Markets

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 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 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

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

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

A bankruptcy judge is allowing the identities of FTX creditors to remain sealed for at least three more months.  “We’re talking about individuals here who are not present – individuals who may be at risk if their name and information is disclosed.” By contrast, the names of top FTX equity holders were revealed in a… Continue reading FTX creditors’ identities will remain under wraps, unlike names of equity holders like Tom Brady, Peter Thiel

Bank of America sees homebuilding stocks pushing higher as housing market conditions improve after a rough 2022.  PulteGroup, Lennar, and Toll Brothers were each upgraded, and NVR is the bank’s top 2023 pick in the sector.  BofA sees the 30-year fixed-rate mortgage drifting down to about 5.25% this year.  Loading Something is loading. Thanks for… Continue reading Battered homebuilder stocks may be primed for a new rally as US mortgage rates look set to drop in 2023, Bank of America says

Hedge funds are starting to believe the latest rally in the stock market, according to Ned Davis Research.The research firm said asset managers have recently reduced their net short positioning.But Fairlead Strategies’ Katie Stockton said any rally will be fleeting as the S&P 500 faces tough resistance at 4,000. Loading Something is loading. Thanks for… Continue reading Hedge funds are finally starting to believe in the stock market’s latest rally, but one analyst warns that any move higher will be fleeting