Oct 27, 2023: Google searches for “buy Bitcoin” have surged worldwide amid a major crypto rally, with searches in the United Kingdom growing by more than 800% in the last week. According to research from Cryptogambling.tv, the search term “buy Bitcoin” spiked a staggering 826% in the U.K. over the course of seven days. “The remarkable surge in ‘buy Bitcoin’ searches in the UK, combined with the cryptocurrency’s resurgence, underscores the growing interest and potential impact of traditional financial institutions’ involvement in the world of digital assets,” said a spokesperson from Cryptogambling.tv. While users in the U.K. led the pack,…
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Oct 24, 2023: Bitcoin rose 6% on Tuesday to to $35,198, its highest in nearly a year-and-a-half, on mounting speculation that an exchange-traded bitcoin fund is imminent. That followed a 10% surge on Monday, when bitcoin posted its best day in almost a year, and the bullishness spread across the wider crypto market and into related stocks. Any approval by the U.S. Securities and Exchange Commission (SEC) of an exchange-traded fund (ETF) that owns bitcoin on behalf of fund investors is predicted to fuel demand. A spot bitcoin ETF, the argument goes, would allow investors previously wary of crypto access…
Oct 24, 2023: U.S. stock futures edged higher Tuesday, as bond yields retreated ahead of the release of quarterly earnings from some major tech companies. By 06:20 ET (10:20 GMT), the Dow Futures contract was up 115 points, or 0.4%, S&P 500 Futures traded 20 points, or 0.5%, higher and Nasdaq 100 Futures climbed 95 points, or 0.6%. Yields fall back, easing pressure on stocksThe main indices on Wall Street closed in a mixed fashion Monday, as the benchmark 10-year U.S. Treasury yield traded above the closely followed 5% level before falling back. The broad-based S&P 500 fell 0.2% and…
Oct 24, 2023: Euro zone business activity took a surprise turn for the worse this month as demand fell in a broad-based downturn across the region, a survey showed, entering the fourth quarter on the wrong foot and suggesting the bloc may slip into recession. Tuesday’s purchasing managers’ survey will likely make disappointing reading for the European Central Bank, which meets on Thursday, and market pricing now suggests ECB President Christine Lagarde’s ‘higher-for-longer’ interest rate narrative may not last as some expect. HCOB’s flash euro zone Composite Purchasing Managers’ Index (PMI), compiled by S&P Global and seen as a good…
October 24, 20203: Global stocks steadied on Tuesday as a flicker of investor risk appetite lifted equities and commodities, although trading was cautious given the war in the Middle East and looming make-or-break data for the outlook for U.S. interest rates. Oil prices recovered some of the previous day’s losses as markets worried that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region. Bitcoin, which on Monday staged its biggest one-day rally in a year, with a gain of 10.2%, was up another 3%. The MSCI All-World index rose 0.1%, marking its first daily rise since…
Oct 23, 2023: Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas. Brent crude futures fell 24 cents, or 0.26%, to $91.92 a barrel, as of 0837 GMT. U.S. West Texas Intermediate crude futures were down 36 cents, or 0.41%, at $87.72 a barrel. Both benchmarks traded over $1 a barrel lower than their previous settlement price at their nadir in Monday’s session. The contracts rose by more than 1% last week for a second consecutive…
Oct 23, 2023: Japan’s yen weakened briefly on Monday to the 150-per-dollar level, as elevated U.S. Treasury yields kept the dollar supported across the board but without pushing it too much higher. Investors are waiting for several events this week, including the European Central Bank meeting, and the release of U.S. GDP data and the Federal Reserve’s preferred inflation gauge. Besides that, the risk of Israel’s war on the Islamist group Hamas becoming a wider regional conflict is keeping markets on edge, as Israeli air strikes battered Gaza early on Monday, and the United States dispatched more military assets to…
Oct 23, 2023: Bitcoin (BTC) saw its value rise to a multi-month high of $31,000 over the weekend, marking its fourth visit to this price level in 2023. This surge pushed the total crypto market cap to its highest since mid-August 2023, reaching $1.19 trillion. The bullish weekly close wiped out two months of losses and propelled Bitcoin’s dominance to over 52%, a level not seen since April 2021. MicroStrategy’s $4.6 billion Bitcoin investment also returned to profitability following an 11% weekly gain. Despite Bitcoin’s 2% daily gain overshadowing most altcoins after the FTX collapse/bottom at 15k, several altcoins recorded…
Oct 23, 2023: U.S. stock index futures started the week on a sour note as investors worried that the war between Israel and Hamas could turn into a bigger Middle Eastern conflict, while awaiting quarterly results from the world’s largest technology companies and some key economic data. Israel bombarded Gaza with air strikes overnight, with Prime Minister Benjamin Netanyahu convening a meeting of his top generals and his war cabinet to assess the escalating conflict. These rising tensions, along with surging bond yields on higher rates expectations pulled the Wall Street lower last week, with the S&P 500 falling 1.26%…
Oct 23, 2023: China’s move on Friday to curb exports of graphite, a key electric vehicle battery material, will only accelerate efforts to develop alternative sources and materials, but that will take time, industry executives and analysts said. China, the world’s largest graphite producer and exporter, will require export permits as of Dec. 1 for some graphite products, including spherical graphite used by automakers. It refines more than 90% of the world’s graphite into the material used in almost all EV battery anodes, which is the negatively charged portion of a battery. China’s decision may escalate trade disputes globally and…
