Category: Latest News
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XRP Tests RLUSD; Jesse Pollak Takes Over Base & Coinbase Wallet; Changpeng Zhao Released
XRP sees increased interest with RLUSD stablecoin tests Open interest in XRP derivative contracts has recently surged, driven by the testing phase of RLUSD, a Ripple Labs stablecoin. Significant RLUSD minting signals development progress, sparking speculation on social media. XRP (COIN:XRPUSD) rose 3.3% over seven days. Trading volumes soared, with Binance and Bybit accounting for…
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Ford, Google Strong; HP Weak
Shares of Ford (NYSE:F) are seeing notable pre-market strength after Goldman Sachs upgraded its rating on the automaker’s stock to Buy from Neutral. Google parent Alphabet (NASDAQ:GOOGL) may also move to the upside after Pivotal initiated coverage of the company’s stock with a Buy rating. On the other hand, shares of HP Inc. (NYSE:HPQ) may…
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Manufacturing Activity, Construction Spending Reports Due
At 10 am ET, the Institute for Supply Management is scheduled to release its report on manufacturing activity in the month of September. The ISM’s manufacturing PMI is expected to inch up to 47.5 in September from 47.2 in August, but a reading below 50 would still indicate contraction. The Labor Department is also due…
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Futures Pointing To Roughly Flat Open On Wall Street
The major U.S. index futures are currently pointing to a roughly flat open on Tuesday, with stocks likely to show a lack of direction after ending Monday’s choppy trading session mostly higher. Uncertainty about the near-term outlook for the markets may keep some traders on the sidelines following a strong September, which is historically a…
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U.S. Stocks Finish Choppy Trading Day Mostly Higher
Stocks showed a lack of direction over the course of the trading session on Monday before eventually ending the day mostly higher. The major averages all finished the day in positive territory following the mixed performance seen last Friday. The Dow (DOWI:DJI) inched up 17.15 points or less than a tenth of a percent to…
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Bitcoin Defies Historic Lows With September Rally; Bithumb Plans IPO; Matrixport Acquires Crypto Finance
Bitcoin falls on Monday but maintains positive performance for the month Bitcoin (COIN:BTCUSD) and related stocks, such as Coinbase Global (NASDAQ:COIN) and MicroStrategy (NASDAQ:MSTR), are down on Monday. After reaching a high of $66,566.28 last week, Bitcoin is down 3.3% at the time of writing, sitting at $63,450. The drop was triggered by several factors.…
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Nio, CVS Health Should Rise; Stellantis Weak
U.S.-listed shares of Nio (NYSE:NIO) are moving sharply higher in pre-market trading after the Chinese electric vehicle maker announced a 13.3 billion yuan investment in Nio China from strategic investors. Healthcare company CVS Health (NYSE:CVS) may also see initial strength after a report from the Wall Street Journal said hedge fund Glenview Capital Management will…
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Middle East Tensions, Profit Taking May Weigh On Wall Street
The major U.S. index futures are currently pointing to a modestly lower open on Monday, with stocks likely to move to the downside following the mixed performance seen last Friday. Concerns about rising Middle East tensions may weigh on Wall Street after Israel launched deadly airstrikes on targets in the heart of Lebanon’s capital Beirut…
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Dow Reaches Record Closing High But Nasdaq, S&P 500 Give Back Ground
Stocks turned in a mixed performance during trading on Friday, with the major averages ending the day on opposite sides of the unchanged line. The Dow rose to a new record closing high, but the Nasdaq and the S&P 500 gave back ground. While the Dow pulled back well off its highs of the session,…
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Bitcoin Surges as US PCE Drops; MicroStrategy ETFs See Rising Investor Demand, and Latest in Crypto
Bitcoin reacts to PCE data Bitcoin (COIN:BTCUSD) reached an intraday high of $66,550 on Friday and is currently trading at $65,566, a 0.6% increase over the past 24 hours. This rise followed the release of U.S. inflation data, with the Personal Consumption Expenditures (PCE) index, the Federal Reserve’s preferred measure, dropping to 2.2% in August,…