The Nasdaq rallied more than 2 percent on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. Investors cheered the chip giant’s decision to list Mobileye in the United States in mid-2022, sending its shares 5.0 percent higher. The…
Big Tech, Chipmakers Power Nasdaq as Omicron Worries Subside
December 7, 2021
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Commodity Currencies Boosted by Hopes Omicron Will Be Mild
December 7, 2021
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LONDON—The dollar index was steady and riskier currencies picked up on Tuesday, as traders bet that the Omicron variant of COVID-19 would not be as severe as previously expected. Asian shares staged a recovery overnight and oil prices climbed as risk appetite improved following reports in South Africa earlier in the week saying that Omicron…
Bitcoin Back Over $50,000, as Market Calms After Weekend Turmoil
December 7, 2021
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HONG KONG—Bitcoin rose 1.5 percent in early Asia on Tuesday, after firming overnight in line with equity markets and other risk assets, but many crypto traders remained on edge after Saturday’s sharp and sudden plunge. The world’s largest cryptocurrency was last around $50,800, having closed a choppy day on Monday 2.2 percent higher. “The general…
Oil Climbs More Than 2 Percent on Easing Omicron Fears, Iran Delay
December 7, 2021
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LONDON—Oil prices extended gains on Tuesday from a near 5 percent rebound the day before as concerns about the impact of the Omicron coronavirus variant on global fuel demand eased and Iran nuclear talks stalled, delaying the return of Iranian crude. Brent crude futures were up $1.66, or 2.3 percent, at $74.74 a barrel by…
Global Stocks Follow Wall Street Higher as Virus Fears Ease
December 7, 2021
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BEIJING—Global stock markets followed Wall Street higher Tuesday as anxiety about the coronavirus’s latest variant eased and China reported stronger November trade figures than expected. London and Frankfurt opened higher. Shanghai, Tokyo, and Hong Kong advanced. Oil prices rose more than $1 a barrel for a second day. Wall Street futures were higher after the…
Wall Street Regains Some Ground With Help From Easing Virus Fears
Wall Street’s major averages closed higher on Monday with economically sensitive sectors and travel-related stocks advancing solidly as investors were encouraged by some optimistic comments from a top U.S. official on the latest COVID-19 variant. Of Wall Street’s three major averages, the Dow rose the most while industrials and consumer staples, up around 1.6 percent,…
7 Details We Learned From the Donald Trump SPAC: PIPE, SEC, User Forecasts and Revenue Projections
A SPAC announced plans to take Donald Trump’s new social media platform and media platform public. At the time of the announcement, the presentation did not offer up financial or user projections. New details have emerged Monday with an 8-K filing. 1. PIPE Details One of the mysteries of the SPAC deal announced between Digital…
This Day in Market History: The 1974 Bear Market Bottom
Each day, Benzinga will take a look back at a notable market-related moment that happened on this date. What Happened? On Dec. 6, 1974, the two-year bear market finally bottomed, marking a 43 percent decline for the Dow Jones Industrial Average in less than two years. Where Was the Market? The S&P 500 closed at…
Dow Climbs Over 1 Percent on Cyclical Boost; Nvidia Weighs on Nasdaq
December 6, 2021
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The Dow rallied over 1 percent on Monday as economy-linked banks and energy stocks roared back after sharp declines in the previous week, while Nasdaq struggled to keep pace as Nvidia dragged down chipmakers. Blue-chip stocks such as Honeywell International, Chevron Corp., Goldman Sachs, 3M Co., and Boeing Co. gained between 1.4 percent and 3.8…
Omicron Shows Policymakers Can’t Let Guard Down: BIS
December 6, 2021
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LONDON—The newly-discovered Omicron variant shows policymakers and financial markets cannot lower their guard on COVID-19 and will have to calibrate their policies carefully, the Bank for International Settlements said on Monday. Dubbed the central bank to the world’s central banks due to its regular gatherings of decision makers, the Swiss-based BIS said Omicron had already…
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