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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHouse committee advances bill meant to stifle U.S. CBDCCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry.

Persons: CBDC, explainers Organizations: Email, CBDC CNBC

☆ Stocks making the biggest moves midday: Splunk, Cisco, Broadcom, Fox and more
▼ + stars: | 2023-09-21 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Cisco Systems , Splunk — Shares of Cisco fell 3.9% Thursday after the company said it is acquiring cybersecurity software company Splunk for $157 per share in a cash deal worth about $28 billion. KB Home posted its fiscal third-quarter report Wednesday evening, reporting earnings of $1.80 per share on revenue of $1.59 billion. Analysts polled by LSEG, formerly known as Refinitiv, called for earnings of $1.43 per share and revenue of $1.48 billion. Broadcom — Shares of Broadcom moved lower by almost 2.7%. Klaviyo — The marketing automation company stock closed Thursday roughly 2.9% higher.

Persons: Rupert Murdoch, Eli Lilly —, Klaviyo, Horton —, PulteGroup, Horton, Zillow, CNBC's David Faber, —, Alex Harring, Tanaya Macheel, Samantha Subin Organizations: Broadcom, Cisco Systems, Cisco, KB, LSEG, Fox Corporation, News, News Corp, Broadcom —, Google, CNBC, Klaviyo, New York Stock Exchange, Zillow, FedEx —, FedEx, Paramount, Netflix, Disney, Writers Guild of America, Wednesday Locations: San Jose , California

☆ Stocks making the biggest moves premarket: Pinterest, Instacart, Bausch Health and more
▼ + stars: | 2023-09-20 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Pinterest — Shares climbed more than 3% during premarket trading after management said at the company's first investor day that it expects year-over-year revenue growth to accelerate following a slowdown in 2022 and 2023. General Mills — The Cheerios and Yoplait maker rose 1% during premarket trading after reporting fiscal first-quarter results that were slightly above Wall Street expectations and reiterating its outlook for fiscal 2024. Instacart — Shares of the grocery delivery company were down nearly 4% one day after its stock market debut. Coty — The cosmetics maker gained nearly 6% during premarket trading after raising its full-year outlook for 2024, citing momentum in fragrances at its prestige brands, including Burberry, Calvin Klein and Gucci. Bausch Health — The pharmaceutical stock gained more than 5% before the market open after Jefferies upgraded it to buy and raised its price target to $16.

Persons: Davidson, Mills —, Instacart, Coty, Calvin Klein, Gucci, Bausch, Goldman Sachs, —, Yun Li, Tanaya Macheel, Pia Singh, Samantha Subin Organizations: Dollar, JPMorgan, Citi, D.A, Burberry, Bausch Health, Jefferies, Bloomberg

☆ Citi debuts deposit and trade services on blockchains for institutional clients
▼ + stars: | 2023-09-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Citi is upgrading some of its services for institutional clients using blockchain technology. The banking giant introduced Citi Token Services on Monday, which will tokenize clients' deposits so they can be sent anywhere in the world instantly. The bank is also now using smart contracts to automate the trade process. Citi tested the smart contract capability with shipping and logistics giant Maersk, a client of the bank. While crypto remains in regulatory limbo and prices have been almost stagnant this year, renewed excitement about tokenizing real-world assets using blockchain technology has emerged as one of the hottest topics of the year.

Persons: Ryan Rugg, Rugg, Bernstein, Hamilton Lane, Franklin Templeton, JPMorgan Chase Organizations: Citi, Citi Token Services, Citi's Treasury, Trade Solutions, Investment, KKR, Securitize, JPMorgan Locations: U.S, Singapore

☆ Bitcoin breaks above $27,000 for the first time in September
▼ + stars: | 2023-09-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Bitcoin is facing a number of headwinds including low liquidity which is contributing to volatility. Cryptocurrency prices rose broadly on Monday, with bitcoin climbing above $27,000 for the first time this month. Bitcoin was last higher by less than 1% at $26,685.97, according to Coin Metrics. The reason for the move wasn't clear, although there was a spike in trading volume during opening hours in the Asian market, said Dessislava Aubert, senior research analyst at crypto data provider Kaiko. "In the current low liquidity environment, relatively low buying and selling pressure could amplify spot price movements and spur liquidations on derivatives markets," she said.

