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Bitcoin rises up to 3%, Ripple Unveils RLUSD Stablecoin, and More in Crypto
Bitcoin above $69,000 after a drop in the US Consumer Price Index (CPI) The price of Bitcoin (COIN:BTCUSD) reached a peak of $70,032, trading 2.9% higher at $69,302 in the past 24 hours, following the release of the May Consumer Price Index (CPI) data in the US, which indicated a slight reduction in inflation. The…
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U.S. Consumer Prices Surprisingly Flat, Annual Rate Of Consumer Price Growth Slowed
With a steep drop in gasoline prices partly offsetting a continued increase in shelter prices, the Labor Department released a report on Wednesday showing U.S. consumer prices were unexpectedly flat in the month of May. The Labor Department said its consumer price index came in unchanged in May after rising by 0.3 percent in April.…
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Tamer Than Expected Inflation Data May Spark Early Rally On Wall Street
The major U.S. index futures are currently pointing to a notably higher open on Wednesday, with stocks likely to see initial strength amid a positive reaction to a closely watched report on consumer price inflation. The futures surged following the release of a Labor Department report showing U.S. consumer prices were unexpectedly flat in the…
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Paramount Ends Skydance Talks, Oracle Shares Surge 8.7% on New Partnerships, and More News
Paramount Global (NASDAQ:PARA) – National Amusements ended negotiations with Skydance for a merger with Paramount Global, with terms not agreed upon. The dispute involved share control and finances. Continuing current operations without significant changes is unsustainable, pressuring Redstone to find another sale offer. Meanwhile, Paramount outlined a plan to reduce debt and seek streaming partnerships,…
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U.S. Futures Rise on Fed Decision; Oil Gains on Demand Forecasts
U.S. index futures are trading slightly higher in pre-market on Monday, amidst anticipation of the Fed’s decision on interest rates and Jerome Powell’s press conference, along with consumer inflation data for May. At 6:40 AM, Dow Jones (DOWI:DJI) futures rose 27 points, or 0.07%. S&P 500 futures advanced 0.12%, and Nasdaq-100 futures gained 0.14%. The…
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Nasdaq, S&P 500 Recover From Early Weakness To Reach Record Highs
The major U.S. stock indexes all moved to the downside in early trading on Tuesday but turned mixed over the course of the session. While the Nasdaq (NASDAQI:COMP) and the S&P 500 (SPI:SP500) recovered from the early weakness to reach new record closing highs, the narrower Dow (DOWI:DJI) climbed off its worst levels but spent…
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Crypto: SushiSwap Launches Sushi Labs with New Council Structure, PancakeSwap Introduces Gas-Free Transactions
SushiSwap innovates with council structure in its new phase, Sushi Labs The decentralized exchange SushiSwap (COIN:SUSHIUSD) has announced the transition of its management to a new format called Sushi Labs. Replacing the DAO model, the new system adopts a council structure to streamline decision-making and improve market responsiveness. Launched on June 11, Sushi Labs will…
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U.S. Stocks May Move Back To The Downside In Early Trading
The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to move back to the downside after ending the previous session modestly higher. Traders may look to cash in on yesterday’s slim gains, which lifted the Nasdaq and the S&P 500 to new record closing highs. Overall trading…
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FDA Panel Supports Eli Lilly’s Donanemab, Rio Tinto Expands Stake in Boyne Smelters, and More News
Eli Lilly (NYSE:LLY) – Eli Lilly’s experimental Alzheimer’s drug, donanemab, has received backing from a U.S. FDA advisory panel. The advisors voted unanimously in favor of the efficacy and benefits of donanemab for patients with early-stage Alzheimer’s, despite concerns about side effects. The potential approval could offer a new treatment option, although competition with Biogen’s…
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U.S. Index Futures Fall Ahead of Federal Reserve Policy Meeting, Crude Oil Prices Decline
U.S. index futures are falling in pre-market trading this Monday, amid anticipation for the Federal Reserve’s two-day monetary policy meeting, which begins today. As of 6:36 AM, Dow Jones futures (DOWI:DJI) fell 133 points, or 0.34%. S&P 500 futures declined 0.25%, and Nasdaq-100 futures lost 0.27%. The yield on the 10-year Treasury note stood at…