Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US stocks closed at a record high after data showed inflation had fallen slightly to 3.4 per cent in April, prompting traders to increase their bets on Federal Reserve’s interest rate cuts this year. The…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Berkshire Hathaway’s cash pile swelled to a record $189bn in the first quarter of 2024 as Warren Buffett’s sprawling conglomerate continued to dump stocks, including Apple, one of its largest positions. The figure underscores the…
The recently approved Hong Kong Bitcoin spot ETFs began trading today, but saw relatively low volume on their first day. The Hong Kong Securities and Futures Commission (SFC) approved 6 total spot Bitcoin and Ethereum ETFs last week. NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn — Bitcoin Magazine (@BitcoinMagazine) April 30,…
tadamichi Late December last year, I issued my first article on Trinity Capital Inc. (NASDAQ:TRIN), which focuses on providing debt and equipment financing to growth stage and smaller size companies. In terms of the typical investments, which TRIN offers to these companies, there is nothing extraordinary as the lion’s share of the portfolio consists of…
Richard Drury The Vanguard Information Technology ETF (NYSEARCA:VGT) is down over 7% over the past three weeks, which is equivalent to around 10 years of the ETF’s dividend yield. VGT has underperformed the return on cash since its 2021 peak, which marks a two and a half year period of zero excess returns, which included…
Hispanolistic/E+ via Getty Images Vehicle insurance premiums have gone through the roof. That comes as no surprise to families across the country. According to the March CPI report, the 3-month annualized rate soared to 26.7%. It was a material driver of the strong core services ex-housing CPI increase. A reshuffling in the auto insurance industry,…
Userba011d64_201 By Peter C. Earle The AIER Everyday Price Index saw its third largest increase in over a year in March 2024, shooting up 0.82 percent. That rise brings our proprietary inflation index to a new record high of 289.2, surpassing the previous high of 288.60 reached in September 2023. AIER Everyday Price Index vs….
bjdlzx While propane and butane are relatively familiar natural gas liquids (NGLs) given their use in consumer cooking applications, much of the global demand for NGLs actually stems from plastics manufacturing. As demand for plastics around the world has grown, so has the demand for NGLs as feedstocks. Given strong international demand, exports of NGLs…
Stocktrek/DigitalVision via Getty Images Overview General Dynamics (NYSE:GD) is a defense and aerospace company with global operations. Their I previously covered this dividend aristocrat back in September of 2023 and since then the total return has outperformed the S&P500 (SPY) by double. However, I still believe there to be ample price growth despite the new…
8vFanI Rising interest rates have been a boon to Business Development Companies, known as BDC’s, over the past 1 year-plus. Several of them have reported record earnings, including Golub Capital BDC (NASDAQ:GBDC), which saw 55% growth in Investment Income and 49% growth in Net Investment Income, NII in its fiscal year ending 9/30/23. 99% of…
Scott Olson BRK Is Near A Record Price If you have been following our writings, you must know that we have been rating Berkshire Hathaway Inc. (NYSE:BRK.B) as a Buy since 2022, when the stock was trading near the $160 price level. As seen in the figure below, we’ve argued in 2023 that it is…
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. With Bitcoin’s next halving set to take place this month, miners are using record profits to…
Spot bitcoin exchange-traded funds (ETFs) saw their trading volume surge to a record $111 billion in March, nearly triple the $42 billion traded in February. Approved earlier this year by the SEC, US spot bitcoin ETFs have rapidly gained traction among investors. Their volumes last month exceeded even the most optimistic expectations. NEW: #Bitcoin ETFs…
Bitcoin mining businesses generated their highest-ever monthly revenue in March, raking in over $2 billion in block rewards and transaction fees. This shatters the previous record of $1.74 billion set back in May 2021. JUST IN: #Bitcoin Miners hit a record $2 billion in monthly revenue, highest ever. Halving coming in hot in 2 weeks…
Scott Olson S&P 500 Closed At A Record In Q1 As we come to the end of the first quarter of 2024, it’s timely for us to assess the best opportunities ahead as we look ahead to Q2. Notably, the S&P 500 (SPX) (SPY) notched its best first quarter since Q1’19, as the market rose…
georgeclerk Just as stocks took a big leap into February, they are hopping into the Easter weekend with strong March gains under their belt. Investors’ baskets are full of winners no matter where you look. Egg-celent returns were seen in U.S. large caps – the S&P 500 (SP500, SPX, SPY) rallied more than 3%, while…
PM Images Heritage Global (NASDAQ:HGBL) is a distressed assets broker in physical and financial assets. I wrote about the company one year ago, with a Hold rating. At the time, I considered the stock price already discounted most positive developments and that the market was prone to disappointments, as one-time earnings from asset sales would…
Richard Drury There is no question that the Calamos Convertible & High Income Fund (NASDAQ:CHY) has proved very successful over the years, as evidenced by the fund’s performance versus the benchmark and the peer group. Such consistent results are reflected in a double-digit premium to NAV, as opposed to other convertible funds not managed by…
