Federal Reserve Chair Jerome Powell signaled that the central bank will slow its pace of rate hikes (opens in new tab) next month, but stressed that borrowing costs will remain high for the foreseeable future in a bid to halt the worst inflation (opens in new tab) in four decades. In a speech delivered at… Continue reading Fed Chief Jerome Powell Signals Slowdown in Rate Hikes: What the Experts Are Saying
CrowdStrike Stock Is a Screaming Buy, Wall Street Says
Analysts say CrowdStrike (CRWD (opens in new tab)) is a buy on the dip after shares in the cybersecurity company lost more than 20% of their value at one point in early Wednesday trading. CrowdStrike, which provides cloud-based (opens in new tab) data protection, threat intelligence and security services, posted third-quarter results late Tuesday that… Continue reading CrowdStrike Stock Is a Screaming Buy, Wall Street Says
ADP: Hiring Slows in November to a Nearly Two-Year Low
A private reading of business hiring fell in November to the slowest pace in nearly two years, raising the possibility that job growth is beginning to cool in response to hawkish Federal Reserve policy. Businesses added 127,000 new jobs in November, according to a new report by ADP Research Institute (opens in new tab) in… Continue reading ADP: Hiring Slows in November to a Nearly Two-Year Low
Bitcoin jumps to a 2-week high of $17,000, but crypto experts say don’t cheer the rally as FTX contagion is far from contained
Bitcoin hit $17,000 on Wednesday, trading at a two-week high. An analyst breaks down why he expects continued headwinds across the board for asset prices. Industry experts told Insider their crypto market outlook post-FTX collapse. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the… Continue reading Bitcoin jumps to a 2-week high of $17,000, but crypto experts say don’t cheer the rally as FTX contagion is far from contained
Nasdaq soars 4% after Jerome Powell indicates the Fed is on track to slow rate hikes in December
Matthew Fox Spencer Platt/Getty Images US stocks soared on Wednesday after Fed Chairman Jerome Powell said slower interest rate hikes are likely.Powell all but confirmed a 50 basis-point rate hike in December, dialing back from the four consecutive 75 basis-point hikes. “It is entirely possible the December hike of 50 basis points could be the last… Continue reading Nasdaq soars 4% after Jerome Powell indicates the Fed is on track to slow rate hikes in December
Binance hires the accounting firm that disavowed Donald Trump’s financials to verify its crypto reserves
Binance is enlisting accounting firm Mazars to verify its cryptocurrency reserves. Mazars’ US unit previously worked for former President Donald Trump and his company. Earlier this year, Mazars USA said it no longer stands by 10 years of financial statements for Trump. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Binance hires the accounting firm that disavowed Donald Trump’s financials to verify its crypto reserves
Markets should brace for a period of central bank-induced turmoil before the Fed dials back on rate hikes, and stocks could soon retest recent lows, JPMorgan says
Stocks could be in for another bout of volatility before the Fed pivots from aggressive rate hikes, JPMorgan warned. That’s because the Fed and other central banks could inject more volatility before backing down from raising rates. Stocks could retest recent lows in the first quarter of 2023, strategists predicted. Loading Something is loading. Thanks… Continue reading Markets should brace for a period of central bank-induced turmoil before the Fed dials back on rate hikes, and stocks could soon retest recent lows, JPMorgan says
Kraken, the 3rd-largest digital assets exchange, is laying off 30% of its staff as crypto winter deepens
Kraken is laying off 1,100 of its employees, the company said in a blog post Wednesday. The news comes at a difficult time for the industry, as bankruptcies mount and crypto prices languish. A Kraken spokesperson told Insider that the company had “no material exposure” to FTX. Loading Something is loading. Thanks for signing up!… Continue reading Kraken, the 3rd-largest digital assets exchange, is laying off 30% of its staff as crypto winter deepens
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