While the first third of 2023 has been a pleasant change from the dreadful results of 2022, only a handful of big tech stocks are responsible for most of the gains in the S&P 500 this year. Two of those stocks, Alphabet and Microsoft, posted solid results this week, and their results helped to keep the Nasdaq higher Wednesday, while […]

Raiffeisenlandesbank (RLB) NÖ-Wien, an Austrian lending unit of the 96-year-old banking group, signed a letter of intent to cooperate with crypto exchange Bitpanda to offer digital asset investment opportunities. According to Bitpanda’s announcement, the move makes RLB the first traditional European bank to foray into digital assets. The Deal’s Assessment to be Completed by the End of 2023 Digital asset […]

Before U.S. markets open Tuesday morning, 59 companies are scheduled to report quarterly earnings results. The following table is based on data from Briefing.com and includes a consensus forecast in dollars for quarterly earnings per share and EPS reported last year, and the consensus forecast for quarterly revenue in thousands of dollars. Companies marked with an asterisk have not confirmed […]

CoreWeave, a GPU-focused cloud computing startup, hit a pre-money valuation of $2 billion on Thursday after securing $221 million in a new funding round, according to TechCrunch. The investment will be used to expand the startup’s data centers. CoreWeave Valued at $2B After Fresh Funding Cloud-based computing power and infrastructure provider CoreWeave announced today it had raised $221 million in […]

A new report from crypto research firm K33 Research suggests that Bitcoin could hit the $45,000 mark by May. The report argues that BTC’s current drawdown and recovery cycle is very similar to the one seen during the 2018 bear market in terms of length and trajectory. Are We Living Through a Repeat of the 2018 BTC Cycle? Historically, Bitcoin market cycles, […]

It has been a long year of interest rate hikes, but with both the consumer price index and the producer price index numbers coming in better than expected this week, it is becoming clear that, while painful, the Federal Reserve’s rate hike campaign is working. The good news for investors is that though it is likely the Fed raises rates […]

After an early move to the upside, treasuries showed a notable downturn over the course of the trading session on Thursday. Bond prices pulled back near the unchanged line after seeing early strength and saw further downside going into the close. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.1 basis points […]

This report was sent to Briefing.com subscribers earlier today.  Upgrades: > Akamai Tech (AKAM) upgraded to Overweight from Neutral at Piper Sandler; tgt $93 > AstraZeneca (AZN) upgraded to Overweight from Equal-Weight at Morgan Stanley > Baytex Energy Trust (BTE) upgraded to Outperform from Sector Perform at RBC Capital Mkts > Federated Hermes (FHI) upgraded to Overweight from Underweight at […]

The futures were trading down on Wednesday, after all the major indexes finished the day lower on Tuesday. Many on Wall Street feel that the recent rally, which was the second big move higher since the October lows, is running out of steam, and possibly fast. Wall Street is keeping a close eye on trading levels as more layoffs have […]