Jerome Powell flipped the script

menu icon

Federal Reserve Board Chairman Jerome Powell holds a news conference following a Federal Open Market Committee meeting at the Federal Reserve on March 22, 2023 in Washington, DC. Alex Wong | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors … Read more

Insiders say BTC could test new highs in 2023

menu icon

Bitcoin has rallied nearly 70% so far this year — and industry insiders who spoke to CNBC remain bullish, with one saying the world’s biggest cryptocurrency could reach new heights. Marshall Beard, chief strategy officer at U.S.-headquartered cryptocurrency exchange Gemini, said $100,000 could be a possibility for bitcoin. Part of the industry’s positive view on … Read more

GameStop Stock Had Its Best Day Since 2021. Surprise Earnings Squeezed Shorts.

GameStop's Earnings Surprise Is Squeezing Shorts. Meme Stocks Are Rallying.

GameStop ‘s first profitable quarter since January 2021 sent the stock surging. GameStop stock (ticker: GME) rose 35% to $23.87 on Wednesday. Shares traded at $27 earlier in the session. The gain was GameStop’s largest percentage increase since March 25, 2021, when it rose 53%, according to Dow Jones Market Data. On Tuesday evening, the … Read more

First Republic Bank Explores Options, Including Sale. The Stock Is Up.

First Republic Stock Falls Despite $30 Billion Big Banks Rescue Package

The bank has hired advisors Lazard (ticker: LAZ) and McKinsey & Co. as it explores options including a sale or trimming assets, a person familiar with the matter told Barron’s. News of Lazard’s involvement was reported earlier by The Wall Street Journal. Wall Street CEOs and U.S. officials are exploring the possibility of government backing … Read more

GameStop’s Earnings Surprise Is Squeezing Shorts. Meme Stocks Are Rallying.

GameStop's Earnings Surprise Is Squeezing Shorts. Meme Stocks Are Rallying.

GameStop ‘s first profitable quarter since January 2021 sent the stock surging. The move is squeezing short sellers and lifting AMC Entertainment and Bed Bath & Beyond shares, too. GameStop stock (ticker: GME) was up 33%, at $23.56, in recent trading, paring some gains seen in premarket trading. On Tuesday evening, the company reported earnings … Read more

5 things to know before the stock market opens Wednesday, March 22

menu icon

The Fed is expected to raise its benchmark rate. Google releases its AI product Bard for testing. Nike sees momentum in China after a Covid-driven slump. Here are the most important news items that investors need to start their trading day: Decision day is here. Will the Federal Reserve raise its benchmark rate by another … Read more

UK inflation rate breaks 3-month stretch of declines with surprise rise to 10.4%

menu icon

British households continue to contend with high food and energy bills, while workers across a range of sectors have launched mass strike action in recent months. The Bank of England has been hiking interest rates aggressively in a bid to rein in inflation and will announce its latest monetary policy decision on Thursday. U.K. inflation … Read more

Japan stocks higher around 2%, leading gains in Asia ahead of Fed’s key rate decision

menu icon

3 Hours Ago Healthcare and consumer cyclicals lead Hang Seng higher The Hang Seng index led gains in the Asia-Pacific region on Wednesday, powered by health-care and consumer cyclical stocks. Shares of Geely saw the biggest moves, up 7.16% after the automaker posted a 45.6% year on year gain in revenue for the whole of … Read more

Crypto firms look to Swiss lenders after Silvergate, Signature Bank fail

menu icon

Cryptocurrency firms are scrambling to find institutions to bank with after the collapse of Signature Bank and Silvergate Capital. These companies have turned to crypto-friendly Swiss banks, flooding them with requests for banking services, according to multiple industry insiders who spoke to CNBC. Part of why companies are seeking out Swiss banks is the country’s … Read more

Bitcoin Prices Slips. The Fed Decision Will Be a Key Moment for Cryptos.

5 Reasons Bitcoin's Price Is Soaring Amid the Bank Panic. One Is Key for Stocks.

Bitcoin and other cryptocurrencies settled lower Tuesday after a rally that carried digital assets to their highest point since last summer. While the Federal Reserve decision Wednesday is the next key catalyst, cryptos show signs of fundamental strength. The price of Bitcoin has fallen 2% over the past 24 hours to $27,750 after the largest … Read more