UST debacle will ‘probably be the end’ of algorithmic stablecoins

Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, dropped to $0. The collapse of the algorithmic stablecoin TerraUSD has raised question about the future survival of similar crypto assets. Dan Kitwood | Getty Images News | Getty Images Algorithmic stablecoins like terraUSDwhich collapsed and sent shockwaves through the cryptocurrency market, are unlikely to survive, the … Read more

Self-driving car companies’ first step to making money isn’t robotaxis

A WeRide robotaxi with health supplies heads to Liwan district on June 4, 2021, in the southern Chinese city of Guangzhou. Southern Metropolis Daily | Visual China Group | Getty Images BEIJING — While governments may be wary of driverless cars, people want to buy the technology, and companies want to cash in. It’s a … Read more

GameStop Earnings Miss Forecasts. Stock Market Doesn’t Know What to Make of It.

Text size GameStop stock could see renewed interest after the company reports earnings. Justin Sullivan/Getty Images GameStop reported a wider-than-expected net loss for the first quarter and once again declined to provide an outlook. Its stock has fallen, gained and settled in close to unchanged in after-hours changing. The videogame retailer reported an adjusted net … Read more

Stock Market Today: Dow Falls, Salesforce Gains, Amazon Rises

The stock market dropped Wednesday following still-strong economic data and the start of the Federal Reserve’s “quantitative tightening.” Tea Dow Jones Industrial Average fell 177 points, or 0.5%, while the S&P500 dropped 0.8%, and the Nasdaq Composite declined 0.7%. Stocks tried to rally in the afternoon but ultimately stumbled into the close. “US stocks turned … Read more

Capri Holdings, Salesforce, Weibo and others

Check out the companies making headlines before the bell: Capri Holdings (CPRI) – The parent of luxury brands, like Michael Kors, Versace and Jimmy Choo, saw its stock surge 11% in the premarket after posting better-than-expected quarterly numbers before giving back nearly all those gains. Capri earned an adjusted $1.02 per share, 20 cents above … Read more

Tesla’s Shanghai Plant Still Below Full Capacity. Tesla Stock Is Dropping.

Text size An aerial view of Tesla Shanghai Gigafactory Xiaolu Chu/Getty Images You’re here ‘s Shanghai factories are still not operating at full strength—but that’s not the only reason the EV company’s estimates still look too high. On Tuesday, Bloomberg reported Tesla (ticker: TSLA) will continue to operate its Shanghai facility in a closed-loop setting … Read more

5 things to know before the stock market opens Tuesday

1. S&P 500 futures are lower after snapping long losing streak Traders on the NYSE, May 20, 2022. Source: NYSE S&P 500 futures were lower Tuesday morning, as Wall Street resumes trading following the Memorial Day holiday. Stocks posted strong gains last week, ending seven-week losing streaks for the S&P500 and Nasdaq Composite and an … Read more

China faces a nearly $1 trillion funding gap. It will need more debt to fill it.

During the first four months of the year, investment in real estate development fell by 2.7% from a year ago. Pictured here is a project in Qingzhou, Shandong province, on May 15, 2022. CFOTO | Future Publishing | Getty Images BEIJING — The Chinese government faces a growing shortfall of cash, analysts say, as they … Read more

Recession-fearing investors keep slashing fastest-growing cloud stocks

Nima Ghamsari, co-founder and chief executive officer of Blend, speaks during the Sooner Than You Think conference in New York on Oct. 16, 2018. Alex Flynn | Bloomberg | Getty Images Tech investors finally got some relief this past week, as the Nasdaq broke a seven-week losing streak, its worst stretch since the dot-com bust … Read more

US job market divide boosts some workers’ prospects, puts others on notice

A help wanted sign is displayed in the window of a Brooklyn, New York business. Spencer Platt | Getty Images Cracks are forming in the US labor market as some companies look to curb hiring while others are desperate for employees. Microsoft, Twitter, Wayfair, Snap and Facebook-parent Meta recently announced they plan to be more … Read more