Zurich Central Station MacKenzie Sigalos DAVOS, Switzerland — It took 18 hours, a Lyft, two planes, three cross-country train rides and a ride in a Volvo sport utility vehicle to get from downtown Manhattan to an apartment on Scalettastrasse, a snow-covered street in the heart. from Davos. The small Swiss Alpine town is once again … Read more
The Securities and Exchange Commission’s approval of 11 spot bitcoin ETFs this week could be a turning point for cryptocurrency investing. Ark Invest CEO and Chief Investment Officer Cathie Wood is behind one of the new ETFs. Her firm has partnered with 21Shares to launch the ARK 21Shares Bitcoin ETF. “We really believe this is … Read more
Wells Fargo reported better-than-expected quarterly results ahead of Friday’s opening bell. We were also pleased to see that by the end of 2023, management has officially delivered on its multi-year cost savings program of $10 billion. But shares came under pressure due to a weaker-than-expected outlook. Total revenue for the three months ended Dec. 30 … Read more
Billionaire hedge fund Bill Ackman, who recently fought a high-profile battle against Harvard University, said Friday he is launching an activist organization to fight anti-Semitism and reform higher education. “It will be a think and do tank. He’s going to be an activist,” Ackman said in an interview with CNBC’s Andrew Ross Sorkin on “Squawk … Read more
The U.S. Securities and Exchange Commission has pushed for bitcoin exchange-traded funds to be fundamentally different from large equity funds, and the impact of that decision on how the funds will be traded remains to be seen. Bitcoin funds, which launched on Thursday, use a share buyback process that turns the underlying crypto into cash. … Read more
Wholesale prices unexpectedly fell in December, providing a positive signal for inflation, the Labor Department said on Friday. The producer price index fell 0.1% for the month and was up 1% at the end of 2023 from a year ago, the Labor Department said on Friday. Economists polled by Dow Jones had expected a monthly … Read more
Check out the companies that made headlines in pre-market trading. Tesla — Shares of the electric car maker fell more than 3% in premarket trading after Tesla cut prices of both the Model 3 and Model Y in China a day earlier. Tesla also said its Berlin manufacturing plant will face outages due to shipping … Read more
Here are the most important news investors need to start their trading day: 1. Packaging Stock futures fell on Friday ahead of the week’s final trading session. However, all the major indices are still heading for weekly gains, despite what has seemed like near-daily stagnation since the start of 2024. The Dow Jones Industrial Average … Read more
Wells Fargo shares fell on Friday even after fourth-quarter profit rose from last year, as the bank warned that net interest income for 2024 could be significantly lower year-on-year. Here’s what the bank reported versus what Wall Street expected, based on a survey of analysts at LSEG, formerly known as Refinitiv: · Revenue: $20.48 billion … Read more
Delta Air Lines closed the year by doubling its quarterly profit as demand for travel, especially international travel, helped drive record revenue in 2023. CEO Ed Bastian said continued strong travel demand could boost earnings this year. Still, the company cut its full-year profit outlook from a previous forecast, and shares fell 9% on Friday, … Read more