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☆ Gold faces worst week in more than 3 years on bets of slower Fed easing
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: +2 min

Gold traded little changed on Friday, but was set for its worst week in more than three years, hurt by a stronger U.S. dollar amid expectations of fewer Federal Reserve rate cuts. Spot gold rose 0.1% to $2,569.69 per ounce by 0308 GMT after a five-session slide. Fed Chair Jerome Powell said on Thursday steady economic growth, a strong job market, and persistent inflation justify caution in cutting rates quickly. With a quiet U.S. calendar next week, gold could rebound, potentially retesting $2,600 level, Simpson said. Spot silver rose 0.2% to $30.52 per ounce, platinum edged up 0.1% to $940.68 and palladium added 0.5% to $946.00.

Persons: Gold, Donald Trump's, Fawad, Jerome Powell, Trump, Matt Simpson, Simpson Organizations: U.S ., Trump, Forex.com

☆ Stock market today: Dow jumps 337 points to fresh record as US stocks rise on solid earnings
▼ + stars: | 2024-10-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Stocks rose on Wednesday after traders took in a handful of strong corporate earnings reports. Chip stocks wavered after Tuesday's selloff, with eyes on TSMC ahead of earnings. AdvertisementUS stocks rose on Wednesday as traders took in strong earnings results to bounce back from a sell-off in the chip sector in the previous session. Stocks, though, are on par for another strong quarter of earnings results. The S&P 500 is on track to report 7% year-per-year earnings growth for the third quarter, according to estimates from FactSet.

Persons: Morgan Stanley, Tuesday's selloff, —, ASML Organizations: United Airlines, Service, Dow Jones, Micro Devices, Investors, Nvidia Locations: FactSet, Here's

☆ Stock market today: Indexes struggle for direction as investors await wave of data
▼ + stars: | 2024-07-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks closed mixed as investors awaited a wave of data this week, from earnings to the July jobs report. 171 S&P 500 companies, including Apple, Microsoft, and Amazon, will report Q2 earnings this week. AdvertisementUS stock indexes closed mixed on Monday as investors awaited a massive wave of data this week. AdvertisementAmid the steady stream of earnings data, investors will also turn their attention to the Federal Reserve's FOMC meeting on Wednesday. AdvertisementThe jobs report will help inform the Federal Reserve's interest rate policy going forward, as the Fed balances a steady economy with a falling inflation rate.

Persons: —, Jerome Powell, Fawad Razaqzada, Forex.com Organizations: Apple, Microsoft, Service, Federal, Business

☆ Stocks hate this one weird trick from the calendar
▼ + stars: | 2024-02-29 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —Leap Day might seem like fun and games — until you consider Wall Street. To account for that gap, Julius Caesar in 45 BC decreed that an extra day be added every four years, leading to the Julian calendar. Pope Gregory XIII in 1582 AD created the Gregorian calendar, coined the term “leap year” and established February 29 as the official leap day. He adds that a leap day can also help marginally raise corporate earnings, since companies get an extra day in a fiscal quarter to operate. History shows that stocks tend to perform worse when an additional day is added to the calendar.

Persons: Julius Caesar, Pope Gregory XIII, Matt Weller, Weller, Dow, ”, “ Barbie ”, “ Oppenheimer, ’, Samantha Delouya, It’s, Read, Sam’s, Sam, Matt Egan, Banks Organizations: CNN Business, Bell, New York CNN, Dow Jones, Bulls, Research, AMC Entertainment, AMC, Treasury Department, CNN, Treasury Locations: New York, FOREX.com

TOKYO (AP) — Asian shares mostly fell Wednesday although a strong report on U.S. consumer confidence and hopes the Federal Reserve is finished with its aggressive interest rate hikes sent shares higher on Wall Street. Food delivery company Meituan's Hong Kong-traded shares dropped 11% after it forecast its revenue will fall in the current quarter. The loosening grip from inflation and a resilient economy have raised hopes that the Fed might finally be finished with raising its benchmark interest rate. Hopes that the Fed will keep its benchmark interest rate steady were reaffirmed Tuesday by Christopher Waller, a member of the Fed’s Board of Governors. The Fed will meet again in December to update its interest rate policy.

