Markets

The price of Bitcoin is as stable as it’s been for five years, according to one gauge. That’s largely because nobody is trading the token anymore. Investors fled crypto after a nightmarish 2022 – and bitcoin’s still way below its $69,000 record. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Bitcoin is finally trading like ‘digital gold’ – but only because nobody cares about crypto anymore

Filip De Mott Spencer Platt/Getty Images US stocks finished lower after reversing earlier gains as Apple dragged down indexes. Apple stock tumbled 4.8% as quarterly revenue continued to drop.   The monthly jobs report came in at 187,000, slightly under expectations for July. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading US stocks fall after erasing earlier gains as Apple sells off on earnings

Alphabet slashed its stake in Robinhood stock by nearly 90% in the second quarter, SEC filings show. The Google parent cut its stake from about 4.9 million shares to about 612,000. Robinhood is coming off its first-ever profitable quarter as a public company, but is losing active users. Loading Something is loading. Thanks for signing… Continue reading Alphabet sold almost 90% of its Robinhood stake last quarter

Ukraine launched a sea drone strike on a Russian naval ship near the port of Novorossiysk. The commodities shipping hub shut down for a few hours, halting exports of oil and grain. It follows a wave of Russian attacks on Ukraine’s ports and export facilities. Loading Something is loading. Thanks for signing up! Access your… Continue reading Russian oil and grain exports halted after Ukraine drone strike near Black Sea port

The government could be drowning debt over the next few decades, Renaissance Macro said in a recent research report. The debt-to-GDP ratio could nearly double to 181% by 2053, per Congressional Budget Office projections. “Rising debt + rising interest costs – debt servicing cost disaster,” the research firm said. Loading Something is loading. Thanks for… Continue reading The US will be ‘drowning in debt’ over the next 30 years as interest costs rise

Redfin stock plunged as much as 24% Friday following a downbeat earnings report. Second-quarter revenue dropped 21% compared to 2022.  “Sales volume is near rock bottom,” CEO Glenn Kelman told analysts on Thursday. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Redfin… Continue reading The sluggish housing market is weighing on Redfin’s stock as home sales ‘near rock bottom’

Rep. Mike Gallagher urged President Biden to widen limits on US investments in China. Forthcoming restrictions should cover US participation in Chinese public markets, he said. “If American capital continues to flow to Chinese military companies, we are at risk of funding our own destruction.” Loading Something is loading. Thanks for signing up! Access your… Continue reading US risks ‘funding our own destruction’ if investor capital flows to Chinese defense firms, key lawmaker says

Jennifer Sor Lucas Jackson/Reuters US stocks closed lower on Thursday as investors awaited for Apple and Amazon earnings to roll out. The 10-year Treasury surged 11 basis points, continuing its rise following Fitch’s US credit downgrade.  Commentators say that US dollar and Treasury assets are still a safe haven for investors.  Loading Something is loading.… Continue reading US stocks fall as bond yields jump and investors await Apple, Amazon earnings