The price of bitcoin has steadied after a spectacular flash crash pushed the cryptocurrency down nearly 19 percent intraday on Tuesday—the day El Salvador adopted it as legal tender—but analysts say investors should brace for more volatility. “Post liquidations can push prices around for a few days,” wrote cryptocurrency technician Daniel Joe, in an analytical…
Market Pulse: Global Stocks Fall, Wall Street Futures Down, Dollar Lifts
September 8, 2021
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World stocks fell from the previous session’s record highs, European stocks dropped, and Wall Street futures were down on Wednesday on caution over the pace of economic recovery, while the dollar hit one-week highs as investors pared down their exposure to riskier assets. MSCI’s all-country world equity index fell 0.34 percent after seven consecutive days…
Bitcoin Price Plummets on First Day as Legal Tender in El Salvador
September 8, 2021
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Selling pressure continued to bear down on bitcoin on Wednesday after it suffered its heaviest losses in months a day earlier when El Salvador officially adopted the cryptocurrency as legal tender but got off to a rocky start. Bitcoin was trading at $45,798 on Coinbase at 5:09 a.m. New York time on Sept. 8, down…
Federer-Backed Shoemaker ‘On’ Aims for Over $6 Billion Valuation in US IPO
On Holding AG, a shoe firm backed by Swiss tennis star Roger Federer, is targeting a valuation of more than $6 billion in a U.S. initial public offering (IPO), a regulatory filing showed on Tuesday. The company plans to sell 31.1 million shares in the IPO, priced between $18 and $20 per share. It would raise…
Market Pulse: European Stocks Edge Down, Wall Street Futures Flat, Dollar Steady Near One-Month Low
European stocks edged down, Wall Street futures remained largely flat, and the dollar hovered near a one-month low on the morning of Sept. 7. In Europe, the STOXX index of 600 European companies edged down 1.48 points, or 0.31 percent as of 6:30 a.m. New York time on Sept. 7, after recording its second-highest close in history…
Oil Prices Fall $1 After Saudi Price Cuts for Asia Spur Demand Concerns
Oil prices fell on Monday, extending losses after Saudi Arabia, the world’s top oil exporter, slashed crude contract prices for Asia over the weekend, reflecting well-supplied global markets and concerns over the outlook for demand. Brent crude futures fell 0.69 percent to $72.11 a barrel by 10:39 GMT, while U.S West Texas Intermediate crude was at $68.83 a…
European Stocks and Wall Street Futures Rise as Investors Mull Fed Taper Timing
European stocks and Wall Street futures edged up on Monday, aided by the chance that the Federal Reserve would delay tapering stimulus after last week’s disappointing U.S. jobs report. In Europe, the STOXX index of 600 European companies was up 2.92 points, or 0.62 percent, by 6:10 a.m. ET, not far off a record high hit…
European Stocks, Wall Street Futures Rise as Investors Mull Fed Taper Timing
European stocks and Wall Street futures edged higher on Sept. 6, aided by the chance that the Federal Reserve would delay tapering stimulus after last week’s disappointing U.S. jobs report. In Europe, the STOXX index of 600 European companies rose 3.26 points, or 0.69 percent, to 475.19, its second-highest close in history. The German DAX…
End of the Summer: Events That May Shake Markets in September
LONDON—After a summer in which stocks have hit a seemingly never-ending run of record highs, September brings a series of monetary and political events that could jolt investors out of their complacency. The will-they-won’t-they debate over trimming pandemic-era stimulus gets an airing with several G10 central banks holding meetings. A showdown over U.S. national debt…
Fed Likely to Start Tapering Bond Buys in December: Former Atlanta Federal Reserve Chief
September 3, 2021
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A former Federal Reserve official said the central bank is likely to announce a tapering to its massive asset-buying program at a policy meeting in November and begin the process a month later, as investors look for clues when the central bank will begin withdrawing some of the support that has boosted markets. Dennis Lockhart,…
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