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☆ I quit corporate and turned my side hustle into a 6-figure dream career — here's how
▼ + stars: | 2024-08-05 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +6 min

When I took my side hustle full-time, I started making around $125,000 more than my last salary. AdvertisementI started music as a side hustle in March 2019I've played the piano for 21 years and the alto saxophone for 18. I was fortunate to still have a paycheck and work from home when most full-time event industry professionals were shut down completely. AdvertisementA surge of events started in 2021, and I knew I made the right decision to leave the 9-5 world the previous October. If I had let a few hundred dollars a month of health insurance hold me back from quitting my full-time job, I would never have had all these incredible experiences.

Persons: —, Jason Nelson, It's, I've, Nelson, Teresa Guidice, Luis Ruelas, Teresa Giudice, it's Organizations: Service, Business, DJ, Fox, New York Jets, Real Housewives of, Bravo Locations: Hoboken , New Jersey, Puerto Rico, St, Maarten, Aruba, Dubai, Jersey

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☆ Bitcoin and other cryptocurrencies plunge, mirroring global markets.
▼ + stars: | 2024-08-05 | by ( David Yaffe-Bellany | More About David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

The prices of Bitcoin and other major cryptocurrencies plunged over the last two days, mirroring the volatility in global stock markets and ending a run of growth and excitement in the crypto industry. The price of Ether, the second most valuable cryptocurrency, was down nearly 20 percent over the same period. And the panic is a reminder that Bitcoin and other cryptocurrencies are highly volatile, prone to dramatic increases and decreases in value. In January, the approval of a new financial product tied to the price of Bitcoin prompted a market surge that propelled Bitcoin to its highest-ever price. The excitement even led to a wave of new memecoins, the digital currencies tied to internet jokes.

Persons: Bitcoin

☆ Global markets are off to a terrible start this week, and Japan is partly to blame
▼ + stars: | 2024-08-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewGlobal markets are off to a terrible start to the week. Stock markets are crashing across Asia after Japan's interest-rate hike last week contributed to a selloff that got worse and worse. AdvertisementInvestors are also on edge before the US markets open later in the global day. Global carry trade unwindingThe Bank of Japan raised its interest rate from between 0% and 0.1% to 0.25% on Wednesday — the highest level in 15 years. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation.

Persons: —, Kospi, India's Sensex, Tony Sycamore, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Stock, Business, IG Australia, Bloomberg, CSI, Dow Jones Industrial, Nasdaq, Federal Reserve, Bank of Japan, ING Locations: Asia, Japan

☆ Stocks making the biggest moves midday: Robinhood, Nvidia, Intel and more
▼ + stars: | 2024-08-05 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Crypto stocks — Several bitcoin-related names were hit following the cryptocurrency's drop below $50,000 for the first time since February. Apple — The tech stock dropped more than 5% in the broad market sell-off after news that Warren Buffett's Berkshire Hathaway dumped half its stake in the iPhone maker. Palantir — The software stock fell more than 4% ahead of the company's s quarterly results. Tech stocks — Major tech names dropped during Monday's sell-off. According to LSEG, analysts are expecting a loss of 26 cents per share on revenue of $192 million.

Persons: Robinhood, MicroStrategy, Warren, Berkshire Hathaway, Tyson, Tyson Foods, —, Samantha Subin, Yun Li, Sarah Min, Darla Mercado Organizations: Nvidia, Computer, Micro Computer, Semiconductor, VanEck Semiconductor, Micron Technology, Taiwan Semiconductor Manufacturing, Arm Holdings, Apple, Oracle, Tech, Microsoft, Facebook, Meta, Intel —, FactSet, GameStop Locations: Berkshire, Omaha, FactSet .

☆ Global stock markets are sliding as Japan suffers biggest fall since 1987
▼ + stars: | 2024-08-05 | by ( Huileng Tan | Polly Thompson | ) www.businessinsider.com time to read: +5 min

Read previewJapan's main stock market index suffered its biggest fall since 1987, closing 12.4% lower on Monday, while markets in Asia and Europe also fell sharply. US stock markets sunk at the end of last week as investors digested a streak of negative economic data and disappointing earnings from Big Tech companies. The Chinese stock markets were already under pressure this year due to the country's economic troubles. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation. AdvertisementThe BoJ's rate hike has also fanned further risk-off sentiment in global stock markets.

