ADVFN US – Market Content Editor
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Bitcoin Stabilizes at $62,000, SEC Delays Exodus NYSE Listing, and More Crypto News
Bitcoin hovers at $62K amid favorable macroeconomic data On May 9, Bitcoin (COIN:BTCUSD) is showing signs of recovery as new U.S. macroeconomic data revealed an unexpected rise in unemployment claims, hitting a nine-month high. At last check, the cryptocurrency was up 1.4% over the last 24 hours at $62,038. This situation is generating expectations of…
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First-time U.S. Benefit Claims Rose More Than Expected
First-time claims for U.S. unemployment benefits rose by much more than expected in the week ended May 4th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 231,000, an increase of 22,000 from the previous week’s revised level of 209,000. Economists had expected jobless claims…
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Choppy Trading Likely To Persist On Wall Street
The major U.S. index futures are currently pointing to a roughly flat open on Thursday, with stocks likely to extend the lackluster performance seen over the two previous sessions. The futures had been pointing to a modestly lower open but regained ground following the release of a report from the Labor Department showing a much…
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Airbnb Stocks Drop 8% Amid Bleak Outlook; Bumble Surges 14% on Global Download Rise, and More in Earnings
Airbnb (NASDAQ:ABNB) – Airbnb’s shares fell 8.4% in pre-market trading despite surpassing first-quarter expectations with earnings per share of 41 cents, compared to the expected 24 cents, and a revenue of $2.14 billion, beating the forecast of $2.06 billion. However, the company provided a less optimistic outlook for the future. Airbnb projected second-quarter revenue to…
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Bain Capital in Talks to Acquire PowerSchool; Blackstone Emerges Victorious in Hipgnosis Bidding War, and More News
Bain Capital (NYSE:BCSF), PowerSchool Holdings (NYSE:PWSC) – Bain Capital is in talks to purchase PowerSchool, an educational software provider, in a private deal that could value the company at about $6 billion, including debt. PowerSchool provides cloud-based software for primary education in North America, serving over 50 million students in more than 90 countries. Blackstone…
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U.S. Index Futures Dip, Bank of England Holds Interest Rates at 5.25%
U.S. index futures are trading lower in pre-market trading on Thursday, halting momentum after the Dow Jones had closed higher for six consecutive sessions, the longest winning streak of 2024 for the index so far. As of 7:05 AM, Dow Jones futures (DOWI:DJI) fell 81 points, or -0.21%. S&P 500 futures fell -0.20%, and Nasdaq-100…
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Dow Extends Winning Streak Amid Another Lackluster Session
Stocks showed a lack of direction over the course of the trading day on Wednesday, extending the lackluster performance seen during Tuesday’s session. Despite the choppy trading, the Dow closed higher for the sixth straight day, reaching its best closing level in over a month. The major averages eventually finished the day mixed. While the…
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Coincheck’s Nasdaq Listing Plans, FTX’s 118% Creditor Refunds, and Latest Crypto News
Coincheck prepares Nasdaq listing via SPAC, following in Coinbase’s footsteps Coincheck is on track to become the second cryptocurrency exchange to be publicly listed in the US, joining Coinbase Global (NASDAQ:COIN). The company plans to finalize its listing on Nasdaq in the second or third quarter of this year through a merger with SPAC Thunder…
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Wholesale Inventories, Oil Inventories Reports Due
The Commerce Department is due to release its report on wholesale inventories in the month of March at 10 am ET. Wholesale inventories are expected to decrease by 0.4 percent. At 10:30 am ET, the Energy Information Administration is scheduled to release its report on oil inventories in the week ended May 3rd. Crude oil…
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Lingering Interest Rate Uncertainty May Weigh on Wall Street
The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to move to the downside after ending yesterday’s lackluster session narrowly mixed. Lingering uncertainty about the outlook for interest rates may weigh on the markets following Tuesday’s remarks by Minneapolis Federal Reserve President Neel Kashkari. Kashkari suggested interest…