(Reuters) - Robinhood Markets jumped in premarket trading on Thursday after reporting record first-quarter revenue and profit thanks to mom-and-pop investors returning to its commission-free platform to trade cryptocurrencies. Retail trading has been on the road to recovery since bitcoin and U.S. stocks scaled record highs earlier this year, helped by bets of a soft landing for the economy and expectations of interest rate cuts from the Federal Reserve. The approval of the first spot bitcoin ETFs in the U.
Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California. It operates an electronic trading platform that facilitates commission-free trades of stocks, exchange-traded funds and cryptocurrencies as well as individual retirement accounts via a mobile app introduced in March 2015. Robinhood is a FINRA-regulated broker-dealer, registered with the U.S. Securities and Exchange Commission, and is a member of the Securities Investor Protection Corporation. The company's revenue comes from three main sources: interest earned on customers' cash balances, selling order information to high-frequency traders and margin lending. As of December 2023, Robinhood had 23.4 million funded accounts and 10.9 million monthly active users. In April 2022, Robinhood rolled out a cryptocurrency wallet to more than 2 million users.
Bitcoin surged to over $72,700 driven by approval of spot bitcoin ETFs and anticipation of a halving event limiting new supply. The total crypto market cap reached $2.71 trillion, with bitcoin comprising 52.7%. The CoinMarketCap Crypto Fear & Greed Index is at 89.12 points signaling extreme greed. Bitcoin attracted $2.6 billion inflows in a week. Ether's inflows are down while bitcoin's momentum is also boosted by US spot Bitcoin ETFs and expectations of Federal Reserve interest rate cuts. Gold prices are also surging due to expectations of global rate cuts.
US stocks climbed on Tuesday amid hopes for rate cuts following a weaker-than-expected jobs report. Federal Reserve officials' statements are being closely watched, with futures markets pricing in two potential interest rate cuts this year. European and Asian markets also saw gains, with Japan's Nikkei 225 up 1.6% and South Korea's Kospi up 2.2%. Australia's S&P/ASX 200 rose 1.4% after the central bank kept interest rates unchanged. Tech stocks drove the market higher, with Nvidia and Super Micro Computer leading. Corporate earnings have exceeded expectations globally, signaling positive growth.
The S&P 500 gained 1% while the Nasdaq Composite rose 1.2% and the Dow Jones Industrial Average increased almost 0.5%. The market rally was driven by expectations of an earlier rate cut from the Federal Reserve, with over two-thirds of bets now on a September rate cut and expectations for at least two cuts by year-end. Federal Reserve officials, including John Williams and Thomas Barkin, indicated potential rate cuts based on incoming data and inflation expectations. Disney's upcoming earnings and Apple's stock dip post-Warren Buffett's revelations were notable.
US stocks ended the week with gains after a two-day rally fueled by the Federal Reserve's March meeting. The S&P 500, Nasdaq, and Dow Jones Industrial Average all saw increases. The Fed's dot-plot predicts three interest-rate cuts for 2024. Bitcoin ETFs experienced significant outflows totaling $836 million. Nasdaq reached a new record high amidst optimism for a reversal in interest rate hikes. FedEx shares rose by 7% following improved operating margins.
Bitcoin has hit a new record high of over $68,990.90 following the approval of bitcoin exchange-traded funds by the Securities and Exchange Commission (SEC). The approval of these ETFs has made it easier for investors to add bitcoin to their portfolios, leading to a significant increase in demand and a surge in prices. The rally in bitcoin is also attributed to a strong performance in broader stock markets and improving market optimism. However, the volatile nature of bitcoin was highlighted as its price sharply retreated after reaching the milestone.
Bitcoin reached a new all-time high above $70,000, with a 59% increase this year after the SEC's approval of the first spot bitcoin ETF. Galaxy Digital's Michael Novogratz predicts more growth, mentioning $100,000 as a potential target. Multiple Bitcoin ETFs, including BlackRock's iShares Bitcoin Trust, have made investing in the digital asset more accessible. Global stock markets soared amid hopes of interest rate cuts, with Bitcoin and gold hitting record highs. In the UK, some companies like Just Group and Informa reported strong profits, while Currys plans to sell its Greek and Cypriot business.
Bitcoin reached an all-time high of $70,136.33, only to drop below $67,000 within an hour, showcasing its extreme volatility. The rise was attributed to increased interest from financial firms after the US SEC approved several Bitcoin ETFs. Australian cryptocurrency enthusiasts are optimistic after the price surge, with expectations of further growth. The upcoming halving event, reducing the daily Bitcoin generation to 450, is anticipated to impact the market positively. Speculation surrounds the potential approval of Ethereum ETFs by the SEC, with uncertainties about its complexity compared to Bitcoin.
Bitcoin surged to over $66,000 on Monday, nearing its record high, with a 50% gain in 2022 driven by inflows into US-listed bitcoin funds. The approval of spot bitcoin ETFs in the US has attracted baby boomers to invest, igniting enthusiasm. Ether also rose alongside speculation of ETFs. The rally coincides with stock index records worldwide. Bitcoin's rally is fueled by ETF hopes and anticipation of a price surge post the upcoming 'halving' event in April. However, mainstream experts warn about the speculative nature of bitcoin.
Bitcoin's value has increased by 20% in just five days, nearing its all-time high of $69,000, driven by an influx of funds after US SEC approved bitcoin ETFs and anticipation of the upcoming halving event. Digital coin hit $63,933 with predictions of reaching $150,000 next year. Coinbase experienced outages due to increased trading. In the UK, London markets were down, while Easyjet returns to the FTSE 100. Beyond Meat surged on Wall Street, and other companies like Animalcare, Kier Group, and Rolls-Royce made notable moves.
The price of bitcoin soared above $57,000 fueled by record spot ETF trading volumes, with major cryptocurrencies like ethereum also rising. Bitcoin spot ETFs accumulated 9,000 bitcoins in a day, 10 times the daily new supply. Institutional interest is growing, with holdings representing over 3% of all bitcoin. The approval of bitcoin spot ETFs by the US SEC has opened doors for more investors and potential billions in fresh investment. Bitcoin has risen by 32% in 2024, reaching its highest point since November 2021, with predictions of reaching new all-time highs in the coming weeks.
(Bloomberg) -- Asian stocks were poised to gain on Tuesday, following a strong lead from Wall Street where optimism the Federal Reserve will start cutting interest rates this year helped push shares to their best three-day rally since November. Most Read from Bloomberg Israel Says a Cease-Fire Plan Backed by Hamas Falls Far Short At $2 Million Per Minute, Treasuries Mint Cash Like Never Before Ex-Trump Controller Says Cohen Repaid From Personal Account Jack Dorsey Leaves Bluesky Board, Calls X Freedom Technology S&P 500 Extends Gains in Final Minutes of Trading: Markets Wrap Futures showed Japans benchmark Nikkei 225 could surge almost 2% on reopening after being closed since end-Thursday. Australian shares should also gain, while Hong Kong looked steady. The upward momentum comes after the S&P 500 rose 1% and topped its average price of the past 50 days a level seen by many chartists as key in maintaining the positive sentiment. Traders also kept an eye on the latest geopolitical developments, with Israel rejecting a statement from Hamas that it had accepted a cease-fire proposal to end the fighting in Gaza.
Yahoo! News
Yahoo! News
Wikipedia
PANORA
PANORA
PANORA
PANORA
PANORA
PANORA
PANORA
PANORA
PANORA
PANORA
PANORA