Delta Air Lines closed out the year by doubling its quarterly profit as travel demand, particularly for international trips, helped drive record revenue in 2023. CEO Ed Bastian said continued strong travel demand could boost earnings this year. Still, the company’s full-year profit outlook was below a previous forecast, and the stock fell 5% in … Read more
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images JPMorgan Chase reported fourth-quarter earnings before the opening bell Friday. Here’s what the company … Read more
Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, February 27, 2023. Brendan McDermid | Reuters Ark Invest President and COO Tom Staudt believes bitcoin is now a “public good” to which all investors should have access, as … Read more
This year is shaping up to be a better time for bank stocks than in 2023. But, investors shouldn’t get too excited ahead of earnings season. Club name Wells Fargo will deliver fourth-quarter results before the opening bell on Friday. Our other financial holding, Morgan Stanley , will report on Tuesday. As important as the … Read more
Bitcoin exchange-traded funds saw big swings on their first day of trading on Thursday, mirroring a volatile day for crypto prices more broadly. The Grayscale Bitcoin Trust (GBTC) closed up 0.5%, well off its highs of the day, while the iShares Bitcoin Trust (IBIT) fell more than 4% after initially rising in morning trading. Both … Read more
Jonathan Raa | Nurphoto | Getty Images The bitcoin exchange-traded funds launching Thursday after the SEC’s long-awaited approval come at a wide variety of price points, with signs that a fee war is already underway. The Bitwise Bitcoin ETF (BITB) has the lowest expense ratio of all the new bitcoin funds, at 0.20%. Several other … Read more
Ongoing disruption to trade flows through the Red Sea could hit global economic growth, the head of one of the world’s largest container shipping firms said Thursday. Maersk CEO Vincent Clerc said it remained unclear whether passage through the waterway would be re-established in “days, weeks or months,” in comments first provided to the Financial … Read more
The U.S. Securities and Exchange Commission just approved the first-ever batch of spot bitcoin exchange-traded funds to come out of the U.S. The agency gave the green light on Wednesday to sponsors of 10 ETFs, including BlackRock, Invesco, Fidelity, Grayscale, and Ark Invest — paving the way for these funds to begin trading as soon … Read more
The 10-year U.S. Treasury yield rose above 4.06% Thursday after the latest inflation reading came in hotter than expected, pushing expectations for an interest rate cut from the Federal Reserve further out. The yield on the 10-year Treasury note rose more than 3 basis points at 4.062%. It has been hovering around the 4% mark … Read more
Aerial view of a tanker. Bugto | Moment | Getty Images Iran on Thursday captured an oil tanker previously involved in a Washington-Tehran dispute over carrying U.S.-sanctioned crude, Iranian state media said. The Iranian navy seized the vessel St. Nikolas in the Gulf of Oman, the state-run Islamic Republic News Agency said in a Google-translated … Read more
