London—The dollar edged up on Wednesday as euro-dollar volatility hit the highest level of the year in response to worries about the Omicron variant, while the dollar found support in renewed expectations for interest rates hikes. The dollar index rose 0.03 percent to 95.997 at 0920 GMT, after it registered its strongest month since June,…
Euro Dollar Volatility Surges on Omicron, Bets on Fed
December 1, 2021
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Stocks Roar Higher as Traders Park COVID-19 and Fed Jitters
December 1, 2021
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LONDON—Stock markets roared higher on Wednesday, reversing much of the previous session’s losses, as investors used the dip in prices to bet the latest COVID-19 variant would not derail the economic recovery. The EUROSTOXX rose 1.1 percent in early trading while Britain’s FTSE 100 rallied 1.3 percent and Germany’s DAX 0.75 percent. Wall Street futures…
This Day in Market History: Exxon-Mobil Merger Creates Largest Company in the World
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened On Nov. 30, 1999, a $73.7 billion merger between Exxon and Mobil Oil established the largest company in the world. Where the Market Was The S&P 500 shares closed 1.90 percent lower at $4,567.00 and the…
Here’s How Stocks Have Performed Under Fed Chair Jerome Powell, so Far
November 30, 2021
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For investors who took a break from the market during Thanksgiving week, one of the biggest Wall Street headlines they may have missed was President Joe Biden’s decision to renominate Federal Reserve Chairman Jerome Powell for a second term in the position as the Fed begins its post-COVID-19 pandemic tightening program. Stocks finished down last…
‘Retire’ the Word ‘Transitory’: Powell Inflation Testimony Shakes Stock Market
The SPDR S&P 500 ETF Trust traded lower by 1.8 percent on Tuesday after Federal Reserve chair Jerome Powell changed his tune on the outlook for U.S. inflation. What Happened In testimony to the Senate, Powell said he will no longer be using the term “transitory” to describe the environment of elevated U.S. inflation. “The…
Who Is Parag Agrawal, Twitter’s New Under-The-Radar CEO
With Jack Dorsey exiting the chief executive’s role at Twitter, the company’s board of directors unanimously voted to name Parag Agrawal as CEO and a member of the board, effective immediately. But for many people who are not actively following the company, the response to the news might have been “Parag Who?” Major Promotion The…
Tech Rally Lifts Wall Street From Omicron-Driven Rout
November 29, 2021
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Bargain buying in technology stocks drove Wall Street higher on Monday following a slump related to Omicron, while the Dow Jones lagged its peers as major banks fell and investors awaited more information on the new coronavirus variant. The S&P technology subindex jumped 2.1 percent, indicating that investors were likely favoring pandemic-resistant technology stocks amid…
Currencies Recover From Omicron Chaos but Analysts Warn More Volatility Ahead
November 29, 2021
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OTTAWA—Currency markets calmed on Monday in Asia after the initial shock of Omicron’s discovery sent investors scurrying for cover last week, but analysts warned of more volatility with little still known about the new coronavirus strain. The risk-sensitive Australian dollar rose 0.37 percent to $0.7139, recovering after a 1 percent tumble on Friday that saw…
Whales Are Buying Dogecoin, the Meme Crypto Ranks Among the Most Actively Used Smart Contracts
According to the smart contract activity, the Dogecoin (DOGE) is being accumulated by whales as investors buy the dip. Dogecoin has made it into the top ten most frequently utilized smart contracts on the Ethereum blockchain. Smart contracts are programs stored on a blockchain that run when predetermined conditions are met. Through the smart contract…
More Than $750 Million Worth of Crypto Positions Liquidated on Concerns Over New COVID-19 Variant ‘Omicron’
After the World Health Organization (WHO) warned of a new COVID-19 variant named Omicron detected in South Africa, the cryptocurrency market went into panic selling on Friday. With Bitcoin (BTC) falling below $63,000 and markets closing in the red, many crypto traders have had their positions liquidated. Bitcoin’s decline pulled down the entire market along…
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