Category: Latest News
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Tamer-Than-Expected Inflation Data Leads To New Record Highs On Wall Street
With traders reacting positively to closely watched consumer price inflation data, stocks moved sharply higher during trading on Wednesday. The major averages added to Tuesday’s gains, setting new record closing highs. The major averages saw further upside late in the session, reaching new highs for the day. The tech-heavy Nasdaq (NASDAQI:COMP) surged 231.21 points or…
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Bitcoin Hits $65,000 with US Inflation Drop, Circle Plans Move to US, and More Crypto News
Circle plans relocation to the US, potentially eyeing IPO The issuer of the stablecoin Circle (COIN:USDCUSD) is planning to move its legal base from Ireland to the United States, a surprising move given the tax benefits in Ireland, as reported by Bloomberg on May 15. The company has already started the necessary legal process in…
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Consumer Prices Up Less Than Expected, Retail Sales Flat
A highly anticipated report released by the Labor Department on Wednesday showed consumer prices in the U.S. rose by slightly less than expected in the month of April. The Labor Department said its consumer price index increased by 0.3 percent in April after rising by 0.4 percent in March. Economists had expected consumer prices to…
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Futures Jump Following Tamer-Than-Expected Consumer Price Inflation Data
The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to extend the upward move seen over the course of the previous session. The futures had been indicating a roughly flat open but jumped into positive territory following the release of a highly anticipated Labor Department report showing…
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U.S. Index Futures Flat Ahead of April CPI Data Release, Oil Prices Drop
U.S. index futures are virtually flat in pre-market trading this Wednesday, with Wall Street awaiting April’s consumer price index data. At 7:18 AM, Dow Jones futures (DOWI:DJI) were up 3 points, or +0.01%. S&P 500 futures rose 0.03%, and Nasdaq-100 futures lost 0.02%. The 10-year Treasury yield stood at 4.41%. In the commodities market, West…
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Nike Cuts Jobs at Converse, Ilya Sutskever Departs from OpenAI, WBD Increases Buyback Offer, and More News
Nike (NYSE:NKE) – Converse, a Nike subsidiary, will cut jobs as part of its ongoing $2 billion cost reduction plan. Nike, affected by cautious consumer spending, will reduce product supply and management layers, along with facing job cuts in its operations. OpenAI – Ilya Sutskever, co-founder and chief scientist of OpenAI, is leaving the company…
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DLocal Plunges 26.7% After Earnings Report, Nextracker Soars with Impressive Numbers, and More in Earnings News
dLocal (NASDAQ:DLO) – The shares of dLocal dropped 26.7% in pre-market trading after announcing earnings of 6 cents per share, with total revenue of $184.4 million. Analysts’ expectations, according to FactSet, were for earnings of 12 cents per share, with revenue reaching $189.8 million. Nextracker (NASDAQ:NXT) – The shares of Nextracker rose 13.9% in pre-market…
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U.S. Stocks Close Mostly Higher After Choppy Trading Session
Stocks fluctuated over the course of the trading session on Tuesday before eventually ending the day mostly higher. The major averages all moved to the upside, with the Dow bouncing back after snapping an eight-day winning streak on Monday. The tech-heavy Nasdaq (NASDAQI:COMP) led the way higher, advancing 122.94 points or 0.8 percent to a…
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Buterin Proposes New Ethereum Fee Model, Unofficial Gamestop Memecoin Soars, and More Crypto News
Unofficial Gamestop memecoin reaches $100 million market cap The memecoin Gamestop.Finance, an unofficial parody on Solana based on GameStop (NYSE:GME), briefly hit a $100 million market cap due to a trading frenzy, reaching a peak of $0.01449. At the time of writing, GME has increased by 2,109% in a week and is trading at $0.01234,…
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Producer Prices Up More Than Expected, Led By Services Prices
Producer prices in the U.S. increased by more than expected in the month of April, according to a report released by the Labor Department on Tuesday. The Labor Department said its producer price index for final demand climbed by 0.5 percent in April after a revised 0.1 percent dip in March. Economists had expected producer…