News

The crypto market is closely tracking the stock market’s movements, reflecting broader economic trends. After a surge on Friday, spurred by a strong jobs report, cryptocurrencies saw a downturn on Monday morning as escalating tensions in the Middle East weighed on investor sentiment. However, Nvidia’s (NVDA) AI summit this week has somewhat provided a boost to certain AI-driven tokens, offering investors a glimpse of upward momentum in a market otherwise under pressure.

Goldman Sachs (GS) raised it forecast for the S&P 500 by year-end as the U.S. economy shows increasing signs of resilience.

The Securities and Exchange Commission (SEC) approved bitcoin spot exchange-traded funds (ETFs) at the start of this year, capturing the attention of investors. The influx of capital into these funds fueled a rapid rise in bitcoin’s value, which soon reached an all-time high, breaking the prolonged stagnation in the cryptocurrency market.

Last week closed on a positive note, with two key developments easing concerns about the economy. A strong jobs report helped calm fears of a weakening labor market, while the resolution of the dockworkers’ strike alleviated worries about supply chain disruptions. In addition, oil prices, which had surged early in the week due to Middle East tensions, saw a welcome pullback by the weekend.

Hackers changed the Lego website's banner to promote a "Lego Coin."

Super Micro Computer (SMCI) is set to undergo a stock split after the market closes on Monday, aligning itself with other prominent AI-driven companies like Nvidia and Broadcom, which also executed stock splits earlier this year. Following the split, the stock will begin trading Tuesday at its adjusted—and substantially lower—price.

Considering the shambolic state of the American economy, inflation, and rampant wage stagnation, I love finding stories about affordable cars and prices dropping. In this case, the team at iSeeCars analyzed the listing prices of over 1.6 million one-to-five-year-old used cars listed for sale online between August 2023 and August 2024 to determine which cars have lost the most value on the used market.

Spirit Airlines (SAVE) lost more than a quarter of its remaining value Friday — it’s down 28% after investors suspected it might file for bankruptcy soon. The Wall Street Journal reported Thursday that the company is in talks with bondholders about what a debt restructuring might look like.

The Dow surged by more than 260 points following the release of strong job data and the end of the U.S. dockworkers’ strike, indicating a robust economy. According to the Bureau of Labor Statistics, 254,000 jobs were added in September; the unemployment rate dipped to 4.1%.

Nvidia’s (NVDA) next-generation artificial intelligence chip is in full production, and demand for it is “insane,” according to CEO Jensen Huang.