Binance experienced a decline in liquidity and a decrease in ask depth after a false report of BlackRock's spot ETF approval, causing traders to face slippage and lose money, while exchanges like Kraken and Coinbase performed better due to their market makers' relative sophistication.
Asian shares rise as U.S. stocks rebound and investors await China's economic growth figures, which are expected to show a slowdown in annual growth.
The freight recession is predicted to continue until 2024, with carriers exiting the market and new carrier starts decreasing due to financial stress caused by soaring diesel prices.
Lower projected yields for corn and soybeans in the US have led to increased prices for both crops, with soybean prices reacting more significantly than corn prices due to tighter market conditions. The corn market is adequately supplied, while the soybean market remains tight and uncertain. The report also highlights the importance of the Mississippi River system water levels for soybean export movement.
Canada's cannabis industry is struggling with financial losses and economic challenges due to factors such as overregulation, oversupply, and limited opportunities for international trade, despite being one of the few countries to allow legal recreational marijuana.
Asia-Pacific markets are expected to rise as investors await the release of minutes from Australia's central bank and assess New Zealand's inflation data, while in the US, all three major indexes experienced gains, with the Dow Jones Industrial Average having its best day since September.
Bitcoin's price surged to nearly $30,000 before falling to $28,500 after a false report about the SEC approving a bitcoin spot ETF caused $100 million in liquidations and was later debunked by BlackRock and other sources.
The US housing market is facing a divide as homeowners with low mortgage rates are reluctant to sell, while buyers struggle with high mortgage rates and low inventory.
The share price of Medical Properties Trust was limited by a recommendation downgrade from Wells Fargo analyst Connor Siversky, who changed the rating to "sell" and drastically cut the price target; the company has been struggling due to higher interest rates and a dividend cut.
Asian markets are expected to open higher as investors focus on U.S. economic and corporate factors, despite rising geopolitical tensions in the Middle East.
Major stock indices closed higher, led by the small-cap Russell 2000, as industries that previously lagged experienced gains, while bond yields remained elevated but stable and upcoming Q3 earnings reports from industry leaders are expected.
The US Dollar eased back as market sentiment improved, with investors gearing up for a busy day of economic releases on Tuesday.
Shares of Microsoft Corp. rose 1.50% on a favorable trading day, snapping a two-day losing streak and outperforming some of its competitors.
Taylor Swift's concert film, "Taylor Swift: The Eras Tour," debuted at number one at the box office, earning an estimated $95 to $97 million domestically and $31 to $33 million overseas, making it the best opening for any concert film.
Investors are eyeing the tech sector, particularly Nvidia (NVDA), as it stands out due to its strong balance sheet, substantial cash reserves, and its position as the largest provider of chips in the AI space, making it a favorable investment option even in a slowing economy.
The IPO market has seen a resurgence in the second half of 2023, driven by an AI rally, moderating inflation, and stable interest rates, with companies like Arm Holdings, Instacart, and Klaviyo leading the way and providing insights into emerging trends in the semiconductor, AI, and SaaS sectors. Profitability and revenue diversification are important for the success of upcoming listings, and companies that can meet these demands and provide exposure to the AI ecosystem are likely to be the next wave of IPO winners.
Geopolitical tensions in the Middle East, specifically the Israel-Hamas war, are impacting investor sentiment in the exchange-traded fund market, with the iShares MSCI Israel ETF experiencing losses while other Israel-focused and energy-related ETFs are seeing gains. There are concerns that the war could lead to higher oil prices and potentially hinder the US economy.
Major auctions of modern and contemporary art in London experienced a 28.1% decrease in sales compared to the previous year, indicating a softening market due to geopolitical tensions and higher interest rates; however, Christie's achieved a 3.7% increase in sales compared to last year, while Sotheby's experienced a decline of 55.5%.
U.S. stocks are set to end higher as investors shift their focus to the upcoming third quarter earnings season, while bond prices decline; cryptocurrencies gain attention with bitcoin rising, and major companies like Goldman Sachs, Johnson & Johnson, Netflix, and Tesla prepare to release their quarterly results.
The intense interest in spot market bitcoin ETFs stems from the desire to bridge the gap between traditional finance and the bitcoin asset class, allowing access to billions of dollars of sidelined capital, despite the SEC's historical rejection of spot-based BTC ETF applications due to concerns of market manipulation and inadequate market surveillance systems.
Mike Wilson, Morgan Stanley's top equity chief, predicts that the chances of a year-end stock market rally are diminishing as weak market breadth, declining earnings revisions, and a decline in consumer confidence weigh on the market.
The Arizona Diamondbacks' success in the preseason has led to a resurgence in interest in baseball cards among fans.
Pfizer's prediction of selling $21.5 billion worth of its Covid-19 products in 2023 was initially disregarded by investors.
The release of Huawei's Mate 60 Pro and a decline in iPhone sales in China have allowed Huawei to surpass Apple as the top-selling smartphone brand in the country, with analysts predicting that iPhone shipments will continue to decrease due to weak demand.
Poland's Europhile opposition bloc's surprise election victory has sparked investor optimism for improved ties with the EU and the release of frozen EU funds, although uncertainties remain regarding spending plans and interest rates.
The ongoing bond market selloff is causing the worst Treasury bear market in history, but investors are not panicking due to the orderly nature of the decline and the presence of institutional investors and shorter-term bonds as alternative options.