Persons: Australia's, Hang Seng, Matthew Weller, Forex.com, Brent, Tesla, Christopher Waller, “, ” Waller, Damian J, Troise, Alex Veiga Organizations: TOKYO, Reserve, Nikkei, China Evergrande, Benchmark, New York Mercantile Exchange, Dow Jones, Nasdaq, Microsoft, GE Healthcare Technologies, Treasury, Federal Reserve, Fed’s, Governors, American Enterprise Institute, U.S ., AP Business Locations: Hong, Shanghai, Hong Kong, China, OPEC, Washington

☆ Top bitcoin miners sold everything they produced last month and cashed out some of their own holdings as the token's price surged
▼ + stars: | 2023-11-07 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Top bitcoin miners sold more tokens than they produced last month, according to data portal The Miner Mag. Thirteen public miners sold $164 million worth of bitcoin, cashing in on its price rally in October. Miners' bitcoin liquidation-to-production ratio last month was 104%, up from 70% over the summer. AdvertisementAdvertisementTop crypto miners capitalized on the surge in bitcoin prices last month, selling more tokens than they produced. According to a post on crypto data portal The Miner Mag, 13 public bitcoin miners, including Hut 8 and Bit Digital, sold a total of 15,492 tokens worth $164 million.

Persons: —, bitcoin Organizations: Miners, Service Locations: Riding, what's

☆ Bitcoin may see a 'supply shock' as available tokens hit their lowest level since 2018 with a potential ETF likely to jolt demand, analyst says
▼ + stars: | 2023-10-27 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

That could set up a supply shock with potential approval of a spot bitcoin ETF looming, an analyst said. AdvertisementAdvertisementThe world's largest cryptocurrency by market capitalization might run into a shortage of liquid supply, especially with potential approval of a spot bitcoin ETF poised to boost demand. Bitcoin balance on exchanges and price of bitcoin CoinDesk, GlassnodeThe supply crunch could set up bitcoin for another price spike. Earlier this week, bitcoin hit $35,000, the highest since May 2022, on hopes that a spot bitcoin ETF would get regulatory approval soon. AdvertisementAdvertisementUnlike a regular currency, the supply of bitcoin was designed to be finite, capped at 21 million tokens.

Persons: Bitcoin, —, Matt Weller, CoinDesk, there's, bitcoin, Weller, haven't Organizations: Service

☆ Key US bond yields drop to their lowest in 6 months as global banking worries boost bets the Fed is heading toward a rate cut
▼ + stars: | 2023-03-24 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Odds of a pause in rate hikes in May soared to 90% and investors are pricing in potential for a June rate cut. The 2-year yield dropped to 3.59% and sharp moves of 20 basis points have "become the norm," said one investment firm. The 2-year Treasury yield, which is highly sensitive to views on US monetary policy, sank 22 basis points to 3.598%, hitting levels not seen since mid-September. Bets that the Fed will pause rate hikes then turn to cutting rates this summer jumped Friday. It opted to raise rates by 25 basis points to signal its commitment to lowering inflation to its 2% target.

☆ The dollar jumps to a 4-week high as traders place bets on more Fed rate hikes after strong private payrolls report
▼ + stars: | 2023-01-05 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

A closely watched measure of the US dollar pushed to its highest in about a month on Thursday after a strong ADP jobs report. The US Dollar Index climbed past 105 for the first time since early December as the Fed is likely to stick to hiking interest rates. "Accordingly, traders have pushed up their expectations for the terminal interest rates in the US," with June fed funds futures contract implying a peak interest rate of above 5%. Such a move would put the fed funds rate at a range of 5.25% to 5.5%. The Fed views inflation as still "unacceptably high," the minutes showed.

☆ Investors flock to short crypto funds, products as negative sentiment deepens -CoinShares
▼ + stars: | 2022-11-21 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +2 min

Crypto products and funds saw inflows of $44 million, as of the week ended Nov. 18, but 75% of those flows represented investments in short crypto products, data showed. The total assets under management have plunged to $22 billion, the lowest in two years, CoinShares said. FTX filed for bankruptcy protection in the United States more than a week ago in the highest-profile crypto implosion to date. CoinShares data also showed that bitcoin posted inflows of $14 million, but when offset by inflows into short investment products, the net flows were a negative $4.3 million. Investors poured in record inflows to short-Ethereum products of $14 million.

☆ The dollar is sliding against the yen after Japan's market intervention, but the yen's advance won't last long, analysts say
▼ + stars: | 2022-09-22 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

The US dollar dropped against the Japanese yen on Thursday after Japan intervened in the currency market for the first time since 1998. The dollar lost as much as 2.6% when it hit 140.33 against the Japanese yen, the lowest level since September 6. It was Japan's first currency market intervention since 1998. The dollar this year has climbed 25% against Japan's currency, underscoring the greenback's broad strength against major currencies as the Federal Reserve aggressively raises rates to combat inflation. "Alongside growing rate differentials, Japan's weak trade balance (in part due to elevated energy prices) has also contributed to the yen's weakening.

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