SimonSkafar Author’s Note: Since Keyera Corp. is reporting in Canadian Dollars, all numbers refer to Canadian Dollars (unless stated otherwise). Introduction I have written twice about Keyera Corp. (OTCPK:KEYUF)(TSX:KEY:CA). The first article was published on November 22, 2022, and the second on May 22, 2023. I expressed a neutral rating on Keyera both times. In…
Nigeria has taken drastic measures in to attempt to stabilize its plummeting national currency, the naira, by blocking access to major cryptocurrency exchanges, reported the Financial Times. This move comes as the Nigerian government attempts to crack down on currency speculation amid record lows for the naira. JUST IN: 🇳🇬 Nigeria blocks access to Coinbase,…
Wong Yu Liang/Moment via Getty Images Written by Nick Ackerman, co-produced by Stanford Chemist. The last time we touched on the Western Asset High Income Fund II (NYSE:HIX), I noted that the fund looked to be unappealing due to valuation. I highlighted a couple of potential opportunities that seemed a bit more attractive. That included…
Christian Adams/The Image Bank via Getty Images Investment Thesis Patria Investments (NASDAQ:PAX) is successfully executing an ambitious consolidation strategy of the Latin American alternative asset management landscape, delivering economies of scale through sustained AUM growth. Its recurring revenue base is set to be bolstered by significant performance fees as the capital markets’ environment recovers, driving…
John Greim/LightRocket via Getty Images Arch Capital Group (NASDAQ:ACGL) is a multinational insurer with operations in North America, Bermuda, and Europe. With strong operating results over many years, even the challenging years of 2022, the company has experienced strong growth and, consequently, a bold rally in its price over the course of 2023. I’m going…
ozgurdonmaz Apple (NASDAQ:AAPL) reported its Q1 FY24 results on February 1st, 2023, after the market close. I provided a ‘Buy’ rating in my previous coverage, highlighting the growth momentum in their service business. Their service revenue grew by 11.3% in the quarter, reaching an all-time record. I maintain a “Buy” rating with a fair value…
Ratana21 The data sourced in the article below is derived from Lipper’s Global Fund Flows application. GFF can be found on LSEG Workspace (“FundFlows”). During LSEG Lipper’s fund-flows week that ended January 31, 2024, investors were overall net purchasers of fund assets (including both conventional funds and ETFs) for the second week in three, injecting…
SeventyFour Just over six months ago, I wrote on Calibre Mining (OTCQX:CXBMF), noting that while the company continued to over-deliver on promises, there was no way to justify chasing the stock above US$1.18. This is because the stock had found itself over-extended heading into the worst seasonal stretch of the year, with the GDX often…
8vFanI Wall Street celebrated on Friday when the S&P 500 Index, the most popular benchmark of US shares, closed at a record high for the first time in more than two years. The celebration, however, was an outlier as the rest of the major asset classes continued to trade below previous peaks in varying degrees,…
bluebay2014 By Brian Levitt, Global Market Strategist The S&P 500 Index hit a new record.1 We did it! And also… what do we do now? Here’s what stock market highs mean – and don’t mean – for long-term investors. A world of change since the last market high Admittedly, the prior peak in January 2022…
anouchka Thesis Gabelli Global Deal Fund (NYSE:GDL) is a closed-end fund that is part of famed value investor Mario Gabelli’s GAMCO investment complex. GDL has a long track record of outperforming its benchmark via expert management using a niche investment style. Despite strong performance, GDL trades at a 20% discount to NAV. GDL invests in…
jetcityimage Listen below or on the go on Apple Podcasts and Spotify Cummins (CMI) to pay record $1.675B civil penalty in vehicle test cheating settlement. (00:26) iRobot (IRBT) plunges to session lows amid report Amazon (AMZN) won’t offer remedies in Europe. (01:41) SEC at long last approves spot bitcoin ETFs. (02:25) This is an abridged…
MarsBars Written by Nick Ackerman, co-produced by Stanford Chemist. Barings Corporate Investors (MCI) is a fund that invests primarily in the private high-yield market. In particular, with significant exposure to floating rate securities and has been benefiting from that through higher income-generation. That has led to the fund increasing its distribution regularly over the last…
-aniaostudio- As explained in Prof. Robert Jarrow’s book cited below, forward rates contain a risk premium above and beyond the market’s expectations for the 3-month forward rate. We document the size of that risk premium in this graph, which shows the zero-coupon yield curve implied by current Treasury prices compared with the annualized compounded yield…
Blast’s growth in TVL is indicative of most institutional investors’ bullish stance for Ethereum and the DeFi market. In a breakthrough moment for Layer 2 (L2) scaling solution, Blast Network, a new record has been set, surpassing a Total Value Locked (TVL) of over $900 million. Data from DefiLlama, a leading authority in monitoring and…
The three major indexes, the S&P 500, the Dow, and the Nasdaq are enjoying a continued rally as the market hopes for rate cuts. The S&P 500, the Nasdaq, and the Dow Jones Industrial Average (DIJA) all closed higher, maintaining streaks of continuous increases. The Nasdaq hit 14,904.81 after adding 0.61%, while the Dow added…
