Lawler | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. “Demand growth is outpacing supply and will continue to do so over the coming months,” said Stephen Brennock of oil broker PVM. “Even non-energy traders are placing bets that oil prices will continue to rise,” said Edward Moya, senior market analyst at brokerage OANDA. Executives from major oil traders said on Tuesday they expected prices to remain above $70 and demand to return to pre-pandemic levels in the second half of 2022. At the same time, the prospect of an imminent rise in Iranian oil exports looks less likely, analysts said.
Persons: Nick Oxford, Brent, , Stephen Brennock, Edward Moya, PVM’s Brennock Organizations: REUTERS, American Petroleum Institute, Energy, Administration, Organization of, Petroleum Locations: Cushing , Oklahoma, OPEC, Tehran, Washington, Vienna
PRECIOUS-Gold shakes off losses to edge up after U.S. CPI data
  + stars: | 2021-06-10 | by ( Nakul Iyer | ) www.reuters.com sentiment -1.00   time to read: +2 min
* ECB keeps monetary policy unchanged* U.S. CPI rises 0.6% in May* ‘Transitory’ inflation may dim gold’s demand, analyst says (Recasts, adds comments, updates prices)June 10 (Reuters) - Gold prices reversed early losses to edge up on Thursday after data showed U.S. consumer prices increased more than expected last month. Spot gold was up 0.2% to $1,891.21 per ounce by 9:55 a.m. EDT (1355 GMT), having earlier hit its lowest level since June 4 at $1,875.89. U.S. gold futures dropped 0.1% to $1,893.30 per ounce. Data showed U.S. consumer prices increased further in May as the coronavirus pandemic’s easing grip on the economy continued to boost domestic demand. Silver rose 0.4% to $27.87 per ounce, palladium dropped 0.6% to $2,763.02, while platinum was down 0.8% at $1,141.19.
Persons: , Edward Moya, Moya, Carsten Menke, Julius Baer, Nakul Iyer, Eileen Soreng, Paul Simao Organizations: U.S, U.S . Federal, OANDA, Investors, European Central Bank Locations: U.S, Bengaluru
PRECIOUS-Gold edges higher after U.S. inflation data
  + stars: | 2021-06-10 | by ( Nakul Iyer | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold rose 0.3% to $1,893.75 per ounce by 1:43 p.m EDT (1743 GMT), having earlier hit its lowest level since June 4 at $1,869.46. Data showed U.S. consumer prices increased further in May as continued economic recovery from the pandemic boosted domestic demand. Some pricing pressures remain for gold, but ultimately the belief that “runaway” inflation, which could trigger a Fed policy tightening, is unlikely should keep gold supported, Moya said. Investors also took stock of the European Central Bank pledge to maintain a steady flow of stimulus over the summer, at its policy meeting. “We expect gold prices to move higher in coming weeks, and inflation expectations will remain a focal point,” said Suki Cooper, an analyst at Standard Chartered, adding that recent growth in investor appetite has more than offset weak physical gold demand, particularly from India and China.
Persons: , Edward Moya, Moya, , Suki Cooper, Jeffrey Christian, Nakul Iyer, Marguerita Choy, Steve Orlofsky Organizations: U.S, U.S . Federal, OANDA, Investors, European Central Bank, Standard Chartered, CPM Locations: India, China, Bengaluru
GameStop tumbles, Clover Health rises in 'meme stock' roller coaster
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 7% and Clover Health Investments Corp (CLOV.O) jumped 6.4% in early deals on Thursday, setting the stage for another roller coaster session for stocks favored by small-time investors on social media platforms. Shares of cinema operator AMC Entertainment Holdings Inc (AMC.N) were down 4.1%, while prison operator Geo Group Inc (GEO.N), the latest "meme stock", slumped 8.8%, after surging more than 38% on Wednesday. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Clover Health Investments Corp, Wednesday, ContextLogic Inc, Clean Energy Fuels Corp, AMC Entertainment Holdings Inc, Geo Group Inc, Medicare, AMC, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
GameStop tumbles, other "meme stocks" falter after big runups
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell more than 17% on Thursday and other so-called meme stocks also declined, setting the stage for another roller-coaster session for stocks favored by retail investors on social media platforms. AMC shares were off around 11%. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Wedbush Securities, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Medicare, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
Stock futures are flat as S&P 500 remains range-bound near record
  + stars: | 2021-06-08 | by ( Yun Li | ) www.cnbc.com sentiment -1.00   time to read: +2 min
Stock futures were flat in overnight trading on Tuesday after Wall Street appeared range-bound near its record levels. S&P 500 futures and Nasdaq 100 futures also held steady. The broad equity benchmark is now just 0.3% below its record high of 4,238.04 reached on May 7. "The current short squeeze is more localized probably because the number of stocks with high short interest has come down dramatically." On the data front, job openings in April soared to a new record high, with 9.3 million vacancies coming online amid the economic recovery.