Persons: Bitcoin, Dessislava Aubert Organizations: Metrics

☆ Citi debuts new token service in push to bring blockchains to institutions
▼ + stars: | 2023-09-18 | by ( Tanaya Macheel | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCiti debuts new token service in push to bring blockchains to institutionsRyan Rugg, Citi's global head of digital assets for treasury and trade solutions, discusses the bank's new token service, which is part of a wider push to offer crypto to institutional clients.

Persons: Ryan Rugg Organizations: Citi

☆ Geopolitics could drive oil prices over $100, Citi says
▼ + stars: | 2023-09-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Oil prices could rise to $100 a barrel in the short term thanks to the latest developments out of Saudi Arabia and Russia, according to Citi. That pushed U.S. crude oil prices top $90 a barrel for the first time since November 2022. "Geopolitics could push oil over $100 for a short while," Edward Morse, Citi's global head of commodities, said in a note Monday morning. "The Saudi appetite to withhold oil from market, supported by Russia maintaining a certain level of export constraint, points to higher prices in the short term." However, he also noted that higher near-term prices could mean more downside next year, and that the current $90 level prices look "unsustainable" with faster supply growth than demand.

Persons: Brent, Edward Morse, Morse, CNBC's Michael Bloom, Yun Li Organizations: Citi, West, Consumer Locations: Saudi Arabia, Russia, West Texas, Saudi, China

☆ Stocks making the biggest moves premarket: DoorDash, Arm, PayPal and more
▼ + stars: | 2023-09-18 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines in premarket trading. DoorDash — Shares added nearly 2% after being upgraded by Mizuho Securities to buy from neutral on Sunday. Micron Technology — The stock gained about 1.6% premarket after Deutsche Bank upgraded the memory and storage solutions company to buy from hold on Sunday, and also raised its target price. Arm Holdings — Shares of the semiconductor company fell 3.7% in premarket trading as the newly public Arm tries to find its level in the market. Bernstein initiated coverage on Monday with an underperform rating, saying it was too early to say Arm will be an AI winner.

Persons: MoffettNathanson, PayPal's, Alex Chriss, Bernstein, —, Macheel, Jesse Pound, Michelle Fox Theobald Organizations: PayPal, Mizuho Securities, Micron Technology, Deutsche Bank

☆ It’s been one year since the Ethereum merge. Here’s how the network is doing on its goals.
▼ + stars: | 2023-09-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Despite ether's recent price action, the network has been thriving since the "merge" – and could just be getting started. Still, market participants are seeing and feeling the success of the Ethereum merge. Here's how Ethereum is doing on some of its post-merge goals: Yields Ether's staking reward reference rate was 5.854% per annum on Sept. 15, 2022, according to Ethereum data provider Beaconchain. The percentage of ether supply being staked has risen from 11.99% on Sept. 15, 2022, to 20.46% on Aug. 30 of this year. Burning fees and decreasing supply Ethereum has a mechanism programmed in to regulate the network's notoriously high transaction fees, called gas fees, by "burning" them.

Persons: Ethereum, it's, Ethereum haven't, Matthew Sigel, Andrew Ballinger, hadn't, Maria Shen, Shen, It's Organizations: Metrics, First, ETH, Electric Locations: Bitcoin, FTX, First Republic, Shanghai, ETH, Solana, Cardano

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin heads for first back-to-back weekly gain since May: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World's Talia Kaplan talks to experts to find out what could spark bitcoin's next prolonged rally.

Persons: explainers, Crypto, Talia Kaplan Organizations: CNBC Crypto, CNBC

☆ Stocks making the biggest moves premarket: Arm Holdings, GM, Ford, Adobe and more
▼ + stars: | 2023-09-15 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

General Motors assembly workers picket outside the General Motors Bowling Green plant during the United Auto Workers national strike in Bowling Green, Kentucky, October 10, 2019. Apellis Pharmaceuticals — The biopharmaceutical company climbed 3.5% before the open after Wells Fargo upgraded to overweight from equal weight. General Motors , Ford , Stellantis — GM and Ford fell less than 1% and Stellantis rose less than 1% after the United Auto Workers went on strike Thursday night. DoorDash — Shares of the food delivery company slid almost 3% premarket after MoffettNathanson downgraded DoorDash to market perform from outperform. Adobe — Shares fell 3.4% on the back of the company's fiscal third-quarter earnings report Thursday.

