Markets

MicroStrategy said it plans to continue its bitcoin buying this year, despite the crypto rout. The Wall Street Journal reported its CFO said the firm’s bitcoin approach is to buy and hold. Bitcoin has fallen below $40,000, sinking from its November high of about $69,000. Sign up here for our daily newsletter, 10 Things Before… Continue reading Michael Saylor’s MicroStrategy will keep up its bitcoin buying despite cryptocurrency rout: report

Traders work on the floor of the New York Stock Exchange.Spencer Platt/Getty Images Stocks tumbled early Monday, with the next Fed meeting on deck this week.  Earnings reports from Microsoft and Apple are also due this week.  The S&P 500 and the Nasdaq are coming off their worst weeks since March 2020.  US stocks tumbled… Continue reading US stocks sink as investors brace for Fed policy meeting and mega-cap tech earnings

Warren Buffett has only lagged Cathie Wood by a small margin since the start of 2020. Berkshire Hathaway stock has climbed 34%, while the Ark Innovation ETF has risen 42%. Wood’s flagship ETF has been hit by investors selling growth stocks ahead of interest-rate hikes. Sign up here for our daily newsletter, 10 Things Before… Continue reading Warren Buffett has nearly caught up with Cathie Wood after the tech-stock guru vastly outperformed him in 2020

A woman shops for jewellery at a Kohl’s department store.FREDERIC J. BROWN/AFP/Getty Images Kohl’s shares jumped 34% on Monday following a report of interest by Sycamore Partners in the retailer.  Kohl’s last week reportedly received a $9 billion buyout bid from Acacia Research. The clothing and housewares retailers has been under pressure to improve shareholder… Continue reading Kohl’s soars 34% after report the department store chain has received 2nd takeover bid

New York City Mayor Eric Adams says converting his first paycheck into cryptocurrency is meant to send a message. “We’re going to see a large amount of new technology in the city of New York,” he told CNN. The mayor’s comments came amid a bloody downturn across digital assets over the weekend. Sign up here… Continue reading NYC mayor Eric Adams says his bitcoin investment is about sending a message that the city is open to new tech, sidestepping concerns about crypto plunge

Jack Taylor/Getty Images Cryptocurrencies sank Monday, helping drag the total market’s value down by $400 billion in the last week. Bitcoin and ethereum both hit lows not seen since July as cryptos tracked the slump in stocks. Altcoins are suffering even more, with solana down 40% in the last seven days after another outage. Sign… Continue reading Crypto market shrinks after another $350 billion gets wiped out over the weekend, with bitcoin at a 6-month low

Bitcoin’s past performance suggests the asset class is less like gold and more like stocks.In prior stock market corrections, bitcoin plummeted while gold served as an effective hedge.”The correlation between bitcoin and high-growth benchmark ARKK still stands at ~60% year-to-date,” Fairlead’s Katie Stockton said in a Friday note.Sign up here for our daily newsletter, 10… Continue reading Here are 2 charts that explain why the stock market meltdown and bitcoin’s slump are correlated — and that crypto is not a safe-haven asset like gold

WallStreetBets.REUTERS/Dado Ruvic/Illustration/File Photo WallStreetBets users plan to launch a meme book that documents last year’s GameStop short squeeze. The goal of the project is to “capture the moments in time when GameStop was all anyone was thinking about.” The project has raised $24,000 on Kickstarter, surpassing its funding goal of $20,000.  Sign up here for our daily… Continue reading WallStreetBets users plan to publish a book of memes documenting the GameStop saga — and it already has $24,000 in backing on Kickstarter