A Li Xiang One hybrid SUV is on display during the 18th Guangzhou International Automobile Exhibition on November 23, 2020 in Guangzhou, China. Li Zhihao | Visual China Group | Getty Images BEIJING — Nasdaq-listed Chinese automaker Li Auto forecast deliveries below that of its competitors for the first quarter. Li Auto said late Thursday
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Nurses display a ‘Stay Home’ sign on their vehicle during a car caravan of nurses calling for people to remain home amid a surge of COVID-19 cases in El Paso on November 16, 2020 in El Paso, Texas. Mario Tama | Getty Images A federal judge in Texas ruled on Thursday evening that the national
Take a look at some of the biggest movers in the premarket: Foot Locker (FL) – Foot Locker shares tanked 12.1% in premarket trading after quarterly revenue came in below Street forecasts and comparable-store sales unexpectedly declined. The athletic apparel and footwear retailer also reported quarterly profit of $1.55 per share, beating consensus by 20
Brian Armstrong, co-founder and chief executive officer of Coinbase Inc. David Paul Morris | Bloomberg | Getty Images Coinbase isn’t just enabling the trading of a bunch of bitcoin – it’s holding cryptocurrencies on its books. In the company’s prospectus for public market investors filed on Thursday, Coinbase disclosed ownership of $316.1 million worth of
Bonds have been shunned by many investors as rock-bottom rates made them unattractive relative to equities. On Thursday, the bond market may have gained an upper hand in the eyes of some investors. The 10-year Treasury yield soared more than 16 basis points to a high of 1.614%, its highest level since February 2020. The
Take a look at some of the biggest movers in the premarket: GameStop (GME) – GameStop remains on watch after another Reddit-fueled surge Wednesday in the video game retailer’s shares, as well as other so-called “Reddit stocks” like BlackBerry (BB), AMC Entertainment (AMC) and Koss Corp. (KOSS). GameStop surged 55.8% premarket, while AMC rose 12.9%,
U.S. stock index futures moved higher in overnight trading on Wednesday after the Dow closed at a record level during normal trading hours. Futures contracts tied to the Dow Jones Industrial Average gained 60 points. S&P 500 futures were up 0.10%, while Nasdaq 100 futures advanced 0.08%. The move comes after the Dow jumped 425
The Federal Reserve’s system that allows financial institutions to send money back and forth electronically went down Wednesday afternoon. The interruption impacted multiple Fed services, including its pivotal automated clearinghouse system, which connects depository and related institutions send electronic credit and debt transfers. Along with the Fed ACH service, other systems impacted included the Check
Bitcoin virtual crypto currency price is displayed on a phone screen in this photo. STR | NurPhoto | Getty Images Bitcoin’s price roared back Wednesday after a sharp sell-off, climbing above $50,000 again as Square announced it had purchased $170 million worth of the cryptocurrency. At 4 a.m. ET, the world’s most valuable digital coin
Costfoto | Barcroft Media | Getty Images Bitcoin’s price descended further on Tuesday after U.S. Treasury Secretary Janet Yellen issued a warning about the cryptocurrency. The world’s most valuable digital coin plunged 16% in the last 24 hours, sinking below $50,000 to trade as low as $45,389 at 4:10 a.m. ET, according to data from
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase on Tuesday announced its latest round of initiatives to support banks and credit unions that are primarily owned or directed by people of color, as well as banking institutions that work with underserved communities. It’s part
A Tesla car in London. SOPA Images | LightRocket | Getty Images Tesla’s recent slide continued on Tuesday, as investors rotated out of high-flying tech names. Shares of the electric vehicle maker dipped 6% during premarket trading on Tuesday, after losing 8.55% on Monday for its biggest daily loss since Sept. Tesla is the poster
HSBC building in the Canary Wharf district of London, U.K. Leon Neal | AFP | Getty Images HSBC is due to report financial results for 2020 on Tuesday, during which the bank is expected to update investors on its business restructuring plans and whether it would resume dividend payments. Like many of its peers globally,
Pavlo Gonchar | LightRocket | Getty Images Hedge funds are still licking their wounds after a retail trading frenzy forced the industry to slash its overall exposure to stocks, leading to an underperformance in 2021. Last month, an army of retail investors who coordinated on social media managed to push GameStop shares up 400% in
Chinese Foreign Minister Wang Yi speaks at a news conference after restoring diplomatic ties with Kiribati on the sidelines of the United Nations General Assembly in New York, U.S. September 27, 2019. Mark Kauzlarich | Reuters BEIJING — China’s Foreign Minister Wang Yi on Monday called on the new U.S. administration to stop the “suppression”
National Securities’ Art Hogan believes inflation won’t spell trouble for Wall Street this year. He acknowledges rising Treasury yields typically put pressure on future growth. But in this case, Hogan sees an epic corporate earnings comeback mitigating the impact. “We’re going to see an explosion of economic activity,” the firm’s chief market strategist told CNBC’s “Trading
Mark Makela | Getty Images News | Getty Images Americans may get another dose of extra unemployment benefits — and policymakers are debating the best way to deliver them. A host of lawmakers and economists want to put the aid on autopilot, phasing out supplemental benefits gradually rather than shutting them off on a specific
The Reddit and YouTube trading star known as “Roaring Kitty” defended his social media posts that helped spark a mania in GameStop shares last month in testimony released Wednesday, saying he was an individual investor acting only on publicly available information. The trader, whose real name is Keith Gill, is set to testify Thursday before
Samuel Corum/Bloomberg via Getty Images Many Americans will get an unwelcome surprise this tax season: the realization they were victims of unemployment fraud. Millions of workers have collected jobless benefits during the Covid pandemic. They must pay taxes on that aid. But criminals have stolen identities en masse to collect benefits in others’ names, according
The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland Januar 22, 2020. Arnd Wiegmann | Reuters Check out the companies making headlines in midday trading. Applied Materials — Shares of the chipmaker jumped more than 7% after Applied Materials beat estimates during the fourth quarter and issued upbeat comments for the