Persons: —, Piper Sandler, Piper, Morgan Stanley, Wells, Apellis, Stellantis, MoffettNathanson, Needham, Goldman Sachs, — CNBC's Brian Evans, Michelle Fox, Alex Harring, Hakyung Kim, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Motors, General Motors, United Auto Workers national, Pharmaceuticals, Ford, United Auto Workers, Unity, Bank of America, Arm, Nasdaq, JPMorgan, LSEG Locations: Bowling Green , Kentucky, — The Cleveland, DoorDash, British

☆ Bitcoin’s long-term price momentum is breaking, Wolfe Research says
▼ + stars: | 2023-09-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin's price this week is near a familiar and key support level, but its latest stop there is a little more worrying than previous ones this year, according to Wolfe Research. "With support in this area on dual fronts, it makes sense that price would hold and consolidate in this region. "Longer term momentum is starting to break in bitcoin," he added. Short term price action is never our worry, it's when longer term trends start to break, that we want to take notice and pivot accordingly." "As the retail investor comes under pressure and liquidity is drained, our concerns will only grow for crypto prices," Ginsberg added.

Persons: bitcoin, Wolfe, Rob Ginsberg, Bitcoin's, Ginsberg, — CNBC's Michael Bloom, Nick Wells Organizations: Wolfe Research Locations: bitcoin

☆ Stocks making the biggest moves premarket: AMC, Etsy, First Solar and more
▼ + stars: | 2023-09-14 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

AMC Entertainment — Shares of the movie theater chain jumped 5% in premarket trading after AMC said it had completed the equity offering it announced earlier this month. The company said it sold 40 million shares at an average price of $8.14, raising about $325.5 million. In the second quarter, the company earned 11 cents a share, after adjustments, exceeding analysts' expectations of 2 cents per share, according to FactSet. Penn Entertainment — The sports betting stock climbed 3% in premarket trading following a short-term buy call from Deutsche Bank. The conglomerate sold about 5.5 million shares of HP, worth around $158 million.

Persons: Wolfe, Semtech, Warren Buffett's Berkshire Hathaway, Shawn Fain, Jim Farley, — CNBC's Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: AMC, Wolfe Research, Penn Entertainment, Deutsche Bank, BMO Capital Markets, Exxon Mobil, Chevron, Brent, Occidental Petroleum, HP —, HP, Berkshire, General Motors, Ford —, United Auto Workers, Ford Locations: China, Devon, Omaha

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMila Kunis-backed 'Stoner Cat' NFT animated series fined $1 million by SEC: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Rene Reinsberg of Celo breaks down the company's new wallet in partnership with Opera.

Persons: Mila Kunis, explainers, Rene Reinsberg Organizations: SEC, CNBC Crypto, CNBC, Opera

☆ Stocks making the biggest moves midday: Citigroup, Adobe, Corteva and more
▼ + stars: | 2023-09-13 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

David Wadhwani, senior vice president of digital media for Adobe, speaks during the launch of Adobe Creative Cloud and CS6 in San Francisco, April 23, 2012. Redwire — The space infrastructure stock soared 5.6% Wednesday after Roth MKM initiated research coverage of the company with a buy rating. The firm said Redwire, which went public via a special purpose acquisition company in 2021, has "several billions worth of pipeline revenue opportunity." Citigroup — Shares advanced nearly 1.7% after the bank's CEO Jane Fraser announced a corporate reorganization Wednesday amid a stock slump. Adobe — Stock in the software company added about 2.1% in midday trading ahead of quarterly results Thursday.

Persons: David Wadhwani, Roth MKM, Jane Fraser, Nio, General Motors, —, Alex Harring, Hakyung Kim, Brian Evans, Samantha Subin, Tanaya Macheel Organizations: Adobe, Adobe Creative, Moderna —, Centers for Disease Control, Pfizer, Moderna, U.S . Food, Drug Administration, Citigroup —, Citigroup, Airline, American Airlines, Spirit Airlines, European Commission, Adobe —, FactSet, Traders, Ford Motor, General, UBS, Ford, General Motors Locations: San Francisco, U.S, Nio —, China

☆ Bitcoin, helped by a possible short squeeze, rebounds from Monday's FTX-suspected slide
▼ + stars: | 2023-09-12 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The price of bitcoin bounced Tuesday, reversing losses from the previous day that were driven by fears around FTX liquidations. On Monday, bitcoin dipped below the key $25,000 support level for the first time since March. The rebound could be fueled in part by investors who were betting against the crypto asset scrambling to cover short positions, in other words, by a short squeeze. Fairlead Strategies' Katie Stockton said weakened momentum in the intermediate term could make it difficult for bitcoin to see a durable recovery. This week, investors get the August consumer price index and producer price index readings on Wednesday and Thursday, respectively.

