JPMorgan has downgraded Coinbase to underweight, citing the disappointing performance of Bitcoin ETFs. The launch of spot bitcoin ETFs last year was expected to lead to a new era for cryptocurrencies, with mainstream money expected to flood the space. However, the bank cut its rating to underweight from neutral, with …

Crude oil prices surged on the energy markets after US supplies fell more than anticipated. The US’s crude stockpiles saw a sharp decline, but refined petrol saw an increase, according to the EIA. Logistics for crude oil were hindered by the cold, but demand is predicted to rise due to …

A $3 billion arbitration lawsuit has been made against Bulgaria by cryptocurrency lender Nexo, which claims the nation has ruined its reputation and closed off business prospects. December 2023 saw a money laundering investigation into the company by Bulgaria’s prosecutor’s office, which allows the buying and selling of cryptocurrency. Claiming …

Earlier in the session, the Nasdaq Composite had surged more than 1%; but, by the afternoon, gains had tapered off to roughly 0.5%. Not only did Netflix lead the way in strong profits, but other major tech companies like Microsoft and Meta also had increases in their stock prices.While the …

Despite high S&P PMIs, the US dollar is trading at a lower level; down -0.36% as per the DXY Index, which fell, earlier during the North American session to 103.05 as a result. the DXY reading is 103.149 at the time of writing. The The US S&P PMI for January …

The Canadian Dollar has experienced a decline due to the Bank of Canada’s dovish outlook on inflation, with Canadian inflation not expected to return to the BoC’s 2% target until 2025. Money markets have reduced bets of a BoC rate cut in April to 40%, from 65% before the BoC’s …

Tiff Macklem, Governor of the Bank of Canada (BoC), and Senior Deputy Governor Carolyn Rogers explain the BoC decision to leave the interest rate unchanged at 5% after the January policy meeting and respond to questions from the press.Key Quotes“Inflation is still somewhat broad-based and that’s why we’re concerned about …

Netflix said Tuesday that its fourth quarter subscriber additions surged, topping its own forecast and sending its stock as much as 14% higher in early trading on Wednesday.The subscriber additions of 13.12 million beat Netflix’s own forecast of about 9 million with full-year 2023 net additions sitting at roughly 30 …

The US dollar’s additional strength in combination with higher yields across the curve and the intense risk aversion pushed the DXY Index to new yearly highs well north of 103.00. Next on tap in the US docket will be the preliminary Manufacturing and Services PMIs for the month of January.It …

The S&P 500 continued its historic run upward as investors looked to the day’s earnings stream for clues about the state of the economy and corporate America.The S&P 500 increased by almost 0.3% to close at 4,864.61, a record high. Tuesday saw another big move in the Nasdaq Composite, which …