Stock futures are slipping after China’s third-quarter economic growth came in below economists’ forecasts. Here’s what we’re watching ahead of Monday’s opening bell. Zillow Group dropped 6.7% premarket. The online real-estate company told Bloomberg that it won’t purchase homes for the rest of the year, saying that it was “beyond operational capacity.” State Street and […]
Companies are ravenous for deals. Wall Street investment bankers are feasting on big paydays. JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. released some of the money they had set aside to deal with pandemic losses, a sign of their confidence in the bumpy economic recovery. Goldman CEO […]
Bitcoin hit $60,000 Friday for the first time since April, as traders anticipate U.S. regulators will approve the first exchange-traded fund to track the cryptocurrency. Approval of an ETF that will buy bitcoin futures contracts—though not the coins themselves—would increase the cryptocurrency’s legitimacy and make it easier for institutional investors to get exposure. Four applications […]
U.S. stocks aren’t far from their all-time highs, while the income investors can earn from bonds is a pittance. So investing in stocks feels risky, and bond yields are too thin to do you much good. The obvious solution is to diversify: outside the U.S., outside of stocks and bonds, and into assets that can […]
Shares in Futu Holdings Ltd. FUTU -13.66% and Up Fintech Holding Ltd. TIGR -3.30% fell sharply, after Chinese state media said the country’s tough new data-privacy laws would pose challenges for the brokerage firms. The two online brokers, which are listed on the Nasdaq Stock Market, said they placed a priority on legal compliance and […]
Aspirational consumers across the world continue to snap up Louis Vuitton LVMUY -0.02% handbags in record numbers. But the latest results from the brand’s owner, LVMH, didn’t give investors all the answers they wanted. After the market closed in Paris on Tuesday, LVMH Moët Hennessy Louis Vuitton said sales in the three months through September […]
The founders of Forge Global Inc., an online marketplace for buying and selling shares of private firms, are launching a new money manager that invests in technology startups before they go public. The new company, D/XYZ, has raised $100 million for its first investment portfolio, Destiny Tech100, and aims to list it publicly as a […]
SPACs have lost some luster in America, but stock exchanges in Singapore and Hong Kong are betting the vehicles will boost their allure to global investors and startups in the region. The two Asian financial hubs have been pushing forward with competing plans to enable listings of special-purpose acquisition companies, which raise money and go […]
The International Energy Agency’s closely watched World Energy Outlook confirms what the world is starting to feel in its bones: The coming energy transition could be painful and expensive. Fatih Birol, executive director of the IEA, in a statement accompanying the report lamented the failure to invest enough to meet future energy needs, saying the […]
The investment—which Blackstone executive Qasim Abbas called the “starting point”—comes as part of a partnership with an advisory firm affiliated with Hipgnosis Songs Fund Ltd. SONG 0.63% , a music-investment company that trades on the London Stock Exchange. Hipgnosis, led by former pop-star manager Merck Mercuriadis, buys artists’ song catalogs and earns revenue when the […]
