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Following a brief dip due to profit-taking and other factors, $Bitcoin(BTC.CC$ has embarked on a new sustained rally since February. On Tuesday, the price of Bitcoin hit $57,000, marking a new high since November 2021. Concurrently, cryptocurrency-related stocks, such as $Coinbase(COIN.US$, $Marathon Digital(MARA.US$, and $MicroStrategy(MSTR.US$, have collectively gained momentum.
What's Fueling Bitcoin's Latest Price Surge?
T...
What's Fueling Bitcoin's Latest Price Surge?
T...
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The U.S. economy managed to stave off the anticipated recession in 2023, but experts are now warning of a potential mild recession or soft landing in 2024 as the year kicks off. A recent survey of economists by The Wall Street Journal shows a decrease in the likelihood of a recession in the next year from 48% in October to 39%.
However, economists predict a meager growth rate of only 1% in 2024, which is half its typical growth rate and a significan...
However, economists predict a meager growth rate of only 1% in 2024, which is half its typical growth rate and a significan...
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Morning Movers
Gapping up
$Instacart(Maplebear)(CART.US$ stock rose 3% after Wolfe Research upgraded the delivery company to outperform from peer perform, saying it can enhance efficiencies in logistics and advertising to foster healthy revenue growth.
$Charles Schwab(SCHW.US$ stock rose 1.2% after the broker's fourth-quarter profit beat expectations, although its revenue fell slightly short.
Gapping down
$Disney(DIS.US$ stock fel...
Gapping up
$Instacart(Maplebear)(CART.US$ stock rose 3% after Wolfe Research upgraded the delivery company to outperform from peer perform, saying it can enhance efficiencies in logistics and advertising to foster healthy revenue growth.
$Charles Schwab(SCHW.US$ stock rose 1.2% after the broker's fourth-quarter profit beat expectations, although its revenue fell slightly short.
Gapping down
$Disney(DIS.US$ stock fel...
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RECAP
US Stocks Retreat After Rallying in 2023
US stocks pulled back on the first trading day of the year, locking gains posted in 2023, as the Magnificent Seven stocks retreated.
A Bloomberg gauge of the seven stocks declined 1.7%, weighing on the S&P 500 and the Nasdaq that are heavily weighted to the tech giants. The $Nasdaq Composite Index(.IXIC.US$ fell 1.6% to close at 14,765.94, its biggest daily decline since October. The $S&P 500 Index(.SPX.US$ slipped 0...
US Stocks Retreat After Rallying in 2023
US stocks pulled back on the first trading day of the year, locking gains posted in 2023, as the Magnificent Seven stocks retreated.
A Bloomberg gauge of the seven stocks declined 1.7%, weighing on the S&P 500 and the Nasdaq that are heavily weighted to the tech giants. The $Nasdaq Composite Index(.IXIC.US$ fell 1.6% to close at 14,765.94, its biggest daily decline since October. The $S&P 500 Index(.SPX.US$ slipped 0...
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Information Technology maintained its lead in buybacks. The leading repurchases in 2023 were $Apple(AAPL.US$, $Alphabet-A(GOOGL.US$, $Meta Platforms(META.US$, $Microsoft(MSFT.US$ and $Exxon Mobil(XOM.US$. Apple topped all companies market-wide, as usual, with $61.19B in buybacks in 2023. For the 12 months ending in September 2023, Apple spent $83.0 billion on buybacks, down from the prior 12-month period's $95.6 billion. Over the five-year period Ap...
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