Breaking News: Markets
Stocks making the biggest moves midday: FedEx, Continental Resources, Oracle and more
Check out the companies making headlines in midday trading. Continental Resources — Shares soared 15% after the shale company announced an all-cash buyout proposal from the family trust of billionaire founder Harold Hamm. Continental Resources said it’s yet to review the offer that would take the company private in a $25.4 billion deal. FedEx — […]
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Natural gas plummets as Freeport delays facility restart following explosion
Smoke billows from the Freeport LNG plant in Quintana, Texas, U.S., June 8, 2022, in this still image obtained from a social media video on June 9, 2022. Maribel Hill | Reuters Natural gas prices plunged on Tuesday, after Freeport LNG said its facility that had a fire last week likely won’t be back up […]
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The Fed’s balance sheet reduction officially starts Wednesday. Here’s how it works
In addition to an almost certain interest rate increase, the Federal Reserve on Wednesday will begin reducing its asset holdings, a process that is expected to drain trillions of dollars in liquidity from the financial system. The Fed’s balance sheet , primarily consisting of Treasurys and mortgage-backed securities (MBS), totals close to $9 trillion. That […]
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Here are Tuesday’s biggest analyst calls: Coinbase, Apple, Amazon, Best Buy, Netflix, Tesla & more
Here are Tuesday’s biggest calls on Wall Street: Benchmark downgrades Netflix to sell from hold Benchmark said in its downgrade of the stock that it’s “skeptical” of a sustained a Netflix recovery. “We have made mild estimate revisions off continued U.S. dollar strength, including vs. the yen and European currencies, that is likely not fully […]
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Novogratz says crypto going through a ‘Long Term Capital Management moment’ but nearing a bottom
Michael Novogratz Anjali Sundaram | CNBC Crypto investor Michael Novogratz is drawing parallels between crypto and Long Term Capital Management, a highly leveraged hedge fund that blew up in the late 1990s. “We are going through what feels to me a little bit like a Long Term Capital Management moment in crypto,” Novogratz said on CNBC’s […]
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Coinbase lays off 18% of workforce as executives prepare for recession and ‘crypto winter’
Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City. Steven Ferdman | Getty Images Coinbase is laying off almost a fifth of its workforce amid a collapse in its stock and crypto prices. The cryptocurrency exchange will cut 18% of full-time jobs, according […]
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Stocks making the biggest moves in the premarket: Continental Resources, Oracle, National Vision and more
Take a look at some of the biggest movers in the premarket: Continental Resources (CLR) – The oil and natural gas producer’s stock rallied 7.4% in the premarket after receiving a $70 per share “take private” bid from Chairman Harold Hamm and his family. The company’s board will establish an independent committee to evaluate the […]
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Bitcoin drops below $21,000 briefly as crypto sell-off continues
Illustrative image of two commemorative bitcoins with a green background. Artur Widak | Nurphoto | Getty Images Bitcoin briefly dropped below $21,000 on Tuesday in Asia before bouncing back slightly, continuing its plunge as investors sold off risk assets. The world’s largest cryptocurrency fell nearly 14% in the past 24 hours, while ethereum tumbled more than […]
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Australia’s S&P/ASX 200 drops 5% as Asia-Pacific stocks fall
SINGAPORE — Shares in Asia-Pacific fell in Tuesday morning trade after the S&P 500 fell overnight and closed in bear market territory. Australia’s S&P/ASX 200, which returned to trade Tuesday following a holiday yesterday, plunged about 5% and led losses among the region’s major markets. The Nikkei 225 in Japan fell 2% while the Topix […]
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Stock futures rise after the S&P 500 closes in an official bear market
U.S. stock futures rose on Monday night after the S&P 500 dropped back into bear market territory ahead of the Federal Reserve’s two-day policy meeting this week. Dow Jones Industrial Average futures rose by 94 points, or 0.3%. S&P 500 and Nasdaq 100 futures climbed 0.4% and about 0.6%, respectively. Those moves came after intense […]
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