Persons: bitcoin, FTX, Bitcoin, There's, Katie Stockton Organizations: Metrics, Alameda Research, Solana, Polygon, Federal Reserve Locations: FTX

☆ Bitcoin price and Coinbase volumes are showing a rare decoupling, Mizuho says
▼ + stars: | 2023-09-12 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

It's becoming clear that investor apathy in this year's crypto market is starting to hurt Coinbase , according to Mizuho analysts. The crypto exchange's trading volume historically has been influenced by moves in the price of bitcoin . Mizuho maintains its underperform rating and $27 price target on Coinbase shares. Bitcoin trading volume across spot crypto exchanges is about in line with levels from Aug. 30, according to CryptoQuant. The price of bitcoin has remained stagnant in recent weeks despite having several positive developments in the same period on the regulatory and ETF fronts.

Persons: Coinbase, Mizuho, Dan Dolev, bitcoin, Dolev, — CNBC's Michael Bloom Organizations: Mizuho, U.S . Securities, Exchange

☆ Bitcoin briefly dips under $25,000 ahead of fresh inflation data this week
▼ + stars: | 2023-09-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The cryptocurrency market fell to start the week as traders turned their focus to new inflation data and digested the latest in the SEC's legal battle with Ripple. Bitcoin fell more than 2.8% to trade at $25,004.45, according to Coin Metrics. Bitcoin briefly dipped below $25,000, the first time below that key support level since June. XRP dropped 5%, according to Coin Metrics, along with the Polygon token. Polkadot 's coin lost 4%, while Binance Coin , Solana's sol token and litecoin were down by about 3% each.

Persons: Bitcoin, Altcoins, XRP, Darius Tabatabai Organizations: Metrics, Securities and Exchange Commission, Vertex

☆ Stocks making the biggest moves midday: Tesla, Qualcomm, Meta, Moderna and more
▼ + stars: | 2023-09-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Tesla — Shares of the electric vehicle maker jumped 6% after Morgan Stanley upgraded the stock to overweight from equal weight. Kenvue — Shares of the Band-Aid maker gained 3% after being upgraded by Deutsche Bank to buy from hold on Sunday. The Wall Street firm called Kenvue a high-quality company and believes the stock's slide has created an attractive entry point. Nubank – The U.S.-traded shares of the Brazilian financial firm rose nearly 6% after JPMorgan upgraded Nubank to overweight from neutral. Discovery and Paramount also traded higher on the news, rising 2.2% and 1.9%, respectively,AstraZeneca — The pharmaceutical company's shares lost nearly 3% midday Monday.

Persons: Morgan Stanley, Adam Jones, — Smucker, Alibaba, Daniel Zhang, Zhang, Nubank, Warner, Pascal Soriot, Immatics, — CNBC's Alexander Harring, Samantha Subin, Yun Li, Jesse Pound, Michelle Fox, Tanaya Macheel Organizations: Artificial Intelligence, Hostess Brands, Tenable Holdings, JPMorgan, Deutsche Bank, Alibaba Group, Wall Street, Meta, Qualcomm, Apple, Media, Disney, Charter Communications, Warner Bros . Discovery, Paramount, AstraZeneca, Reuters, Mail, Moderna —, Moderna Locations: Shanghai, U.S, Brazil

☆ Stock futures are little changed ahead of key inflation data: Live updates
▼ + stars: | 2023-09-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, July 20, 2023. Stock futures were little changed Sunday night as investors awaited a batch of economic data in the week ahead and earnings from two major tech companies. Futures tied to the Dow Jones Industrial Average ticked lower by 2 points, or 0.01%. S&P 500 futures and Nasdaq 100 futures edged higher by 0.06% and 0.1%, respectively. Investors are looking forward to key inflation data in the week ahead after a string of stronger-than-expected economic data points last week renewed worries that the Federal Reserve could raise rates more than previously expected.

