Shares of companies with big overseas sales are trailing domestic-focused firms, according to Goldman Sachs. A basket of stocks of domestic focused companies was outperforming firms with overseas tilt by nine percentage points. But outperformance in this bear market merely means a smaller percentage loss. Loading Something is loading. Stocks across Wall Street have been… Continue reading Shares of companies that do more business overseas are significantly underperforming domestic firms as the US dollar surges to 20-year highs, Goldman Sachs says
The S&P 500 could fall another 23% in a worst-case scenario as the stock market prices in a one-third chance of recession, BofA says
The S&P 500 could tumbled to 3,000 in a worst-case scenario, Bank of America said. On Friday, the index closed at about 3,912, with BofA’s estimate representing 23% further downside. BofA also estimated that a one-third chance of a recession has been priced into the stock market so far. Loading Something is loading. The S&P… Continue reading The S&P 500 could fall another 23% in a worst-case scenario as the stock market prices in a one-third chance of recession, BofA says
‘Big Short’ investor Michael Burry, Paul Krugman, and Mark Cuban have weighed in on the crypto crash. Here’s what 7 market watchers say about the sell-off.
Theron Mohamed Michael Burry. Astrid Stawiarz/Getty Images Crypto fans, critics, and commentators have weighed in after the recent market crash. Michael Burry, Paul Krugman, Mark Cuban, Jim Chanos, and others have shared their views. Here’s a roundup of comments from seven crypto watchers about the plunge in prices. Loading Something is loading. Bitcoin, ethereum, and… Continue reading ‘Big Short’ investor Michael Burry, Paul Krugman, and Mark Cuban have weighed in on the crypto crash. Here’s what 7 market watchers say about the sell-off.
Energy costs are soaring, bitcoin’s price is plummeting — and that’s why big crypto miners are selling tokens at a discount
Electricity costs are soaring, putting pressure on profits for companies involved in energy-intensive bitcoin mining. Some publicly-listed crypto miners have sold their bitcoin at a deep discount to cover rising costs. Companies with bitcoin-backed loans are at risk of collapse, and individual miners will be squeezed out, analysts said. Loading Something is loading. Bitcoin miners… Continue reading Energy costs are soaring, bitcoin’s price is plummeting — and that’s why big crypto miners are selling tokens at a discount
Inside NFT.NYC, the Coachella of NFTs, where yacht parties are plentiful and VIP tickets go for $1,999 despite the crypto bear market
Despite the crypto market downdraft, the NFT.NYC conference tripled in size since last year. Someone slept in a garage because “the FOMO” would be “too hard” and he couldn’t afford a hotel. A top VC explains how crypto conferences have changed throughout the years. At a yacht party on the Hudson river, about a dozen… Continue reading Inside NFT.NYC, the Coachella of NFTs, where yacht parties are plentiful and VIP tickets go for $1,999 despite the crypto bear market
US stocks rise to shoot for a weekly gain as recession concerns lead to softening bond yields
US stocks rose Friday, with the S&P 500 set to snap a weekly losing streak. Bond yields have been coming down this week, easing some pain for equities. Wall Street’s indexes may rise after three losing weeks. Loading Something is loading. US stocks stepped higher Friday and were on track to snap a run of… Continue reading US stocks rise to shoot for a weekly gain as recession concerns lead to softening bond yields
Hackers stole $100 million worth of cryptos from Harmony’s blockchain in another blow to digital assets
Hackers stole $100 million worth of cryptocurrencies from the Harmony blockchain Thursday. Harmony said in a tweet that it identified the hack early Thursday morning. The theft is the latest blow to the digital asset sector amid market turbulence. Loading Something is loading. Hackers stole $100 million worth of cryptocurrencies from the Harmony blockchain Thursday,… Continue reading Hackers stole $100 million worth of cryptos from Harmony’s blockchain in another blow to digital assets
A key economic bellwether just fell into a bear market — and it’s happened before every recession in the last 30 years
Copper has entered a bear market, which may indicate a stronger chance that recession is coming. The metal, which is an economic barometer, fell 24% from its peak in May 2021 on Friday. The risk of a recession is gathering pace as interest rate hikes and inflation choke global growth. Loading Something is loading. Copper… Continue reading A key economic bellwether just fell into a bear market — and it’s happened before every recession in the last 30 years
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