Citigroup's third-quarter earnings suggest that banks are not expecting the macroeconomic conditions to worsen, despite the pressure faced by lower-income consumers, and the company's management aims to improve efficiency and meet its medium-term targets through a significant transformation. However, Citigroup's stock has underperformed its peers, and investors remain cautious until the bank can provide more confidence in its structural changes and bridge the gap in its RoTCE outlook.
The U.S. Securities and Exchange Commission (SEC) has run out of time to appeal a court ruling that criticized its biased decision in approving a futures-based ETF while denying a similar spot market-based ETF, making the likelihood of a spot market bitcoin ETF listing by the end of the year almost certain, which would have significant implications for the crypto industry and potentially raise bitcoin's price.
Investors should consider running the other way when a stock or group of stocks experiences a frenzy, according to a Wall Street research review.
Pfizer's stock appears to be significantly undervalued, with fair financial health, strong profitability, and better growth rankings than the majority of companies in the Drug Manufacturers industry.
September saw a significant decline in home sales, with the lowest tally since 1995 and a 32 percent drop from the previous year, due to high interest rates and homeowners' reluctance to sell and move to a place with a higher monthly payment, leaving few options for prospective buyers.
The global smartphone market experienced a contraction of 8% in the third quarter, reaching its lowest level in a decade due to subdued demand for major brands like Apple and Samsung, which could impact upcoming earnings; however, there is hope that the market could recover in the last few months of the year with the release of the iPhone 15 lineup and the festive season in various regions.
The global smartphone market contracted by 8% in the third quarter, reaching the lowest level in a decade, as demand for major brands like Apple and Samsung decreased in developed markets, according to data from Counterpoint Research.
Italy's government has announced its budget for 2024, which includes tax cuts and increased spending to support large families, decrease payroll contributions, and bolster public services, but it will require additional borrowing and faces criticism for potentially pandering to voters.
Gold's recent rally and its ability to perform well during times of uncertainty make it a valuable asset for investors, according to a panel discussion at the London Bullion Market Association's Global Metals Conference. Despite potential headwinds, the panelists agreed that gold should be a part of investors' portfolios.
California's employment situation is showing signs of cooling, with a decrease in hiring and an increase in firings, but it is still better than the worst times of the Great Recession and has improved from last year, indicating a relatively stable job market.
Conflicts in the Middle East, such as the Hamas/ Israel conflict, can have a significant impact on global financial markets, particularly on the S&P 500, due to disruptions in oil supplies and trade routes, but historical data suggests that these conflicts are not necessarily bearish for the stock market.
Among the 10 most-shorted stocks, heavily shorted stocks like VinFast Auto, Soleno Therapeutics, and Faraday Future Intelligent Electric are experiencing significant rallies in 2023, but they also face challenges due to weak fundamentals and doubts about their futures.
Italy's far-right leader Giorgia Meloni has revealed her plans for the 2024 budget, which includes around €24 billion in new measures to support struggling households and businesses, as well as providing assistance for women returning to work after having children, despite concerns over the country's economic outlook and increased borrowing costs.
This article highlights the benefits of using a 5-minute bar chart for Comex gold futures as a valuable analytical and trading tool for active intra-day gold futures traders, providing key short-term moving averages and technical support and resistance levels for potential buy and sell signals.
Investors are growing concerned that the S&P 500 in 2023 is displaying similarities to the pattern preceding the 1987 crash, such as a strong start to the year, a sell-off in the third quarter, rising interest rates, underperformance by rate-sensitive sectors, and a strong dollar; however, experts believe there are enough differences between the two periods to suggest that a crash-like event is unlikely.
Bitcoin futures prices are higher in early U.S. trading, with bulls and bears on a level playing field and the next direction of trend to be determined by a breakout above the resistance line or below the support line.
Battery-electric vehicles accounted for 7.9% of all new cars sold in the U.S. during the third quarter, with over 300,000 EVs sold, reflecting a 49.8% increase from the same period in 2021.
Hexagon Purus is expanding its product offerings beyond hydrogen tanks to serve multiple clean technology industries, with manufacturing facilities opening in North America, Europe, and China, and contracts secured with companies such as Hino Trucks and Nikola Corporation.
In September 2023, eight companies joined The Crunchbase Unicorn Board, adding over $15 billion in value, while Instacart and Klaviyo became the first major venture-backed startups to go public since 2021, although both companies are currently valued below their IPO price in the current high interest rate environment.
Base metals rise and gold settles as market focus shifts to events in the Middle East.
Stratis (STRAX), Band Protocol (BAND), and Bitcoin SV (BSV) are the top cryptocurrency gainers, with STRAX reaching a new yearly high, BAND clearing long-term resistance, and BSV approaching a key resistance level.
UBS advises investors to focus on bonds rather than stocks, predicting that the 10-year US Treasury yield will drop to 3.5% by mid-2024 due to slowing growth and the Federal Reserve's easing of policy, offering bondholders returns of around 13%.
Investment bank Morgan Stanley is reportedly bidding to buy around 1,000 distressed pubs from Stonegate Group, which is looking to offload a quarter of its pubs to address its mountain of debt.
Apple's stock fell after reports indicated that Huawei is gaining a larger share of the Chinese market, with the new iPhone 15 facing challenges in sales compared to its predecessor.