ADVFN US – Market Content Editor
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Bitcoin Holds $60K Support, Ether ETFs See Inflows, IREN Reports Record Mining Revenue
Bitcoin tests $60,000 support amid U.S. rate cut expectations On August 29, 2024, Bitcoin (COIN:BTCUSD) attempted to recover and maintain the $60,000 level after favorable U.S. macroeconomic data. Jobless claims and GDP were in line with expectations, fueling optimism for a potential 0.25% rate cut by the Federal Reserve in September. Analysts remain optimistic, predicting…
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U.S. Unemployment First Time Claims Slightly Down; Economy Grew By More Than Estimated
First-time claims for U.S. unemployment benefits edged slightly lower in the week ended August 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims slipped to 231,000, a decrease of 2,000 from the previous week’s revised level of 233,000. Economists had expected jobless claims to come in…
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Interest Rate Optimism May Overshadow Negative Reaction To Nvidia Results
The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to move back to the upside after ending the previous session mostly lower. Stocks may rebound following the tech-led weakness on Wednesday amid ongoing optimism about the outlook for interest rates. The Dow is likely to benefit from…
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U.S. Futures Rise; Oil Prices Dip Amid Libyan Supply Concerns and Inventory Drop
U.S. index futures rose in pre-market trading on Thursday as investors reacted to Nvidia’s earnings. Although the AI chip giant exceeded expectations in sales and profits, the market reaction was negative, reflecting disappointment with the growth magnitude, illustrating the pressure on high-tech companies to consistently surpass high expectations. Investors are also awaiting reports from major…
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Nvidia, HP, Okta, Pure Storage Drop Post-Earnings; Salesforce, Nutanix, Affirm Surge
Nvidia (NASDAQ:NVDA) – The leader in GPUs and artificial intelligence reported adjusted earnings per share of 68 cents, beating LSEG’s forecast of 64 cents. Revenue reached $30.04 billion, above the expected $28.7 billion. The company projects revenue of approximately $32.5 billion in the current quarter, exceeding StreetAccount’s estimate of $31.77 billion. Nvidia CEO Jensen Huang…
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Big Lots Falls 27%, Considers Bankruptcy; DraftKings Acquires Simplebet, Berkshire Hits $1 Trillion
Big Lots (NYSE:BIG) – Big Lots is considering filing for bankruptcy protection soon, according to Bloomberg. The company is seeking investors to avoid Chapter 11, with its stock falling 27% last week and nearly 88% this year. Big Lots is facing financial difficulties due to declining sales and high interest rates. The stock fell 26.9%…
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Nvidia Shares Fall Despite More Than Doubling Sales
Chip-maker Nvidia (NASDAQ:NVDA) announced record revenues of $30bn over a three-month period, but shares have fallen. The company has seen its stock market value rising to over $3 trillion thanks to the AI boom. Analysts had forecast sales growth for the company of $28.7bn for the three months to 28 July. It has surpassed this,…
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U.S. Stocks Move Mostly Lower Ahead Of Nvidia Earnings
Stocks moved mostly lower during trading on Wednesday, with weakness in the tech sector weighing on the broader markets. With the downward move on the day, the Dow pulled back off the record closing high set on Tuesday. The major averages climbed well off their worst levels in the latter part of the session but…
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Crypto.com and PayPal Partner Up, OpenSea Receives Wells Notice, Bitcoin ETFs Record Largest Monthly Outflow
Crypto.com and PayPal partner to facilitate crypto purchases Crypto.com and PayPal (NASDAQ:PYPL) have joined forces to allow U.S. users to fund cryptocurrency purchases through PayPal. With the new integration, it is possible to link wallets and easily transfer digital assets. PayPal can also be used to reload Crypto.com Visa cards. The collaboration comes as PayPal…
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Choppy Trading Likely To Persist On Wall Street Ahead Of Nvidia Earnings
The major U.S. index futures are currently pointing to a roughly flat open on Wednesday, with stocks likely to extend the lackluster performance seen in the previous session. Traders may continue to stick to the sidelines ahead of the release of fiscal second quarter results from market leader Nvidia (NASDAQ:NVDA) after the close of today’s…