Shares of Twitter gained 7.3 percent on Thursday, reaching their highest level in more than a year. The social media’s stock hit $23.24, its highest level since Oct. 5, 2016, when it traded as high as $25.25 a share. It traded at $22.71 at 11:16 a.m. New York time. Jonathan […]
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Overstock.com CEO aims to sell or reorganize e-commerce business so he can focus on blockchain
Overstock.com CEO Patrick Byrne said he expects to have a deal in the next three months on selling or reorganizing the company’s retail business to focus on blockchain, the technology behind bitcoin. “My goal is [within] 60 to 90 days we walk away from this,” Byrne told CNBC Wednesday. He […]
Bitcoin may now be the biggest financial bubble of all time
Bitcoin is now sizing up to be what could be the biggest market bubble of all time. According to Birinyi Associates, bitcoin now looks to be bigger than any of the 10 other market bubbles it studied including the the tech bubble, beanie babies, the Dow in 1929 and the […]
3 ETFs are testing key levels, and they could be about to break out
Three big sector ETFs — energy, health care and tech — are testing key levels, according to one technician who believes all three could be on the verge of a breakout. The first is the energy-tracking ETF, the XLE, which has rallied about 5 percent in the past three months […]
‘Star Wars’ and the Fox deal could be the ‘shot in the arm’ Disney needs to surge
Disney shares could see a boost on the heels of the reported deal between the company and Twenty-First Century Fox as well as the release of the newest “Star Wars” film, some strategists say. The deal between the two companies — which sources told CNBC would value Fox assets at […]
Oil and gas fracking connected to low birth weights in infants, landmark study finds
Pregnant mothers who live near shale oil and gas fracking face an elevated risk of giving birth to babies with health problems, according to a landmark study. The finding comes as U.S. oil production is approaching all-time highs, driven by growth from U.S. shale fields. Producers in these areas use […]
Bitcoin futures briefly halted after plunging 10%
The Cboe‘s bitcoin futures fell 10 percent Wednesday, triggering a two-minute trading halt early Wednesday afternoon. The futures had triggered trading halts twice in their Sunday night debut as the futures surged. On Wednesday, the futures, which expire in January, were down by more than 7 percent at $16,720 as […]
DoubleLine’s Gundlach: Interest rates to increase in 2018
Jeffrey Gundlach, CEO of DoubleLine Capital, sees interest rates continuing to rise into 2018 as the Federal Reserve moves to tighten monetary policy and Republicans push tax cuts. “It seems to me that interest rates should continue to rise as we move into 2018,” said Gundlach during CNBC’s “Halftime Report” […]
Dow stock Boeing is on track for best year in nearly 4 decades, but the charts point to trouble
Boeing‘s recent run has been nothing short of amazing. Boeing is on track for its best annual performance since 1978. The stock has soared more than 86 percent this year, adding about $77 billion in market cap and around 892 points to the Dow. Boeing was trading at yet another […]
Another bitcoin rival leaps to a record high, surpassing litecoin’s market value
Another day, another digital currency surge. Ripple, or XRP, leaped 37.5 percent from Tuesday’s close to a record high of 51.37 cents Wednesday, according to CoinMarketCap. The gains pushed ripple past litecoin into fourth place by cryptocurrency market capitalization at $18.23 billion, according to CoinMarketCap. Ripple last traded slightly off […]