A worsening macroeconomic climate and the collapse of industry giants such as FTX and Terra have weighed on bitcoin’s price this year. STR | Nurphoto via Getty Images Bitcoin’s price slumped to around $57,000 apiece Thursday, hitting a two-month low after the U.S. Federal Reserve released minutes from its June meeting indicating the central bank … Read more
Constellation Brands reported an earnings beat on Wednesday that was driven by strength in its beer business. However, shares fell 4% after an initial move up, as investors — including us — remain troubled by continued weakness in the wines and spirits business. Comparable net sales for the three months ended May 31 increased 6% … Read more
The Exchange Square Complex, which houses the Hong Kong Stock Exchange. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets rose Thursday morning as Japan’s Topix crossed its all-time high of 2,886.50, previously set in December 1989. The Topix jumped 0.56% in early morning trading, while the Nikkei 225 rose 0.55%. The Nikkei is less than … Read more
Federal Reserve officials at their June meeting indicated that inflation is moving in the right direction but not quickly enough for them to lower interest rates, minutes released Wednesday showed. “Participants affirmed that additional favorable data were required to give them greater confidence that inflation was moving sustainably toward 2 percent,” the meeting summary said. … Read more
One exchange-traded fund is betting on a U.S. manufacturing job resurgence. Tema ETFs CEO and founder Maurits Pot is behind the American Reshoring ETF (RSHO) that focuses on industrials. “Some will call it deglobalization. We’re in the early innings,” Pot told CNBC’s “ETF Edge” this week. “At the heart of it is job creation, manufacturing … Read more
A Southwest Airlines jet is parked Ellison Onizuka Kona International Airport at Kehole awaiting passengers on January 20, 2024 in Kailua-Kona, Hawaii. Kevin Carter | Getty Images Southwest Airlines said Wednesday that it has adopted a shareholder rights plan, more commonly known as a “poison pill,” in response to activist Elliott Management’s investment in the … Read more
JPMorgan’s Marko Kolanovic. Crystal Mercedes | CNBC A top strategist at JPMorgan who was caught offside by the stock market rally is quitting the investment firm. Marko Kolanovic, who served as chief global markets strategist and co-head of global research, is leaving the bank to explore other opportunities, according to a source familiar with the … Read more
Crude oil futures held firm on Wednesday as traders waited for the latest round of U.S. inventory data for signs of whether gasoline demand is picking up. U.S. crude oil gained about 6% last month on expectations of a tighter third quarter with stockpiles forecast to draw down as summer fuel demand picked up. The … Read more
A row of Tesla superchargers is shown at a supercharging location in Los Angeles on June 5, 2024. Mike Blake | Reuters Tesla shares saw more gains in premarket trading Wednesday, after jumping 10% in the previous session following the release of second-quarter vehicle production and deliveries figures that beat analyst expectations. The company’s stock was … Read more
We’re raising our price targets on the Investing Club’s only “own it, don’t trade it” stocks — Nvidia and Apple — two mega-cap tech names that have been winners this year with more room to run. Nvidia We’re boosting our Nvidia price target to $150 per share from $120 — representing an increase of more … Read more