Persons: Edward Moya, Dow Jones, Maneesh Deshpande Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow, Clover Health, GameStop, Barclays
The 10-year U.S. Treasury note rose 0.1 basis points to yield 1.5704%, at the bottom of a two-month range. Germany’s 10-year Bund yield was last up 0.2 basis points at -0.195, near one-month lows hit after Friday’s U.S. unemployment report. MSCI’s all-country world equity index rose 0.09% to 716.94. The benchmark for global equity markets is heavily weighted to the U.S. tech behemoths, half of which rose and the others fell. The European automobiles and parts index rose 0.9% to reach its highest since March 2015, extending a 5.3% rally from last week.
Persons: Brent, Christopher Smart, Smart, Joe Biden, Ed Moya, “ We’re, ” Moya, , MSCI’s Organizations: Organization of, Petroleum, U.S . Treasury, European Central Bank, Treasury, European, Microsoft Corp, Facebook, Apple Inc, Dow Jones, Nasdaq, London Metal Exchange, ECB, West Texas Intermediate, Brent, Nikkei, Electronics Locations: United States, European Union, New York, Europe, China, U.S, Asia, Pacific, Japan, Taiwan
MSCI'S ACWI ends at record, oil hits 2-year high
  + stars: | 2021-06-07 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +5 min
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 3, 2021. MSCI's all-country world equity index (.MIWD00000PUS) gained 0.1%, marking its sixth record close in seven days, as stocks advanced on expectations of an economic rebound from the coronavirus pandemic. The 10-year U.S. Treasury note rose 0.1 basis point to yield 1.5704%, at the bottom of a two-month range. MSCI's ACWI index, a global benchmark for equity performance in 50 countries, closed at 717.00. The European automobiles and parts index (.SXAP) rose 0.9% to its highest level since March 2015, extending a 5.3% rally from last week.
Persons: Christopher Smart, Smart, Joe Biden, Ed Moya, Moya, MSCI's, Brent, Yuan Electronics Organizations: REUTERS, Staff, Organization of, Petroleum, U.S . Treasury, European Central Bank, Treasury, European, Microsoft Corp, Facebook Inc, Apple Inc, Amazon.com Inc, Dow Jones, Nasdaq, London Metal Exchange, ECB, West Texas Intermediate, Brent, Japan's Nikkei, Yuan, Thomson Locations: Frankfurt, Germany, United States, European Union, New York, Europe, China, U.S, Asia, Pacific, Japan, Taiwan
In Paris, Rafael Nadal Is the Same as Always, and Yet He’s Different
  + stars: | 2021-06-07 | by ( Matthew Futterman | ) www.nytimes.com sentiment -0.94   time to read: +1 min
By now, several years into this latter era of Nadal dominance on clay, opponents have become accustomed to what to expect, but they still come away staggered from the experience. “It’s amazing how quick he was after his serve to find his forehand,” Norrie said after his loss. Norrie felt like he was playing pretty well against Nadal, but as he spoke his eyes appeared glazed, as though he had just seen something he could not quite believe. “The guy is relentless.”Between points, Nadal is as deliberate as ever. Shifts in tennis strategy can appear subtle on the surface, but they can have outsized effects on the way points, games and matches unfold.
