Tag Archives: Market News

Grayscale’s decision to file for an Ether futures ETF comes on the heels of a significant legal victory against the US Securities and Exchange Commission (SEC). Renowned crypto asset manager Grayscale Investments recently filed for a new Exchange-Traded Fund (ETF) that will track Ethereum (ETH) futures, as reported by the Wall Street Journal. Grayscale’s Unique Approach In its previous attempt to launch a crypto ETF, Grayscale filed under the Investment Company Act of 1940. This filing,...

Although hundreds of billions away, Microsoft’s valuation is gradually closing in on that of Apple, racing to become the world’s largest. Microsoft Corporation (NASDAQ: MSFT) is making progress with its valuation and seems ready to give Apple Inc (NASDAQ: AAPL) a run for its money. The company’s valuation is now moving closer to Apple’s as it races to overtake the iPhone maker as the world’s largest company by market cap. According to Marketwatch data as of writing time, Apple shares have...

Similarly, the global rice market is currently under pressure as China, the world’s top rice producer, deals with severe rain and flood concerns in its grain-producing north-eastern area. Olive oil, a staple in kitchens around the world, has recently become the center of attention due to an unprecedented surge in price. As severe droughts plague major olive-producing countries in the Mediterranean region, supplies are dwindling. Drought’s Grip on Olive Production The United States...

The performance of Instacart IPO will provide valuable insights into the appetite for tech-driven companies and the willingness of investors to pay a premium for companies operating in sectors with significant growth potential. Popular grocery delivery app, Instacart has recently made waves in the financial world by announcing its intention to raise the proposed price range for its upcoming Initial Public Offering (IPO). This strategic move comes hot on the heels of a highly successful IPO...

Tesla is likely to decide on a breakthrough method of die casting multiple sections of its EVs to reduce cost and improve production. Tesla Inc (NASDAQ: TSLA) has reportedly figured out a technological breakthrough that will transform the process of making electric vehicles. Fine-tuning the process will help Tesla cut production costs considerably. Tesla stock closed 1.75% higher at $276.04 on the news. Five people familiar with the matter spoke with Reuters anonymously. According to these...

High energy prices can have a cascading effect on other sectors of the economy, contributing to the overall rise in consumer prices. The European Central Bank (ECB) has announced its 10th consecutive hike in its main interest rate. This decision has catapulted the Central Bank’s main deposit facility rate from -0.5% in June 2022 to a historic 4%. The ECB’s Commitment to Tackling Inflation While this decision may seem drastic, it reflects the ECB’s unwavering commitment to controlling...

Prices of oil in the US hit a 10-month high as oil shortages are expected until the end of the year following Russia and Saudi output cuts. In response to fears of weaker supply, the prices of oil rose on Thursday. The West Texas Intermediate (WTI) crude climbed 1.6% to $90.04 per barrel, its highest point since November last year. Brent crude also sold at a 10-month record of $93.23 after rising 1.5%. The impact of the increase in crude prices may be stiff on the economy as gasoline...

Core inflation in August rose as the CPI showed price increases across several points, including energy, housing and airfares. Core inflation in August saw its largest monthly increase for the year as consumer prices rose on housing, energy, and many other items. According to the United States Department of Labor, the consumer price index (CPI) rose 0.6%, seasonally adjusted, up 3.7% from the same period last year. Economists polled by Dow Jones had predicted that the CPI would increase...

Currently, Inditex has outlets in about 213 countries globally and only a low market share in many of them. Consequently, the company notes it has strong growth potential in many countries where it has an office. Fast fashion company Inditex has posted a net profit of $2.7 billion for the six months to July 31. The Zara owner posted its records on Wednesday, exceeding expectations with its 40% profit jump. Inditex sales rose 13.5% to 16.9 billion euros and a gross margin of 58.2%....

While Bitcoin maintains its stability amid inflationary concerns and economic data releases, other cryptocurrencies face a different fate. In recent months, the world has witnessed a significant degree of financial turbulence as it relates to dwindling crypto prices and concerning Consumer Price Index (CPI) data. One key aspect of this turbulence has been the seesawing prices of cryptocurrencies, a phenomenon that has left many investors and analysts speculating about the future of digital...