Big tech sold off in late hours after Meta Platforms Inc.’s disappointing outlook raised concern on whether the artificial-intelligence euphoria that has powered the bull market has run too far.
MicroStrategy stock was down 10% on Tuesday, while Coinbase and other crypto stocks also dumped. Bitcoin price traded to lows of $60,600 before seeing a slight recovery. MicroStrategy, Coinbase, Riot Platforms and Marathon Digital stocks are among crypto-related stocks seeing downside pressure amid Bitcoin’s price struggles. MicroStrategy stock dumps 10% Coinbase’s COIN was down 3% […]
The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Yen Dumped, Yield-Curve Pumped, Bonds & Bitcoin Slump Quiet macro day with Durable Goods Orders looking like a beat - but only because of sizable downward revisions - as orders and shipments are actually down on a YoY basis. Source: Bloomberg But stocks were messy with an opening bid immediately squelched and post-EU-close ramp faded into the US close. Small Caps were the day's laggard as Nasdaq outperformed while The Dow and S&P desperately tried to get green Nasdaq and The...
Block, Inc. (NYSE:SQ) shares rose after the company reported its first-quarter financial results on Thursday. Here's a look at the highlights. Block reported quarterly sales of $5.957 billion, which beat the analyst consensus estimate of $5.821 billion, representing a 19.38% increase over sales of $4.99 billion from last year. The company reported adjusted earnings of 85 cents per share, beating the 72 cents per share consensus estimate. Cash App generated a quarterly gross profit of $1.26...
Yen & Yellen Yank Stocks, Bonds, & The Dollar On Otherwise Quiet Day A quiet micro and macro-economic day was dominated by Treasury's refunding size estimates (which spoiled all the fun by coming in less than some hyperbolic expectations a but generally in line with expectations), and Japanese intervention the FX markets. As Goldman's trading desk noted, a quiet start to a busy week with the S&P trading within a 15 handle range (volumes -11% vs 20dma) and largely traded in a vacuum...
Gold Flowers Amid April 'Stagflation' Showers; Stocks, Bonds, & Crypto Crushed The final day of April was really ugly: ECI way hotter than expected (spooked markets), Case-Shiller home prices soared far more than expected (spooked markets more), Chicago PMI puked (while prices paid increased), Consumer Confidence crashed, and Dallas Fed Services slumped all of which left stocks, bonds, gold, crude oil, and bitcoin all languishing into month-end while the dollar rallied. Stocks...
The new stock trading system is expected to go live on May 2
Yves Bennaïm, founder and chair of 2B4CH, a Swiss pro-Bitcoin think tank, is launching a popular initiative to amend the country’s constitution to allow its central bank to purchase and hold bitcoin. The initiative is also supported by Bitcoin Suisse President Luzius Meisser, who believes the bank should add bitcoin to its reserves. A Reform […]
Warner Bros. Discovery (WBD) stock fell more than 9% on Tuesday after The
Gold Hammered As Short-Squeeze Saves Stocks Ahead Of Micro/Macro Storm This Week The "calm before the storm" of earnings and big macro this week (and no WW3 this weekend) was all the algos needed to ramp stocks during the US cash session after being reminded that the buyback-blackout period is almost over And S&P HOD as algos start frontrunning the buybacks https://t.co/DfjpdZO1pS — zerohedge (@zerohedge) April 22, 2024 Stocks had fallen from up around 0.6% at the cash open to...
Following a share-sale plan executed last year, MicroStrategy founder Michael Saylor has profited handsomely from unloading stock in 2024.