Tether’s CEO, Paolo Ardoino, recently updated the public on the company’s Bitcoin and other asset reserves via the platform X. Ardoino stated that Tether holds over 82,000 Bitcoin (BTC), valued at approximately $5.8 billion based on the current Bitcoin price of $72,433. Tether’s Reserves: Bitcoin, U.S. Treasury Bonds, and Gold Besides its substantial Bitcoin holdings, […]
Today’s Stocks to Watch: Alphabet, Reddit, and Snap
Key points: Alphabet Gains from AI Expansion (GOOGL) Alphabet, Google’s parent company, reported a 15% revenue growth last quarter, with AI fueling substantial growth in its cloud computing segment. Shares rose by over 6% in pre-market trading. AMD Declines on Lower Revenue Outlook (AMD) Advanced Micro Devices saw its shares drop by 8% in pre-market […]
U.S. Stock Markets Rise, Alphabet Rallies on Positive Results
U.S. stock and index markets rose on Wednesday, buoyed by Alphabet’s gains after the tech giant reported better-than-expected earnings, setting a positive tone for upcoming tech sector earnings. On Tuesday, Wall Street indexes closed with mixed results as investors flocked to tech stocks, while most other sectors lagged. The Nasdaq Composite Index rose by 0.8%, […]
Dollar Slows Gains on Jobs Data, Euro Gains on German GDP
The U.S. dollar eased from recent highs on Wednesday, pausing its rally as markets awaited key macroeconomic data that could impact expectations for Federal Reserve rate cuts. Dollar Eases Amid Labor Market Data The dollar has strengthened recently, bolstered by signs of economic resilience that have led traders to reconsider the pace of Federal Reserve […]
Daily technical analysis EUR/USD: Slight Rise Above 1.0800 Ahead of U.S. & Eurozone GDP, German Inflation Data
The EUR/USD pair’s gains remain limited, with uncertainty prevailing ahead of the U.S. presidential election and critical economic data from the U.S. A potential Trump victory is seen as a possible dollar-strengthening factor, with the market currently pricing in a 60% probability for a Republican win, which could ease downward pressure on the EUR/USD in […]
Canadians Reluctant to Adopt Digital Dollar, Says Bank of Canada
Research by the Bank of Canada has shown mixed views on the adoption of a Canadian digital dollar. Canadian consumers expressed skepticism about early adoption of a central bank digital currency (CBDC) introduced by the Bank of Canada. A research paper released by the Bank on October 28 highlighted Canadians’ long-standing preference for traditional payment […]
Today’s Stocks to Watch: PayPal, Ford, and Pfizer
Key points: PayPal (PYPL) Drops After Disappointing Results PayPal’s quarterly revenue slightly missed expectations, with lower-than-anticipated forecasts weighing on the stock. Shares were down more than 5% in premarket trading. Pfizer (PFE) Rises on Strong Earnings Pfizer shares rose 2% premarket after quarterly earnings and sales beat estimates. The company also raised its annual forecast, […]
US Stock Markets Steady Ahead of Key Economic Data and Tech Earnings
U.S. stock markets and indices remained stable on Tuesday after a positive session on Wall Street, with investors bracing for a week filled with earnings reports and crucial economic data. On Monday, Wall Street indexes posted slight gains, remaining near all-time highs. The Dow Jones Industrial Average led with a 0.7% rise, while the S&P […]
Dollar Stabilizes Amid Upcoming Key Economic Data
The U.S. dollar held firm on Tuesday as markets awaited a series of critical economic data releases this week, while Japan’s yen hovered near three-month lows amid heightened political uncertainty. Upcoming Data Releases Hold Market Attention The dollar has recently been supported by economic indicators highlighting the resilience of the U.S. economy, leading investors to […]
Outlook for the Week of October 28 – November 1
Key points to watch out for: All Eyes on U.S. Data as the Fed Turns Hawkish In September, the Federal Reserve’s unexpected decision to cut rates by about 50 basis points appears to linger in the market’s memory, as policymakers have now taken a more hawkish stance. U.S. economic indicators since the September meeting have […]