Nvidia’s stock dropped over 2% on Wednesday as investors cashed in gains after a powerful run-up. Wednesday’s sell-off marks a classic bout of profit-taking in one of this year’s most crowded trades. The pullback came after months of outperformance and arrived as fresh headlines on competition, China export rules, and shifting macro sentiment gave traders
Bitcoin’s price remained stuck in a narrow range as a series of macroeconomic factors kept market activity constrained. The total crypto market cap edged slightly lower, with buying and selling pressure both subdued during a week filled with key macro developments. As of press time, overall market capitalisation hovered just above the $3 trillion mark.
Binance’s native coin, BNB, has overtaken Ripple’s XRP and is now the fourth-largest cryptocurrency by market cap. With a market cap of $118 billion, BNB is now ahead of XRP’s $113 billion. However, the flip comes as BNB, XRP, Bitcoin, and other leading cryptocurrencies underperform. BNB briefly dropped below the $850 mark on Monday as
Dow futures retreated Tuesday as market participants braced for November’s employment report. The employment data, which is delayed due to the government shutdown, is a key economic indicator that could influence Federal Reserve policy decisions. The Dow Jones Industrial Average futures fell 72 points, or 0.2%, while S&P 500 futures declined 0.3% and Nasdaq 100
Brent oil prices fell below $60 per barrel on Tuesday, slipping more than 1.5% as hopes for a Russia-Ukraine peace deal strengthened. Brent crude oil prices dropped under $60 per barrel this morning, marking the first such occurrence in over seven months. Furthermore, the West Texas Intermediate price concluded Monday’s trading at its lowest point
The ARKK ETF stock has done well this year, and is beating other funds like those tracking the Nasdaq 100 and S&P 500 indices. Its total return this year was ~40%, much higher than QQQ and VOO’s 20% and 17.7%. However, the fund remains much lower than its all-time high of $157.98. Its five-year performance
Chinese clean energy hardware maker EcoFlow Technology Inc. is exploring a potential initial public offering in the US, according to people familiar with the matter. If it moves ahead, the listing would stand out at a time when few Chinese companies of comparable size have tested US capital markets. The plans, as reported by Bloomberg,
Two of Wall Street’s most influential technology analysts have laid out aggressive bull-case scenarios for Alphabet and Microsoft. They argued that accelerating artificial intelligence adoption could propel each company toward a $5 trillion market valuation by 2026. While both tech giants are already dominant mega-caps, these analysts contend that the market is still underestimating the
Oil prices plunged with Brent falling below $60 per barrel on Tuesday for the first time in seven months. Prices were under pressure as hopes of a peace deal between Russia and Ukraine dented sentiments. Meanwhile, gold prices were steady after spending most of the day in the red, following the release of the US
US employers added 64,000 jobs in November, data released Tuesday by the US Bureau of Labor Statistics revealed, exceeding economists’ expectations of a gain of 50,000. At the same time, the unemployment rate rose to 4.6%, up from 4.2% a year earlier. The increase in nonfarm payrolls by 64,000 in November followed a revised decline