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Text size Miners spend an average of $15,000 to produce each coin, JPMorgan estimates. Dreamstime The plummeting price of Bitcoin could force crypto miners to sell the tokens to fund operations, further pressuring the digital currency. In good times, crypto mining firms and Bitcoin’s price are locked in a virtuous cycle. The miners own giant … Read More “Bitcoin’s Next Headwind: Struggling Crypto Miners” »
When the S&P 500 officially dropped into a bear market on June 13, closing down more than 20% from its last peak, it stirred debate about whether investors should hold tight or think about buying the dip. Battered stock prices SPX, -2.01% might look tempting for investors, but analysts at the Wells Fargo Investment Institute … Read More “How long will stocks stay in a bear market? It hinges on if a recession hits, says Wells Fargo Institute” »
A little more judging by stock futures reaction this morning. Thank China for some of that as the country announced the biggest easing in COVID travel requirements since about March 2020. China’s news may add to the sense that inflation has peaked, given the supply constraints that the lockdown there has produced. That brings us … Read More “Oaktree’s Howard Marks is finding bargains. ‘I am starting to behave aggressively,’ he says” »
eBay stock was falling after an analyst downgrade. Sean Gallup/Getty Images Text size The stock market was trying to put Monday’s small loss behind it, with S&P 500 futures up 0.6% Tuesday morning. Here are some of the stocks making moves in premarket trading. Bank stocks gained as some of Wall Street’s biggest players announced … Read More “Stocks on the Move: Snowflake, eBay, Qualcomm, Riot Blockchain” »
Citigroup analysts have cut their S&P 500 target for this year by 500 points to 4,200, after stubbornly high inflation spurred the Federal Reserve to aggressively raise interest rates. “Fed hawkishness and the rising real rate impact on valuations has been a defining feature” of the stock market drawdown in the first half of 2022, … Read More “Citigroup cuts S&P 500 target to reflect blend of recession, ‘soft landing’ scenarios” »
Text size Shares in Coinbase have collapsed in 2022 amid a crypto trading slowdown. Tiffany Hagler-Geard/Bloomberg Shares in cryptocurrency exchange Coinbase Global tumbled on Monday after Goldman Sachs downgraded the stock to Sell from Neutral, citing the likelihood that revenue declines will accelerate in the second half of the year. Goldman slashed its price target … Read More “Coinbase Tumbles as the Bear Case Builds. Goldman Sachs Says Sell the Stock.” »
Text size Bitcoin is trading at less than one-third its all-time high from November 2021. Dreamstime Bitcoin and other cryptocurrencies were steadying on Monday, holding firmly above the depths reached amid a deep selloff over the past two weeks but still under pressure. The price of Bitcoin was trading just above flat over the past … Read More “Bitcoin ‘Remains in the Danger Zone’ as Cryptos Steady. Where It Could Go Next.” »
Text size Stocks have rallied in recent sessions as investors fears have eased over aggressive Federal Reserve tightening. Dreamstime Stocks continued their momentum from a rally last week and were rising Monday with fears easing over more aggressive interest-rate increases from the Federal Reserve. Futures for the Dow Jones Industrial Average rose 160 points, or … Read More “Stock Market Today: Dow Futures Rise as Fears Over an Aggressive Fed Ease” »
Text size Federal Reserve Chairman Jerome Powell. Kevin Dietsch/Getty Images) Even bear markets get bounces. The stock market had a terrific week, and for the first time in a long time, the rally feels like it can last. The Dow Jones Industrial Average rose 5.4%, the S&P 500 gained 6.4%, and the Nasdaq Composite climbed … Read More “The Stock Market Rally Is Real. It’s Still a Bear Market.” »
Text size A copper smelter in Jinhua, China. Copper prices, often a signal of where the economy is headed, fell 6% this past week. Top Photo/Sipa USA/Alamy The stock market has predicted nine of the past five recessions, economist Paul Samuelson famously quipped back in the 1960s. A half-century later, is the stock market driving … Read More “Stocks Break Out. There Are Signs Inflation and Interest Rates May Peak Sooner.” »