Persons: Yung, Yu Ma, Ma Organizations: New York Stock Exchange, Stock, Futures, Dow Jones, Nasdaq, Dow, Investors, Federal Reserve, Traders, CME Group's, BMO Wealth Management, CNBC, CPI, University of Michigan's Consumer, Oracle, Adobe, Apple Locations: New York City, China

☆ ‘Liquid staking’ is one pocket of crypto seeing big growth this year. Here’s what investors need to know
▼ + stars: | 2023-09-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Liquid staking protocols give investors access to liquidity while staking their funds. In April, the total value locked in liquid staking protocols began outpacing the total value locked in lending protocols and decentralized exchanges, according to DefiLlama. Here's what investors need to know about liquid staking compared to regular staking. It's less risky Like anything in crypto, liquid staking isn't without its risks – primarily technological and regulatory. "Staking as an activity has become too risky and it's a no-brainer for many people who are considering vanilla staking versus liquid staking," said Christine Kim, vice president of research at Galaxy.

Persons: It's, Conor Ryder, Ethereum, stakers, Riad Wahby, Wahby, Christine Kim, Ryder, USDT – Organizations: Silvergate Bank, Ethena Labs, Galaxy Locations: DeFi, Shanghai, Solana, Polkadot

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer FTX exec Ryan Salame to forfeit $1.5 billion after guilty plea: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bakkt CEO Gavin Michael discusses the company's international expansion, latest earnings and more.

Persons: Ryan Salame, explainers, Gavin Michael Organizations: CNBC Crypto, CNBC

☆ Stocks making the biggest moves premarket: Apple, WestRock, McDonald's and more
▼ + stars: | 2023-09-07 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Apple — Apple shares fell more than 2.6% after Bloomberg News reported China is planning to extend a ban on iPhone use to state-owned corporations. The company generated 60 cents per share profit on $542 million of revenue. The company called for an operating loss of $27 million to $40 million, while analysts polled by StreetAccount anticipated a loss of $20.5 million. Verint Systems — The analytics company lost 16.2% in premarket trading after Verint's second-quarter earnings and revenue fell short of expectations. Verint posted adjusted earnings of 48 cents per share, while analysts polled by FactSet forecast 57 cents per share.

Persons: Buster's, LSEG, Wells, ChargePoint, StreetAccount, Roku, Verint, Macheel, Jesse Pound Organizations: Apple, Bloomberg News, Street Journal, Bros, Dave, ChargePoint Holdings, LSEG, Europe's, Kappa, Systems, FactSet, Revenue Locations: China

☆ Stocks making the biggest moves midday: Roku, Tesla, AMC, AeroVironment and more
▼ + stars: | 2023-09-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Roku also boosted its third-quarter revenue guidance to between $835 million and $875 million, versus prior guidance of $815 million. AMC Entertainment — Shares tumbled 36.8% after AMC said it plans to sell up to 40 million new shares to raise cash. The issuance of additional shares was expected after it converted preferred APE shares into AMC common stock in August. Revenue also beat expectations, coming in at $152 million, versus the $129 million expected. Harley-Davidson — The motorcycle maker gained 3.16% after it authorized the repurchase of up to an additional 10 million shares.

Persons: Roku, Tesla, Elon Musk, Apple, AeroVironment, Thoma Bravo, Davidson, Zscaler, LSEG, Wall, Dexcom, —, Macheel, Alex Harring, Michael Bloom Organizations: Street, SpaceX, Twitter, AMC, Journal, Bank of America, LSEG, Revenue, Healthcare, Dominion Energy, Dominion, Southwest Airlines —, Southwest Airlines Locations: Virginia, China, Enbridge, Southwest

☆ Bitcoin and crypto are about to embark on a 'much stronger fundamental' rally, Bernstein predicts
▼ + stars: | 2023-09-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

"The existing crypto market remains a low liquidity market, with limited new capital entering the space. Investors remain optimistic about the recent developments and what they could mean for the crypto market over the long term, however. The agency for years has maintained that various attempts at a bitcoin ETF didn't satisfy concerns about fraud and manipulation in the market. The ruling shot that down, noting that "bitcoin futures prices are ultimately based on spot market prices." "The industry push for Ethereum spot ETF follows immediately after, given ETH also has a similar market structure of a traded CME futures market ( > 2 years) and a spot market," he added.

Persons: Bernstein, Gautam Chhugani, bitcoin, Chhugani, Michael Bloom Organizations: U.S . Securities, Exchange Commission, U.S ., Appeals, SEC, ETH, BTC Locations: U.S, Solana

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