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Futures Pointing To Initial Pullback On Wall Street
The major U.S. index futures are currently pointing to a lower open on Monday, with stocks likely to give back ground following the strong upward move seen last Friday. Profit taking may contribute to initial weakness on Wall Street, as some traders look to cash in on the strong gains posted in the previous session.…
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U.S. Stock Futures Dip on Global Tensions; Oil Prices Rebound
U.S. index futures edged down slightly in pre-market trading on Monday, with investors focused on international tensions, the Federal Reserve’s meeting minutes, the Consumer Price Index report, and the start of the corporate earnings season this week. At 05:03 AM, Dow Jones futures (DOWI:DJI) fell 176 points or 0.41%. S&P 500 futures lost 0.53%, and…
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Starboard Acquires $1 Billion Stake in Pfizer; Rio Tinto Pursues Acquisition of Arcadium Lithium, and More
Pfizer (NYSE:PFE) – Activist investor Starboard Value acquired about $1 billion in Pfizer shares, seeking changes to improve performance. Former CEO Ian Read and former CFO Frank D’Amelio showed interest in supporting Starboard, according to Reuters. Pfizer is facing a significant decline in COVID-19 vaccine and drug sales, leading to a stock drop. Shares rose…
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Stocks Climb Higher On Upbeat Jobs Data; Dow Hits New Record Closing High
U.S. stocks rallied on Friday, lifting the major averages to a firm close, as upbeat non-farm payroll data helped offset concerns about Middle East tensions and prompted investors to indulge in some brisk buying at several counters from across various sectors. The Dow (DOWI:DJI) settled at a fresh record high at 42,352.75, gaining 341.16 points…
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Bitcoin Surges on Positive Jobs Data; Coinbase to Delist Unlicensed Stablecoins in EU; Bitwise Launches BITC
Bitcoin reacts positively to US employment data Bitcoin (COIN:BTCUSD) rose about 2.3% on October 4, reaching an intraday high of $62,348.87 after US employment data exceeded expectations. 254,000 non-farm jobs were added in September, compared to the forecast of 147,000. The market responded optimistically, with both the S&P 500 and Nasdaq also rising. Inflation data…
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U.S. Employment Up More Than Expected
A closely watched report released by the Labor Department on Friday showed employment in the U.S. increased by much more than expected in the month of September. The Labor Department said non-farm payroll employment jumped by 254,000 jobs in September after climbing by an upwardly revised 159,000 jobs in August. Economists had expected employment to…
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Upbeat Jobs Data May Contribute To Initial Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to move to the upside after showing a lack of direction over the two previous sessions. The futures climbed more firmly into positive territory following the release of a closely watched Labor Department repot showing much stronger than…
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U.S. Stocks Continue To Experience Choppy Trading Before Closing Modestly Lower
Following the lackluster performance seen during trading on Wednesday, stocks continued to experience choppy trading during Thursday’s session. The major averages once again spent the day bouncing back and forth across the unchanged line. The major averages eventually finished the day modestly lower. While the Nasdaq edged down 6.65 points or less than a tenth…
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Grayscale Launches Aave Fund; XRP Falls After SEC Appeal; Bitcoin ETFs See $52.9M in Outflows
Grayscale launches fund focused on Aave, boosting token Grayscale launched the Grayscale Aave Trust, a fund dedicated to the DeFi protocol Aave, providing exposure to the AAVE token (COIN:AAVEUSD) without needing direct purchase. Following the announcement, the AAVE token reached $143.51, despite a 15.3% drop the previous week. The Trust holds $150,000 in assets and…
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Levi Strauss, Wolfspeed Under Pressure; EVgo Soaring
Shares of Levi Strauss (NYSE:LEVI) are moving sharply lower in pre-market trading after the clothing company reported weaker than expected fiscal third quarter revenue and lowered its full-year revenue guidance. Chipmaker Wolfspeed (NYSE:WOLF) may also come under pressure after Mizuho downgraded its rating on the company’s stock to Underperform from Neutral. Meanwhile, shares of EVgo…