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Bitcoin rose on Wednesday away from four-month lows while settling above $80,000 on positive sentiment after more purchases by major corporations. Now markets await mainline US inflation data for February, expected to provide fresh clues on the odds of a Fed rate cut in upcoming months. Prices Bitcoin rose 0.95% at Bitstamp today to $83,733, with a session-low at $81,268. On Monday, bitcoin rose 5.5%, the first profit in six days away from a four-month trough at $76,600. Crypto Market Value The market value of cryptocurrencies rose by $30 billion today to $2.795 trillion. …
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks are nicely higher Wednesday thanks to deeply oversold conditions and some good news on the inflation front. The consumer price index report for February came in slightly cooler than expectations, rising 2.8% year over year. Although the Federal Reserve is unlikely to adjust policy at its upcoming meetings in March and May, the latest data has the market feeling better about inflation, and expectations of a possible cut in…
The U.S. Treasury Building is seen from the Washington Monument on a cold, winter day on Jan. 21, 2025 in Washington, DC.Kevin Carter | Getty ImagesThe U.S. debt and deficit problem worsened during President Donald Trump’s first month in office, as the budget shortfall for February passed the $1 trillion mark even though the fiscal year is not yet at the halfway point.Government spending eased slightly on a monthly basis though it still far outpaced revenue, according to a Treasury Department statement Wednesday. The deficit totaled just over $307 billion for the month, nearly 2½ times what it was in…
The sky is not falling for Club name Eaton — even if the chart this year for the electrical equipment supplier suggests otherwise. The news KeyBanc upgraded Eaton to its buy-equivalent overweight rating after the company’s investor day Tuesday afternoon. The analysts said the stock’s recent pullback has created a “unique entry point into one of our highest-quality names.” Their price target of $340 a share implies about 20% upside from where shares closed Tuesday. However, that level is still $31 below its highest close of the year on Jan. 22, which was just days before the emergence of Chinese…
As we enter 2025, the S&P 500 index has captured the attention of investors on Wall Street with its climb to new record levels. Last February, the upward momentum of one of the most important U.S. stock indices continued as it surpassed the 6,000‐point barrier for the first time in its history and recorded an all‐time high of 6,147 points. This strong performance has raised investor optimism, but at the same time, it has led analysts to cautiously anticipate the index’s trajectory in the new year—especially in light of political and economic developments that could reshape the financial…
The investment represents MGX’s first entry into the cryptocurrency and blockchain sectorsBinance, the world’s largest cryptocurrency exchange, and MGX, the Abu Dhabi-based AI and advanced technology investor, have announced a landmark $2 billion investment.This transaction, the first institutional investment in Binance to date, marks a significant step in advancing digital asset adoption and reinforcing blockchain’s role in global finance. It is also the single largest investment into a crypto company and the largest investment ever paid in crypto (stablecoin).Stepping into crypto sectorThe investment represents MGX’s first entry into the cryptocurrency and blockchain sectors, securing a minority stake in Binance as…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. Wall Street was mixed Wednesday as a reversal of recently stronger defensives sent the Dow into the red and battered tech rallied to keep the Nasdaq in the green. The market was sharply higher across the board earlier in the session, with cooler-than-expected consumer inflation data the focus over new tariffs. The latest reading on wholesale inflation is out Thursday morning. Jim said during the Morning Meeting that strength coming back into the market…
As we enter 2025, the S&P 500 index has captured the attention of investors on Wall Street with its climb to new record levels. Last February, the upward momentum of one of the most important U.S. stock indices continued as it surpassed the 6,000‐point barrier for the first time in its history and recorded an all‐time high of 6,147 points. This strong performance has raised investor optimism, but at the same time, it has led analysts to cautiously anticipate the index’s trajectory in the new year—especially in light of political and economic developments that could reshape the financial…
The benchmark S&P 500 and the Nasdaq rose on Wednesday following data that showed slowing U.S. inflation, although concerns about the economic fallout of President Donald Trump’s trade policies persisted. A Labor Department report showed consumer prices increased less than expected in February, but the improvement is likely to be temporary, given the backdrop of aggressive import tariffs. “This (CPI) is good news on the inflation front but obviously, with the imposition of tariffs, we still don’t know where the real direction of inflation is at this time,” said Peter Cardillo, chief market economist at Spartan Capital Securities. Traders held…
The UAE has achieved major progress by enhancing its labor regulations for worker protection and compliance needs. Fair labor practices serve as important government policies that establish equilibrium between employer-employee relationships in the UAE. Workplace standards enforcement together with employee rights protection falls under the jurisdiction of regulatory authorities specifically the Ministry of Human Resources and Emiratisation (MoHRE).UAE labor law and employment protectionsThe Federal Decree-Law No. 33 of 2021 establishes complete legal guidelines for employment protections throughout the United Arab Emirates labor relations framework. Employment contracts and wage rates as well as working time limits function together with dispute settlement…