Stocks

ICOs turn exclusive as wealthy investors snatch up big deals

Bloomberg ICOs were supposed to be IPOs without the Wall Street middlemen and Washington meddling. Now they’re looking a bit less revolutionary. Initial coin offerings have raised $18 billion for blockchain startups this year, almost five times last year’s total, according to CoinSchedule. But unlike 2017, this is increasingly due to blockbuster sales that targeted accredited investors instead of just ...

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10-year high in ‘US inflation’ less exciting under hood

Bloomberg US inflation in July, excluding noisy food and energy prices, was the highest since 2008 at 2.4 percent. A closer look suggests there probably isn’t much cause for concern at the Federal Reserve. Excluding shelter costs, US services inflation edged down last month. Central bankers pay close attention to services inflation because it correlates more closely with domestic labour ...

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US SEC postpones decision on Bitcoin ETF listing to Sept

Bloomberg The US Securities and Exchange Commission (SEC) has postponed a decision on whether to allow the listing of an exchange-traded fund backed by Bitcoin. The agency now has until September 30 to “approve or disapprove, or institute proceedings to determine whether to disapprove” a proposed rule changefrom Cboe Global Markets Inc. that would allow the fund from VanEck Associates ...

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US stocks mixed amid trade fears; oil drops, bonds steady

Bloomberg US stocks erased early losses prompted by renewed trade fears as gains in megacap technology shares left major benchmarks little changed. Oil slumped and Treasuries rose. The S&P 500 Index was flat after a four-day advance as Washington and Beijing set dates for new levies on billions in goods. Trading was 20 percent below average. Tech and bank shares ...

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Ruble heads towards 20-month slump as ‘US bill’ jolts Russia

Bloomberg The ruble headed for its weakest closing level since November 2016 and Russian stocks and bonds plunged after local media published the full text of a US bill seeking “crushing sanctions” for election meddling. The currency slid 2.2 percent to 64.91 per dollar on Wednesday, sinking the most among major peers and breaking out of a range it’s traded ...

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Stocks rise on economy optimism as dollar slips

Bloomberg US stocks rose within striking distance of records amid optimism economic growth can continue apace even as the world’s two largest economies square off in a trade skirmish. The dollar slid the most in two weeks. The S&P 500 Index hit the highest level since January 29 and the Cboe Volatility Index dipped below 11 for the first time ...

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China shares post biggest gain in more than two years

Bloomberg Chinese equities powered higher on Tuesday as the Shanghai Composite Index posted its biggest gain in more than two years. Infrastructure and property companies were some of the best performers after a report in state media raised hopes for further policy support. The Shanghai benchmark climbed 2.7 percent, its first advance in a week, to close at 2,779 points. ...

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US stocks fluctuate as dollar, bonds advance

Bloomberg US stocks fluctuated and the dollar climbed versus most of its major peers after China signalled it won’t flinch in a trade war. Major American equity averages swung between gains and losses in trading 14 percent lower than the 30-day average at this time of day. PepsiCo Inc. edged higher after chief executive officer stepped down. The Bloomberg Dollar ...

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India surges to record high, bank stocks gain

Bloomberg Indian stocks extended recent gains amid an earnings season that has buoyed investor optimism about the outlook for companies’ profit growth and sent the benchmark index to record closes in eight of the last 11 trading sessions. The S&P BSE Sensex climbed 0.4 percent to 37,691.89 at close in Mumbai. As many as 12 out of the 19 sectoral ...

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Bitcoin slips below $7,000

Bloomberg Bitcoin slipped below $7,000 to its lowest level in three weeks, as seemingly positive sentiment surrounding the largest virtual currency soured over the weekend. The digital token fell as much as 6 percent to trade with a $6,000-handle for the first time since July 17. Last month’s renewed exuberance, which saw it rise by almost a third, appears to ...

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