Markets

Billions of global virtual land plots are up for sale on the SuperWorld platform.SuperWorld Metaverse Group will invest up to $1 million in SuperWorld, where users can buy virtual versions of global landmarks.  An initial investment of $250,000 will be used to buy land plots on the platform that’s digitally mapped the Earth’s surface.  Metaverse… Continue reading Virtual land developer Metaverse Group is investing up to $1 million in a platform where users can buy digital versions of Central Park and the Eiffel Tower

Hill Street Studios/Getty Images A survey of home builders revealed expectations that lumber prices will continue to soar in 2022.The expected boom comes as demand for homes remains strong and supply chain disruptions persist.”Lumber is expected to go back up significantly this year,” one home builder in Austin said.Sign up here for our daily newsletter,… Continue reading Lumber prices are ‘looking like a repeat of 2021’ as housing demand remains red-hot and supply chain disruptions persist

It’s already been a rocky year for stocks.AP Photo/Richard Drew US futures inched higher Wednesday after the S&P 500 snapped a five-day losing streak. Traders were braced for the release of December’s CPI inflation figure, which is expected to have hit 7%. Stocks have had a rocky time so far this year, as the Fed… Continue reading US stock futures edge higher after S&P 500 breaks losing streak, as traders brace for red-hot inflation print

Jack Taylor/Getty ImagesJack Taylor/Getty Images Public adds loopring and Curve DAO to its cryptocurrency trading platform. The additions brings the total number of digital tokens available for trading to 27. Public added crypto trading in October and has since expanded its offerings several times. Sign up here for our daily newsletter, 10 Things Before the… Continue reading Public adds Loopring and Curve DAO to its cryptocurrency platform to make a total of 27 tokens available for trading

Xinhua/Wang Ying/Getty Images US stocks surged on Tuesday after Fed Chair Jerome Powell told Congress a reduction of its balance sheet is not imminent.Stocks have come under pressure in recent weeks since the Fed signaled it will soon raise interest rates and shrink its balance sheet.The 10-Year US Treasury yield retreated from levels not seen… Continue reading US stocks rebound after Powell says balance sheet reduction isn’t imminent

An IMF chart shows bitcoin and stocks moved closely together during the pandemic.IMF Bitcoin and stocks are moving increasingly in lockstep and that poses financial-stability risks, the IMF said Tuesday.  Bitcoin volatility explains about one-sixth of S&P 500 volatility during the pandemic.  Crypto assets showed little correlation with major stock indexes before the pandemic. Bitcoin… Continue reading Bitcoin and stocks are increasingly moving together, ramping up contagion risks across markets, says IMF

Federal Reserve Chairman Jerome Powell.Andrew Harnik/AP Photo Cryptocurrencies and a central bank digital currency would be able to coexist, Fed Chair Jerome Powell said. Powell was responding to a question posed by Sen. Pat Toomey on Tuesday. In July, the Fed chair said he saw no need for cryptos if the central bank were to… Continue reading Private cryptocurrencies and a US central bank coin would be able to coexist, Fed chief Jerome Powell says

Jamie Dimon has been CEO of JPMorgan since 2005.Jim Watson/AFP via Getty Images JPMorgan boss Jamie Dimon says markets are in for a lot of volatility in 2022. He said he’d be surprised if the Federal Reserve raised interest rates only four times. Yet Dimon said the US economy is in good shape and is… Continue reading JPMorgan boss Jamie Dimon says markets are in for a wild ride this year, and predicts the Fed will hike rates more than 4 times