Tag Archives: Story of the Day

Market analysts believe the new updates released by OpenAI significantly contributed to the rise of Microsoft (MSFT) shares.  Microsoft Corporation (NASDAQ: MSFT), a global technology powerhouse, witnessed a remarkable surge in its share price, achieving unprecedented heights for the first time since 2021. On November 7, the company’s shares ended the trading session at a record high of $360.53, representing an impressive daily increase of 1.12%. The surge propelled the company’s market...

Given BTC price’s continuous rejection of the $35k zone, it is possible that we may witness Bitcoin correction to $31k. The price of Bitcoin has broken through the $35k resistance for the third time since the start of November. It shattered the long-term consolidation range between $25k and $31k on October 22. Although the price has been on the rise since then, the overall signals have been mixed, with some analysts expecting retracements and others anticipating a continued upward trend....

A Circle spokesperson confirmed that a public listing is not exactly far from the firm’s aspirations. Circle, the issuer of the USD Coin (USDC) stablecoin, is reportedly in talks with its advisers over an initial public offering (IPO) for early 2024. According to Bloomberg, which cited sources with inside knowledge about Circle, the deliberations may or may not end up in a public listing. If it does go public, however, sources did not share what valuation Circle is expected to hit. But the...

WeWork has filed to begin bankruptcy proceedings to protect itself as it reorganizes debt in US and Canada only. Co-working space provider WeWork Inc (NYSE: WE) has filed for Chapter 11 bankruptcy in New Jersey federal court. The bankruptcy filing is expected to protect the company from action against landlords and creditors as the company tries to manage its heavy debt. WeWork is now worth less than $50 million, from a $47 billion valuation back in 2019. WeWork Bankruptcy In a...

Bitcoin forms a “Golden Cross” pattern on the technical charts suggesting a bullish price actions going ahead. The world’s largest cryptocurrency Bitcoin (BTC) has been consolidating around $34,400 levels recently with the Bank of Japan (BoJ) recently deciding to soften its grip on the “yield curve control” program. On Tuesday, the central bank maintained the short-term policy rate at -0.1%, preserving its policy of negative interest rates. Nevertheless, the BOJ indicated that it would...

Experts continue to speculate on what the SEC’s next course of action regarding crypto-based ETF applications could be. The United States Securities and Exchange Commission (SEC) appears to be gearing up to reexamine Grayscale’s application to convert its Bitcoin trust into a spot exchange-traded fund (ETF). This comes after a recent decision by the D.C. Circuit Court of Appeals to scrape the regulator’s rejection of Grayscale’s spot Bitcoin ETF application. The court described the SEC’s...

Despite the varied economic performance across the 20-country common currency bloc, the challenges stemming from high inflation persist. The Eurozone is grappling with a significant economic downturn, as recent data indicate a sharp drop in inflation and a contraction in the region’s economy. According to a preliminary report published Tuesday by Eurostat, the European Union statistics agency, inflation across the region plummeted to a two-year low of 2.9% in October, marking a...

Investors will be eyeing major announcements ahead this week such as jobs report, Federal Reserve rate decision, and Apple’s earnings.  On Monday, October 30, the Dow Jones Industrial Average (INDEXDJX: .DJI) gained by over 511 points or 1.58%, ending the trading at 32,928.96. This was the biggest single-day gain market by the index, after June 2023. The S&P 500 saw a robust 1.2% surge, reaching 4,166.82, marking its most substantial gain since late August. Simultaneously, the Nasdaq...

BlackRock has taken an important step forward by obtaining a CUSIP number for its iShares Bitcoin spot ETF. BlackRock Inc (NYSE: BLK), one of the world’s largest asset managers, recently made headlines by announcing its plans to provide initial “seed” funding for its spot Bitcoin Exchange Traded Fund (ETF). This strategic move was revealed in its recent securities filings, specifically through the SEC Form S-1, which is the initial registration form required for new securities by public...

Rise in the US Treasury Yields put pressure on the market resulting into bearish weekly start on Wall Street. Yields surge past 5% with Fed planning for higher-than-longer interest rates. Macro pressure continues to hover over Wall Street as the 10-year US Treasury yields surged higher even today on Monday, October 23. The treasury yields continue to hover at multi-year highs as investors prepare for higher-for-longer interest rates from the Federal Reserve. Around 5:54 a.m. ET, the...