Persons: —, Tony Sycamore, Taiwan's Taiex, Paris, it's, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Nikkei, Business, Big Tech, Nasdaq, IG Australia, Bloomberg TV, Kospi, CSI, Federal Reserve, Bloomberg, Bank of Japan, ING Locations: Asia, Europe, Frankfurt, London, Japan

As U.S. markets opened for trading on Monday, tech's mega-cap companies lost about $1 trillion in market cap, deepening a downturn that sent the Nasdaq into correction territory last week. Nvidia shed more than $300 billion in market cap at the opening bell, though it quickly recovered about half of its loss. The company surpassed $3 trillion in market cap and briefly passed Microsoft and Apple to become the world's most valuable company. Its market cap now sits below $2.5 trillion. A widely-read Goldman Sachs note from June warned that the biggest-spending companies had little to show for their AI expenditures.

Persons: Bitcoin, It's, Mark Zuckerberg, Sundar Pichai, Goldman Sachs Organizations: New York Stock Exchange, Nasdaq, Nvidia, Apple, Microsoft, Nikkei, Google, Elliott Management Locations: U.S, Meta, cryptocurrency

☆ Dow plunges more than 1,000 points as global stock rout deepens on recession fear
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market crashed Monday, with the Nasdaq 100 dropping nearly 6%. AdvertisementUS stocks crashed on Monday, with the Nasdaq shedding nearly 6% as the global market rout that kicked off late last week accelerated. AdvertisementThe losses accelerated on Monday after Japan's stock market experienced its worst decline since the Black Monday crash in 1987, falling 12%. Berkshire Hathaway now holds a record $277 billion in cash, leading to some investors worrying that Buffett has soured on the stock market. The bigger question is whether this bloodletting will prove sufficient to provide a basis for a resumption of the stock market rally, and ultimately fresh record highs.

Persons: —, nonfarm payrolls, Jamie Cox, Warren, Berkshire Hathaway, Buffett, bitcoin, David Morrison Organizations: Nasdaq, Berkshire Hathaway's Apple, Service, Dow Jones, Amazon, Intel, Bank of Japan, Federal Reserve, Harris Financial, Berkshire Hathaway's, Berkshire, FCA Locations: Berkshire

☆ Why the stock market is freaking out again
▼ + stars: | 2024-08-05 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

The Dow tumbled more than 1,000 points at the open, and the broader market plunged 3% Monday. The Nasdaq, full of risky tech stocks, dropped 3.7%. Although that’s not in and of itself an unhealthy unemployment rate, its sudden march higher is alarming: Last year, the unemployment rate was at its lowest level since the moon landing. Traders are beginning to unwind big trades on Apple, Nvidia, Microsoft, Meta, Amazon, Alphabet and other tech stocks that had been surging since the beginning of last year. Monday’s rout, if it ends at current levels, wouldn’t even crack the top 100 worst days in market history.

Persons: Dow, that’s, Goldman Sachs, That’s, Jeremy Siegel, “, ”, Siegel, Stocks, it’ll, Warren Buffett, Berkshire Hathaway Organizations: CNN, Nasdaq, Nikkei, Federal Reserve, of Labor Statistics, Citigroup, JPMorgan, CNBC, Traders, Apple, Nvidia, Microsoft, Meta, Berkshire Locations: Wall

☆ Bitcoin tumbles as risk assets plunge in global market rout
▼ + stars: | 2024-08-05 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Bitcoin dropped on Monday amid the global market meltdown. Crypto has not been spared the carnage as traders eye a growing risk of a US recession. The sell-off in crypto comes as risk assets plunge in a global market rout caused by worries over the state of the US economy. Some market observers have said that the historic market rout could prompt an emergency rate cut from the central bank in the next week. Japan's Nikkei 225 index dropped 12% early Monday in its worst single-day decline since 1987, and markets in South Korea and Europe also plunged.

Persons: Bitcoin, Crypto, —, Gracy Chen Organizations: Service, Federal Reserve, Fed, Japan's Nikkei, Bank of America Locations: South Korea, Europe

Signs of a slowing U.S. economy sowed panic among investors on Monday, with a sell-off in markets that began last week turning into a global rout. The moves were a sharp reversal in major stock markets, which for much of the past year have risen to new heights, propelled by optimism about cooling inflation, solid labor markets and the promise of artificial intelligence technology. South Korea’s benchmark Kospi index fell more than 10 percent at one point. Japanese stocks have been on a tear for more than a year, fueled by a weak Japanese yen. Adding to the pressure, foreign investors have started selling off positions in Japanese stocks over the last few weeks.

