The global cryptocurrency market lost over $300 billion last week and about $1.7 trillion in the past seven months. But the impact on U.S. household wealth, spending and the labor supply are likely to be limited, according to Goldman Sachs. The crypto market capitalization has plunged to around $1.3 trillion as of Thursday, from an
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Twitter (TWTR) stock traders are, understandably, obsessing over whether the company will go from publicly held to private. However, informed investors shouldn’t bury the real headline, which concerns Twitter’s daily active usage increase. Thus, investors should consider holding their Twitter shares while they’re still publicly traded. Source: shutterstock.com/khak There are a lot of shortages in the
Consumer stocks were hit hard on May 18 as disappointing earnings reports from Target Corp. and Walmart Inc. led to double-digit declines for many retailers. Market Snapshot: Dow skids 1,100 points and heads for worst day since June 2020 on stagflation fears, higher costs eroding profits Shares of Target TGT, -24.93% fell 25% after the
Black Rifle Coffee (BRCC) reported a big loss for the first quarter. The company is growing rapidly but came public at a bad time. Investors care more about Black Rifle delivering profit than politics. Source: rblfmr / Shutterstock I called Black Rifle Coffee (NASDAQ:BRCC) a “red state Starbucks (NASDAQ:SBUX)” in March and the company has
Under Armour Inc. announced Wednesday afternoon that its chief executive is stepping down, a little more than two years after he replaced the founder at the top of the athletic-gear company. Under Armour UA, -6.90% said that Patrik Frisk will step down June 1 and be replaced on an interim basis by Colin Browne, the
Wall Street often overshoots, so investors should know these ETFs to avoid. ProShares UltraShort 20+ Year Treasury (TBT): The Fed’s hawkish rhetoric is not permanent. Energy Select Sector SPDR Fund (XLE): The theme is long in the tooth. Financial Select Sector SPDR Fund (XLF): Could be collateral damage in the war on inflation. Source: shutterstock.com/bangoland
Tencent Holdings Ltd.’s revenue growth in the first quarter slowed to its weakest pace in nearly two decades, as China’s pandemic resurgence hit the Chinese social-media and videogame behemoth, which was already struggling with a yearlong regulatory crackdown. The world’s largest videogame developer said Wednesday that revenue edged 0.1% higher from a year earlier to
Airbnb (ABNB) stock lost almost a quarter of its value over the past two weeks Q1 results exceeded expectations, but the company faces tough comparables ahead ABNB stock is expensive and only suitable for the most optimistic investors Source: Tero Vesalainen / Shutterstock.com Like most of the rest of the market, shares of Airbnb (NASDAQ:ABNB)
Oil futures rose in electronic trade late Tuesday after a trade group reported a large drop in U.S. crude-oil and gasoline inventories. The American Petroleum Institute said U.S. crude-oil inventories fell 2.4 million barrels last week, while gasoline stocks fell by 5.1 million barrels, according to a source. Distillate inventories were seen up 1 million
SoFi Technologies (SOFI) is demonstrating leadership on analyst upgrade and 40% premium price target. Following mixed earnings release last week, investors are “over-discounting” a growth opportunity in SOFI stock. Shares of SOFI stock sets up nicely for buyers. Source: Michael Vi / Shutterstock Financial technology (fintech) firm SoFi Technologies (NASDAQ:SOFI) is bucking the market today.
Nestlé said Tuesday that it is rushing shipments of baby formulas to the U.S. to assist with a nationwide shortage that began late last year due to supply-chain disruptions. “We have significantly increased the amount of our infant formula available to consumers by ramping up production and accelerating general product availability to retailers and online,
These five upcoming initial public offerings (IPOS) are among the most promising ones to watch. They will make headlines and offer volatile stock trading with elevated valuations and risk. Reddit: Is the communities’ network that was at the center of meme trading. Discord: Provides a platform for people to communicate via voice, video and text
Hi, MarketWatchers. Don’t miss these top stories. Buffalo supermarket shooting made a ‘food desert’ in a Black neighborhood even worse Food deserts ‘exist for two reasons: economics and bias,’ an anti-hunger advocate said. Read More ‘Millions of families struggle to keep roofs over their heads’: Biden administration has a plan to tackle America’s housing shortage
The entire EV market is getting a boost today. From Rivian (NASDAQ:RIVN) to Tesla (NASDAQ:TSLA) to Lucid (NASDAQ:LCID), risk-on sentiment finally appears to be taking hold this Friday. Among the major electric vehicle (EV) makers that are seeing impressive increases, Lucid is a leader. On Friday, LCID stock soared more than 16% around noon EST as investors returned to
Wheat futures climbed by the daily limit on Monday, following India’s plans to limit most of its exports of the commodity, as fallout from the Ukraine war continues to reverberate. Soft red winter wheat for July delivery W00, +5.46% rose 62 cents, the normal daily price limit, to lock at $12.39 a bushel, a gain
Shares of Disney (NYSE:DIS) have been decimated, but that hardly makes it unique in a market like this. At this week’s low, DIS stock was down more than 50% from its all-time high. While the recent market pressure isn’t helping, earnings were the final catalyst to send it to new lows. The share price barely
The blood moon rises once again. Sky watchers in the eastern half of the U.S. are in for a treat this weekend thanks to a perfect storm of celestial events. May’s full “Flower Moon” will undergo a total lunar eclipse as it passes through the Earth’s shadow overnight Sunday into Monday on May 15 and
Warner Bros Discovery (NASDAQ:WBD), the new entertainment giant formed on April 8 from the combination of Discovery Inc. and WarnerMedia, is set to become the second-largest media player by revenue after Walt Disney (NYSE:DIS). Since the merger, WBD stock has dropped faster than the equity markets in general, losing more than 30% year-to-date, but it is rebounding
Markets are pointing higher for Friday, but it’s been a rough few days, with the S&P 500 facing a six-week losing streak, its longest in a decade. With a war raging in Europe, surging prices all over and uncertainty over what central banks can do about it, investors may not get that traditional lazy, hazy
By now, Spotify (NYSE:SPOT) investors know the story. SPOT stock is down 65% from its 52-week high; 55% in 2022 and 25% in the last month. It’s fair to say that taking profits from a stock that jumped 149% from its pandemic low is expected. However, the sell-off is now starting to look overdone. But