Coinbase Stock Keeps Sliding After Earnings Report

Coinbase Stock Keeps Sliding After Earnings Report

The biggest cryptocurrency exchange in the US said it was bleeding users, reflecting continued destruction in the crypto market and investors’ unease about risky assets. Coinbase Global Inc. CORNER -12.60% said Tuesday that it lost hundreds of millions of dollars in the first quarter, sending the stock tumbling in after-hours trading. Following the after-market report, … Read more

Dow Falls for Fourth Straight Day

Dow Falls for Fourth Straight Day

US stocks swung between gains and losses on Tuesday as uncertainty over inflation, interest rates and the economy continued to weigh on the market. All three major indexes opened higher, with the technology-heavy Nasdaq Composite up 2.8% at one point. By late morning, stocks had mostly erased those gains and appeared on track to extend … Read more

Cryptocurrency TerraUSD Falls Below Fixed Value, Triggering Selloff

Cryptocurrency TerraUSD Falls Below Fixed Value, Triggering Selloff

One type of cryptocurrency, a so-called stablecoin, is meant to keep its value at $1. But on Monday, the third-biggest stablecoin, TerraUSD, fell as low as 94 cents, causing a flood of investors to sell their holdings. Stablecoins get their name from their being tied to the value of government-issued currencies, such as the dollar. … Read more

Stocks Open Lower as Bond Yields Edge Higher

Stocks Open Lower as Bond Yields Edge Higher

US stock indexes fell, led by losses in technology shares, as investors shunned both government bonds and equities on worries that further interest-rate increases and China’s Covid-19 policies would weigh on growth. The S&P 500 declined 1.5%, setting major indexes up for another day of losses. The technology-focused Nasdaq Composite Index fell 1.8% while the … Read more

U.S. Stock Futures Point to Wall Street Extending Selloff

U.S. Stock Futures Point to Wall Street Extending Selloff

US stock futures edged down, putting major indexes on track to extend losses after one of Wall Street’s worst selloffs since the pandemic began. Futures tied to the Dow Jones Industrial Average shed 0.3%, a day after the blue-chip index slumped more than 1,000 points, its worst day since 2020. S&P 500 futures edged down … Read more

Why Is Bitcoin Falling? Prices Drop Amid Broader Market Tumble.

Why Is Bitcoin Falling? Prices Drop Amid Broader Market Tumble.

Bitcoin was trading around $37,000 Thursday. Rutmer Visser/Dreamstime Text size The price of Bitcoin, Ether, and other cryptocurrencies slumped on Thursday, reversing a recent rally as a deep selloff in the stock market spread to digital assets.. Bitcoin tumbled 6% over the past 24 hours to around $36,900, after ending 6% higher on Wednesday and … Read more

Stock Futures Slip as Investors Reassess Fed Comments

Stock Futures Slip as Investors Reassess Fed Comments

US stock futures fell, with technology stocks on track to lead losses after the opening bell, as investors assessed the implications of Fed’s most aggressive tightening of monetary policy in more than two decades. Futures for the S&P 500 fell 0.6% Thursday. Contracts for the tech-focused Nasdaq-100 lost 0.7% and futures for the Dow Jones … Read more

Stocks Open Mixed Ahead of Fed Decision

Stocks Open Mixed Ahead of Fed Decision

US stocks wavered Wednesday ahead of the Federal Reserve’s interest-rate decision. The S&P 500 gained less than 0.1% in early New York trading. The tech-focused Nasdaq Composite Index slipped 0.1% while the Dow Jones Industrial Average was roughly flat. Fed officials are widely expected to announce Wednesday afternoon that they are raising interest rates by … Read more

With interest rates rising, it’s time to focus on MANG stocks instead of FAANG, according to Jefferies

With interest rates rising, it's time to focus on MANG stocks instead of FAANG, according to Jefferies

Heading into the Federal Open Market Committee’s policy meeting, analysts at Jefferies on May 3 advised investors to avoid the popular FAANG + Microsoft group of stocks. They pointed instead to a group they named MANG. We’ll compare the two groups below. The FAANG group — Facebook holding company Meta Platforms Inc. FB, Apple Inc. … Read more

Will Fed rate hike be a ‘clearing event’ for battered U.S. stock market? What investors are watching for on Wednesday

Will Fed rate hike be a 'clearing event' for battered U.S. stock market? What investors are watching for on Wednesday

A little clarity from the Federal Reserve on the likely size and scope of future rate increases on Wednesday could be a balm for a bruised US stock market, according to some analysts. The meeting could set up as “yet another ‘clearing event,’” said Sherif Hamid, a strategist at Jefferies, in a note last week. … Read more