Author: News Room

While Coinbase Global should benefit from a big upgrade to the Ethereum blockchain network this week, there is a risk: The part of the business that stands to gain has already attracted scrutiny from regulators. Even though Bitcoin prices just surged past $30,000 for the first time since June, the attention of many crypto traders is on Ether, the second-largest digital asset and the token underpinning the Ethereum blockchain network. Ethereum’s overhaul, known as the Shanghai upgrade, is the biggest change to the ecosystem since the Merge last year. In the Merge, Ethereum was transformed from an energy-intensive “proof of…

Netflix is going through a period of change, and that could cause its coming earnings to leave investors wanting more. One Citi analyst says now is not the time to panic. Netflix (ticker: NFLX) is scheduled to report first-quarter earnings on April 18. Investors are going to look for clarity on the company’s next steps regarding rules on password sharing, global price cuts, and the success of the new, lower-priced subscriber tier that features adverts. In November, Netflix launched its ad-tier to users in the U.S. This gives subscribers the option to stream their favorite shows, such as Bridgerton, with…

Republican Sen. Lindsey Graham said Tuesday he had a “very productive” meeting with Saudi Crown Prince Mohammed bin Salman, whom he previously criticized following the murder of journalist Jamal Khashoggi. “I just had a very productive, candid meeting with the Saudi Crown Prince and his senior leadership team. The opportunity to enhance the U.S.-Saudi relationship is real and the reforms going on in Saudi Arabia are equally real,” Graham tweeted. Graham, in a three-part tweet, said he looked forward to working with the Biden administration and Congress to “see if we can take the U.S.-Saudi relationship to the next level,…

Wall Street stocks gained ground and Treasuries rallied on Wednesday after closely watched US inflation data fell slightly more than expected, easing pressure on the Federal Reserve to keep raising interest rates. The benchmark S&P 500 rose 0.6 per cent in early trade, with technology and basic material stocks among the best performers. The tech-heavy Nasdaq Composite added 0.7 per cent shortly after the New York open. The moves in equity markets came as traders reacted to the latest US consumer price index report from the Bureau of Labor Statistics. Data on Wednesday showed headline annual inflation slowing from 6…

Investment Thesis Meta Platforms, Inc. (NASDAQ:META) has substantially outperformed the market, returning more than 130% in the past five months, and while some investors might rush to book profits, I see a prolonged bull run for the stock throughout 2024. I maintain a sizable position in META in my personal and model portfolios, with no plans to sell anytime soon as my strong bullish rating is reaffirmed. My target price for the stock is $300 for the next 12-18 months, supported by valuation tailwinds due to positive developments with the TikTok case, increased efficiency from the leaner business model, and…

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As investors are intensifying their efforts to move crypto to personal wallets, market observers interpret the latest trend as an indication of a lower ‘sell pressure’ on bitcoin (BTC), according to a recently drafted note by analysts from Bank of America (BofA). During the week through April 4, a period which showed the second-largest net BTC outflow from cryptocurrency exchanges this year, a net $368m worth of the top crypto was transferred to personal wallets, BofA strategists Alkesh Shah and Andrew Moss wrote in a note obtained by Bloomberg.“Investors transfer tokens from exchange wallets to their personal wallets when they intend…

The pace of US consumer price increases continued to cool down in March from last summer’s scorching-hot levels: Annual inflation, as measured by the Consumer Price Index, dropped for the ninth consecutive month, the Bureau of Labor Statistics reported Wednesday. Prices rose 5% for the 12 months ended in March, down from 6% in February. It’s the smallest 12-month increase since May 2021. On a monthly basis, CPI, which measures price changes over time for a basket of goods, ticked up 0.1% from February, as compared to a previous 0.4% increase. Shelter costs were the largest contributor of the monthly…

Today’s housing market is so pricey that homebuyers are highly sensitive to any distinct moves in mortgage rates. And that’s what happened last week. Rates dropped, and buyers dove in.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.30% from 6.40%, with points decreasing to 0.55 from 0.59, including the origination fee, for loans with a 20% down payment, according to the Mortgage Bankers Association. That was a weekly average decline, but a sharper, one-day drop smack in the middle of the week was likely the impetus for demand.”Incoming data last…

It’s going to be tough for the Federal Reserve to beat inflation without declines in the auto and housing industries, CNBC’s Jim Cramer said on Tuesday.When the Fed raises interest rates, investors typically expect the housing, auto and retail industries to suffer. But that hasn’t been the case during this economic cycle, partially due to persistent supply chain issues, he said. related investing news”You want to break the back of inflation, you need to break the back of the auto and housing industries,” Cramer said. “Unfortunately, the Fed has failed in doing so — and it didn’t even matter that a…