ADVFN US – Market Content Editor
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U.S. Stocks Close Little Changed But Post Strong Weekly Gains
Stocks saw modest weakness throughout much of the trading session on Friday but recovered to end the day roughly flat. The tech-heavy Nasdaq bounced back and forth across the unchanged line before eventually ending the session at a record closing high. While the Nasdaq (NASDAQI:COMP) crept up 21.32 points or 0.1 percent to 17,688.88, the…
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Miners’ Selling Trends, Bernstein’s Stellar Bitcoin Price Projections, and More in Crypto
Bitcoin recovers slightly; hash rate drop indicates possible miner capitulation After a negative day for the crypto sector, Bitcoin (COIN:BTCUSD) recovered by 0.60% on Friday morning, priced at $67,122.71 in the last 24 hours. Regarding the recent dynamics in the Bitcoin mining market, the hash rate has dropped to around 600 exahashes per second, suggesting…
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Import and Export Prices Down Unexpectedly
A report released by the Labor Department on Friday showed unexpected decreases by U.S. import and export prices in the month of May. The Labor Department said import prices fell by 0.4 percent in May following a 0.9 percent advance in April. Economists had expected import prices to inch up by 0.1 percent. Prices for…
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Profit Taking May Contribute To Initial Pullback On Wall Street
The major U.S. index futures are currently pointing to a lower open on Friday, with stocks likely to give back ground after ending yesterday’s choppy trading session mostly higher. Profit taking may contribute to initial weakness on Wall Street after the Nasdaq and the S&P 500 ended the previous session at new record closing highs.…
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Adobe Soars 15% Pre-Market; Visa and Mastercard Encounter Hurdles in $30 Billion Agreement, and More
Adobe (NASDAQ:ADBE) – Adobe exceeded expectations in the last quarter with revenue of $5.31 billion, above analysts’ consensus polled by FactSet of $5.29 billion. Adjusted earnings were $4.48 per share, surpassing estimates of $4.39. The company raised its revenue outlook to $21.4 billion to $21.5 billion and adjusted earnings to $18 to $18.20 per share…
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U.S. Index Futures Decline in Pre-Market Trading as Treasury Yields Drop; Oil Prices Eye First Weekly Gain in a Month
U.S. index futures fell in pre-market trading this Friday, following the record closes of the S&P 500 and Nasdaq, driven by the recovery in the technology sector. Treasury yields are down, reflecting expectations that the Federal Reserve might cut interest rates later this year, in response to signs of disinflation. At 6:38 AM, Dow Jones…
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Nasdaq, S&P 500 Finish Choppy Trading Session At New Record Highs
Stocks turned in a relatively lackluster performance during trading on Thursday, as traders took a breather following the rally seen in the previous session. Despite the choppy trading, the Nasdaq (NASDAQI:COMP) and the S&P 500 (SPI:SP500) once again reached new record closing highs. The Nasdaq climbed 59.12 points or 0.3 percent to 17,667.56 and the…
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Gary Gensler Predicts ETH ETFs Approval by September, CRV Token Plummets, and Latest Crypto News
Founder of Curve Finance faces liquidation after CRV token drop Michael Egorov, the founder of Curve Finance (COIN:CRVUSD), faced liquidation after the CRV token hit an all-time low of $0.22. Approximately 100 million CRV were liquidated, totaling $27 million, but Egorov still holds 39.35 million CRV securely. This situation triggered widespread liquidations, causing concern among…
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First-Time U.S. Unemployment Benefit Claims Unexpectedly Rise
The Labor Department released a report on Thursday showing an unexpected increase by first-time claims for U.S. unemployment benefits in the week ended June 8th. The report said initial jobless claims climbed to 242,000, an increase of 13,000 from the previous week’s unrevised level of 229,000. Economists had expected jobless claims to edge down to…
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Futures Pointing To Continued Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to see further upside after ending the previous session sharply higher. While the Federal Reserve lowered its forecast for interest rate cuts this year on Wednesday, stocks may continue to benefit from optimism about the outlook for rates…