Category: Latest News
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BTC Surpasses $56K, Core Scientific’s Extended Deal with CoreWeave, Ronin Network Halts After MEV Exploit, and More
Bitcoin surpasses $56,000 in market recovery Bitcoin (COIN:BTCUSD) started at $54,169.74 and rose to $56,496, recovering from Monday’s sell-off. Fernando Pereira, a Bitget analyst, noted that the price remains within a downtrend channel since March. The recent rise is linked to the price being at the support point of this channel, possibly attracting significant buying…
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U.S. Trade Deficit Narrowed
Reflecting a sharp increase in the value of exports, the Commerce Department released a report on Tuesday showing the U.S. trade deficit narrowed in the month of June. The Commerce Department said the trade deficit shrank to $73.1 billion in June from a revised $75.0 billion in May. Economists had expected the trade deficit to…
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Bargain Hunting May Contribute To Early Rebound On Wall Street
The major U.S. index futures are currently pointing to a higher open on Tuesday, with stocks likely to regain ground after moving sharply lower over the past few sessions. Bargain hunting may contribute to early strength on Wall Street, as some traders look to pick up stocks at relatively reduced levels. The sell-off seen in…
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US Index Futures Rise After Market Sell-off, Oil Prices Trim Losses
US index futures rose in pre-market trading on Tuesday, signaling a recovery after one of the worst days for markets in nearly two years. Earnings season continues, with Palantir (NYSE:PLTR) and Lucid Group (NASDAQ:LCID) showing strong pre-market performances, partially easing the negative sentiment. At 4:37 AM, Dow Jones futures (DOWI:DJI) rose 195 points or 0.50%.…
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Palantir and Lucid Shares Surge After Beating Estimates; ZoomInfo and Chegg Drop 16% – Earnings Update
Palantir Technologies (NYSE:PLTR) – The AI software company reported $678 million in Q2 revenue, up 27% year-over-year, beating the $653 million estimate. Net income was $134 million, or 6 cents per share, compared to 1 cent the previous year. The annual revenue forecast increased to up to $2.75 billion. Shares rose 11.2% pre-market. Lucid Group…
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Google Faces Antitrust Ruling; SunPower Files for Bankruptcy and Business Sale – Latest Business News
SunPower (NASDAQ:SPWR) – SunPower filed for Chapter 11 bankruptcy in the US and sold part of its business to Complete Solaria for $45 million. Complete Solaria will acquire Blue Raven Solar, New Homes segments, and SunPower’s non-installing dealer network. The company listed its assets and liabilities between $1 billion and $10 billion and will continue…
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U.S. Stocks Move Sharply Lower Following Overseas Sell-Off
Stocks moved sharply lower during trading on Monday, extending the sell-off seen to close out the previous week. The major averages all showed significant declines, with the Nasdaq and the S&P 500 hitting three-month lows. The major averages ended the day off their lows of the session but still firmly negative. The Nasdaq (NASDAQI:COMP) plunged…
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Crypto Markets Plunge Amid Global Uncertainty, Bitcoin ETF Volume Surges, and Key Updates
Cryptocurrencies plunge amid recession fears and global tensions On Monday, Bitcoin (COIN:BTCUSD) dropped from $57,531.60 to $49,050, partially recovering to $53,799. Over $350 million in long positions were liquidated in two days, the highest value in four months. Ether hit a low of $2,112.00, the largest daily drop since 2021, recovering to $2,416.23. Other cryptocurrencies…
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U.S. Stocks May Extend Sell-Off Amid Overseas Weakness
The major U.S. index futures are currently pointing to a sharply lower open on Monday, with stocks likely to extend the sell-off seen over the two previous sessions. An overseas sell-off, which saw Japan’s Nikkei 225 Index record its biggest slump since “Black Monday” in October 1987, is likely to carry over on to Wall…
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U.S. Index Futures and Oil Prices Plunge on Recession Concerns
U.S. index futures fell sharply after a volatile week, with the Nasdaq Composite entering correction territory due to recession concerns and uncertainties about Federal Reserve actions. At 04:37 AM, Dow Jones futures (DOWI:DJI) dropped 607 points or 1.52%. S&P 500 futures lost 2.16%, and Nasdaq-100 futures declined 3.40%. The 10-year Treasury yield was at 3.761%.…