More than 90 funds focused on digital assets like bitcoin have launched this year, bringing the total number of such “crypto-funds” to 124, according to financial research firm Autonomous Next. Data shared exclusively with CNBC Friday showed that the largest share of the funds, 37 percent, used venture capitalist-type strategies […]
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Want to make your company’s stock soar? Here’s the quick, easy thing you can do
Some tiny stocks are taking a wild ride as traders look for ways to bet on bitcoin’s blockchain technology. Since bitcoin doesn’t trade on a traditional exchange like the Nasdaq, traders have latched onto any stock claiming some connection to the world of digital coins and blockchain. Bitcoin is a […]
How more GDP models are better than one
CNBC’s Rapid Update estimate of GDP has continued to outperform the widely followed Atlanta Fed’s GDPNow. For Friday’s third quarter estimate of GDP, which came in at 3 percent, Rapid Update estimated 2.8 percent, compared with 2.5 percent for the Atlanta Fed. Over the three quarters of this year, the […]
Amazon just added a FedEx. Stock up nearly $62 billion in a single day
Amazon shareholders are having a good day. The e-commerce juggernaut added more market value in one day than that of more than 400 individual companies in the S&P 500. Amazon shares surged more than 13 percent to an all-time high midday Friday, a day after it reported better-than-expected earnings. The […]
Tesla nears bear market territory, and it could get a lot worse
Tech stocks are soaring, but there’s one name that’s noticeably absent from the recent rally: Tesla. Shares in the electric-car maker fell 2 percent on Friday after reports that production of the Model 3 would be delayed. Tesla’s stock has been on a precipitous decline since hitting a high last […]
Goldman: 7 stock picks to ride $1.3 trillion of corporate growth spending next year
A simple stock-picking strategy based on buying companies that invest the most for growth will outperform the market, according to one top Wall Street firm Goldman Sachs recommended that investors buy stocks of companies that have high levels of spending on capital expenditures, R&D, and acquisitions. “Investors have rewarded companies […]
Tech shares are this bull market’s most important stocks right now
Technology is the most important industry for stocks today, indicating that blowout earnings from giants such as Microsoft could be good for the market. Shares of Google parent Alphabet, Microsoft and Intel soared nearly 6 percent or more in Friday trading after reporting solid quarterly earnings that came in well […]
In Pictures: Catalonia celebrates declaration of independence from Spain
Pau Barrena | AFP | Getty Images 1 Hour Ago The Catalan parliament voted Friday to declare independence from Spain in a move that will inevitably increase tensions with Madrid. Catalonians on the streets of Barcelona erupted in celebration upon hearing the news. The Spanish Senate immediately voted to enact […]
Brent crude rockets above $60 a barrel for first time since July 2015
Brent crude oil spiked higher on Friday to trade above $60 a barrel for the first time in more than two years. The international benchmark for oil prices was trading up $1.05, or 1.8 percent, at $60.35 a barrel at 11:17 a.m. ET (1517 GMT). It was near the highest […]
There’s a ‘macro storm’ brewing that’s about to send one bank to all-time highs: Technical analyst
Todd Gordon is seeing something in the markets that he says is about to drive JPMorgan to new record highs. The financials sector is trading at 10-year highs. The TradingAnalysis.com founder says the recent rally in bond yields is reinforcing the surge in big banks, and there are hints of […]