A visual representation of bitcoin with U.S. dollars. studioEAST | Getty Images Bitcoin briefly climbed above the $16,000 mark on Thursday, hitting a level not seen since January 2018. The cryptocurrency’s price rose as high as $16,019 just after 5 a.m. ET, according to data from industry site CoinDesk. It was last trading more than
Finance
Check out the companies making headlines before the bell: DraftKings (DKNG) – The mobile betting service reported a quarterly loss of 57 cents per share, smaller than the 61-cent loss that Wall Street had anticipated, while revenue was above analyst forecasts. DraftKings said it was helped by the resumption of activity by major sports leagues
Getty Images A research team at Deutsche Bank proposed that people pay a 5% tax for the “privilege” of working from home, if they continue to do so after the pandemic, as this could subsidize income lost by lower-earners due to the coronavirus crisis. Deutsche Bank strategist Luke Templeman said in the investment bank’s Konzept
John Stumpf, chief executive officer of Wells Fargo & Co., waits to begin a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 29, 2016. Andrew Harrer | Bloomberg | Getty Images Ex-Wells Fargo CEO John Stumpf and his former deputy Carrie Tolstedt were charged by the Securities and Exchange Commission Thursday
U.S. stock futures were flat on Thursday night as Wall Street continues to grapple with the rising number of coronavirus cases and its potential economic impact. Dow Jones Industrial Average futures traded 32 points higher, or 0.1%. S&P 500 futures fell marginally and Nasdaq 100 futures traded 0.1% higher. Earlier on Thursday, the Dow dropped
Judy Shelton appears now to have enough Republican support for her controversial nomination to the Federal Reserve’s board of governors to get through. Senate Majority Leader Mitch McConnell said Thursday he will advance Shelton’s name to the Senate floor after Sen. Lisa Murkowski (R-Alaska) told reporters she now will support the economic advisor to President
The logos of Amazon, Apple, Facebook and Google. Reuters Check out the companies making headlines in midday trading. Lyft — Shares of the ride hailing company rose more than 3% after executives said Lyft expects to become EBITDA profitable by the fourth quarter of 2021 even if there’s a slower than hoped-for recovery. The company
Jamie Grill | Blend Images | Getty Images Retirement savers appear to be taking advantage of relaxed rules around 401(k) withdrawals during the coronavirus pandemic. The typical 401(k) investor pulled $12,000 from their account in the form of a “coronavirus-related distribution,” according to a new Vanguard analysis of its client data. This figure represents the
Allianz Global Investors’ Mona Mahajan won’t rule out market consolidation over the next several weeks. But she’s painting a bullish long-term picture that’s chiefly tied to a key advancement on the coronavirus front. “We’ve had tremendous vaccine news,” the firm’s senior U.S. investment strategist told CNBC’s “Trading Nation” on Tuesday. Since yesterday’s encouraging vaccine announcement
U.S. equity futures were flat in overnight trading on Tuesday, amid this week’s rotation out of technology stocks into cyclical names. Dow futures dropped 40 points. S&P 500 futures and Nasdaq 100 futures fell 0.1% and 0.14%, respectively. On Tuesday, the Dow Jones Industrial Average climbed 262 points. Fueling the rally is the hopes of
President-elect Joe Biden on Nov. 9, 2020 at the Queen Theater in Wilmington, Delaware. Joe Raedle | Getty Images News | Getty Images Joe Biden’s presidency could have big implications for everyday Americans when it comes to financial protections. With Senate control still hanging in the balance, the extent to which the Biden administration will
People walk by the New York Stock Exchange. Spencer Platt | Getty Images Stock futures held steady in overnight trading on Monday following a record-setting rally sparked by promising news on a coronavirus vaccine. Futures on the Dow Jones Industrial Average dipped 20 points. S&P 500 futures fell 0.1% and Nasdaq 100 futures also traded
Stanley Druckenmiller Anjali Sundaram Billionaire investor Stanley Druckenmiller advised investors against being short the stock market as positive news on the coronavirus front has jolted a big rotation out of growth and into value names. “It’s nuanced, but there are a lot of companies that will be direct beneficiaries [from a coronavirus vaccine], and they
Democratic 2020 U.S. presidential nominee Joe Biden points a finger at his election rally, after news media announced that Biden has won the 2020 U.S. presidential election, in Wilmington, Delaware, U.S., November 7, 2020. Kevin Lemarque | Reuters Stocks were set to continue their big post-election rally as futures rose in overnight trading on Sunday.
Check out the companies making headlines in midday trading. Roku — Streaming platform Roku jumped 11% after the company reported a surprise adjusted profit for its third quarter. The company posted 9 cents in earnings per share on $452 million in revenue. Analysts had projected a loss of 40 cents per share and $366 million
SINGAPORE — A Biden administration will likely maintain a tough stance on China, but the U.S. rhetoric could soften — and that may help soothe market jitters, chief executive of a major Asian bank said on Thursday. The race to the White House remains too close to call but Democratic candidate Joe Biden appears closer
Omar Marques | LightRocket | Getty Images The U.S. government seized an unprecedented $1 billion worth of bitcoin linked to criminal marketplace, the Silk Road. Thousands of bitcoins were taken by law enforcement this week, in what the Justice Department said was the largest seizure of cryptocurrency in the history of the agency. “Silk Road
People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Jason Lee | Reuters BEIJING — Just days after the abrupt suspension of Ant Group’s IPO — which was set to be the world’s largest offering — China’s financial authorities emphasized the need to ensure sufficient
Wells Fargo Securities’ Christopher Harvey won’t buy the post-election bounce. “You want to fade this rally,” the firm’s head of equity strategy told CNBC’s “Trading Nation” on Wednesday. “It’s about stimulus. We now have — or what we believe we have — is [Joe] Biden as president and no longer a blue wave.” Harvey contends
Sales associates at one of Alibaba-owned InTime’s store display products for sale during a livestream. InTime | Alibaba BEIJING – The fickle Chinese consumer has latched onto a set of new preferences for watching videos, a trend investors and media giants are tapping into. Late on Thursday, short-video and livestreaming app Kuaishou filed for an