Markets

Russia’s attempt to make payments on dollar bonds with rubles constitutes a potential default, a panel ruled.  The Credit Derivatives Determinations Committee called the payment a “potential failure-to-pay event.” The ruling brings Russia to the brink of its first sovereign debt default in a century.  Loading Something is loading. Russia’s attempt to pay for two… Continue reading Russia faces potential default scenario after using rubles to make payments on dollar bonds, industry group rules

Netflix stock sank 23% late Tuesday after issuing a disappointing update on its subscribership.  The company said it lost 200,000 subscribers in the first quarter and expects to lose another 2 million its current quarter.  It also said revenue isn’t growing as much as it would like.  Loading Something is loading. Netflix stock dropped more… Continue reading Netflix plunges 24% as the streaming giant reports that it lost 200,000 subscribers last quarter and see more declines ahead

Russia plans to file lawsuits over the freezing of its foreign currency reserves by Western nations, Interfax reported Tuesday.  Russia’s central bank governor didn’t specify who Moscow would sue to regain access to $300 billion in reserves.  Moscow was cut off from the reserves for invading Ukraine in February.  Loading Something is loading. Russia plans… Continue reading Russia plans to sue to regain access to $300 billion in frozen foreign currency reserves

US stocks surged on Tuesday as investors digested a wave of corporate earnings results.Of the 42 companies that have reported so far, overall profits are beating estimates by a median of 6%, according to Fundstrat.Oil prices sank after the IMF cut its global growth forecast due to the economic fallout of Russia’s invasion of Ukraine.… Continue reading Dow surges 500 points as companies post strong earnings and oil prices fall

Oil prices could spike to $185 a barrel if EU abruptly banned Russian crude, JPMorgan said Tuesday.  A full and immediate embargo would displace 4 million barrels per day of Russian oil.  A slower phase-out of Russian crude would likely have little effect on prices.  Loading Something is loading. Oil prices could soar if the… Continue reading Oil could jump to $185 a barrel if the EU agrees to an immediate ban of Russian crude exports, says JPMorgan

Cryptocurrency exchange Okcoin is launching the first NFT marketplace that features no royalty cap for creators.  The Randi-Zuckerberg backed crypto exchange will headline the launch with Bored Ape and Crypto Punk NFTs, among others.  On other platforms, NFT royalty rates can be as high as 10%.  Loading Something is loading. Cryptocurrency exchange Okcoin announced a… Continue reading Crypto exchange Okcoin launches first-ever NFT marketplace without a cap on creator royalties

US stocks finished down Monday after a volatile session as investors look ahead to a big week of earnings reports. The bond sell-off continued, with the 10-year Treasury yield rising more than 5 basis points. Meanwhile, the World Bank slashed its global economic growth forecast due to Russia’s invasion of Ukraine.   Loading Something is loading.… Continue reading US stocks fall in volatile session as earnings season heats up and bond sell-off continues

ARK Invest reiterated its bullish view on Tesla on Monday with a $4,600 price target by 2026.The innovation investor said Tesla could more than quadruple from current prices if it succeeds in rolling out a robo-taxi network of self-driving cars.”We now expect more demand for autonomous ride-hail at higher price points than we had modeled… Continue reading Cathie Wood’s Ark Invest says Tesla stock will more than quadruple in price by 2026 if it can deliver a network of self-driving taxis