Bitcoin jumped 8% on Thursday, topping $18,800 and notching a two-month high. The rally came after key inflation data raised hopes for a more favorable macro environment ahead. “While it’s too early to count [the] chickens, the price action since yesterday has been encouraging,” a crypto executive told Insider. Loading Something is loading. Thanks for… Continue reading Bitcoin rallies to a 2-month high after inflation data, shrugging off FTX and DCG troubles for now
Retail investors have sold all of the stocks they bought during the pandemic trading boom
Retail investors have sold all of the stock they bought during the COVID-19 trading boom, according to Goldman Sachs. Goldman said in a Thursday note that it has observed “rapid retail selling” across stocks found in the S&P 500 and Nasdaq 100.”Selling over the past 11 months has completely reversed all the net buying in single… Continue reading Retail investors have sold all of the stocks they bought during the pandemic trading boom
El Salvador passes law for bitcoin-backed ‘volcano bonds’ and eyes expanding to other cryptocurrencies
El Salvador passed legislation that would allow issuance of bitcoin-backed “volcano bonds.” The move follows El Salvador’s previous action that established bitcoin as legal tender. The bond issuance was originally planned for March 2022, with expectations to raise $1 billion. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading El Salvador passes law for bitcoin-backed ‘volcano bonds’ and eyes expanding to other cryptocurrencies
Wharton Professor Jeremy Siegel says the Fed needs to end its aggressive inflation-fighting policy and stop hiking rates now
The Fed needs to stop its aggressive inflation-fighting policy now, according to Wharton Professor Jeremy Siegel. The top economist said the CPI had an “upwards bias” due to lagging indicators. Siegel has urged central bankers to stop aggressively hiking rates in order to avoid a recession. Loading Something is loading. Thanks for signing up! Access… Continue reading Wharton Professor Jeremy Siegel says the Fed needs to end its aggressive inflation-fighting policy and stop hiking rates now
Stock Market Today: Nasdaq Climbs for Fourth Straight Day Ahead of CPI
Stocks climbed higher again Wednesday, with one major benchmark carving out its fourth straight win. Today’s upside came as optimism grew that tomorrow’s release of the Consumer Price Index (CPI) will show that inflation is cooling fast enough to encourage the Federal Reserve to reconsider its size and pace of interest-rate hikes. The S&P 500… Continue reading Stock Market Today: Nasdaq Climbs for Fourth Straight Day Ahead of CPI
Kiplinger’s Industrial Policy Report
The past few years marked a wake-up call in Washington, with the pandemic and supply chain shortages, rising competition with China, the war in Ukraine, and, now, the specter of recession. Lawmakers are taking a more active role in the economy to bolster critical industries, key technologies, and infrastructure. It’s a sea change in policymaking… Continue reading Kiplinger’s Industrial Policy Report
Markets are premature in their optimism that wage inflation is fading, Barclays says
Market optimism that wage growth pressures are diminishing is premature, Barclays Investment Bank said Wednesday. Recent US data suggest earnings growth slowed in December from downwardly revised figures in November. But average hourly earnings numbers “are notoriously noisy,” Barclays said. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading Markets are premature in their optimism that wage inflation is fading, Barclays says
Nasdaq logs its best win streak since September as stocks rise ahead of December inflation report
Matthew Fox Xinhua/Wang Ying/ Getty Images US stocks surged on Wednesday with the Nasdaq 100 notching its first four-day win streak since September.Investors are awaiting the release of the December CPI report on Thursday, with estimates of a 6.5% year-over-year rise.Bank earnings kick off the fourth-quarter reporting season this Friday. Loading Something is loading. Thanks… Continue reading Nasdaq logs its best win streak since September as stocks rise ahead of December inflation report
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