ADVFN US – Market Content Editor
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Crypto Market Witnesses Largest Drop in 2024; Fox and Polygon Collaborate on Blockchain Authentication, and More News
Crypto market faces biggest drop of the year The cryptocurrency market recorded its largest annual drop of 7%, led by an 8% decline in Bitcoin (COIN:BTCUSD), which triggered a widespread downturn. Bitcoin fell from a peak of $73,000 to a minimum price of $65,879.74, being quoted down -4.9% at the time of writing at $67,918.65.…
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Import Prices Rose In Line With Estimates, Export Prices Also Up
A report released by the Labor Department on Friday showed import prices in the U.S. increased in line with economist estimates in the month of February. The Labor Department said import prices rose by 0.3 percent in February after climbing by 0.8 percent in January. The uptick matched expectations. Meanwhile, the report said export prices…
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U.S. Stocks May Lack Direction Ahead Of Next Week’s Fed Meeting
The major U.S. index futures are currently pointing to a roughly flat open on Friday, with stocks likely to show a lack of direction after ending the previous session mostly lower. Traders may be reluctant to make significant moves ahead of the Federal Reserve’s monetary policy meeting next week. While the Fed is widely expected…
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Pre-Market Optimism as Investors Eye Weekly Gains; Dip in Crude Oil Prices
U.S. index futures are trading higher in pre-market on Friday, following a previous session that ended lower, as the market reassesses expectations for Federal Reserve interest rate cuts in light of recent inflation data. Investors await further economic indicators, maintaining optimism for a slightly positive weekly close in the major indexes. At 07:05 AM, the…
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Adobe Stock Drops Following Below-Estimate Projections, Cardlytics Surges with Unexpected Profit, and More News
Adobe (NASDAQ:ADBE) – Adobe‘s shares fell approximately 11.65% in pre-market trading following a robust first fiscal report. Adobe reported an adjusted earnings per share of $4.48 on revenue of $5.18 billion, compared to LSEG consensus estimates of earnings of $4.38 per share and revenue of $5.14 billion. Net income was $620 million. Adobe projected earnings…
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U.S. Stocks Move Mostly Lower As Producer Price Inflation Exceeds Estimates
Stocks showed a lack of direction in early trading on Thursday but moved mostly lower over the course of the session. The major averages all moved to the downside on the day, although selling pressure remained somewhat subdued. The major averages climbed well off their worst levels going into the close but remained in negative…
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Crypto: Ethereum’s Dencun Update Goes Live, Quantum Blockchain’s ‘Method C’ Revolutionizes Mining, and Latest News
Ethereum launches Dencun upgrade to reduce layer 2 transaction costs Ethereum (COIN:ETHUSD) introduced the Dencun upgrade on Wednesday, which implements mechanisms to lower transaction costs on layer 2 solutions that bundle multiple transactions for the main network. This change has already shown results, with the average transaction cost on Optimism (COIN:OPUSD) dropping to about 4…
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U.S. Retail Sales Rebounded, First-Time Employment Benefit Claims Down
Retail sales in the U.S. rebounded in the month of February, according to a report released by the Commerce Department on Thursday, although the increase fell short of economist estimates. The Commerce Department said retail sales climbed by 0.6 percent in February after slumping by a revised 1.1 percent in January. Economists had expected retail…
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Futures Pointing To Initial Strength On Wall Street
The major U.S. index futures are currently pointing to a modestly higher open on Thursday, with stocks likely to see initial strength as traders digest a slew of key U.S. economic data. The futures remained positive even after the Labor Department released a report showing producer prices increased by much more than expected in the…
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U.S. Stock Futures Rise Ahead Of PPI and Retail Sales; Oil Prices Climb
U.S. index futures are rising in Thursday’s pre-market, with investors awaiting producer inflation data and retail sales, which impact U.S. interest rate projections for the year. At 06:39 AM, Dow Jones futures (DOWI:DJI) rose 108 points, or 0.27%. S&P 500 futures advanced 0.32%, and Nasdaq-100 futures gained 0.46%. The yield on 10-year Treasury notes was…