Persons: ”, Andrew Brenner, Goldman Sachs, Goldman, Jordi Basco Carrera, ’, Basco Carrera, Jitters, Jesper Koll, Koll, John Liu, Melissa Eddy Organizations: Federal, Nasdaq, National Alliance Securities, Equity, Technology, Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Nvidia, Intel, Allianz, Monex, Bank of Japan, Tokyo Stock Exchange Locations: Asia, Europe, Americas, Japan, U.S, Taiwan, Singapore, Australia, Hong Kong, China, Stocks, India, Netherlands, Switzerland, New York, Munich, “, New, Seoul, Berlin

☆ Tuesday's big stock stories: What's likely to move the market in the next trading session
▼ + stars: | 2024-08-05 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +2 min

It's now 18% from the February 52-week high. The stock is 17% from the April 52-week high. Dow Winners There are only four Dow stocks that are up in the last three days. Shares are 1.7% from the July 24 52-week high. The stock is 11% from the January 52-week high.

Persons: Russell, Crypto, Michael Saylor, MicroStrategy, Cleanspark, Joe Hinrichs, It's, Johnson, McDonald's Organizations: CNBC, Nasdaq, Dow Jones, Galaxy, CSX, Caterpillar, Dow, Procter, Gamble, Johnson

Two credit unions are offering CDs with at least 9% APY, which is much higher than normal. There are currently not one, but two credit unions offering CDs with at least 9% annual percentage rate, or APY: California Coast Credit Union and Express Credit Union. Since both of these financial institutions are credit unions, you'll need to be eligible for membership to open any accounts with them. You'll also be able to become a member of Express Credit Union if an immediate family member is already a member of that credit union. California Coast Credit Union offers the California Coast Credit Union Celebration Certificate, which lasts for five months and gives 9.50% APY.

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☆ Our bend-don't-break economy is reaching its limit
▼ + stars: | 2024-08-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, interest-rate cuts are almost certainly coming, but the relief won't be felt immediately . The big storyCrash landingKevin Dietsch/Getty, Tyler Le/BIOur bend-don't-break economy might finally have reached its limit. After a year of resiliency in the face of high interest rates, the cracks are showing in the US economy. But it's not a silver bullet, and the rate cut's effect will take time to make its way through the economy.

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☆ Bitcoin's shellacking during global markets decline calls into question 'safe haven' theory again
▼ + stars: | 2024-08-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Cryptocurrencies were among the hardest assets hit this morning as bitcoin slid 15% toward its worst day since June 2022. The turmoil has investors wondering, once again: what happened to the narrative that bitcoin is a store of value, and a hedge against uncertainty? For short- and even medium-term traders it may not be, since it trades so closely with risk assets. "That's, in a way, why [it] tends to have a more solid floor than other risk assets like equities … because of the diversity of their narrative." Before this weekend bitcoin was supported by a strong floor of about $55,000 and has struggled to break through its $70,000 ceiling.

Persons: bitcoin, Bitcoin, it's, Noelle Acheson Organizations: Dow Jones, Nasdaq, CNBC, Marathon

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin plunges sharply as recession fears drive global market sell-off: 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, Matt Hougan, chief investment officer at Bitwise Asset Management, discusses the steep drop in crypto markets amid a global market sell-off.

Persons: explainers, Matt Hougan Organizations: CNBC Crypto, CNBC, Bitwise Asset Management

☆ Bitcoin's narrative as a stored value is being decimated as we speak, says Tezos' Kathleen Breitman
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin's narrative as a stored value is being decimated as we speak, says Tezos' Kathleen BreitmanKathleen Breitman, Tezos co-founder, joins 'Squawk Box' to discuss the state of crypto, what to make of the global sell-off, and more.

Persons: Tezos, Kathleen Breitman Kathleen Breitman

☆ Ron Insana: Fed should reassure market it's ready to act, as this resembles late '90s foreign markets crises
▼ + stars: | 2024-08-05 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

First, when everything is being sold – and just about everything is being sold on Monday – someone is in big trouble. The spillover effect – exacerbated by a Federal Reserve reluctant to cut interest rates even as inflation cools – has put all assets on sale. This suggests that fears of a financial market problem are greater than those of a widening Middle East war. Should the situation become more tumultuous, the Fed could be forced into cutting interest rates between meetings. Indeed, when the Fed responded to the 1998 event by cutting interest rates , stocks went on a tear before topping out in 2000.

