Markets in Asia apart from Shanghai’s were broadly higher Monday, shrugging off the blues on Wall Street after big technology stocks logged their worst week since the COVID crash in 2020. Oil prices fell while U.S. futures advanced. Hong Kong’s Hang Seng led the region, gaining 1.8% to 16,516.63. But the Shanghai Composite index shed
Netflix (NFLX) will stop reporting subscriber figures at the start of next year. That doesn’t sit well with Wall Street. The stock fell as much as 9% on Friday following the news, which was revealed as part of the company’s first quarter earnings report the day prior. It’s a surprising announcement, especially for an industry
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.
Cryptocurrencies were invented in the heat of the 2008-2009 financial crisis to provide an alternative to banks. The inventors of Bitcoin, who went by the pseudonym Satoshi Nakamoto, envisioned a financial system that didn’t depend on “trusted third parties” that they said couldn’t be trusted in the first place. Instead, it would use cryptography and
Wall Street is expecting a subdued earnings season from Corporate America despite the first-quarter’s stock market fireworks. Yes, the S&P 500 Index rose 10% from January to March. Strategists, however, predict that S&P 500 companies will post their smallest year-over-year profit growth since 2019, just 3.9%, in the first quarter, according to data compiled by Bloomberg Intelligence.
On Wall Street in the week ahead, investors’ major focus would be on inflation data for March and the minutes of the Federal Reserve’s March monetary policy meeting. Following last week’s strong jobs report that dented interest rate cut odds, investors will closely watch the consumer prices data and the Fed minutes for clues about
“Everyone, from the top brass to people like us in middle ranks, earn less than before,” said a credit manager with Bank of China, one of the country’s “big four” state-owned banks, lamenting the loss of the staggering bonuses that she used to bag in the industry’s heyday. China’s financial sector is always beholden to
Sometime between FTX’s collapse and Sam Bankman-Fried’s fraud conviction a year later, a consensus formed about the onetime boy genius of cryptocurrency: His wild, curly hair and beanbag chair naps at the office were largely for show, but his company FTX, which had been used by millions of people to buy and sell digital currencies,
US stocks moved higher on Tuesday as markets looked to continue a record-setting run that has become the story on Wall Street during the first quarter of the year. The S&P 500 (^GSPC) rose about 0.3%, while the Dow Jones Industrial Average (^DJI) edged higher by roughly 0.1%. The tech-heavy Nasdaq Composite (^IXIC) led the
US stock futures were pointing to a higher open Tuesday as stocks looked to continue a record-setting run that has become the story on Wall Street during the first quarter of the year. Futures on the S&P 500 (^GSPC) rose nearly 0.4%, while those tied to the Dow Jones Industrial Average (^DJI) edged higher by