Digital World Acquisition extended its two-day decline to 13% as downloads of Truth Social plummet.The Digital World SPAC has plans to merge with a new social media app launched by former President Donald Trump.Downloads of the Truth Social app have dropped by 95% in recent weeks, according to Bloomberg. Loading Something is loading. Digital World… Continue reading Digital World SPAC tied to Trump’s Truth Social extends two-day decline to 13% after app downloads plummet
US stocks edge higher as investors weigh what a solid jobs report means for Fed rate hikes
US stocks rose Friday following a largely solid March jobs report. The US economy added 431,000 job, and the unemployment rate fell to 3.6%. The S&P 500 begins the second quarter after coming off its first quarterly loss since the pandemic started. Loading Something is loading. Stocks rose Friday as investors started trading in April… Continue reading US stocks edge higher as investors weigh what a solid jobs report means for Fed rate hikes
US stocks fall as major indexes cap off first losing quarter in 2 years amid Fed moves and war in Ukraine
Stocks dropped Thursday, and US indexes notched their first losing quarter since 2020. The Biden Administration announced the release of 1 million barrels of oil per day for the next six months. Economist Mohamed El-Erian warned that financial tightening and inflation are driving uncertainty. Loading Something is loading. US stocks traded in the red to… Continue reading US stocks fall as major indexes cap off first losing quarter in 2 years amid Fed moves and war in Ukraine
There’s a black market in Russia for dollars and euros with deals organized on Telegram and money changing hands at train stations
Russians turned to a black market for dollars and euros as the ruble sank after Putin launched a war on Ukraine, reports said. Numerous channels on social media sites where people look to buy and sell currencies sprang up after the war began. After deals were reached, money then changed hands at train stations or… Continue reading There’s a black market in Russia for dollars and euros with deals organized on Telegram and money changing hands at train stations
Further upside in crypto is limited as stablecoin ownership declines, JPMorgan says
Crypto prices have limited upside ahead as the share of stablecoins relative to the total crypto market fall, according to JPMorgan.Stablecoins’ share of the total crypto market have fallen to 7% from 10%, according to the bank.Stablecoins are viewed as cash on the sidelines that could be utilized to buy cryptocurrencies. Loading Something is loading.… Continue reading Further upside in crypto is limited as stablecoin ownership declines, JPMorgan says
Russia avoids default once again as dollar bond payment goes through even after clearinghouse blocks account, report says
Russia avoided a default as one of its dollar-denominated eurobond payments went through on Thursday. JPMorgan processed the payments, as the bank is listed as a paying agent for Russia’s 2030 debt. Last week, Clearstream blocked Russia from the National Settlement Depository, which receives foreign bond payments. Loading Something is loading. Russia reportedly avoided a… Continue reading Russia avoids default once again as dollar bond payment goes through even after clearinghouse blocks account, report says
Russia’s foreign currency and gold reserves have plunged by more than $38 billion since the Ukraine war began, Russian central bank says
Phil Rosen Russian President Vladimir Putin attends a meeting in Moscow, Russia, on March 29, 2022. Mikhail Klimentyev, Sputnik, Kremlin Pool Photo via AP The Russian central bank said Thursday that its foreign currency and gold reserves have shrunk by $38.8 billion. Interventions and foreign exchange refinancing are part of the reason for the decline,… Continue reading Russia’s foreign currency and gold reserves have plunged by more than $38 billion since the Ukraine war began, Russian central bank says
US stocks snap 4-day win streak as optimism around Russia-Ukraine peace talks fades
US stocks snapped a four-day win streak on Wednesday as optimism around talks between Russia and Ukraine faded.Russia said it has yet to see any breakthrough in its talks with Ukraine, and that a lot of work still remains.Commodity prices rebounded, adding to ongoing concerns of persistent inflation. Loading Something is loading. US stocks fell… Continue reading US stocks snap 4-day win streak as optimism around Russia-Ukraine peace talks fades
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