Relai, a Swiss Bitcoin exchange, has disclosed with Bitcoin Magazine that a staggering 75% of its Over-The-Counter (OTC) revenue in the final quarter of 2023 stemmed from private clients diverting proceeds from real estate sales into Bitcoin, showcasing a seismic shift in investment strategies among investors. The surge is a response to the real estate market’s…
Lemon_tm Fundamentals: Gold prices have recently surged to near all-time highs due to a more dovish stance from the Federal Reserve, which has attracted investors to gold. GOLD DAILY (TOS) Consumer Price Index (CPI) data released during the week met expectations, resulting in a subdued market response across various assets, including gold. Gold initially dipped…
The number of daily transactions on the Litecoin network reached an all-time high of 1.09 million on November 14, surpassing even Bitcoin’s transaction count of around 523,284 at the same time. In a remarkable turn of events, the Litecoin (LTC) network has experienced an impressive surge in active addresses, achieving a new all-time high merely…
The Deribit exchange has recorded a new yearly high for Bitcoin perpetual futures open interest, a record not seen since BTC’s ATH. The amount of open interest in Bitcoin perpetual futures on the Deribit derivatives exchange has hit a new high of $740 million. This impressive level was last seen in November 2021 when Bitcoin…
The Forbes Under 30 List, including all categories and individual profiles are available on the Ethereum blockchain for permanence. Forbes has announced the launch of its annual Under 30 list on the Ethereum blockchain. The announcement represents news of the first time a publication like this is launching on the blockchain and is a pointer to the…
CentralITAlliance Stock prices continued to grind higher the day before Thanksgiving in what is becoming one of the best Novembers on record for the S&P 500. My only concern is that we’re stealing our Santa Claus rally before December even starts. Oil prices continue to ease, along with bond yields, which is further supporting the…
Bitcoin and altcoins climbed over the last 24 hours, with a 6% rise in the king coin, and larger increases in altcoins. Bitcoin recorded a nearly 6% rise from yesterday, currently trading at nearly $37,600 as of this writing. The king coin’s jump is interesting, considering it fell below $35,000 on Tuesday. At some point during…
Market analysts believe the new updates released by OpenAI significantly contributed to the rise of Microsoft (MSFT) shares. Microsoft Corporation (NASDAQ: MSFT), a global technology powerhouse, witnessed a remarkable surge in its share price, achieving unprecedented heights for the first time since 2021. On November 7, the company’s shares ended the trading session at a…
MTStock Studio/E+ via Getty Images Listen below or on the go on Apple Podcasts and Spotify Credit card debt hits new record, delinquencies rise most among millennials. (00:23) CarGurus (CARG) to fully acquire online car dealership CarOffer for $75M. (01:27) Virgin Galactic (SPCE) cuts jobs to support Delta spaceship production. (02:04) This is an abridged…
The Bitcoin network has set a new historic mining hashrate record as the market prepares for next year’s halving. The hashrate for Bitcoin hit a record high on Saturday, cresting at 543 EH/s at 8:00 am GMT. This beat the 525 EH/s recorded on the 7th and 10 of October. The current high puts the…
The ripple effect of the Chinese market plunge has extended to other major Asian markets, with Japan’s Nikkei 225 and South Korea’s Kospi also experiencing declines. China’s stock market has hit a significant low not seen since the pre-pandemic era, rattling investors as the country grapples with various economic challenges and regulatory scrutiny. The country’s…
The Q3 figures for 2023 show that American Express pulled in record revenue despite increased expenses especially with customer engagements. Credit card giant American Express (NYSE: AXP) has published its revenue report for Q3 of 2023, pointing to record revenue for six consecutive quarters. According to an official press release, the company’s total revenue net of interest expense…
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. The Lightning Network, a node-based payment protocol designed to solve Bitcoin’s solvability problem, has shattered all…
Google Play accounted for 9 million ChatGPT downloads in September, while the other 6.6 million were recorded by the App Store. The total number of ChatGPT downloads has hit 52.2 million. OpenAI’s chatbot ChatGPT has seen a record growth in downloads in September, which brought the revenue generated by its mobile app to $4.58 million….
RHJ Introduction Fortuna Silver Mines (NYSE:FSM) released its third-quarter 2023 production results on October 5, 2022. Note: This article updates my May 19, 2022, article. Fortuna Silver Mines owns five production mines, including the Séguéla Mine in the Ivory Coast, which started to produce on May 24, 2023. FSM Map Assets (FSM Presentation) Third Quarter…
Abu Hanifah The data sourced in the article below is derived from Lipper’s Global Fund-Flows application which may differ slightly from the Lipper U.S. Fund-Flow data due to timing and methodology. This new application can be found on LSEG Workspace. During LSEG Lipper’s fund-flows week that ended October 4, 2023, investors were overall net purchasers…