Persons: I've, Michael Gayed, Cashin, It's, Stanley Druckenmiller, Japan —, Ron Insana Organizations: Federal Reserve, Nikkei, UBS, Term Capital Management, CNBC Locations: Japan, Israel, Iran

☆ VIDEO: What to do when the stock market crashes: Advice on retirement savings and investment portfolio
▼ + stars: | 2024-08-05 | by ( Demetrius Pipkin | ) edition.cnn.com time to read: 1 min

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☆ Using a 'bear put spread' to hedge against further market declines
▼ + stars: | 2024-08-05 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

The S & P 500 5,350 puts I discussed are trading nearly $170 as I write this, up ~ $12,000 per contract. This is even though the S & P 500 is down only 2.3% since I wrote that article over a month ago. One could roll those options down and out to the September 5200/4500 S & P 500 put spread which costs about $100. If you didn't read the earlier article, here are the components of a long put spread, sometimes referred to as a "Bear Put Spread." In periods of high implied volatility, option premiums are generally higher because the market anticipates larger price movements.

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☆ Middle East tensions: Those leaving Lebanon hold their families extra tight as they say goodbye
▼ + stars: | 2024-08-05 | by ( Ivan Watson | ) edition.cnn.com time to read: +8 min

Beirut, Lebanon CNN —When our plane finally took off from Beirut, it was nearly an hour late. Before departing for the airport, we held each other extra tight, not sure when we would see each other again. Moments later, the Israeli military carried out a “targeted strike” in southern Beirut, roughly 10 minutes’ drive away. The next day, the hills shook with the sound of sonic booms as Israeli war planes broke the sound barrier overhead. The CNN team in Beirut later confirmed reports that Israeli warplanes had broken the sound barrier in skies over Lebanon.

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☆ Stocks making the biggest moves premarket: Nvidia, Apple, Kellanova and more
▼ + stars: | 2024-08-05 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell: Chip stocks — Nvidia shares fell roughly 12.5% in premarket trading as the artificial intelligence trade continues to unwind, dragging down once-hot semiconductor plays. Apple — Apple shares sank more than 6% after Warren Buffett's Berkshire Hathaway revealed it sold nearly half its stake in the iPhone maker. Tech stocks — Major tech stocks were among the biggest losers of Monday's global market sell-off. Analysts polled by FactSet forecast a loss of 27 cents per share for the second quarter on $190.3 million in revenue. Crypto — Stocks tied to the price of bitcoin were among the hardest hit in premarket trading as the flagship cryptocurrency dropped below $50,000 for the first time this year.

Persons: Warren Buffett's Berkshire Hathaway, Tesla, Crypto, Stocks, Coinbase, MicroStrategy, Palantir, Macheel, Samantha Subin, Jesse Pound, Brian Evans Organizations: Nvidia, Broadcom, Computer, Arm Holdings, Apple, Tech, Facebook, Microsoft, FactSet, Reuters, Street Journal, Marathon

☆ We're Broadway performers who moved from NYC to Colorado Springs to open a gay bar. We love CO Springs' small-town vibe but miss New York.
▼ + stars: | 2024-08-04 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +8 min

During the pandemic, they moved to Colorado Springs, where they opened the city's first gay cocktail bar, ICONS. Josh: I was born and raised in Colorado Springs, but I moved to New York at the age of 22. We could feel the energy growing in Colorado Springs, so we figured it was a smart move. If you told teenage me that a gay bar would be voted best bar in Colorado Springs, I would have said you were crazy. We love, love, love it.

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☆ With my Costco executive membership and store card, I earn enough rewards to pay for a whole shopping trip — here's how
▼ + stars: | 2024-08-04 | by ( Dawn Levitt | ) www.businessinsider.com time to read: +4 min

But even so, I think the pricier executive membership is 100% worth it for my family — especially when it's paired with the rewards from my Costco store credit card. Just remember that it's a credit card, and interest will be charged on any balance you carry over. Lindsey Nicholson/UCG/Universal Images Group via Getty ImagesFor my family, our average $300 monthly trip earns us an annual $72 from executive-membership rebates and $72 in Costco credit card rewards. For example, last year, we bought a washer and dryer, tires for the car, and my laptop through our Costco membership. In total, we earned over $400 last year between our executive membership and Costco store credit card.

Persons: —, it's, Dawn Levitt There's, I'm, It's, Lindsey Nicholson Organizations: Service, Costco, Business, Citi, Shipping, Getty

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