Persons: ” Norrie, Norrie, Nadal, sweats, Carlos Moya Organizations: Nadal Locations: Spanish
An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. Nonfarm payrolls increased by 559,000 jobs last month, helped by higher COVID-19 vaccination rates, while the unemployment rate fell to 5.8% from 6.1% in April, when the jobs report came in well below expectations. At 9:20 ET, the dollar index was down 0.403% at 90.114, dropping from a three-week high earlier in the session . read moreInvestors were heavily short dollars headed into the jobs report, positioning data showed, pointing to a market hypersensitive to any suggestion of a change in direction for the currency or a shift in the rates outlook. Overnight implied dollar/yen volatility shot up to a month high above 8% on Thursday and euro/dollar implied volatility hit its highest since mid-March .
Persons: Mohamed Abd El Ghany, Nonfarm, Edward Moya, Moya, Joe Biden, Trump, Elon Musk, bitcoin Organizations: REUTERS, Reserve, Fed, New Zealand, bitcoin, Thomson Locations: Cairo, Egypt, bitcoin
Oil hits two-year high on OPEC+ discipline, demand hopes
  + stars: | 2021-06-04 | by ( Devika Krishna Kumar | ) www.reuters.com + 0.00   time to read: +3 min
Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. The U.S. dollar weakened after the report, making oil cheaper for holders of other currencies and lending support to oil prices. read moreBrent crude rose 58 cents, or 0.8%, to settle at $71.89 a barrel, after touching $72.17, its highest since May 2019. U.S. West Texas Intermediate crude rose 81 cents, or 1.2%, to settle at $69.62. "Summer and the reopening of the global economy is bullish for oil demand in the second half of the year."
Persons: Nick Oxford, nonfarm, Brent, Baker Hughes, Stephen Brennock, Edward Moya, OANDA, Louise Dickson Organizations: REUTERS, Brent, of, Petroleum, U.S, . West Texas, Energy, Thomson Locations: Cushing , Oklahoma, United States, Iran, Tehran, Brazil, India
Dogecoin jumps on news of launch on Coinbase Pro
  + stars: | 2021-06-02 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: Cryptocurrency representations are seen in front of the Dogecoin logo in this illustration picture taken April 20, 2021. REUTERS/Dado Ruvic/IllustrationNEW YORK (Reuters) - Dogecoin, a meme-based cryptocurrency popular among retail investors, surged on Wednesday, benefiting from news that digital asset exchange Coinbase will make the crypto unit available to its users on its trading platform. Coinbase said on Tuesday it will immediately accept inbound transfers of dogecoin Coinbase Pro, a trading venue for professional traders. Dogecoin rose 31% on Wednesday to $0.41 in the wake of the Coinbase news. A boom in usage of online trading apps like Robinhood also fueled the social-media driven rally in GameStop Corp stock this year, which pitted retail investors against hedge funds.
Persons: Dado Ruvic, Coinbase, Edward Moya, dogecoin, Elon Musk’s, Dogecoin Organizations: REUTERS, GameStop Corp Locations: New York, U.S
AMC shares zoomed up 200% during the week but failed the reach social media calls for a $500,000 price tag. Virgin Galactic bounced higher after the company's successful space flight. Retail investors on Reddit at the start of the year staged a virtual fight against institutional investors that bet GameStop's price would go down. AMC shares eventually backed off that threshold but still more than doubled from about $12 from the start of the week. Markets Insider4) Virgin Galactic rockets upShares of the commercial space flight company touched $35.04 on Friday, briefly bringing its weekly rise to 66%.
Persons: New York Lucas Jackson, Edward Moya, Vanda, Moya Organizations: GameStop, Reuters AMC, Virgin Galactic, AMC, Reddit, Vanda Research, Virgin Locations: New York
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