market
New York (AFP) - Shares of social media company Reddit soared nearly 50 percent on the New York Stock Exchange Thursday in a buoyant market debut that raised hopes about the IPO market. The company, which trades under the ticker RDDT, finished at $50.44, up 48.4 percent from its initial public offering price, lifting the valuation to around $8 billion. The hot trading debut came after the company's IPO priced at the upper end of the range, raising a bit more than $500 million. Market watchers were not sure what to expect from Thursday's start given Reddit's record of annual losses and skeptici...
AFP
New York (AFP) - Gold prices and bitcoin hit all-time highs Tuesday before paring some gains, while a sell-off in some tech stocks led to a slump in many stock markets around the world. On Wall Street, the Dow and the S&P 500 both finished 1.0 percent lower, while the tech-rich Nasdaq composite ended the day down 1.7 percent, pulled down by firms including Apple and Tesla. Despite the gloomy trading day in New York, US stock indices are still up sharply on the year. Kurt Spieler, chief investment officer at FNBO, told AFP he thinks US markets can still climb slightly higher in the short term, ...
AFP
Washington (AFP) - The status of the US dollar as the world's reserve currency is likely to continue, despite threats posed by China's rise and the growth of cryptocurrencies, a US Federal Reserve official said Thursday. The dollar continues to be the most widely used currency for international transactions, and is top among the notes held by foreign investors as a store of value, Fed Governor Christopher Waller told a conference in the Bahamas, according to prepared remarks. "By standard measures of an international currency's use, there has not been any notable erosion in the dollar's domina...
AFP
Bitcoin (BTC) is expected to reach a new record at $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report. The cryptocurrency's current price sits at around $43,000. UK fintech firm Finder carried out a study based on expert price predictions of 40 crypto industry specialists on how Bitcoin would perform through 2030. It found that Bitcoin will likely hit an average peak price of $87,875 in 2024, with some experts surveyed predicting it will climb as high as $200,000. On the flip side, the average lowest price Bitcoin could hit by ...
Euronews (English)
For centuries, Rome has captivated the world’s imagination. Its rich history and iconic landmarks, such as the Colosseum and Roman Forum, continue to inspire visitors. But to truly experience the Italian capital, you need to delve deeper. “There’s more to the city than just the Trevi Fountain and Spanish Steps. I recommend you get lost in its side streets and alleys,” says historian Alexander Mariotti. “Rome is a magical, mysterious and intoxicating city that never ceases to surprise you.” Half-British, half-Italian, Alexander lives between Rome and London. His extensive knowledge of the Itali...
Euronews (English)
New York (AFP) - US securities regulators gave the green light Wednesday to a group of bitcoin exchange-traded funds, a keenly anticipated decision expected to boost the cryptocurrency. Regulators approved proposals for 11 ETFs to list on leading exchanges including the New York Stock Exchange "on an accelerated basis," the Securities and Exchange Commission said in a 22-page order. ETFs are traded on public markets, granting investors exposure to price movements in asset prices without taking direct ownership of the underlying assets. The funds themselves, however, do invest in the digital cu...
AFP
Successfully marketing your business is a challenge regardless of economic uncertainty. But when its overall performance doesn’t look like it’s going to trend upward, this uncertainty can make you sweat. Your marketing dollars must work harder, while your creative campaigns really need to hit the mark with your audience. Simply put, there is less room for error. If it’s any comfort, even the greats don’t get it right every time. But that doesn’t mean you want to throw caution to the wind when you’re unsure how the economy will perform. Uncertainty leads to anxiety for consumers, too. They star...
Due
New York (AFP) - US oil prices finished below $70 a barrel for the first time since July on Wednesday on a mixed day for global equities, as traders pondered hopes for interest rate cuts from the European Central Bank and the US Federal Reserve. West Texas Intermediate oil for delivery in January fell 4.1 percent to finish at $69.38 a barrel. The drop came as markets eyed signs of weakening demand amid skepticism that the OPEC + coalition's efforts will meaningfully restrain supply. Analysts have begun to consider the possibility that Saudi Arabia could abruptly decide to open the spigots, re...
AFP
New York (AFP) - A prolonged drought is shrinking livestock herds and driving beef prices to record highs in the US, even as consumption is growing stronger. These days, Mary Skinner is finding it harder to get her daily meat intake. "I have extreme need for protein and I need to eat meat that my doctor ordered," said the 69-year-old shopper outside Grand Central Market, in New York. "I used to be able to sometimes buy ribeye steak but... I'm now eating a lot more ground beef." The headline rate of inflation has slowed in recent months, with a 3.7 percent reading in September, year over year. ...
AFP
New York (AFP) - The surge in US treasury yields has sparked much anxiety among investors, in part because there is no easy explanation for the rise. On Friday, the yield on the 10-year US Treasury note climbed to 4.88 percent for the first time since 2007, while the 30-year offering reached 5.05 percent, also a 16-year peak. Both have edged back in recent days, due mainly to elevated geopolitical risk, analysts say, although yields remain high. The most oft-cited justification for the rise has been expectations that monetary policy will stay hawkish in response to the resilient US economy. "T...
AFP
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