Illustration: Westend61 (Getty Images) After days of tumultuous trading, Bitcoin finally reached $65,000 Friday morning, thanks to its big halving event. The jump in Bitcoin price is a relief for investors as giant banks such as JPMorgan and Goldman Sachs were less confident about the top cryptocurrency in their recent reports. TSMC beat on Q2
Bitcoin is getting jittery before the big ‘halving’ event scheduled for Friday. The top cryptocurrency fell to $59,900 on Wednesday for the first time since early March, almost 17% below its all-time high. Could Middle East tension escalate oil prices? Many of the other major cryptocurrencies also dropped Wednesday, including the second-largest, Ether, which has gone
Wall Street is surging again. This time, bank executives say it’s for real. Bank of America (BAC), Goldman Sachs (GS), Citigroup (C), Morgan Stanley (MS) and JPMorgan Chase (JPM) all reported first-quarter jumps in investment banking. They did so because initial public offerings, bond issuances and in some cases M&A deal making beat analyst expectations.
By Tatiana Bautzer and Manya Saini (Reuters) -Morgan Stanley’s first-quarter profit beat estimates on Tuesday, fueled by a resurgence in investment banking and growth in wealth management, sending shares up 3.7%. Investment banking revenue climbed 16% from a year earlier. Fixed-income underwriting did well for a second quarter in row, driven by higher bond issuance.
The business of banking has become tougher in the last few years. Rising interest rates mean banks have to pay depositors more interest, and many banks have a lot of risky loans on their balance sheets — especially commercial real estate loans. But big banks have other lines of business that’ve been doing well lately.
By Carolina Mandl NEW YORK (Reuters) – Trend-following hedge funds could sell between $20 billion and $42 billion in U.S. equities over the next month if the stock market continues to retreat, a Goldman Sachs note shows. Also known as CTAs (commodity trading advisers), trend-following hedge funds trade systematically to catch big trends in markets.
A second activist investor is targeting legal software provider Dye & Durham Ltd. The Toronto company said Monday it had received notice from Blacksheep Fund Management that the Irish hedge fund may nominate its chief investment officer to join D&D’s seven-person board at its next scheduled shareholder meeting Aug. 20. That meeting was called after
City of London British businesses risk being starved of investment as pension funds sell off assets to meet a wave of retirement claims, Goldman Sachs has warned. Analysts at the Wall Street bank have sounded the alarm over investment levels flatlining in the UK after research found final salary schemes are selling almost as many
US stock futures rose Monday as worries over the fallout from Iran’s attack on Israel eased, allowing focus to return to earnings season and inflation risks to rate-cut hopes. S&P 500 (^GSPC) futures added 0.4%, while Dow Jones Industrial Average (^DJI) moved up roughly 0.3% after ending the week with sharp losses. The tech-heavy Nasdaq
Lucky-photographer/Shutterstock The US stock market will rally further from recent all-time highs, Goldman Sachs’ John Flood says. Market tailwinds and seasonality suggest more opportunities ahead, with bullish sentiment not yet at its peak. Retail investors often offload stocks to cover taxes, causing market dips on Tax Day, with subsequent rebounds. This year’s stock rally has