Freeman H. Shen, Founder, Chairman & CEO of WM Motor, speaks during Fireside Chat on Day 2 of CNBC East Tech West at LN Garden Hotel Nansha Guangzhou on November 28, 2018 in Nansha, Guangzhou, China. Dave Zhong/Getty Images for CNBC International BEIJING — Covid-related restrictions have increased production costs for Chinese electric car start-up
Finance
In this article HOOD Photo Illustration by Pavlo Gonchar SOPA Images | LightRocket | Getty Images Robinhood is planning to roll out a feature to let its millions of clients trade stocks well outside of normal market hours. “We’re also close to delivering a feature that our customers have been asking for: an ever larger
People wear protective masks as they stand outside of the China Securities Regulatory Commission (CSRC) in the Financial Street on April 17, 2020 in Beijing, Emmanuel Wong | Getty Images News | Getty Images BEIJING — China’s forthcoming rules on overseas IPOs will apply to Chinese companies that want to list in Hong Kong, the
In this article AAPL CVX CAT VFC V MDLZ Check out the companies making headlines before the bell: Caterpillar (CAT) – Caterpillar earned an adjusted $2.69 per share for the fourth quarter, beating the $2.26 consensus estimate, with revenue also coming in above analyst forecasts. The heavy equipment maker’s sales were up 23% from a
Nobel Prize-winning economist Paul Krugman. Panayiotis Tzamaros | ullstein bild via Getty Images Nobel Prize-winning economist Paul Krugman has given an ominous warning about the volatile cryptocurrency market, comparing it to the subprime mortgage crisis of the late 2000s. In an opinion piece for The New York Times on Thursday, Krugman said he’s “seeing uncomfortable
Logo on an Apple store is seen in Arlington, Virginia, January 27, 2022. Joshua Roberts | Reuters Check out the companies making headlines in midday trading. Apple — Shares of the tech giant jumped more than 5% following a strong quarterly report that showed its largest single quarter in terms of revenue ever. Apple beat analyst estimates
Coinbase launched its own debit card in an effort to promote the use of cryptocurrencies in payments as well as investing. Coinbase Visa said during its recent earnings call that customers made $2.5 billion in payments with its crypto-linked cards in its fiscal first quarter of 2022. That was 70% of the company’s crypto volume
In this article .IXIC A conceptual image showing stock exchange numbers and flames. Sean Gladwell | Moment | Getty Images After a blockbuster year for venture capital deals, some investors worry the boom times may not last much longer. Tech start-ups raised a record $621 billion in venture funding globally in 2021, according to CB
Traders on the floor of the NYSE, Jan. 26, 2022. Source: NYSE Stock futures rose in overnight trading Thursday, boosted by a jump in Apple shares, as Wall Street looks to wrap up a roller-coaster week on a high note. Futures on the Dow Jones Industrial Average gained 200 points. S&P 500 futures climbed 0.8%
NurPhoto | NurPhoto | Getty Images One hedge fund got the GameStop trade just about perfectly right last year — buying it under $10 and selling when the meme stock peaked. The sell signal it used? An Elon Musk tweet. That’s how 2021’s top-performing hedge fund Senvest Management was able to notch $700 million in
Statues stand outside a Deutsche Bank AG branch in Frankfurt, Germany. Krisztian Bocsi | Bloomberg | Getty Images LONDON — Deutsche Bank on Thursday defied market expectations to post a profit for the fourth quarter of 2021, as investment bank revenues rose. The German lender said profit attributable to shareholders came in at 145 million
Traders work on the floor of the New York Stock Exchange (NYSE) on January 18, 2022 in New York City. Spencer Platt | Getty Images Stock futures rose on Wednesday night after Federal Reserve chairman Jerome Powell provided an update on the central bank’s plans to raise rates, saying there’s “quite a bit of room”
Facing both turbulent financial markets and raging inflation, the Federal Reserve on Wednesday indicated it could soon raise interest rates for the first time in more than three years. In a move that came as little surprise, the Fed’s policymaking group said a quarter-percentage point increase to its benchmark short-term borrowing rate is likely forthcoming.
Sam Bankman-Fried, co-founder and chief executive officer of FTX, in Hong Kong, China, on Tuesday, May 11, 2021. Lam Yik | Bloomberg | Getty Images FTX U.S., the American affiliate of cryptocurrency exchange FTX, said Wednesday it has raised $400 million in its first external fundraising round. The investment gives FTX U.S. a valuation of
Stock futures were little changed Tuesday night, following another wild session for the market. Dow Jones Industrial Average futures dropped 70 points, or 0.2%. S&P 500 futures dipped 0.2%, and Nasdaq 100 futures were off by less than 1%. Microsoft shares rose 1% in after-hours trading, after the company issued better-than-expected quarterly revenue guidance. Earlier,
Scott Eells | Bloomberg | Getty Images Check out the companies making headlines in midday trading. General Electric — Shares fell more than 6% after the company missed revenue estimates for the fiscal fourth quarter. The conglomerate reported 92 cents in adjusted earnings per share on $20.3 billion in revenue. Analysts surveyed by Refinitiv were
In this article BTC.CM= Two commemorative bitcoins pictured in front of a Tesla car during cold weather on Jan. 7, 2022. Artur Widak | NurPhoto via Getty Images As cryptocurrency investors reel from the sharp sell-off in bitcoin and other digital currencies, some fear the worst is yet to come. Bitcoin, the world’s largest virtual
Investors may be playing with fire. According to Morgan Stanley’s Mike Wilson, the S&P 500 is vulnerable to a 10% plunge despite Monday’s late buying binge. He warns investors are dangerously downplaying a collision between a tightening Federal Reserve and slowing growth. “This type of action is just not comforting. I don’t think anybody is
In this article GS GSBD The Marriner S. Eccles Federal Reserve building in Washington, D.C., on Friday, Sept. 17, 2021. Stefani Reynolds | Bloomberg | Getty Images The current slide in the stock market may be spooking some investors, but it’s seen as unlikely to scare Federal Reserve officials enough to deviate from their current
Consumers linger outside a Haikou duty free shop at Riyue Square, Haikou City, Hainan Province, China, on September 2, 2021. Wang Jianfeng | Future Publishing | Getty Images BEIJING — Chinese consumers are spending more on luxury goods at home, even if they can’t easily travel abroad due to pandemic-related restrictions, consultancy Bain & Company