Monthly Archives: June 2023
Stock futures slip, but Wall Street looks toward winning week: Live updates
(CNBC) Stock futures inched lower Thursday night as investors shifted focus from the Federal Reserve policy meeting earlier in the week to the next piece of economic data due Friday morning. Futures tied to the Dow Jones Industrial Average lost […]
Microsoft’s stock hits record after executives predict $10 billion in annual A.I. revenue
(CNBC) Microsoft shares climbed to a record Thursday after analysts at JPMorgan Chase touted the software maker’s growth prospects in artificial intelligence. The stock rose 3.2% to close at $348.10, topping its prior all-time high reached in November 2021, the […]
BlackRock files for spot bitcoin ETF, with Coinbase as a crypto custodian
(CNBC) Asset management giant BlackRock took the first steps Thursday to launch a spot bitcoin exchange-traded fund, which has long been a point of contention between crypto advocates and federal regulators. The firm filed an application with the U.S. Securities […]
Fed holds off on rate hike, but says two more are coming later this year
(CNBC) The Federal Reserve on Wednesday decided against what would have been an 11th consecutive interest rate increase as it measures what the impacts have been from the previous 10. But the decision by the Federal Open Market Committee to […]
Fed recap: Breaking down the market’s reaction to the Fed’s pause and all of Powell’s key comments
(CNBC) The Federal Reserve held rates steady in June, keeping the benchmark funds rate at a range of 5% to 5.25%. However, the central bank’s dot plot indicated that two more hikes are ahead. At his press conference, Fed Chair […]
Oracle hits record after 50% surge in 2023, defying tech struggles
(CNBC) Oracle is having a moment. For years, the database software developer lagged behind tech rivals in building cloud technology that met the demands of the modern-day enterprise. But that’s changing, and Wall Street is quite pleased with what it […]
Stock futures are little changed after Fed skips rate hike but indicates more ahead: Live updates
(CNBC) U.S. stock futures were roughly flat after the Federal Reserve skipped a rate hike at its meeting that ended Wednesday, but signaled two more rate hikes may still be in store later this year. Dow Jones Industrial Average futures […]
Diablo IV crosses $666 million in sales in five days, a record for Activision’s Blizzard
(CNBC) Activision Blizzard’s new Diablo video game broke $666 million in global sales in the span of five days, the company said Wednesday. Diablo IV, which launched June 6, has become Activision subsidiary Blizzard Entertainment’s fastest-selling game ever, the company […]
Odey gates funds as investors look to exit
(Hedgeweek) Odey Asset Management (OAM) is shuttering one fund and restricting withdrawals from two others as it battles the fallout from the allegations of sexual misconduct made against founder Crispin Odey last week, according to a report by Reuters. To […]
Cava prices IPO at $22 per share, above stated range
(CNBC) Mediterranean fast-casual restaurant chain Cava priced its initial public offering at $22 per share, above a previously stated range, the company said Wednesday. Cava said it sold 14.4 million shares, which at a price of $22 per share, raises […]
SEC Charges Financial Advisor with Fraud for Stealing from Elderly Customers to Pay Personal Expenses
(HedgeCo.Net) The Securities and Exchange Commission has charged Douglas McKelvey, a former financial advisor with fraud for misappropriating more than $1.7 million from two elderly brokerage customers who were close relatives of McKelvey’s. The SEC’s complaint alleges that from June […]
Hudson Bay expands to Dubai
(Hedgeweek) Hudson Bay Capital Management, a multi-strategy hedge fund firm with around $20 billion in assets, has become the latest manager to open an office in Dubai following the likes of Millennium Management, Balyasny Asset Management and ExodusPoint Capital Management, […]