Nike, Inc (NYSE:NKE) will release earnings for its second quarter, after the closing bell on Thursday, Dec. 19. Analysts expect the Beaverton, Oregon-based company to report quarterly earnings at 63 cents per share, down from $1.03 per share in the year-ago period. Nike projects to report quarterly revenue of $12.11 billion, compared to $13.39 billion a year earlier, according to data from Benzinga Pro. With the recent buzz around Nike ahead of quarterly earnings, some investors are eyeing poten
What the history of Fed pauses says about stocks and bonds after the market freakout
Citigroup has published a timely piece looking at the history of Fed pauses during previous easing cycles, now that a January change looks remote
U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate
The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate. Third-quarter growth in U.S. gross domestic product — the economy's output of goods and services — accelerated from the April-July rate of 3% and continued to look sturdy despite high interest rates, the Commerce Department said Thursday. Consumer spending, which accounts for about two-thirds of U.S. economic activity, expanded at a 3.7% pace, fastest since the first quarter of 2023 and an uptick from Commerce’s previous third-quarter estimate of 3.5%.
Nvidia stock rebounds after broad market rout as analysts stay bullish on outlook
Nvidia stock rose as Wall Street analysts reiterated their Buy ratings despite concerns about rising competition and the possibility that AI chip demand could wane.
Kraken decries crypto de-banking amid Metro Bank ban
Metro is one of several U.K. lenders to impose a bar or limit on deposits into crypto exchanges. A Metro Bank spokesperson says the thrust is to curb fraud.
Losses from crypto hacks jump to $2.2 billion in 2024, report says
Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday. The rise in crypto heists comes as bitcoin jumped 140% this year to surpass $100,000 mark, drawing institutional participation and backing from U.S. President-elect Donald Trump. "As the digital asset market booms, it is typical to see the illicit use of crypto grow in tandem," Chainalysis' cybercrimes research lead Eric Jardine said.
Bitcoin Miners Are Expected to be Profitable in December, Jefferies Says
November was a strong month for the miners as the rally in bitcoin outpaced the rise in the network hashrate, the report said.
Big year of central bank easing wraps up with dovish BoE, Fed caution
The Bank of England wrapped up a big year of central bank rate cuts by keeping rates steady on Thursday, a day after the Federal Reserve eased policy but suggested it would be more cautious in 2025. The Swiss National Bank, which has been at the forefront of monetary easing, cut rates by an unexpectedly large 50 basis points (bps) to 0.5% last week, the lowest since November 2022 and the bank's biggest reduction in almost a decade. It indicated further easing would be gradual after annual inflation accelerated to 2%, but with Canada's weak economy threatened by U.S. President-elect Donald Trump's proposed tariffs, markets placed 50% odds on a 25-bps cut next month.
5 Things to Know Before the Stock Market Opens
News of the day for Dec. 19, 2024
Stocks Gain Pre-Bell as Traders Digest Fed Rate Cut; Asia, Europe Down
The benchmark US stock measures were pointing higher before the opening bell Thursday as traders dig