The stablecoin market witnessed a landmark moment as Circle Internet Group, the issuer behind the USD Coin (USDC), made a powerful debut on the New York Stock Exchange. CEO Jeremy Allaire rang the opening bell with enthusiasm, marking a historic day for crypto adoption. Circle’s shares skyrocketed after listing at $31, closing Thursday at $83—a…
Retail Investors Rally Behind Tesla After Trump-Musk Clash Triggers Stock Plunge
Retail investors quickly capitalized on the sharp drop in Tesla stock following a dramatic public fallout between U.S. President Donald Trump and Tesla CEO Elon Musk. The clash, triggered by Trump’s threat to cut off government contracts with Musk’s companies, unfolded across social media and sent shockwaves through the market. The dispute centered on the…
U.S. Job Growth Beats Forecasts in May as Wages Rise and Tariff Fears Loom
Hiring in the U.S. slowed only slightly in May, signaling resilience in the labor market despite growing concerns over tariffs and a slowing economy. According to the Bureau of Labor Statistics, nonfarm payrolls increased by 139,000, exceeding the Dow Jones estimate of 125,000 but falling short of April’s downwardly revised 147,000. The unemployment rate remained…
Surges 35% in May, Robinhood Gains Momentum with Crypto Boom, Earnings Growth, and WonderFi Deal
Robinhood Markets (NASDAQ: HOOD) delivered a standout performance in the early months of 2025, continuing its upward momentum into May. The online brokerage saw its stock climb nearly 35% during the month, largely driven by a well-received earnings report and increased activity in the cryptocurrency space. The combination of financial results that met analyst expectations…
Broadcom Tops Q2 Estimates as AI Demand and VMware Boost Propel Profit and Revenue Surge
Broadcom exceeded Wall Street expectations in its second-quarter earnings report, posting adjusted earnings per share of $1.58, slightly above the anticipated $1.56. Revenue came in at $15 billion, narrowly surpassing the forecasted $14.99 billion. The chipmaker also provided an optimistic outlook for the third quarter, projecting revenue of $15.8 billion, compared to the $15.7 billion…
Circle Soars 168% in Market Debut as Stablecoin Hopes and Regulatory Tailwinds Spark Investor Frenzy
Circle Internet Group made a striking entrance into the public market on Thursday, with its shares skyrocketing by 168% following its initial public offering. Priced at $31 per share, well above the anticipated range, the stock opened at $69 and surged to a high of $103.75 during the day. The offering raised nearly $1.1 billion…
Lululemon Tops Q1 Estimates but Slashes Outlook as Tariffs and Weak U.S. Sales Hit Stock
Lululemon exceeded Wall Street’s expectations for its fiscal first-quarter earnings, reporting earnings per share of $2.60 versus the expected $2.58 and revenue of $2.37 billion compared to the forecasted $2.36 billion. Net income for the quarter was $314 million, slightly down from $321 million a year earlier. Despite the positive performance, the company cut its…
EU Pressures China to Ease Rare Earth Export Curbs as Factory Shutdowns Loom and Prices Soar
The European Union has strongly urged China to relax its export restrictions on rare earth elements, which are crucial for manufacturing a wide range of products from automobiles to electronics. This call came after China’s tightened export controls led to major disruptions across industries in Europe and the United States. EU Trade Commissioner Maros Sefcovic…
RBI Slashes Interest Rates to 5.5% as Growth Slows and Inflation Dips to Six-Year Low
India’s central bank, the Reserve Bank of India (RBI), has lowered interest rates by half a percent, marking the third consecutive cut amid slowing inflation and economic growth. The repo rate now stands at 5.5%, the lowest level in three years. This rate determines how much banks pay to borrow money from the RBI, directly…
Mark Tucker Returns to AIA as Chairman After HSBC Exit, Signaling Strategic Reentry Into Asia’s Insurance Market
Mark Tucker, the outgoing Chairman of HSBC Holdings, is set to return to the insurance industry as the new chairman of Hong Kong-based AIA Group. His appointment at AIA begins on October 1, following his departure from HSBC on September 30. Tucker previously led AIA as its chief executive and president from 2010 to 2017,…